A vacant block along Grand Avenue in the historically Black neighborhood of west Coconut Grove in Miami could be developed with a mixed-use project.
The city’s Urban Development Review Board will consider plans for the 2.4-acre site at 3520 to 3574 Grand Ave., 3509 to 3587 Thomas Ave., and 3410 to 3428 Hibiscus Street on June 20. Grove Bimini Nassau QOZB LLC, managed by Sankesh Abbhi, the head of Miami-based private equity firm Abbhi Capital, owns the property. It’ is in a qualified opportunity zone, so there could be federal tax benefits for developing there.
This is one of six mostly vacant blocks in west Coconut Grove, covering 12 acres, that the city approved in 2011 for 349 apartments and a mix of 750,940 square feet of commercial/office space. Each block of Grove Village was named after an island in the Bahamas, paying homage to the people who moved from the Bahamas to Coconut Grove and played an integral part in building Miami in the city’s early years. So far, no development has taken place on any of the six blocks, but that could soon change.
Grove Bimini Nassau QOZB wants to amend the plans for the Bimini block of Grove Village. The five-story building would total 339,735 square feet, with 176 residential units, 26,182 square feet of commercial space and 348 parking spaces. There would be 3,970 square feet of amenities on the ground floor plus a pool with another 1,745 square feet of amenities on the second floor. The residential units would range from 705 to 1,255 square feet.
Local attorney Carlos R. Lago, who represents the developer in the application, couldn’t be reached for comment. Miami-based Arquitectonica designed the project.
“This request seeks to refine the architectural design of the Grove Village Bimini Block Project in a manner that also enhances and promotes pedestrian activity at the Property and surrounding areas,” the developer stated in the application. “Specifically, it modifies the proposed structures by increasing the amount of open space and promoting pedestrian interaction by creating a large pedestrian plaza area fronting Grand Avenue and by orienting additional retail bays onto Grand Avenue, the main pedestrian route and principal frontage.”
There’s been more redevelopment in west Coconut Grove in recent years, as the luxury housing developers are buying older homes and constructing more expensive, modern housing. That has brought more wealthy residents to the neighborhood, but some of the older residents have been displaced.
Source: SFBJ