The Real Deal Miami

Miami’s Urban Development Review Board signs off on Edgewater apartments

Modera Edgewater will have eight stories with 477,626 square feet on 2.44 acres

November 17, 2016 11:15AM
By Francisco Alvarado

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Modera-Edgewater

Rendering of Modera Edgewater

A 297-unit apartment tower in Edgewater received a favorable recommendation from Miami’s Urban Development Review Board Wednesday afternoon.

Board members voted 4-0 to approve waivers sought by the developer, Boca Raton-based Mill Creek Residential, for some cosmetic changes to the building and to reduce the parking requirement by 30 percent.

“We have been working hand in hand with staff to achieve what we think is going to be a spectacular urban infill project,” said Mill Creek attorney Ryan Bailine. “It fits directly into the context of a number of surrounding multifamily mid-rise and high-rise buildings.”

The eight-story building, dubbed Modera Edgewater, is planned to rise on 2.44 acres on 14 contigious parcels on Northeast Fourth Avenue between 24th and 25th streets. Mill Creek is under contract to buy the land from the current owners, N5 Holdings LLC, 24 on the Bay Two LLC, Prive Opportunity Investments Two, Edgesun 455, and Luis Cresencia.

Designed by Corwil Architects, Modera Edgewater will total 477,626 square feet, broken down into 18 studios, 114 one-bedroom apartments, 16 one-bedroom apartments with dens, 106 two-bedroom apartments and 43 three-bedroom apartments.

In addition to the apartments, Modera Edgewater will have 436 parking spaces. Mill Creek hopes to break ground in early February.

Neil Hall, a member of Urban Development Review Board, praised the building’s design before he and his colleagues unanimously approved it. “It’s a sweet project,” Hall said. “You have done a wonderful job. It is rare to look at some of the renderings and actually see the elements at play.”

Although based in South Florida, Mill Creek develops and acquires apartment communities across the country. Since its inception in 2011, the company has built more than 20,000 apartments in more than 90 communities, as well as buying more than 2,50 apartments. By the end of the year, Mill Creek expects to deliver an additional 5,000 apartments to its portfolio, according to a company statement.

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