Arch Companies, partner complete Edgewater assemblage for mixed-use apartment project

Properties are zoned for at least 36 stories

Feb.February 28, 2018 10:30 AM

2521 Biscayne Boulevard and William Wiener (Credit: Google Maps and Viscor)

UPDATED, Feb. 28, 1 p.m.: Arch Companies and its partner, Canadian investor William Wiener, just completed assembling land for a mixed-use project to include apartments in Edgewater.

Wiener’s 35 Oak US 4 Inc. paid $9.7 million for the Sion International Center Church buildings at 2511 and 2521 Biscayne Boulevard from the Sion Church of the Assemblies God, according to property records. The land totals 22,400 square feet and the buildings 5,955 square feet. Its T6-36a O zoning allows for at least a 36-story structure.

New York-based Arch Companies is the lead investor and developer on the project, managing partner Jeff Simpson said. Simpson, former CEO of Greystone Development, and Jared Chassen, also a former Greystone executive, left to form Arch Companies in December. Wiener, a partner on the project, is president of Viscor, a Toronto-based manufacturer of LED and fluorescent lighting products, according to the company’s website.

In 2016, his company paid $13 million for the Latin Cafe’s 2000 Biscayne Edgewater site next door. That land totals nearly 26,000 square feet.

Together with the Latin Cafe property, 35 Oak US 4 now controls more than 48,000 square feet of contiguous land on that block. The project is in the design stages and will include a residential apartment component, Simpson said. It’s across the street from 2500 Biscayne, a 19-story, 156-unit mixed-use building co-developed by Greystone, Alta Developers and Infinity Real Estate. Greystone recently sold its stake in that building.

In 2015, Wiener’s company paid $5.7 million for an assemblage about two blocks north.

Maria Papaspirou of Fortune International Realty represented Wiener in the off-market deal. She declined to comment on plans for the site.

Related Articles

Rendering of Missoni Baia with a concrete truck and Vlad Doronin (Credit: Getty Images and iStock)

5,800-ton concrete pour set for Missoni Baia condo tower

2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

Elysee building at 788 Northeast 23rd Street

Edgewater’s tallest building tops off at 57 stories

Vlad Doronin and a rendering of Missoni Baia (Credit: Wikipedia Commons and Missoni Baia)

Vlad Doronin, partners score $243M loan for Edgewater tower

Kushner Companies' Charles Kushner and Laurent Morali

Inside Kushner Companies’ $1B expansion into South Florida

Rendering of the Edgewater Holiday Inn pool

Bank OZK lends $28M for Holiday Inn project in Edgewater

Alex Sapir and the site at 1768 Northeast Second Court (Credit: CBRE)

Alex Sapir’s massive Opportunity Zone site in Miami hits the market

Rendering of Crescent Heights’ project with Russell Galbut

Crescent Heights to begin construction of massive Edgewater project