Coastland plans 371-unit rental project with workforce housing near Tropical Park, amid swell of below-market proposals
Coastland plans 371-unit rental project with workforce housing near Tropical Park, amid swell of below-market proposals
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Coastland Residential plans a 371-unit multifamily project with workforce housing near Miami-Dade County’s Tropical Park, as developers continue to bet on below-market apartments.
Pinecrest-based Coastland wants to build an eight-story building with 7,500 square feet of retail at 4201, 4321, 4351 and 4383 Southwest 75th Avenue in an unincorporated area of the county, according to an application filed to Miami-Dade last month. The site is in the Glenvar Heights neighborhood.
Coastland has the 5-acre site, now home to a collection of warehouses, under contract for an undisclosed price. Norle Properties Corporation and Leal Capital Trust 2, both of which are led by Jose and Leonardo Leal, own the property, records show.
(Corwil Architects)
(Corwil Architects)
At the proposed building, 55 of the apartments will be designated for households earning no more than 120 percent of the area median income, said Anthony Seijas, Coastland co-founder and president.
Miami-Dade’s annual AMI is $79,400, according to the Florida Housing Finance Corporation.
Coastland is seeking administrative site plan approval from the county, the application shows.
The project will be the first portion of a two-phase multifamily development that Coastland plans. In total, the firm wants to build about 780 units, though this number can change as designs are modified, Seijas said. The second phase would rise on the site of warehouses immediately south of the first phase’s development site.
The area is morphing into a live-work-play neighborhood with an “industrial flair” that is reminiscent of Miami’s Wynwood neighborhood in its early stages of redevelopment, Seijas said.
Wynwood, originally a garment district, was redeveloped about a decade ago and became internationally known for its industrial feel, art galleries and graffiti. It’s now experiencing a second wave of redevelopment, which is promising to transform the traditionally low-rise and mid-rise neighborhood with new high-rises.
Coastland, which Seijas leads with co-founder and principal Alejandro Rodriguez, is a real estate investment and development firm, its website shows. It has a portfolio of over 5,000 multifamily units.
Last year, Coastland dropped $38 million for the 7.8-acre development site at 1556 Northwest 110th Street in Doral, with plans for a 10-story, 690-unit apartment project.
South Florida developers have seized on the high demand for below-market rate units. While the tri-county region for years has struggled with a lack of affordable housing, the issue was exacerbated by an influx of out-of-staters and ensuing record rent growth from 2020 to 2022.
Elsewhere in Miami-Dade, the Pérez family’s Related Group’s affordable housing division plans a 12-story, 316-unit public housing building at 860, 930 and 950 Northwest 95th Street in West Little River.
780 apartments could replace Miami-Dade warehouses
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A developer could demolish eight warehouse buildings near Tropical Park in Miami-Dade County in order to build a pair of apartment buildings.
Miami-based Coastland Residential filed a pre-application with county officials concerning 9.1 acres from 4201 to 4383 S.W. 75th Ave., 4431 to 4519 S.W. 75th Ave. and 4500 S.W. 74th Ave. The builder has the property under contract from Norle Properties Corp. and Leal Capital Trust.
Trending: 286 apartments, retail planned at Tri-Rail station
These are actually two development sites, one for each building, and they are not connected. The warehouse at 4421 S.W. 75th Ave., which is not part of this application, would be in between them.
The warehouses that would be demolished were built in the 1970s and 1980s. They total 230,580 square feet of warehouse space.
The property is on the east side of the Palmetto Expressway/State Road 826, just south of the Bird Road exit.
Under the proposal, the project would total 780 apartments in 825,000 square feet, 8,553 square feet of retail and 1,370 parking spaces. Each building would rise seven stories and have its own pool, plus a 12,100-square-foot amenity center.
Jorge L. Vera of DEV Associates, which represents the developer in the application, couldn’t be reached for comment. Corwil Architects designed the project.
The northernmost building would have 400 apartments and 670 parking spaces, while the southernmost building would have 380 apartments, 8,553 square feet of retail and 700 parking spaces.
The apartments would range from 540 to 1,255 square feet. There would be 53 studio apartments, 368 one-bedroom units, 41 one-bedroom units with dens, 292 two-bedroom units, and 26 three-bedroom units.
Developers file pre-applications to receive feedback from county staff before submitting official applications.
Coastland Residential is led by Anthony Seijas and Alejandro Rodriguez. It previously developed Vista Lago in Miami Gardens and the Colonnade Dadeland. In 2023, it acquired a development site near the Dolphin Mall.
While there’s been strong demand for warehouse space in Miami-Dade County, property is still more valuable as multifamily because of strong rental rates.
Coastland Residential Starts Construction of 83-unit Development in Palmetto Bay, FL
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Amidst the vibrant landscape of Miami-Dade County, Coastland Construction, in partnership with Coastland Residential, has embarked on an exciting endeavor. The Addison, a captivating residential development, has broken ground and promises an exceptional living experience. The South Florida Business Journal reports that this remarkable rental community will encompass 83 units thoughtfully spread across 13 stylish buildings. Comprising of both two-story and three-story structures, The Addison is set to redefine modern living in Palmetto Bay.
Embrace Modern Living at The Addison in Palmetto Bay
Discover a new level of comfort and convenience at The Addison in Palmetto Bay. This exceptional community offers a selection of three-bedroom and four-bedroom floorplans designed to meet your needs. Each residence is thoughtfully crafted with integrated smart home technology, ensuring that you can effortlessly control and monitor your living space. Additionally, the use of hurricane-grade building materials provides peace of mind and protection.
Aside from the remarkable features within each home, The Addison also boasts an array of enticing communal amenities. Take your furry friend for a playdate at the on-site dog park, or conveniently collect your Amazon packages from the lockers provided. If you’re in the mood for some outdoor relaxation, the recreational green space is the perfect spot to unwind and enjoy the fresh air.
The developers have carefully considered the needs of multi-generational families. Ground floor bedrooms are thoughtfully equipped with attached bathrooms, making it easier for everyone to find their own space. The Addison promises a harmonious living experience for all family members.
Construction of this remarkable 83-unit community is currently underway, with an expected completion date in September/October 2024. Don’t miss out on the opportunity to embrace the modern lifestyle at The Addison in Palmetto Bay.
A New Era of Possibilities in Palmetto Bay
Excitement fills the air as Google Earth’s latest imagery captures the transformation taking shape in Palmetto Bay. Nestled in Miami-Dade County, a vibrant community is set to emerge as The Addison comes to life at 18185 SW 98th Avenue. While the fate of the existing residential buildings remains uncertain, their presence signifies the dawn of a new era. Imagination runs wild with the anticipation of what this prime location will offer.
The Addison is poised to redefine modern living with its thoughtfully designed at-market-rate units. As we wait for official confirmation from our sources, one thing remains clear – the future residents of Palmetto Bay will experience a premium haven. Offering the finest blend of comfort and style, these residences will reflect the dynamic character of this thriving neighborhood.
The allure of Palmetto Bay goes beyond its captivating surroundings. According to Rentcafé, the average rent for a 797-square-foot apartment in this highly sought-after area was $1,922 per month. This information paints a picture of a vibrant community that values quality living.
Promising convenience, The Addison’s location is strategically positioned just east of the Ronald Reagan Turnpike, and a stone’s throw away from Palmetto Bay Park. Residents will revel in an abundance of outdoor recreational activities and easy access to major transportation routes.
The Addison represents an exciting chapter in Palmetto Bay’s development story. With its progressive vision and commitment to enhancing the local landscape, this new construction project will pave the way for a promising future. As the old makes way for the new, a wave of possibility surges through the community, leaving us eagerly anticipating the unveiling of The Addison.
Construction Commences On The Addison In Palmetto Bay At 18185 SW 98th Avenue, Palmetto Bay, FL
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Coastland Construction, an affiliate of Coastland Residential, has broken ground on The Addison in Palmetto Bay, a residential development in Miami-Dade County. Per the South Florida Business Journal, the rental community will offer 83 units spread across 13 two- and three-story buildings.
Floorplans include three-bedroom and four-bedroom options. They come with integrated smart home technology, garages, and hurricane-grade building materials. Coastland Construction’s website notes that communal amenities will include a dog park, on-site Amazon lockers, and recreational green space.
The Miami-based developer notes that The Addison in Palmetto Bay “makes multi-generational living easy,” as ground floor bedrooms come with attached bathrooms. As noted, the 83-unit community is under construction, with completion planned for September/October 2024.
Google Earth’s most recent renderings show some residential buildings on the build site. These will likely be demolished to make way for new construction. The Addison in Palmetto will likely be at-market-rate units, although this hasn’t been officially confirmed by our sources.
Per Rentcafé, the average rent for a 797-square-foot apartment in Palmetto Bay was $1,922 a month. The Addison in Palmetto Bay is unfolding at 18185 SW 98th Avenue, Palmetto Bay, FL, 33157, in Miami-Dade County. It will be east of the Ronald Reagan Turnpike and south of Palmetto Bay Park.
City National Bank lends $24M to build townhouse community
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A developer broke ground on a rental townhouse community in Palmetto Bay after securing a $23.9 million construction loan.
Miami-based City National Bank of Florida providing the mortgage to Palmetto Bay TH LLC and Palmetto Bay Coastland LLC, with the guarantors listed as Anthony Seijas, Alejandro E. Rodriguez, Joel Vigo Jr., and Herbert Jordan. It covers the 3.5-acre site at 18185 S.W. 98th Ave.
The developer recently filed notice with Miami-Dade County that it started work on 83 rental townhouses at the project. The general contractor is Pinecrest-based Coastland Construction Management, which lists Rodriguez as its president.
Townhouse rental rates have been rising in the county as larger families find few large apartments available for rent. With interest rates high, it’s difficult for many families to purchase a townhouse, so renting has become a better option.
Coastland Residential pays $38M for Doral multifamily dev site
Nearly 8-acre property approved for 10-story project with 690 apartments
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Coastland Residential dropped $38 million for a Doral development site that is approved for a multifamily project.
The Miami-based multifamily development and investment firm acquired 7.8-acres at 1556 Northwest 110th Street, where Coastland can build a 10-story project with 690 apartments, according to a press release.
David Duckworth and Michael T. Fay led an Avison Young team that marketed and sold the development site.
The seller, an affiliate of Boca Raton-based Procacci Development Corp., paid $3.1 million for the vacant site near Dolphin Mall in 2020, records show.
Touchdown! Housing development near Hard Rock Stadium scores $38M loan
Coastland bought the property for $5M in 2018
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The developer of a planned housing development of 113 townhouses and 288 multifamily units in Miami Gardens scored a $38.3 million construction loan.
A company affiliated with Coastland Construction landed the loan for the project on about 36 acres at Northwest 207th Street & Northwest 7th Avenue, according to records. That’s east of Hard Rock Stadium, home of the Miami Dolphins and University of Miami Hurricanes football teams.
The development, called Vista Lago, will feature 11 three-story apartment buildings, with amenities to include a clubhouse, gym, toddlers park and pool overlooking a 6-acre lake. The first units are expected to be completed in July, according to Leonardo Ambard of Coastland Construction.
Ocean Bank is the lender. Earlier this year, the Miami bank provided an $810,000 construction loan for a rental development in Little Havana and a $67 million loan to refinance 13 Investments Limited properties in the region.
In May, Ocean Bank listed a 3-acre site near Le Jeune Road in Miami by its headquarters that could be developed into a mixed-use project.
Coastland, based in Pinecrest and led by President Alejandro “Alex” Rodriguez, bought the Vista Lago property in 2018 for $4.9 million, according to records. The property housed a television antenna complex for decades.
In October, the company paid the city of Miami Gardens $10 for land related to the project, according to records.
Coastland is also the builder of a $26 million Opa-locka development geared toward affordable housing. The developers secured a loan for that project in September.
Coastland Residential Awarded DR Horton Outside Developer of the Year 2023
