An Ecuadorian developer is planning a boutique condo project in North Miami Beach’s Eastern Shores, marking the firm’s first foray into South Florida.
Grupo Herdoiza, based in Quito, Ecuador and led by Jaime Herdoiza, just launched sales of Voda Waterfront Residences of Eastern Shores, Alexander Goldstein, sales director for the project, told The Real Deal.
The 12-unit project, at 4098 Northeast 167th Street, is on the Intracoastal Waterway, with open water views of Dumfoundling Bay, said Goldstein, a broker with Miles Goldstein Real Estate.
“There hasn’t been a preconstruction [condo] in North Miami Beach on the Intracoastal in many, many years,” he said. The project is close to the Intracoastal Mall that Gil Dezer purchased for nearly $64 million in 2013 and has since renovated.
Voda’s units will be sized from 1,600 square feet for a two-bedroom, two-bathroom, plus den unit to 1,900 square feet for a three-bedroom, two-and-a-half bath unit. Prices range from $1.1 million to $1.4 million, or from about $600 per square foot to $700 per square foot.
Other features include balconies, porcelain flooring, Italian cabinetry, Gaggenau appliances. The project will also have eight boat slips available for purchase, priced at $178,000 each.
Goldstein said the developer plans to break ground at the end of January. Construction is expected to take 12 months to 18 months, he said. So far, three units are reserved, he said.
In Ecuador, Grupo Herdoiza is involved in construction, project management, consulting and real estate investment, according to its website.
Developers have been targeting North Miami Beach in recent months. Other planned projects in North Miami Beach include the Highlands, a 60-unit, seven-story condominium project at 13810 Highlands Drive, developed by Blue Road; and CK Prive Group’s Uptown 163, a mixed-use project on 5.1 acres that is planned to replace Dean’s Gold strip club. The development, on the northeast corner of Northeast 163rd Street and Biscayne Boulevard, calls for 160 hotel rooms, 198 apartments, 130,000 square feet of leasable office space and 200,000 square feet of retail space.
Also in the works nearby: Turnberry Associates and LeFrak’s SoLē Mia, a 183-acre mixed-use, multi-phased development with hotel, residential, retail and office components on a 183-acre development site at 15045 Biscayne Boulevard, and the Harbour, 13th Floor Investments and Key International’s planned two-tower, 425-unit project at 16385 Biscayne Boulevard.