The Estate Cos. won unanimous approval from North Miami Beach officials for its second apartment tower in the city.
Soleste on the Bay would rise 28 stories on the 2.15-acre site at 16375 Biscayne Blvd. The developer plans to break ground in the fourth quarter of 2022.
Totaling 759,439 square feet, the project was approved for 363 apartments, 17,000 square feet of commercial space, and a 645-space parking garage. The apartments would range from 550 square feet with one bedroom to 1,250 square feet with three bedrooms. There would be a 10th-floor amenity deck with two pools, a game room, a yoga room, a spinning room, a fitness center, a lounge and a movie room.
Miami-based Form Group designed Soleste on the Bay. Attorney Ethan Wasserman of Greenberg Traurig in Miami represented the developer in the process.
The developer acquired the property for $21.3 million in late 2021 and will demolish a restaurant building.
Right next door, the Estate Cos. is building the 23-story Soleste NoMia Beach apartments.
The Estate Cos. is one of the most prolific multifamily developers in South Florida. It has more than 4,000 apartments and 153,000 square feet of commercial space in its development pipeline in South Florida.
August 2022. South Florida Business Journal.