New York-based Allied Partners, a real estate firm led by CEO Eric Hadar, is preparing to pitch their mixed-use project to Miami Beach’s planning and zoning board next month. The proposed project will be located at 400 Collins Avenue in South Beach, and feature 175 parking spaces, four residential units (totaling 12,000 square feet) and 7,200 square feet of retail. According to a recent article from The Real Deal, original plans for the property included a robotic parking garage with 24 residential units, but the developer decided to simplify the design “into a building that will blend into the neighborhood,” Hadar said.
The architect of the redesign, Brandon Haw, designed Faena House as a part of Foster & Partners, and was hired to help give the building a minimalist look. The color palette will also reflect the Art Deco vibe in the surrounding South of Fifth neighborhood. Allied Partners is also working on the redevelopment of the historic Savoy Hotel at 425 Ocean Drive, and the garage at 400 Collins will help satisfy the parking requirements for that project.
“We want this [project] to be a business card for Allied,” Hadar told TRD. Typically, the firm acts as a long-term holder of real estate, as opposed to taking the developer role.
The development site is currently a surface parking lot that was acquired by Allied in 2011. Hadar believes that it’s a good time to enter the Miami market now that it is slowing down. They will go before the Planning & Zoning board in June and the Historic Preservation Board in July. If the plans are approved, the project is slated to be completed by the end of 2018.