South Beach property could become condo

October 18, 2017

South Beach property could be redeveloped into 10-story residential building

A South Beach building just a block south of famed Lincoln Road could be redeveloped into a 10-story multifamily project.

On Oct. 24, the city’s Planning Board will consider the application of 420 Lincoln Road Development LLC to redevelop the 16,200-square-foot lot at 1600 Washington Ave. It currently has a 15,430-square-foot retail building constructed in 1938.

Two neighboring buildings are also owned by 420 Lincoln Road Development LLC, which is owned by Paul Cejas. He’s the CEO of PLC Investments and the former U.S. ambassador to Belgium.

The development plans call for a 10-story building totaling 180,891 square feet. It would have 134 residential units totaling 111,254 square feet, ground-floor retail of 12,863 square feet, and a rooftop pool deck. The developer would utilize 237 parking spaces in the existing garage at 1601 Drexel Ave. for the building’s patrons.

The residential units would range from 560 square feet with one bedroom to 1,187 square feet with two bedrooms. The average size would be 1,100 square feet.

Stantec is the architect of the project.

Miami attorney Michael W. Larkin, who represents the developer, couldn’t immediately be reached for comment.

“The project will be significantly more suitable and appropriate for the bustling neighborhood and satisfy the needs of changing climates and sea level rise,” the developer stated in its application.

The project would also need approval from the city’s Historic Preservation Board at a later date. – Brian Bandell

Published October 18, 2017 in South Florida Business Journal

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