Developer Says He Is Close To A Deal That Would Lead To Park West Highrise
By Frank Norton
Developer says he is close to a deal that would lead to Park West high-riseBy Frank Norton
A 500-foot aluminum-and-glass tower could overlook Bicentennial Park in downtown Miami if a pending land deal is successful.
Developer Covin Oppenheim said his partnership is "very close" to signing a deal to buy a site at 1040 Biscayne Blvd. from New York-based QuikPark, a real-estate investment firm that runs several downtown parking lots.
"It’s going to be huge and stand right between the arenas and the Performing Arts Center," said co-developer Gregg Covin of Gregg Covin Real Estate Inc. "The idea is to connect the nightclub district with the performing arts and Bicentennial Park areas."
Preliminary designs call for a mixed-use tower featuring retail, offices and about 200 residences, he said.
Mr. Covin would not estimate the project’s cost.
The structure would feature 20-foot-tall loft residences anchored by shopping and outdoor dining at street level, said project designer Chad Oppenheim of Oppenheim Architects + Design.
"This is going to be a showstopper that really sets the tone for future development in Miami," Mr. Oppenheim said.
He said the design will represent "freedom, openness and the unlimited possibility" of Miami’s Overtown neighborhood, which is now dominated by parking lots and warehouses.
Winston Curtis, QuikPark operations director, said the area, near Overtown, is poised for growth and development because of its potential for entertainment venues.
"Mark my words: In five years, there will not be one parcel left to buy in this area," Mr. Curtis said.
QuikPark, headed by Hank Sopher, owns 18 blocks downtown, many of which are in Overtown. Mr. Curtis said the firm would retain a stake in the planned development by running its parking facilities.