Low Rise Apartments in West Brickell
A Brazilian airline investor named José Afonso Assumpção, has been buying properties all over Miami in 2013, including land in Edgewater and Brickell. The buying has been done under the name Miami Sunrise Properties and been operated by Elena Arechaga.
Some of the land that has been purchased in West Brickell were a few low rise apartment buildings and single family homes located between SW 10th St and SW 11th St. and bordered to the west and east by SW 3rd Ave and SW 2nd Ave. Assumpção paid $13 million for the land, totaling 92,250 square feet. According to Metro1, Assumpção had plans to build a project called "1010 Second", which would have been two 33 story buildings with a hotel and apartments. Apparently that project has fell through and another investor has offered almost double what Assumpção paid.
All of the residents of the apartments and houses have already left and the buildings have been boarded up. They will probably stay that way until Assumpção sells the land to another investor or decides to build.
Across the street to the North of the land owned by Miami Sunrise Properties was a two story public housing complex that has been recently torn down. The land is owned by the city of Miami and zoning codes allow for a building up to 24 stories. No word on what they are planning to build on the site.
West Brickell has already seen a a recent transformation and with development of this land will continue the metamorphosis.
