The Real Deal Miami

Crescent Heights plans major mixed-use project in Edgewater

Replatting calls for grocery store, office, retail and residential on 5-acre site
By Katherine Kallergis | February 08, 2019 05:30PM

A previous rendering of the proposed project and Russell Galbut

UPDATED, Feb. 11, 9:25 a.m.: Crescent Heights is making moves in Edgewater.

The developer requested that the city replat the properties at 3000 and 3050 Biscayne Boulevard in Miami to build a major mixed-use project on more than 5 acres of land.

A replat submitted to the city of Miami reveals plans for up to 754 residential units, nearly 269,000 square feet of office space, about 17,000 square feet of retail space, a 38,450-square-foot grocery store, parking and fitness space, according to the Next Miami.

The 10-story, 90,480 square-foot office building at 3050 Biscayne Boulevard, on the southwest corner of 31st Street and Biscayne Boulevard, will remain. The Real Deal South Florida is a tenant of the building.

Crescent Heights’ co-founder Russell Galbut confirmed the plans and said the timeline for active development is “as soon as possible.”

The development company, based in Miami, has offices in Chicago, New York, Los Angeles and San Francisco. Crescent Heights has assembled a number of properties on Biscayne, including its headquarters at 2200 Biscayne Boulevard.

Records show 3050 Biscayne Properties LLC paid $8 million in 2010 for the property at 3050 Biscayne Boulevard and the lot immediately north, and 3000 Property LLC acquired the office building next door in 2014 for $19.2 million. On Northeast 32nd Street and Biscayne, a Crescent Heights affiliate paid $3.6 million for 3180 Biscayne Boulevard in 2017.

If the company moves forward with development on the 3000-3180 Biscayne Boulevard site, the project could add hundreds of residential units to the area, including in the neighboring Midtown Miami area and on the opposite side of Biscayne Boulevard. Mill Creek Residential recently closed on the site on Northeast 21st Street, just east of the boulevard, for a mixed-use rental tower, the second project the apartment developer has within blocks of each other.

In October, Urbanica Management acquired the site at 3001 Biscayne Boulevard for a hotel with retail and restaurant space.

In Miami Beach, Crescent Heights recently secured approval to build a luxury residential tower at 500 Alton Road.