Karson & Co and Colliers Tapped To Sell Little River TOD Development Site

Arden Karson of Karson & Co along with Mika Mattingly and Cecilia Estevez of Colliers’ Urban Core Division are teaming together again to bring Junction at Little River to market.

Poised to be Miami’s next hottest market, Little River sits at the Junction of Little Haiti to the south, MiMo District to the east, and El Portal to the north. The site is located across the street from the planned Little River Brightline train station.

With 59 units in 8 buildings spread over 2.07 acres, the Junction at Little River is a true covered land play in one of the fastest-growing and most promising South Florida markets. The T-shaped site fronts NE 82nd Street and NE 82nd Terrace and is zoned T6-8-O under the Miami21 code. With zoning bonuses, a new owner can build up to 388 units and 55,000 sf of commercial space.

Zoning allows for a wide array of uses and allows 8-12 stories with over 150 units per acre. Junction at Little River also sits less than 100 feet from the planned Brightline station on 79th Street, granting the property an official TOD designation which allows up to a 30%-50% reduction in parking requirements.

The area has high-density demographics, with over 160,000 residents living within a 3-mile radius and over 460,000 people within a 5-mile radius. Junction at Little River offers residents access to some of Miami’s hottest venues, such as The Andersen, Heartland, and The Citadel.
This listing is the second transaction where the female team of Arden Karson, Mika Mattingly, and Cecilia Estevez have joined forces.

According to Karson, “Mika, Cecilia and I are enjoying collaborating and representing clients in the emerging neighborhoods in Miami.” Mattingly corroborated, “Junction at Little River is one of the most exciting assemblages on the market today. With income in place and flexible zoning, a buyer has many different development options as well as strong income in place to cover carrying costs.”

 

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