More multifamily may be coming to Overtown

Kite Tax Lien Capital bought the land last year for $9.5M

TRD MIAMI /
Sep.September 18, 2020 03:30 PM
Kelly Kite and 690 Northwest 13th Street (Google Maps)

Kelly Kite and 690 Northwest 13th Street (Google Maps)

A landowner Miami’s Overtown neighborhood seeks city approval to turn a former chemical site into a multifamily or mixed-use development.

Attorney Ines Marrero has applied for a zoning change on the site at 690 Northwest 13th Street on behalf of the landowner, a company tied to Vero Beach-based Kite Tax Lien Capital.

The site, close to Booker T. Washington High School, housed a retail chemical warehouse to store bulk cleaning chemicals and solvents for distribution from the 1940s to 2000, according to a report on Miami-Dade County’s Brownfields Program. The soil and groundwater are contaminated by volatile organic halocarbons.

On Thursday, the Miami City Commission will hear the landowner’s request to change the property’s zoning from “light industrial” to “restricted commercial.” This will allow for construction of up to 420 multifamily units on the site. The current zoning allows for up to 100 units.

Commissioners passed the application on a first reading in July. This will be the second reading. The planning, zoning and appeals board recommends approval.

Kite Tax Lien manages private equity funds and real estate investments focused in the tax lien and tax deed industry. Managing partner Kelly Kite is also a commercial real estate agent with Coldwell Banker Commercial, specializing in both medical office and hospitality real estate.

The company bought the land last year from spaghetti western movie star Francisco Martínez-Celeiro, also known as George Martin, for $9.5 million.

Other proposed multifamily projects in Overtown include a 578-unit mixed-use development at 249 Northwest Sixth Street and 1,300-plus units of affordable housing at Rainbow Village Apartments and Gwen Cherry 23C.






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