Park Apartments

Park apartments comprises two four-story buildings with 92 apartments, a pool, cabana, toddler’s park, and a gym. 

 

EAP was hired by a client looking to expand their portfolio with workforce multifamily apartments. EAP identified a potential property in south Miami-Dade where market and zoning conditions were ideal for this type of project. After extensive negotiations and due diligence, the 2.3-acre site located across a County-owned park was acquired

 

The site did present several challenges, such as a zoning requirement to enhance street and pedestrian connectivity in the area. However, EAP successfully found a solution by including the construction of a street, public parking, and a pedestrian path within the park, in lieu of impact fee payments. This decision resulted in a win-win situation for both the surrounding community as well as the developer. 

 

The project was completed in 2 ½ years from site acquisition, including entitlement, design development, permitting, construction, and lease up. In addition, the final return on investment was higher than anticipated.

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Services Rendered:

• Project Sourcing

• Entitlement

• Development Management