UPDATED, March 8, 5:40 p.m.
Constellation Group and Boschetti Group are planning to build a nine-story mixed-use project in the North Beach neighborhood of Miami Beach.
The Miami Beach Design Review Board on Wednesday approved the joint venture’s proposed mid-rise building at 6940 Abbott Avenue. Miami-based Constellation and Coral Gables-based Boschetti plan to demolish an existing one-story telecommunications building at the nearly 6-acre site.
The joint venture, which includes partner Vietmar, a Miami-based real estate investment firm led by Rainer Viete, bought the former Bellsouth property from AT&T for $5.5 million this month, records show. Professional Bank provided the buyers with a $3.2 million loan.
The proposed project, which doesn’t have a name, would have 96 apartments on top of two levels of parking and ground-floor retail, according to the site plan and other documents submitted to the city of Miami Beach. Designed by Arquitectonica, the project would feature a mix of one- and two-bedroom units, including 20 co-living apartments.
The design review board gave the project the green light with minimal discussion, despite objections from two North Beach residents who worried about the new development causing traffic to be more congested on Abbott Avenue.
“The traffic and parking [are] extremely dense now,” said Bruce Fish, president of the condo association for the nearby 401 Blu condominium. “I don’t see how people on the side streets are going to get up and down [Abbott].”
Constellation, led by principal Eduardo Otaola, and Boschetti, led by managing member Jose Boschetti, are also co-developing projects in Coral Gables. The partners are proposing a 15-story mixed-use project near the Shops at Merrick Park. The development would entail 70 apartments, 20,000 square feet of office space, 10,000 square feet of retail and a 5,000-square-foot park.
Constellation and Boschetti are also redeveloping a pair of single-story office buildings at 4225 Ponce De Leon Boulevard and 4311 Ponce De Leon Boulevard in Coral Gables. The joint venture is planning a 75,000-square-foot office building with ground-floor retail.
Arquitectonica is also designing the two Coral Gables projects.