Miami Heart Institute Buyers Seek Rezoning For Condos
Written by Miami Today on May 31, 2012
By Ivan A. Rodriguez
Lionheart Capital LLC, a Miami-based realty investment firm led by partners Ricardo Dunin and Ophir Sternberg, will try again June 26 to make a proposal to the Miami Beach Planning Board to rezone the Miami Heart Institute property, purchased in February for $20 million, for a luxury condominium project.
The firm was to present its plan May 22 but that was postponed by a lengthy discussion on another topic during the monthly planning board meeting in Miami Beach City Hall.
Lionheart, which acquires and repositions South Florida properties, plans an ultra-luxury residential condo at the site, 4701 Meridian Ave. in Miami Beach.
"We are bringing in world-renowned Italian architect Piero Lissoni to redesign the existing structure, in collaboration with the Boston and Miami-based ADD Inc.," Lionheart said in a statement to Miami Today.
The totally renovated building is to be 70,000 square feet smaller than the current 7.1 acres can hold and, given the large size of its residences, have substantially lower density than code allows.
"The plan aims to reduce traffic patterns, reduce noise levels and beautify the area, as well as raise property values for the neighborhood," the company stated.
The developers will be requesting to amend the future land use map of the city’s comprehensive plan by changing the property’s land use category from its current Public Facilities — Hospital District to Residential Multifamily Low Density, according to documents from the Miami Beach Planning Department.
The public facilities hospital district for future land use and hospital district zoning designations allow only hospitals as a main permitted use, and also allow a variety of accessory uses related to hospital use.
The new facility plans to retain the existing nonconforming height, setbacks, floor area ratios and off-street parking by converting existing structures to a multifamily building with associated amenities and parking, the document reads.
The residential multifamily low density future land use category allows 60 units per acre, which would limit the number of units the condominium could have.
The Miami Heart Institute had been a functioning hospital since 1967. Mount Sinai Hospital purchased the building in 2000 and operated it.
The facility has seven stories and two parking garages.
On-site amenities include a waterfront dining facility and a conference center with a 241-seat auditorium.
Its operating and emergency rooms have been closed since 2004. Remaining services include the rehabilitation center, hospice, dialysis, and wound-care center, which will move into Mount Sinai.
Another current Lionheart project is The Ritz Carlton Residences at Singer Island in Palm Beach County. To read the entire issue of Miami Today online, subscribe to e -Miami Today, an exact digital replica of the printed edition.