Urbanica buys Edgewater site for mixed-use hotel

Developer planning 220-key hotel with retail and restaurant space

TRD MIAMI /
Oct.October 05, 2018 11:30 AM

3001 Biscayne Boulevard (Credit: Katherine Kallergis)

UPDATED, Oct. 5, 2:50 p.m.: A developer just picked up another property along Biscayne Boulevard with plans for a mixed-use project.

Urbanica Management paid $7.95 million for the 18,800-square-foot site at 3001 Biscayne Boulevard and 325 to 311 Northeast Fourth Avenue, according to a press release. The development firm, which owns Urbanica The Meridian Hotel in Miami Beach, will build an Urbanica 220-key hotel with retail and restaurant space, meeting space, a fitness center, bars and a game room. It plans to break ground in the first quarter of next year.

Rose Golden Trust sold the vacant land on Northeast Fourth Avenue, and 1300 Padron LLC sold the building fronting Biscayne, which is a shuttered Check Cashing USA store. Coldwell Banker’s Rosy Cancela represented the buyer and seller.

Charlie Porchetto of Urbanica said the project will be completed within 18 months of breaking ground, in 2020. The building will have 5,000 square feet of retail on the ground floor and a 7,000-square-foot rooftop bar and entertainment space.

Just last month, Edgewater investor Jose Afonso Assumpção sold a development site on 34th Street and Biscayne Boulevard for $11.5 million to a company tied to Jamie Mandel, president and general counsel of New York-based DLC, an owner, operator and manager of shopping centers.

And in August, 3H Group Hotels picked up the site of Limon y Sabor at 3047 Biscayne Boulevard with approved plans to build a 13-story, 137-key hotel.

A number of towers have recently been completed in Edgewater, including the Related Group’s Paraiso District and Two Roads Development and GTIS’ Biscayne Beach.


Related Articles

arrow_forward_ios
Faena Hotel Miami Beach and Eau Palm Beach (Faena, Eau Palm Beach)

Faena Hotel, Eau Palm Beach Resort among latest to lay off hundreds

Faena Hotel, Eau Palm Beach Resort among latest to lay off hundreds
Shelborne South Beach

Shelborne South Beach unit owners lose appeal contesting $30M in assessments

Shelborne South Beach unit owners lose appeal contesting $30M in assessments
From left: The Fontainebleau Miami Beach, Shore Club and Clevelander South Beach 

Record-breaking surge in Covid cases spells trouble for South Florida’s hotel market

Record-breaking surge in Covid cases spells trouble for South Florida’s hotel market
Clevelander South Beach

Party’s over: Clevelander South Beach closes after employee tests positive for Covid

Party’s over: Clevelander South Beach closes after employee tests positive for Covid
Lennox Miami Beach

Lennox Miami Beach hotel exec sues father-in-law for ousting him: lawsuit

Lennox Miami Beach hotel exec sues father-in-law for ousting him: lawsuit
citizenM founder Rattan Chadha, Russell Galbut and a rendering of 1212 Lincoln

CitizenM buys hotel portion of Crescent Heights’ 1212 Lincoln project

CitizenM buys hotel portion of Crescent Heights’ 1212 Lincoln project
1 Hotel South Beach (Credit: Google Maps)

Starwood Capital affiliate sues 1 Hotel & Homes South Beach condo association for trademark infringement

Starwood Capital affiliate sues 1 Hotel & Homes South Beach condo association for trademark infringement
Ziel Feldman and Richard Branson with renderings of the Shore Club (Credit: Getty Images)

The breakdown: Inside Virgin Hotels’ $330M vision for South Beach and how it vanished

The breakdown: Inside Virgin Hotels’ $330M vision for South Beach and how it vanished
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...