AMC Development Group wants to build a 512-unit apartment complex in south Miami-Dade County’s Princeton neighborhood.
The proposed project, called AMC Park – South Dade, would include four eight-story residential buildings and two four-story garages with 656 spaces, combined, on land at 12501 Southwest 236th Street in unincorporated Miami-Dade, according to an application AMC Development filed to the county last month. The project would offer one- to three-bedroom units.
The plan calls for 10 percent of the apartments, or 51, to be workforce housing, in exchange for allowing AMC Development to build more than the currently allowed number of units on the site.
AMC Development filed a pre-application meeting request, a common practice for builders to receive county staff’s input on a proposed project before submitting an official application. AMC is asking to rezone the site from agricultural to residential.
The firm bought the 6.5-acre lot for $3.5 million last year from Wells Fargo. The bank acquired the land in 2015 after initiating a foreclosure proceeding, according to records. A two-story, six-bedroom single-family house is on the property.
Not much is known about AMC. State corporate filings list Andres and Claudia Gomez, as well as Manuel Sanoja as company directors. The firm lists a Miami-Dade address.
AMC is the latest developer to propose a project in south Miami-Dade, which has a healthy supply of buildable land that sells at a discount, compared with development sites in the urban core. The area includes the municipalities of Homestead and Florida City, as well as the Naranja, Leisure City and Goulds neighborhoods, in addition to Princeton.
In December, the Canero Group proposed an eight-story, 247-unit apartment complex at 24735 South Dixie Highway, also in Princeton. On the heels of that filing, developer Lewis Swezy’s Centennial Management proposed the 190-unit Cordova Estates townhouse complex south of Arthur Vining Davis Parkway and east of the Turnpike in Florida City.
More recently, high interest rates have made construction financing unattainable for some developers. This, coupled with costly labor and materials, as well as ever-increasing insurance premiums, has put a damper on South Florida’s building spree. While developers wait for these factors to give, they are focusing on getting their properties rezoned and projects entitled.