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Front Page » Real Estate » Public-private deal’s 31-story downtown Miami residences near

Public-private deal’s 31-story downtown Miami residences near

Written by on November 24, 2020
Public-private deal’s 31-story downtown Miami residences near

Major progress is being made on construction of a residential tower rising in the heart of downtown Miami and the project continues to be ahead of schedule.

Grand Station, a mixed-use residential tower at the southwest corner of Northwest Third Street and North Miami Avenue, is expected to be completed during the second quarter of 2021, according to Alejandra “Alex” Argudin, chief executive officer of the Miami Parking Authority (MPA).

The project is a public-private partnership, or P3, between the parking authority and Grand Station Partners LLC.

The city’s parking agency is run by the Off-Street Parking Board.

Ms. Argudin presented the board with an update on the P3 project at a recent meeting and provided photos of the new tower.

Work began on the tower in June 2019 and has forged ahead even in the face of challenges brought on by the Covid-19 pandemic.

“The Grand Station project continues to be ahead of schedule, and it’s programmed to be completed by May of 2021,” said Ms. Argudin.

The partnership with Grand Station Partners LLC includes construction of apartments and retail stores, along with added parking levels, to property abutting the parking authority’s headquarters at Courthouse Center Garage at 40 NW Third St.

The authority calls the next door lot “Parcel B” – not to be confused with the county’s Parcel B on the bayfront.

For years, the undeveloped site at 240 N Miami Ave. was home to grass, sidewalks and small to medium-sized trees, and some mechanical equipment.

Speaking of the contractor, Ms. Argudin told the board: “They are building out the office space here on the 10th floor. And they have a mockup (residential) unit they will be finishing out and they will be using it as their leasing office.”

Opened in 2010, Courthouse Center Garage is a public parking facility with upper and lower office space and some ground-floor retail. The largest office user is the parking agency itself, in about 10,000 square feet on the top floor.

Grand Station includes an 8-story pedestal of new parking with about 350 spaces, tied into the existing 11-story garage. The main portion of the project is a 31-story residential tower with about 300 apartments.

The new building will also have about 4,000 square feet of ground floor retail uses.

The apartments will be comprised of studios, one-bedrooms and two-bedrooms.

Grand Station is rising just a block or so from the MiamiCentral transportation hub with passenger rail service Brightline.