Presenting a fantastic development site in the heart of Little Havana on Calle 8. This property is located on one of the hottest parts of Calle 8 with new restaurants, bars, and night life coming into the area. The area enjoys great public transportation, walkability, and a rich cultural environment. Thousands of tourist are dropped off nearby every day. There is a constant flow of foot traffic and a high vehicle count creating the ideal development site.
Development Details A 124 Unit Project with retail on the ground floor can be built under current zoning. The zoning on the multifamily can likely be changed to T5-0 to increase unit density and add additional height. Retail on Calle 8 is renting out for over $35/Sq.Ft and continues to increase along with a very strong residential rental market. The income should cover the carry cost while development plans and permitting are obtained.