Private equity firm resumes plans for Ocean Drive condominium project

A new 18-story condominium tower could soon rise in Miami Beach’s South of Fifth neighborhood, according to a report from Condo Vultures. The 120 Ocean Drive project, which was previously called the Kallisto, is a planned 10-unit tower just north of famed eatery Prime One Twelve and the nearby Prime Hotel. The Boston-based developer paid $8 million for the site in 2005. — Alexander Britell