Brian Bandell
Jan 8, 2025
Lennar Corp. (NYSE: LEN) could build 498 condos near the Northside Metrorail Station in central Miami-Dade County.
North Miami-based 79 Northside Town Station LLC, part of IMC Equity Group, filed a pre-application with county officials for the 15.1-acre property at 3017 N.W. 79th St., just north of the public transit station and on the west side of IMC Equity Group’s Northside Center shopping mall. The site plan indicates the property is under contract to Miami-based Lennar.
IMC Equity Group purchased the property for $13.5 million in 2019. It was previously home to a flea market, but it was demolished and it’s recently been used for truck parking. IMC Equity Group filed plans in 2020 to build apartments there but no construction took place.
Now, the site plan for Northside Town Station by Lennar calls for 498 condos, 5,000 square feet of commercial space and 582 surface parking spaces. There would be nine six-story buildings and three three-story buildings, plus a separate building for the commercial space and a recreational area with a pool and park.
It would have 288 two-bedroom units and 210 three-bedroom units.
Doral-based Pascual Perez Kiliddjian Starr Architects & Planners designed the project for Lennar.
Officials with Lennar and IMC Equity Group, along with their attorney Amanda Naldjieff, couldn’t be reached for comment. They are seeking to rezone the property for this project, so it would require County Commission approval.
Developers file pre-applications to receive feedback from county staff before submitting official applications.
Lennar is looking to rebound after its number of home sales in the fourth quarter disappointed analysts. There aren’t many large tracts of land left in Miami-Dade to build single-family home communities, so one way for Lennar to keep its production volume up is by pivoting to mid-rise condos in more urban areas. It has a similar strategy with a proposed condo project in Pompano Beach.
Most of the new condos in Miami-Dade are either luxury with high price points or geared for home-sharing platforms. Potentially, this condo project in Northside could have more affordable prices for buyers.