South Florida developers team up for Midtown project

Adler, Encore Housing, Fifteen Group form joint venture to build rental tower


South Florida developers Adler Development, Encore Housing Opportunity Fund and Fifteen Group are teaming up to build a rental apartment tower in Miami’s Midtown neighborhood.

The companies formed a joint venture to develop Midtown 29 at 190 Northeast 29th Street, according to a written statement released on Tuesday. Plans call for about 300 apartments, with a mix of studios and one, two and three-bedroom units. Retail space would be located on the ground floor.

A lack of luxury rental product in the Midtown area is a major reason why the venture is not building condos instead, according to the statement.

Encore’s principals are also part of the team developing the massive Miami Worldcenter mixed-use project planned in the downtown area. — Eric Kalis


Fonte: The real deal

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