Developer Harvey Hernandez’s Newgard Development Group has plans for a 352-unit building at 151 SE First Street, the Miami Herald reported.
The project will have “very small units, very cool lofts, with a really nice restaurant on the ground floor,” Hernandez told the Herald. “We think it will be attractive to a number of people, because the price point will be very low… we don’t have to build parking, so we can pass the savings on.” The unit pricing has yet to be disclosed.
The Related Group had previously planned to build its Loft 4 project on the site, before the financial crisis.
Although there will be no parking for residents, the building will be located near Metromover’s Knight Center station.
Newgard is also working on 46-story condo project BrickellHouse at 1300 Brickell Bay Drive.