Alipearl’s PPG Development wants to build an apartment complex on the Nova Southeastern University campus in North Miami Beach. Genuine Have learned.
According to Pearl, the plan is a market-priced complex of approximately 700 units with indoor and outdoor facilities on 8.8 acres of land on 167th Street in Northeast, 1750 and 1775. TRD.. Matt Press from EquiShares and Isaac Khabie from ARK Ventures are project partners.
The development will be built under existing zoning, allowing for 3- to 8-story buildings. The project application has not yet been submitted to the city.
“We are building a new residential area. This area hasn’t been seen for years,” Pearl said. “It’s big enough to create a new community and something really special within the existing fiber of North Miami Beach.”
Pearl, the founder of Harlandale Beach-based PPG Development, worked with Press and Khabie to scoop up three buildings and vacant lots from Dezer Development in April. $ 31.1 million.. Dezer purchased campus from NSU in 2018 $ 20 millionThe record is displayed.
NSU with main campus in Davie, We rent about 10% of the property in one building. According to Pearl, the school will move out next summer when it runs out of debt.
Paid by Resia, formerly known as AHS Residential $ 57 million For 17.8 acres of vacant lot in March on the southeast corner of Northeast 159th Street and West Dixie Highway in North Miami Beach. Most vacant sites have been approved for 2.5 million square feet of multipurpose projects since 2018, including homes, offices and retail stores. Resia has not yet announced plans for this property.
Carpe Real Estate Partners also plans to build 440 units on 26 floors. Venus Projected on 2050 Northeast 164th Street in North Miami Beach after receiving city approval in March.