Terra Group expects to break ground soon on a major mixed-use development in Doral, including 300 single-family homes and a grocery-anchored shopping center.
Separately, the Miami developer said it recently acquired four parcels on the edge of Miami’s Midtown/Design District near 36th Street and Biscayne Boulevard through Terra Skylar Investments, a new venture formed with partners Avra Jain and Joseph Del Vecchio, giving it a foothold in a rapidly emerging hotspot.
The Doral Commons project — which will span more than 90 acres between Northwest 97th Avenue and Northwest 107th Avenue on the north side of 74th Street — will be the first project to break with the Mediterranean-style architecture for which the city is known.
“We’re going to be doing modern architecture for the first time in the city of Doral. We plan to have clean lines with a lot of glass. It will be very interesting architecture,” said David Martin, Terra’s president and chief operating officer.
The 3,000- to 4,000-square-foot homes planned for two gated communities will start in the $600,000s, with larger homes in the $1 million range.
Pascual, Perez, Kiliddjian & Associates will be the architect for the Doral project, Martin said.
Terra closed on the purchase of the Doral land from Flagler Development about two weeks ago.
Terra currently has three residential projects under way in Doral: Doral Cay, Vintage and Las Ramblas.
“The problem with Doral is the scarcity of land,” Martin said. “This is our last opportunity to develop something in Doral, and we want to do something design driven.”
He said the homes will feature more garage, storage and closet space than the standard fare.
On the retail side, the Doral project will include a 150,000-square-foot neighborhood shopping center featuring a supermarket and other retail, such as food and beverage, fashion along with some space for banks, Terra said. Courtelis Co. will handle leasing.
Meanwhile near the Midtown/Design District neighborhood, which is in the midst of major development plans, Terra Skylar acquired a 50,000-square-foot office building at 3550 Biscayne Boulevard and several nearby parcels.
For now, Martin said the plan is to maintain the office building with its current tenants. Metro One is handling the leasing. Plans for the undeveloped lots are still in the making but will probably include residential, retail or hospitality, Martin said.
“It’s really a key piece of that neighborhood,” said Martin, who described the area as “where Miami’s creative class of tomorrow wants to live, work and play.”
Terra Group plans single-family development in Doral with modern architecture
This article
Terra Group plans single-family development in Doral with modern architecture
can be opened in url
http://newsfuriouster.blogspot.com/2012/11/terra-group-plans-single-family.html
Terra Group plans single-family development in Doral with modern architecture
