Green Dragon Group

Miami’s Biscayne Boulevard is quickly growing with new additions coming to the neighborhood. One of those additions includes plans for an eight-story, 90-unit condo tower on a two-acre site between 57th and 58th streets.

The Green Dragon Group, a sustainable development company, paid $15 million in June for a two-acre site to launch their first mixed-use project. The previous developers had planned to construct Kubik, a taller, larger-scale project, but Green Dragon has made plans call for a smaller condo tower. As plans stand now, the neighbors support the project.

“We’re okay with the eight stories, but any attempt to rezone bigger than that, in the South Florida love affair with higher, we will vehemently object,” said Billings, who is president of the Morningside Homeowners Association. “To the extent that they deliver a project that is worthy of the neighborhood, they will get our full support.”

The developers have hired Sieger Suarez Architects to design it in keeping with MiMo architecture. The project will also incorporate 35,000 sq. ft. of commercial space fronting Biscayne and won’t require any variances, said Hector Torres, chief operating officer of Green Dragon Group.

The project, which is intended for locals, will have large units with sizes ranging from about 2,250 to 5,000 sq. ft., with large kitchens, high-end finishes and appliances. Prices will start at $1.5 million and run upwards at $600 to $750 per sq. ft.

Plans are expected to be unveiled during Art Basel in Miami Beach Dec. 4-7. Preconstruction sales will start in January 2015, with construction expected to begin at the end of 2015 and completion anticipated for mid-2017.