Regency Development Group wants to build townhomes near Lincoln Road in Miami Beach.
The Chicago-based developer has filed a proposal for a 10-unit project at 1701 Jefferson Avenue, at the corner of 17th Street, a block north of the Lincoln Road shopping promenade.
Called the Villas on Jefferson, the Kobi Karp-designed development would be split between two buildings, each housing five units spanning roughly 2,800 square feet. All residences will be five stories high and include a two-car garage on the ground floor.
The Miami Beach Historic Preservation Board will hear the proposal April 9.
Regency Development Group, led by Michael Troyanovsky, bought the half-acre site for $4.4 million last year, according to property records. The vacant parcel is now used as a parking lot for the nine-story office building at 1688 Meridian Avenue.
A representative for Regency Development Group did not immediately respond to a request for comment.
The previous owner had proposed a 40-unit residential building with a workforce housing component that the Historic Preservation board approved.
Source: Commercial Observer