Urban Network Capital proposes 27-story condo-hotel in Miami’s Edgewater
180-unit property would rise at the foot of the Julia Tuttle Causeway
Urban Network Capital Group wants to build a 27-story condo-hotel at the foot of the Julia Tuttle Causeway in Miami’s Edgewater neighborhood.
The Coral Gables-based firm proposes a 180-unit project with 7,300 square feet of retail on a half-acre property on the northwest corner of Northeast 36th Street and Northeast Fifth Avenue, according to an application filed to the city last week. The development site consists of five lots at 445 and 455 Northeast 36th Street, as well as 3618, 3620, 3630, 3632 Northeast Fifth Avenue.
The Miami Urban Development Review Board will vote on the project at its meeting on Wednesday. The developer is seeking approval for four waivers, including a reduction by 10 percent of a driveway’s width.
Urban Network Capital, led by Robert Thorne, bought the site in partnership with Coral Gables-based Vertical Developments for $13.5 million in September.
Founded in 2019, Urban Network has projects in Miami and Orlando, according to its website. In 2004 the firm completed the six-story Lofts at Mayfair with 99 condos at 3339 Virginia Street in Miami’s Coconut Grove.
In Brickell, Urban Network and Vertical Developments plan an eight-story, 111-unit condo-hotel at 1120, 1130 and 1136 Southwest Third Avenue. The developers landed a $24.5 million construction loan for the project, called Visions at Brickell, in December.
Over the past decade, developers have transformed Edgewater from a low-rise residential enclave to a canyon of condo and rental skyscrapers. The construction boom is expected to continue with several projects in the pipeline.
The Ardid family’s Key International wants to develop a 42-story, 462-unit apartment tower on vacant land next to Trinity Episcopal Cathedral at 515 Northeast 15th Street and 464 Northeast 16th Street. The site is at the intersection of Edgewater and the Arts & Entertainment District.
Pacific Star Capital wants to redevelop the Denny’s and adjacent parking lot at 3600 Biscayne Boulevard with an 18-story, 175-unit apartment building.