Related Group moves forward with Gallery on the River project

The 160-unit project will include 11 affordable housing units

Miami /
Sep.September 10, 2019 10:30 AM
The Gallery on the River and Jorge Perez of Related Group (Credit: Wikipedia)

The Gallery on the River and Jorge Perez of Related Group (Credit: Wikipedia)

Jorge Pérez’s Related Group plans to build a new 160-unit apartment building right along the Miami River.

The project, known as The Gallery on the River, will sit at 401 Northwest North River Drive and will cost $44.5 million, according to a memo filed with the Miami-Dade County. The resolution was pushed forward by the county commissioners at a Miami-Dade Housing, Social Services & Economic Development Committee meeting on Monday.

The Miami development group — best known for its condo projects — is seeking to pay a $400,000 one-time payment and $40,000 in annual rent with 4 percent annual increases. The project will also include 11 affordable housing units.

The property is in front of the popular Garcia’s seafood restaurant and next to the Jack Orr Plaza, a 12-story senior living public housing.

The Next Miami first reported the plans.

Related Group is the latest developer looking to build new apartment projects along the once-blighted Miami River district.

The Chetrit Group is planning to build a mixed-use development at 401 Southwest Third Avenue in Miami that would include 1,678 residential units, 330 hotel rooms, 266,000 square feet of retail and office space, and more than 2,000 parking spaces.

A development group led by Avra Jain is also planning a $200 million mixed-use project at 555 Northwest South River Drive.

Adler Group is also building four towers with a mix of residential, office and hotel uses, as well as roughly 37,000 square feet of retail and a parking garage with a minimum of 1,000 spaces.


Related Articles

arrow_forward_ios
Jorge Perez and Jon Paul Perez with Terminal Island (Getty, iStock)

Related gets height increase needed for Terminal Island office project in Miami Beach

Related gets height increase needed for Terminal Island office project in Miami Beach
Rendering of the Dorsey with Alex Karakhanian, Jon Paul Perez and Tricera’s Scott Sherman and Ben Mandel (iStock)

Related scores $88M construction loan for Dorsey project in Wynwood

Related scores $88M construction loan for Dorsey project in Wynwood
 Jeff Blau and One Ocean (Getty)

Related Cos. CEO Jeff Blau sells Miami Beach condo

Related Cos. CEO Jeff Blau sells Miami Beach condo
From left: Jon Paul Pérez, Gil Dezer and Matt Allen with an aerial view of 1174-1185 Hillsboro Mile (Google Maps)

Dezer, Related Group team up on waterfront Hillsboro Beach project

Dezer, Related Group team up on waterfront Hillsboro Beach project
Longtime executive Carlos Rosso leaves Related Group (Getty)

Carlos Rosso parts ways with Related Group

Carlos Rosso parts ways with Related Group
Placeholder image

Miami board approves plans for Related, Crescent Heights towers and rejects Melo’s proposal

Miami board approves plans for Related, Crescent Heights towers and rejects Melo’s proposal
Jon Paul Perez and Russell Galbut with renderings of the projects

Related, Crescent Heights and Melo Group seek approval for Miami projects

Related, Crescent Heights and Melo Group seek approval for Miami projects
Domio Wynwood, Gustavo Miculitzki, and Jon Paul Pérez (Credit: Alberto Tamargo/Getty Images)

Related lists Domio Wynwood apartment-hotel for sale with whisper price of $90M

Related lists Domio Wynwood apartment-hotel for sale with whisper price of $90M
arrow_forward_ios

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

Loading...