Related Group has the approval for construction of the luxury condo tower One Island Park on Miami Beach’s Terminal Island moving along nicely. To gain the city’s support, the company is proposing to also build a new 50,000-square-foot city fleet maintenance and sanitation facility at no cost to taxpayers.
Recently, the City of Miami Beach Commission collectively voted to indicate the proposal to the City’s Land Use and Development Committee.
“We are pleased with the ‘Commission’s vote to move One Island Park forward in the review process and look forward to delivering a new, upgraded City maintenance facility at no cost to taxpayers,” said Jon Paul Perez, Vice President, Related Group. “Our plan will bring a boutique residential building that will reduce the impact on traffic for surrounding areas, compared to the ‘land’s current industrial and office zoning, which only allows for developments that significantly increase traffic.”
Related also informed that the new building would generate more than $2.9 million in annual tax revenue to the city compared to only $10,500 right now. The developer additionally informed that the proposed zoning change as lower intensity and could result in less traffic than what is currently supported.
One Island Park is proposed to include 90 residential units; Arquitectonica is the architect.