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February 9, 2017 / Johanna Bassols / 0 Comments / New Developments

New Mixed-Use Development in North Miami

In terms of new real estate projects, North Miami hasn’t seen much action in the last decade, but according to a recent article from The Real Deal, that’s about to change. New details were just released for the $40 million senior housing development known as NoMi. The project will feature two buildings, an assisted living facility and a 175-unit apartment building. Developed by Blue Road Developers and the Upper Manhattan Development Corp., NoMi will be located at 950 Northeast 124th Street and is the first of its kind in the area.

The plans for the apartment building call for 20% studios, 30% one-bedroom units and 50% two-bedroom units. The rents will be on a sliding scale and will correlate with the average median income in the area. The development will also include a garage with 186 spaces, a five-story ALF with 42,550 square feet, and a rooftop therapy and sculpture garden. After receiving feedback from the last community meeting on NoMi in July, the developers also added other amenities suggested by city planners. Among them are a 1,200-square-foot space on the ground floor of the apartment building for exhibits from the Museum of Contemporary Art, as well as a playground for the children and grandchildren of residents. Multipurpose rooms have also been added to each floor for the purpose computer training, card games and yoga spaces, among other activities. Because the project is classified as senior housing, it will be eligible for tax credits.

The developers are hoping to have approvals in hand by September, with construction beginning shortly after. “With an aggressive contractor, the development could be built in 18-20 months,” said Marcus Frankel, president of Bay Harbor Islands-based Frankel Benayoun Architects.

For more information about new developments and available properties in Miami, contact Oceanica Real Estate at (786) 270-1743 or info@oceanicarealestate.com.

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