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May 6, 2015 / Johanna Bassols / 0 Comments / Luxury Home Market

Real Estate Developers Bid for New Transit-Oriented Projects

Authorities from Miami-Dade have asked for proposals from local real estate developers to build a transit-oriented structure near the Douglas Road Metrorail station. According to a recent Miami Today article, two heavy hitters responded, the Related Group and Adler 13th floor, a partnership between the Adler Group and 13th Floor Investments. Building mixed-use developments near public transportation stops is a trending concept in the area as more and more people want to conveniently live, work and play in Miami’s bustling community. The proposals for this station, located near Coconut Grove, would attract more mass transit riders (thus alleviating some of the traffic congestion around town) while providing top-notch amenities, offices and residences, all conveniently located just steps away. Here’s a look at what’s on the table.

The Related Group is proposing a 17-story residential tower and a student residence of the same size, considering the Douglas Road Metrorail station is just northeast of the University of Miami. In addition to a nine-story parking garage, the development includes ground-floor retail and office space. According to public records, Miami-based architecture firm, Arquitectonica, would work on the project. The developer stated that they plan to invest approximately $191 million in the project.

The project proposal from Adler 13th Floor includes 970 residential units split between a 25-level tower located on the northeast side of the development located at Peacock Avenue and Douglas Road, and a mid-rise garden-style structure that will include ground-floor retail. Additionally, the Adler team includes 70,000 square feet of retail, parking, a public plaza with outdoor furniture and water features, and a 150-key hotel in their plans. Boston-based Stantec is listed as the architect of choice. The group has claimed that they will invest about $310 million in the project.

Other transit-oriented developments are already in the works, including the Eighth Street Metromover station that will be incorporated with Swire Properties’ Brickell City Centre. Applications are also being accepted for proposals at the Omni bus terminal in Miami. In addition to the mixed-use projects, it is customary for the developer to also upgrade the nearby station. Both Adler 13th Floor and Related have included plans for improvements to the Douglas Road Metrorail station in their proposals.

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