Alta proposes 18-story condominium in North Miami
Raimundo Onetto’s firm paid $14M for waterfront dev site last year
Alta Developers’ Raimundo Onetto with rendering of proposed 96-unit condominium (Alta Developer, Revuelta Architecture Internationa, Getty)
Alta Developers wants to build a 96-unit condominium on the site of an aging waterfront apartment building in North Miami.
The Miami-based development firm, led by Raimundo Onetto, proposes an 18-story building on a 0.8-acre site that is now home to the closed Mid Bay Club Apartments at 11950 North Bayshore Drive, according to an Alta application to Miami-Dade County. In April, Alta submitted a request to the county to allow for a reduction of the required setback from the shoreline to 25 feet, records show.
Renderings depict a building with curving balconies and floor-to-glass windows. Designed by Revuelta Architecture International, the project’s exact unit count is yet to be determined, with 96 condos a rough estimate.
Alta also is seeking development entitlements from North Miami. By right, the firm can build a 12-story, 52-unit building on the property.
Alta bought the Mid Bay Club Apartments and a 0.2-acre vacant lot across the street last year for $14 million, according to records.
The North Miami project application comes as Alta has several other developments on tap.
Near Dadeland Mall, Alta wants to build an 18-story, 223-unit apartment building at 9600 South Dixie Highway near Pinecrest. It would mark Alta’s second 18-story multifamily project on the site. The first 296-unit tower is expected to receive its certificate of occupancy soon.
Last year, Alta paid $20.8 million for a 1-acre development site at 100 Southwest Sixth Street in downtown Fort Lauderdale. The firm plans a 35-story, 400-unit apartment project.
North Miami has caught developers and investors’ eyes in recent years. Turnberry Development, led by Jackie Soffer, and LeFrak are developing the massive SoLé Mia at 15055 Biscayne Boulevard that is expected to have 4,000 residential units when completed. It includes three apartment towers and a 32-story, 303-unit condo building planned by a partnership between Turnberry and developer Carlos Rosso.
Jeffrey Soffer, Jackie Soffer’s brother who leads Fontainebleau Development, scooped up the PowerHouse Marina at 13255 Biscayne Boulevard in North Miami for $10.1 million last year.