This development is part of a strategic expansion of MMG’s portfolio into the residential sector. Widely regarded for its success in retail real estate, MMG is leveraging its expertise to create environments that seamlessly integrate commercial and residential uses.
The 36,998-square-foot assemblage at 3350 Biscayne Blvd. has existing zoning approvals for a 172-unit high-rise development.
On January 10, a developer filed Broward County’s first lawsuit under the Act, after the City of Hollywood blocked a proposed 17-story mixed-use development that would bring affordable housing to Hollywood Beach.
The property is situated on a corner lot at the high-traffic intersection of 54th Street and N.W. Seventh Avenue, minutes from Wynwood, Downtown Miami, the Design District and Midtown, making it an ideal location for workforce housing.
The property includes 45,770 square feet of office space, 11,255 square feet of ground-floor retail, and a 40,000 square-foot parking garage, all contributing to a steady income.
Proposed changes are under consideration that would smooth out ambiguities in the law that have been used to push back on proposals as well as tighten rules around project heights and the types of sites that qualify under its provisions.
The listing, which is being handled by CBRE Senior Vice President David Wigoda, says the property offers a turnkey solution for a corporate buyer or it could be redeveloped for office, industrial, retail, hotel or multifamily uses.
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