Grove Central, located at the intersection of US-1 and SW 27th Avenue, includes a 23-story residential tower with 402 multifamily, workforce and co-living units, a new 1,250-space public parking garage, and approximately 170,000 square feet of neighborhood retail.
The project consists of 244 one- and two-bedroom units dedicated to affordable and workforce housing. Among these, 40 percent cater to low-income seniors, while the remainder is allocated to residents earning up to 120 percent of the area’s median income.
The wellness-forward condo-hotel project is more than 50 percent sold, with this milestone paving the way for a 2025 delivery in Miami’s Brickell neighborhood.
Colliers Vice President Virgilio Fernandez represented the seller and the buyer in the transaction.
Completion is estimated for Q2 2024.
The 41-story mixed-use development will bring 306 condominium residences and 245,000 square feet of Class-A office space to Downtown Miami.
The portfolio of 96 properties includes rental apartments, single-family homes, an office condo unit and a developable site zoned for a three-story rental building.
The project includes 663 units located at the entire block that includes 901 E 26th Street.
The site is expected to complete and obtain master permitting within four months.
Crescent Heights is developing the project, which will comprise 588 apartments in studio, one-, two-and three-bedroom layouts, as well as ground-floor retail space, including a 42,030-square-foot Whole Foods Market store.