7350 Coral Way Prop. Co. has recently filed a pre-application meeting with Miami-Dade, requesting administrative site plan approval for a mixed-use project consisting of office, retail, and multifamily space. The two-building development coined ‘Park Residences’ and designed by Anillo Toledo Lopez will utilize Live Local Act benefits, in hand delivering workforce housing and commercial space along Coral Way.
The Live Local Act has prioritized immense density along industrial corridors, and this project is a byproduct of such legislation. Previous zoning regulations allowed zero residential, but with the Live Local Act, 250 units per acre can be built at maximum so long as 40% of the constructed units are designated as “affordable/workforce”. This translates to 246 market rate units and 164 workforce units. Units will be in either studio, 1 bedroom, 2 bedroom, or 3 bedroom orientations. In addition, there will be 950 parking spaces, 90,000 SF of medical office space, and 7,000 SF of retail space.
According to elevations, the residential tower will rise 19 floors while the medical office building will measure 7 floors. This comes out to a height of 88 FT for the office building and 190 FT for the residential tower, making it the tallest building to be constructed in the area thus far. Likewise, the residential tower is set back 220 FT from coral way in an attempt to hide the project’s podium, but also its massing. To alleviate this set back, a pedestrian bridge will be constructed in-between the office and the tower’s base.
The development is still preliminary, with renderings likely at a later date. The future development is located at 7350 Coral Way on an 4.11 acre parcel, currently housing a grass lot with an unpaved parking lot. Little site preparations are needed in the event the developer gets funding and begins.