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East Little Havana Development Site

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East Little Havana Development Site EAST LITTLE HAVANA DEVELOPMENT SITE MULTIFAMILY PROJECT 67,500 SF BUILDING SIZE AVAILABLE WITH T4-R ZONING PERMITS MAURICIO VILLASUSO C: 305 340 8901 E: [email protected] PROPERTY SUMMARY 37,500 SF U r b a n C o r e D e v e l o p m e n t S i t e i n t h e H e a r t o f LOT SIZE M i a m i , 3 7 , 5 0 0 S F o f T 4 - R l a n d . S i t e h a s 3 s t r e e t f r o n t a g e s a n d f a c e s N W 1 0 t h A V , N W 4 t h S T a n d N W 3 r d S T , p r o v i n g f o r u n p a r a l l e l e d v i s i b i l i t y a n d e a s e o f i n t e r i o r c i r c u l a t i o n s / d e s i g n . M i a m i i s T4-R ZONING s u f f e r i n g a c r i s i s o f m i d d l e a n d w o r k i n g - c l a s s h o u s i n g , a n d L i t t l e H a v a n a i s u n i q u e l y p o i s e d t o p r o v i d e a n a n s w e r f o r t h a t n e e d . L i t t l e H a v a n a i s c e n t r i c t o a l l t h e m a j o r e m p l o y m e n t c e n t e r s o f 67,500 SF o u r c i t y , h a s t h e c i t y ’ s b e s t p u b l i c t r a n s i t BUILDING SIZE c o n n e c t i v i t y , i s i n c r e a s i n g l y s e r v i c e d b y g r e a t n e w l o c a l r e s t a u r a n t s a n d b a r s , i s h i g h l y w a l k a b l e , h a s g r e a t a c c e s s i b l e p a r k s a n d 31 BY RIGHT s t r e e t s c a p e s a n d r e t a i n s a h i g h l e v e l o f OR 62 WITH BONUS a f f o r d a b i l i t y . UNITS *Unique opportunity site can qualify for zoning variance by right to the next mixed- use T5 zoning transect under Miami 21 for 65 units/acre. PROPERTY PROPERTY ADDRESS FOLIO 3 0 2 N W 1 0 A V 0 1 - 4 1 0 2 - 0 0 5 - 1 5 0 0 PROPERTY ASSEMBLAGE 3 1 2 N W 1 0 A V 0 1 - 4 1 0 2 - 0 0 5 - 1 4 9 0 3 2 0 N W 1 0 A V 0 1 - 4 1 0 2 - 0 0 5 - 1 4 8 0 PRICE 3 2 6 N W 1 0 A V 0 1 - 4 1 0 2 - 0 0 5 - 1 3 3 0 $3,275,000 3 3 6 N W 1 0 A V 0 1 - 4 1 0 2 - 0 0 5 - 1 3 2 0 3 4 4 N W 1 0 A V 0 1 - 4 1 0 2 - 0 0 5 - 1 3 1 0 2 4 4 N W 1 0 A V 0 1 - 4 1 0 2 - 0 0 5 - 1 5 1 0 PROPERTY LOCATION WYNWOOD ALLAPATTAH MIAMI INTL AIRPORT EDGEWATER HEALTH DISTRICT MIDTOWN BECKHAM STADIUM PROPERTY LITTLE HAVANA MARLINS PARK DOWNTOWN BRICKELL CITY CENTER BRICKELL FINANCIAL DISTRICT 5.4 miles to Miami International Airport CORAL WAY CORAL GABLES 1.7 miles to Downtown UNIVERSITY OF MIAMI 1.2 miles to Calle 8 COCONUT GROVE Little Havana Is a booming neighborhood located in the heart of Miami. It is home to delicious restaurants such as LITTLE Versailles, trendy bars like Casa Florida, and outstanding dessert venues like HAVANA Azucar. It is currently attracting a diverse number of startups, new retail, trendy restaurants, bars, galleries, recreational activities and others. The neighborhood has been on a steady rent growth over the past few years, many new developments have added value to this enchanting neighborhood, making it one of the most visited areas in Miami. "Calle 8" is famous for its concentration of immigrants, it has quickly become a must stop for tourists in Miami, seeking great nightlife and a multicultural experience in iconic places such as Ball & Chain. It has also become a destination for locals seeking new restaurants and hip lounges. It's monthly celebration: Viernes Culturales, is one of the most visited events in the area. LITTLE HAVANA FACTS 470,914. 42 MIAMI'S MEDIAN AGE POPULATION 80,871. +$55,000 LITTLE HAVANA'S AVG INCOME POPULATION 30,069. HOUSEHOLDS NEIGHBORHOOD AMENITIES TRANSIT PROXIMITY TO PUBLIC TRANSPORTATION Bus #6, #7, #8, #11, #207, or #208 from Downtown Miami. Bus #11, #207, and #208 can be picked up at the Government Center MetroRail /MetroMover station, Bus #6 and #8 can be picked up near the Brickell MetroRail/MetroMover station. Bus #7 comes from Downtown Miami, stopping at the College North MetroMover station and the Overtown MetroRail station. Bus #37 and #42 buses come from Miami International Airport. The property is 0.6 miles walking distance from Government Center Metromover Station. It is an 10 minute ride to/from Brickell, Downtown, and Coral Way. The City of Miami Trolley has a route in Little Havana. To the left, a map indicating the Trolley stops around the neighborhood. The Trolley operates from 6:30 am – 11:00 pm on weekdays, from 6:30 am – 11:00 pm on Saturdays, and from 8:00 am – 8:00 pm on on Sundays. NEW DEVELOPMENTS THE GALLERY ON THE RIVER RIVER LANDING MIAMI RIVER WALK Related Group's latest project, 401 One of the largest projects under Mast Capital's 6.31 acre development Northwest North River Drive development construction in Miami. Expected to site to developed approximately 700 will cost $44.5M. Over 160 units expected open on 2020. It has approximately units in two phases. Located on the to be offered at an affordable price point, 475 units for residencies, 150,000 sq ft Miami River within 1.5 miles of the 11 of which will be set aside for public office space, and 315,000 sq ft for Downtown & Brickell. housing. retail. RIVER LANDING A MILL CREEK MODERA RIVER HOUSE B C RIVERVIEW ONE MIAMI RIVER WALK D F BRICKELL WEST CITY G E FIRST AND SIXTH INTOWN GREYSTAR RENT COMPARABLES MILTON BRICKELL WEST CITY 729 NW 2ND ST TYPE RENT SQ FT RENT PSQFT 1BD/1BA $1,685 874 $1.93 2BD/1BA $2,245 1,193 $1.88 3BD/2BA $3,860 1,497 $2.58 MILL CREEK MODERA RIVER HOUSE 1170 NW 11 ST TYPE RENT SQ FT RENT PSQFT STUDIO $1,915 598 $3.26 1BD/1BA $2,005 692 $2.90 2BD/2BA $2,700 1,038 $2.60 RIVERVIEW ONE APARTMENTS 645 NW 1 ST TYPE RENT SQ FT RENT PSQFT INTOWN GREYSTAR* 1BD/1BA $1,585 702 $2.26 2BD/2BA $2,270 986 $2.30 1900 SW 8TH ST TYPE RENT SQ FT RENT PSQFT FIRST & SIXTH 1BD/1BA $2,010 660 $3.05 35 SW 6 AVE 2BD/1BA $2,314 961 $2.41 TYPE RENT SQ FT RENT PSQFT 3BD/2BA $2,671 1,176 $2.27 STUDIO $1,625 325 $5.00 1BD/1BA $1,950 718 $2.72 *GREYSTAR MANAGES OVER 500,000 UNITS GLOBALLY 2BD/2BA $2,560 1,139 $2.25 OVERVIEW OF BENEFITS AFFORDABLE Density: HOUSING Units can be Doubled as compared to what normally would be DEVELOPMENT permitted by right. SPECIAL Parking: 100% parking elimination available BENEFIT Falls within a TOD PROGRAM Impact Fees: City impact fees can be deferred by up to 10 years. The impact fee sum will not accrue any interest or charges, and will be the same as at the time of origination. Rent Controls: To double density: 80% of units must be rented at below 140% AMI (does not hurt revenues in Little Havana) 10% of Units must be rented at below 50% AMI 10% of Units must be rented at below at Extremely Low Income STUDIO 1 BED 2 BED 3 BED 140% AMI 2,075 2,224 2,670 3,083 50% AMI 741 794 953 1,101 30% AMI 444 476 572 660 BUILDING SETBACK A.
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