The current location in Miami’s Design District spans 88,000 square feet of retail and office space. But, if Raycliff Capital is successful with its upcoming planning board hearing, it will demolish those buildings and construct towers of 25 and 12 stories.
The South Florida Business Journal reports Raycliff bought the property for $143.6 million in 2022. Its partners in the venture are Fort Partners, Miami Design District Associates and Constellation Hotels Holdings.
To be called Miami Design Residences Designed by Chipperfield, the development would total 611,839 square feet, with 143 condos, 85 hotel rooms, 20 hotel/condo units, 55,089 square feet of commercial space, and 171 parking spaces…