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Turnberry wants to build new project on Alton Road

Turnberry wants to build new project on Alton Road
Former gas station site will have prominent grocery tenant
March 23, 2016 03:45PM

Rendering of 1698 Alton Road project (Credit: The Next Miami)

Turnberry Associates and Elion Partners have submitted plans for a new five-story project on Miami Beach’s ever-changing Alton Road.
The proposal, first reported by the Next Miami, includes a mixed-use building with 28,142 square feet of ground-floor retail, a parking garage with 204 spaces and 36 residential units. Part of that retail space would be taken up by a “prominent” grocery tenant.
It would be built on a trio of parcels at 1681 and 1683 West Avenue, plus the now-demolished Shell gas station site at 1698 Alton Road. They’re on the same block as Miami’s popular Epicure Market grocery store. Touzet Studio, which designed the Apple, Gap and Nike stores on Lincoln Road, is the designer.
County records show a company managed by Rock Soffer and principals of Elion Partners bought the former Shell site in April for $8 million. A separate entity, managed by Rock Soffer, his father Don Soffer and the Elion principals, also bought the West Avenue parcels for $7.9 million in 2013. Turnberry is involved in one of Miami’s largest developments to date, SoLē Mia, and Elion is one of the partners developing West Palm Beach’s newest condo tower the Bristol.
According to the Next Miami, the project will go before the city’s planning board next month.
Alton Road has been a hot market for development over the last two years as waterfront land prices become prohibitive for new projects. Gas stations in particular seem to be hot commodities. Besides the Shell site mentioned above, Saber Real Estate Advisors put down $7.3 million for a Chevron station on 1824 Alton Road and is now planning a new mixed-use building designed by Kobi Karp. [The Next Miami] — Sean Stewart-Muniz

Source: The Real Deal

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