Terra and Grass River Property Co. have broken ground on a new mixed-use project in Coconut Grove called Grove Central.
Located at 2780 SW 27th Court, the transit-oriented development will include a new 23-story residential tower comprising 402 market-rate, workforce and co-living units; a 1,250-space public parking garage; and approximately 170,000 square feet of retail space anchored by Target. Terra and Grass River expect to complete Grove Central in 2023.
As part of a Miami-Dade County initiative to improve mass transit offerings, the project will include a new bus terminal for Miami-Dade Transit. Terra and Grass River Property entered into a 90-year ground lease with the County, which enables the partnership to build, manage and lease the property.
The developers are building Grove Central in line with the City of Miami’s sustainability, efficiency and green building requirements with Gold Level certification under the National Green Building Standard (NGBS) program. Sustainability features include water-resilient plantings that will be used to absorb storm water, as well as a large cistern that will capture roof runoff or reuse. Additionally, the project includes future capacity for solar energy and battery storage.
The development of Grove Central is expected to create more than 1,500 construction jobs and several hundred permanent full- and part-time jobs. The project is complying with Miami-Dade County’s Responsible Wages and the Small Business Enterprise programs. The mixed-income residential project will have a minimum of 15 percent of the development’s apartment units designated as workforce housing.
The property will also include a tree-lined public plaza that connects with the 13-mile Underline linear park. The design team includes Miami-based Touzet Studio, RSP Architects and Walter Meyer of New York-based Local Office Landscape Architecture.
Terra is a Miami-based real estate development and investment company. Grass River Property is a Coconut Grove, Fla.-based real estate investment and development firm.
Source: REBusiness Online