ZOM Gets Aggressive on Miami Multifamily

MIAMI—Can you say aggressive? ZOM is breaking ground on two multifamily projects in August. One is in North Miami Beach and the other in Doral.

North Bay Village is a 285-unit class AA luxury multifamily community. Located on a 4.5-acre peninsula, the multifamily project offers 1400 lineal feet of waterfront overlooking Biscayne Bay. The multifamily building will rise eight stories.

“Positive dynamics, such as strong employment growth and an unserved demand for a luxury rental apartment product, are creating incredible opportunities to deliver well-conceived, thoughtfully designed rental apartments in South Florida,” says Greg West, ZOM's Chief Development Officer. KAST Construction will serve as general contractor and ZRS Management, LLC has been retained to provide property management services.

At North Bay Village, the architecture is a modern interpretation of Miami Beach's high-style years. The design takes elements from the era of jazzy, more traditionally streamlined Art Deco hotels developed in the 1930s to the more vibrant early 1950s, when architects like Morris Lapidus produced such flamboyant projects as the Fountainebleau Hotel. North Bay Village is being developed through a joint venture with Clarion Partners.

“The Miami multifamily market has recovered dramatically and is one of the most attractive submarkets in the country with apartments in great demand,” says Marc Deluca, managing director at Clarion. “With its dramatic views and great access, we view the project as a terrific development, and a great opportunity to create value for our clients.”

Bel Air at Doral is a 249-unit class AA luxury multifamily development. It is located on 4.2 acres of scenic lakefront land next to the Doral Golf Resort and Spa. The multifamily project will be eight stories.

“The City of Doral has made tremendous strides in fostering sustainable economic growth,” says West. “This is an incredible location, and Miami-Dade County continues to exhibit favorable demographics and economic trends making it a very desirable place to work, live and play.”

Bel Air at Doral's design is a Mediterranean style that incorporates standards George Merrick and Addison Mizner established in Coral Gables and Boca Raton more than 100 years ago. Bel Air at Doral is being developed through a joint venture with an affiliate of The General Investment & Development Companies, “GID.” PNC Bank provided construction loan financing and ZRS Management, LLC has been retained to provide property management services. Suffolk Construction will serve as general contractor.