(To read more on the multifamily market, click here.)

MIAMI-Urbanice Modern Life Developers is developing Aqua Briza, a 57-unit, nine-story condominium tower at 637 NW 1st St. Urbanice is a joint venture partnership between locally based builder ARKS LLC and Atlanta-based Wood Partners.

The project will feature one- and one-bedroom with den units ranging in size from 600 to 820 sf with balconies ranging from 120 to 150 sf. Locally based Fortune International is handling sales for the project. Prices for the units start from $195,000. The project is expected to break ground within six months with completion anticipated for the first quarter 2009. The estimated sell-out of the project is $13 million, ARKS development principal Arnaud Karsenti tells GlobeSt.com.

The project will be located two blocks from the Miami River in east Little Havana. It is in close proximity to Downtown Miami and the Government Civic Center. It is also within easy access to Miami’s medical facilities, including Jackson Memorial Hospital, Cedars Sinai, Bascom Palmer Eye Institute and the University of Miami Campus and its School of Medicine.

“The project is located in the culturally rich area of Little Havana and caters to the employment centers in the city, such as Brickell and the Financial District,” Karsenti says. “It will cater to young professionals seeking affordable housing.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt. Multifamily Fall 2024Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.