There are several major real estate projects underway in western Miami-Dade that will create more commercial space and some needed residential housing.
Miami Midway is a 45-acre project that will have a total value of around $200 million when completed in 2023. The project is a joint venture between Butters Construction & Development and Greystar. It will include a 375-unit multi-family project and a 500,000 square foot industrial park.
Malcolm Butters, President of Butters is excited about this project and believes its proximity to I-75 will be an important advantage. He believes it is important to western Miami-Dade as it provides easy-access industrial space. “This was a unique opportunity to acquire 45 acres of ready-to-build land in Miami-Dade. We immediately jumped on that opportunity as these size parcels are non-existent in metro-Dade County. The chance to develop a project of this size with Greystar was a dream come true as they have extensive multi-family experience and we are one of the leaders in the industrial development world,” said Butters.
Ground was recently broken on the apartment complex and ground will soon be broken on the industrial complex. The apartments will lease for around $2,000 which is considered affordable in Miami-Dade. The buildings will be three and four stories and offer walk-up apartments. There will be plenty of green spaces and parking spaces. The residential project will be valued at about $100 million, and the industrial project will be valued at $100 million. The industrial project will include light manufacturing and distribution. “This will be very good for Miami-Dade. The apartment budlings will provide affordable housing in the western area of the county. The industrial park will provide more space for industrial development and infrastructure,” said Butters.
“Access is paramount when selecting our development sites. The I-75 visibility, along with future and underway access improvements will bring more jobs and residents to the immediate area. It’s one of the rising stars in Miami-Dade” said Adam Vaisman, Director of Acquisitions, Butters Construction & Development.
Lewis Stoneburner, Managing Director for Greystar’s Florida development and construction business believes the project and the relationship will be very successful.
“We are thrilled to have the opportunity to partner with a firm like Butters to develop an institutional, Class-A industrial project of scale and a Class-A multifamily garden deal within Miami-Dade County. The multifamily project will consist of nearly 400 units in a three-story surface parked product, with extensive green areas, high end finishes, and best of class amenities. These two developments are complementary to the over $850 million of development we have already executed across the tri-County area of South Florida,” said Stoneburner.
Butters is also in the midst of building First Park Miami. The project is in Medley on 126 acres between NW 80th and NW 90th Street on NW 87th Avenue. Upon completion, First Park Miami will be one of the largest Class A Industrial Parks in South Florida.
It will include up to 2.5 million square feet of logistics space spread over as many as 13 buildings. Phase I will include three buildings, totaling 600,000 SF, featuring 32’‐36′ clear heights, 120’ to 180’ truck courts, extensive dock‐high loading, and an early suppression fast response sprinkler system used in warehouses. The site provides easy access to South Florida’s major highways. First Park Miami will serve all businesses looking to upgrade and modernize their operations in a rare infill location. Butters Construction & Development is serving as the general contractor. The architect for the industrial development is RLC Architects. This project involves a partnership between First Industrial Realty and Butters.
