The Gallery On The River, an affordable and workforce housing project in Overtown, has been submitted for UDRB review by Related Group.
Related is planning to develop the new 12-story project on county-owned land. An existing 12-story tower called Jack Orr Plaza is already on the site, and Garcia’s Seafood is across the street.
The new tower will include 160 units, to be rented at both affordable and workforce price points (11 units will be devoted to public housing). A four story garage with 304 parking spaces will also be built, and around 88 surface parking spots will be displaced by the development.
Related will pay just $40,000 per year in rent for the property over 75 years, along with a one time payment of $400,000 and annual 4% increases.
Miami’s Urban Development Review Board is scheduled to review the proposal at a September 18 meeting.
SR Architects of Miami prepared the plans.
Source: The Next Miami