Luxury Apartments Planned South of Miami
Multifamily developer Estate Investments Group (EIG) is moving ahead with plans to build a 200-unit luxury apartment project in Palmetto Bay, FL, south of Miami. The five-story Soleste Bay Village will rise at 18301 S. Dixie Hwy. Delivery is expected in the second quarter of 2020. "Miami’s residential market still has plenty of gas in the tank," Robert Suris, principal of EIG, said in a statement. "Everyday there are more and more families in need of top-tier housing, which is in turn leading to significant growth throughout historically unnoticed locations." Suris wrote in an email that rents have not yet been set, but the development will have amenities that include a pool with sun deck and private cabanas, a cyber café and gaming zones, spin room, yoga studio and a fitness club. Suris cited Palmetto Bay's new downtown zoning code that will enhance the community and open the downtown to more residents and pedestrians. "Our company is excited to be part of this change and offer housing options that weren’t there before," Suris wrote. "The need for housing continues and the 'forward-thinking plan' of the village will ensure the success of the project." Miami-based EIG bought the three-acre site for $4.4 million from Cornerstone United Methodist Church. The church needed more space and will build a larger building on Old Cutler Road, according to Suris. He said demolition will begin in a week, followed by groundbreaking. EIG has four other projects in the pipeline across South Florida: the 338-unit Soleste Twenty2 and the 306-unit Soleste Alameda, both in West Miami; and the 330-unit Soleste Blue Lagoon and the 100-unit Soleste Park View, both in Miami.