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R5 AE and R5 AF PresentationsApril 23, 2025 City Commission Meeting PB24-0698 / PB24-0703 R5 AE and R5 AF Alton Beach Bay front Overlay & Development Agreement for 1250 1247, 1255 West Avenue & 1234 13 Street American Copper 111 West 57th Street JDS Portfolio Selects Walker TowerMonad Terrace The Fitzroy 111 West 57th Street American Copper Mercedes-Benz Places 888 Brickell Monad Terrace Mercedes-Benz Places JDS Portfolio Selects Subject Properties 1250 West Ave Bikini Hostel 12TH ST 14TH ST 13TH STWEST AVE907 Proposed Alton Beach Overlay Boundary Existing Condition Bay Garden Manor Existing Units: 238 Short Term Rentals: Permitted Year Built: 1964 Original Use: Health Care Center Obsolete & In Poor Condition Historical Mold Structural Issues Notes: * Based on actual maintenance and special assessment schedules over the period ** Based on historical maintenance i ncreases and completed reserve studies $974.62 $1,066.31 $1,497.82 $1,661.72 $1,955.58 $2,305.38 $2,363.05 $2,621.46 $2,685.86 $3,038.85 $0.00 $500.00 $1,000.00 $1,500.00 $2,000.00 $2,500.00 $3,000.00 $3,500.00 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Bay Garden Manor Average Monthly Carry Cost per Unit Including Maintenance, Existing Special Assessments, and Known Upcoming Capital Improvement Projects *100.65% increase between 2021 -2025 **Additional 55.39% increase projected by 2030 As-of -Right Development Proposed Redevelopment Development Options 1 2 Units: 286 Short Term Rentals permitted Minimal setbacks required to distribute allowable floor area Short and squat arrangement leads to limited opportunities for architectural expression Units 286 Short Term Rentals Permitted Minimal setbacks required to distribute allowable floor area Short and squat arrangement leads to limited opportunities for architectural expression Floor Area & Use Breakdown As-of-Right DevelopmentOption1 Bulky, squat massing w/ minimal setbacks that obstruct views 420 FEET Previous Current Option 2 330 FEET Proposed Redevelopment: Height reduced due to community input A setback tower that allows for more light and air Opportunity to create true architectural landmark in respectful contextual manner Residential Units: 100-125 Average Sized Units: 2,000+ Sq Ft Family Sized Units Short Term Rental Units: Prohibited Proposed RedevelopmentOption2 Compact tower footprint allows for minimal view and shadow impacts Impact to Neighbors: Pedestal Setback Comparison As-of-Right Pedestal Building Footprint Proposed Pedestal: Tiered Setback Strategy Tier 2 Footprint Tier 1 Footprint42 feet 90 feet20 feet 130 feet Impact to Neighbors: Tower Setback Comparison Tower Footprint Internal Courtyard above pedestal Tower Footprint As-of-Right: Above 50 feet Proposed: Above 50 feet Tower Footprint 50 feet 197 feet63 feet 140 feet Impact to Neighbors: 1228 West Avenue As-of-Right Development (from West Ave)Proposed Redevelopment (from West Ave) Unsightly parking podium at the street Setback creates terraced approach to street and neighbors Impact to Neighbors: Monad Terrace As-of-Right Development (from Neighbor)Proposed Redevelopment (from Neighbor) Blocks views of neighborhood Preserves views and minimizes shadows Proposed Project Overview Tower Footprint Tower Footprint Proposed Project Overview Proposed Project Overview Tower Footprint Tower Footprint Proposed Project Overview West Avenue Context Proposed Legislation Summary 1.Uses Residential and accessory uses only, outdoor restaurant seating prohibited 2.Intensity Floor Area bonuses allowing up to 5.75 FAR (reduced from 7.75) 3.Height Height bonus allowing up to 330 feet (reduced from 420 feet) 4.Maximum Density 75 units per acre 4.Setbacks Modifies side interior setbacks 5.Setback Encroachments Modifies allowable setback encroachments 6.Mechanical Parking Streamlined administrative approval process for mechanical parking 7.No Short-Term Rentals Requires voluntary covenant prohibiting short - term rentals 1 •Water Demand Reduction: -63,166 gallons per day •Sanitary Sewer Demand Reduction: -63,166 gallons per day •Solid Waste Reduction: - 111 tons per year •Traffic Reduction: -38 PM peak hour trips •New Public Recreational Open Space: +17,252 square feet Reduction of Impacts Drastically Reduced Demand due to Decreased Density 7.5x increase in Ad Valorem tax revenue from 1250 West Avenue between 2024-2030 1 Economic Benefits: Post Construction Benefits to City Source: The Comprehensive Economic and Tax Revenue Impacts for the Development of the Proposed Residential Tower in the City of Miami Beach, The Washington Economics Group, Inc., October 9, 2024 1 Economic Benefits: Post Construction Benefits to Residents Source: The Comprehensive Economic and Tax Revenue Impacts for the Development of the Proposed Residential Tower in the City of Miami Beach, The Washington Economics Group, Inc., October 9, 2024 Annual increase to household income and GDP due to economic activity of new affluent residents 1 Development Agreement for Public Benefits Acquire and Convey Bikini Hostel Property a)Acquire Bikini Hostel Property b)Relocate homeless population in humane manner c)Demolish existing structures within 120 days of entry into the Development Agreement d)Convey land to the City to be used to benefit neighborhood within 60 days of TCO 1 Development Agreement for Public Benefits Construct Missing and Underfunded Bay Walk Segments a)Present conceptual plans to City for approval within 60 days of Private Project approval by DRB b)Obtain easements prior to building permit OR contribute funds for segment if easement cannot be obtained c)Developer obtains DRB approval, required permits, and constructs segments within 60 days of TCO for Private Project Reasons to Approve 1)Bikini Hostel will be extinguished 2)Reduced density reduces traffic and infrastructure burdens 3)Reduced impact to West Avenue street frontage and Biscayne Bay 4)Eliminates short term rental opportunity 5)Substantial economic benefits created for the City & neighborhood 6) Consistent with as-built height and FAR along West Avenue Corridor 7) Eliminates severe economic hardship unfolding for 1250 West Avenue unit owners 8) Reduced impact to views of Monad Terrace and Bay View Terrace (1228 West) 9) Bay Walk will finally be completed 10) Opportunity to create architectural landmark 200 S. Biscayne Boulevard Suite 300, Miami, FL 33131 www.brzoninglaw.com 305.374.5300 office 305.377.6222 fax Info@brzoninglaw.com Thank You Appendix Waverly Context 1250 West Building Footprint Tier 2 Footprint Tier 1 FootprintProposed Pedestal Bonus System Precedent 6.0 Max FAR w/ all bonuses Waverly Pedestal 1 Traffic Reduction