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Another day, another residential tower proposed in Miami’s Edgewater neighborhood.
A joint venture between SB Development and Hazelton Capital Group has submitted plans for a 55-story multifamily high-rise at 419 NE 19th Street, just west of Margaret Pace Park.
The 553,673-square-foot development would replace a three-story condo building, which the developers bought out last year, paying $12 million in total, according to the South Florida Business Journal. The site spans about a third of an acre.
The plans call for 463 units, ranging from 403-square-foot studios to 2,322-square-foot four-bedroom units. The residential component would start on the 11th floor, above a three-story amenity section. A pool would be situated on the building’s rooftop.
Because the property is near public transit stops and sits within the Urban Central Business District, the developers are seeking a variance to include just 172 parking spaces. Zoning rules call for one parking spot per unit.
Miami’s Urban Development Review Board will hear the application on Wednesday.
The project marks the second for SB and Hazelton in Edgewater. A mile north of the proposed tower at 496 NE 29th Street, the pair announced plans for Cove, a 40-story luxury condo building. Sales kicked off in June, with prices starting at $1.3 million.
SB and Hazelton are among a stream of developers with residential plans in the Edgewater market. Next door to Cove, Terra and One Thousand Group are in the early stages of developing the Major Food Group-branded condo skyscraper.
And next door to the newly proposed development, Mill Creek Residential filed plans to erect a 31-story high-rise, while Two Roads Development is working on the Edition-branded condo complex.
Julia Echikson can be reached at jechikson@commercialobserver.com.
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