Mon Feb 12 2024
Developers Known For Luxury Towers Pay $17M For Workforce Housing Site In Overtown – Bisnow
A trio of developers acquired a 1.5-acre development site in Overtown where Nichols Architects had designed Workforce Housing. Property Markets Group, Lion Development Group and Lndmrk Development paid $16.5M for 105 NW 11th Terrace in Overtown between Downtown Miami and Wynwood. Overtown is a historically Black neighborhood that was segregated after its founding in 1896. It has struggled to attract investment but has begun to draw interest from developers in recent years. The former owner and Nichols Architects won approval for plans for the site in March 2023 that included…