Developer reveals proposal to save the Mira Mar building – Your Observer
To restore the 100-year-old structure will cost $29 million paid for with proceeds from the sale of 70 condos in twin 18-story towers built behind it.
Historic preservation isn’t for the faint of heart, especially for those paying for it.
Having been denied permission to demolish the Mira Mar building at 49 S. Palm Ave. in 2022, Seaward Development still purchased the century-old building in 2023 as it set about an 18-month effort to determine how it could save the Mira Mar and still redevelop the property.
That endeavor led to partnering with East Coast architects Rick Gonzalez and Igor Reyes to devise a plan to restore the Mira Mar to its 1923 origins and pay the bill by building two 18-story residential towers behind it. Gonzalez, of REG Architects of West Palm Beach, has 40 years of expertise in historic building restoration. Reyes, of Nichols Architects of Coral Gables, specializes in designing projects that help monetize such efforts.
The cost to restore the Mira Mar is estimated at $29 million. The money to cover that would come from a portion of the proceeds of sales from 70 condominiums to be built between the rear of the historic building and Mira Mar Court.
Read on at source: Developer reveals proposal to save the Mira Mar building | Your Observer