(Read more on the multifamily market.)

MIAMI-Urbanice Modern Life Developers is developing PuertoNuevo, a 98-unit work force housing project at 1144 N.W. SouthRiver Dr. Urbanice is a joint venture between Atlanta-based WoodPartners and South Florida-based ARKS LLC.

The nine-story project on the Miami River will contain one- andtwo-bedroom units that range in size from 586 sf to 998 sf withprices ranging from $185,000 to $320,000. The estimated sell-out ofthe project is $25 million, Wood Partners development managerCharlie Morris tells GlobeSt.com.

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