Plans call for the project, located at 1060 Brickell Ave., toinclude 24,000 sf of on-site retail space as well as an 11-storyparking garage. Condo units will range from 570-sf studios andlofts to 2,500-sf duplex penthouses. Prices range from the low$200,000s to more than $1 million. The developer has named FortuneInternational its exclusive brokerage and sales are set to beginthis fall.

Barnett expects a demand for units in that price range in thisarea, which is becoming more of a 24-hour location. "There are alot of large condo development projects in Miami right now wherethe units are priced at $800,000 and up, and it's not clear whatthe demand for units in that range will be," he says. "We feel thesweet spot in the market is the $200,000 to $500,000 range."

Avenue, which is being designed with a contemporary feel, isscheduled to break ground in the first quarter of next year. Theproject has an estimated completion date of late in the firstquarter of 2007. The developer is currently choosing a generalcontractor.