Galbut wants to trade land with Miami Beach for taller development heights

Developer wants to build higher than site's seven-story entitlement

TRD MIAMI /
Sep.September 20, 2016 10:35 AM

Russell Galbut is floating a possible deal with city officials that would give Miami Beach land to build a transit hub in exchange for looser height restrictions on his residential project.

The Crescent Heights co-founder is seeking approvals for a transit hub at his 500 Alton Road development site next to the MacArthur Causeway.

According to the South Florida Business Journal, Galbut would give Miami Beach 20,000 square feet of the 73,890-square-foot site in exchange for increased heights for residential development he’s planning. The site is currently entitled for seven stories, but he hopes to build a 25-story tower instead.

The city recently approved a $400 million light-rail project that would create a transit loop around much of South Beach. Galbut told the South Florida Business Journal that building the loop’s transit hub at 500 Alton Road would allow the city to keep Alton Road open while it was under construction, while sites on the eastern side of the street would require closures.

However, Winsome Bowen, Miami Beach’s deputy director of transportation, told the Business Journal that Galbut’s site would make turning left onto Alton Road difficult because of the MacArthur Causeway’s flyover to the street.

Nearby at 700 Alton Road, Crescent Heights is building a 122,000-square-foot commercial building leased to Baptist Health. [South Florida Business Journal]Sean Stewart-Muniz


Related Articles

arrow_forward_ios
Proposed Galbut residence at 4260 Pine Tree Drive and Russell Galbut

Russell Galbut wants to build a modern mansion on Pine Tree Drive

Matis Cohen and Marisa Galbut with the 72nd and Park rendering

Matis Cohen and Galbut family score board approval for North Beach project, to include apartments and micro-units

Daily Digest Miami

SoftBank brings on Marcelo Claure to help turn around WeWork, Hallandale Beach project scores $100M loan: Daily digest

Rendering of Crescent Heights’ project with Russell Galbut

Crescent Heights to begin construction of massive Edgewater project

From left: Jay Roberts, Keith Menin andRussell Galbut

Russell Galbut, Keith Menin ink deal with short-term rental operator Domio

Russell Galbut and the Fifth Hotel

Urbanica scores construction loan from Miami Beach’s biggest developer

Daily Digest Miami

Keith Menin snags a home on North Bay Road, Brickell Flatiron commercial space buyer seeks court-ordered discount: Daily digest

Broker Jamie Maniscalco and Russell Galbut with 2901 Northeast Second Avenue

Russell Galbut closes on missing piece of his Edgewater assemblage

arrow_forward_ios