Black Salmon, led by developer Camilo Lopez, is teaming up with the Allen Morris Company for a substantial mixed-use project valued at $1 billion in the Miami Health District.
What to expect from this partnership: Their collaborative effort, Highland Park Miami, is slated for a 7-acre space and is anticipated to encompass 500,000 square feet dedicated to medical offices, 1,000 apartments, a 150-key hotel, as well as retail spaces and green areas, as per Lopez. The project, featuring structures potentially reaching up to 22 stories, will be constructed in stages over the next ten years. The Black Salmon and Allen Morris Company partnership has enlisted Arquitectonica to work on the project's design.
How the project came to be: Lopez described a meticulous acquisition process spanning a decade, stating that he had gone 'block by block and house by house' to secure approximately 50 properties constituting four city blocks. The acquisition cost for land near the Metrorail amounted to approximately $60 million. Utilizing transit-oriented development zoning, the developers intend to enhance the development's density.
Location, location, location: The developers believe that the development could augment the health district's footprint by 10%. The location is strategically situated near major hospital systems such as Jackson Memorial Hospital, the University of Miami Leonard M. Miller School of Medicine, and the Miami VA Medical Center. The site, positioned at 800 Northwest 14th Street, lies south of the hospitals and State Road 836, encompassing single-family residences and vacant plots.
What’s the next step: Presently in the entitlement process with the city of Miami, the developers plan to commence site clearance in late 2023, affirmed Lopez and Spencer Morris, president of Allen Morris Co. Groundbreaking for the initial phase is expected to occur in 2024.
Got News?