Last fall, developers Magellan Development Group and Midtown Development announced that they were backing away from their plans to build a condo tower, Midtown 6, down the street from the Midtown 4 condominium. Since then, the vacant land, located on the 3100 block of Northeast First Avenue, has been used for Art Miami and Art Wynwood exhibit tents on occasion. But long-term plans for the 2.14-acre property have finally been announced, but this time, developers are taking the rental route.
Magellan and Midtown are again teaming up to build a 447-unit apartment building using the same name, Midtown 6. Plans for the project, which is slated to break ground early next year, include 32-stories with ground-floor retail. While plans for this project are finalized, the two developers are well underway on construction of their 400-unit Midtown 5 rental project located at 3201 Northeast First Avenue. In addition to Midtown 5, several other rental developments are popping up around Midtown Miami, including Wharton Equity Partners and Mack Real Estate Group’s District 36 rental building. 700 rental units have also been approved on a 6.6-acre site at 3010 Northeast First Avenue, where AMLI Residential, one of South Florida’s largest rental developers, plans to build.
For more information about rental properties in, and around, Miami, contact Smart Condo Management, or visit our website, www.smartcondomanagement.com.
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