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EIG obtains approval for apartment towers in North Miami Beach

The Estate Cos., part of Estate Investments Group (EIG), obtained approval for an apartment project in North Miami Beach.

The City Commission granted site plan approval Sept. 15 for Soleste NoMi Beach, which will rise 23 stories at 16395 Biscayne Blvd. As previously reported, the Miami-based developer has the 1.78-acre property under contract from Biscayne Cove LLC. EIG made significant changes to the original development plans, which were approved in 2015 for 32 stories and 480 units.

Soleste NoMi Beach will have 367 apartments, 2,708 square feet of commercial space and 655 parking spaces. EIG said it plans to break ground in the fourth quarter of 2020.

“Soleste NoMi Beach will offer the most comprehensive amenity package in the market and provide luxury rental opportunities at an attainable price point,” said Jeffrey Ardizon, a principal of EIG. “The city of North Miami Beach is in the midst of an exciting revival and we are thrilled to play an integral part in its transformation. This site checks all of our boxes, you cannot replicate an asset like this with so many unique features.”

Units in Soleste NoMi Beach will range from 700 square feet with one bedroom to 1,300 square feet with three bedrooms. Amenities will include a pool deck, a fitness center, a spa, coworking station, and a rooftop garden.

Form Group is the architect.

The site is on the south side of the Royal Glades Canal and just west of the Harbor condominium towers. There’s been an influx of multifamily development on the east side of the city, as it’s close to the Aventura Mall and Sunny Isles Beach.

South Florida Business Journal. September 2020.

https://www.bizjournals.com/southflorida/news/2020/09/18/eig-obtains-approval-for-soleste-apartments.html

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