While South Beach and the Mid-Beach area have seen a tremendous amount of growth and activity in the last couple of years where prices are commanding up to $3,000 per square foot, the same cannot be said for Miami Beach’s North Beach area, comprised of the stretch between 63rd to 87th Street. Comparatively, the area remains largely stagnant in terms of development.
The city has taken notice of this and recently put together a plan designed to create an overlay district for North Beach’s Ocean Terrace historic district. This district could result in the creation of a 235-foot condo set to be erected between 73rd Street and 75th Street. Today, a public hearing will be held at Miami Beach City Hall to come up with an initial master plan draft for North Beach.
The master plan is expected to take into account the challenges currently facing the North Beach area, including historic district creation which would prevent classic MiMo buildings from being demolished despite developers believing they are not economically viable. There are also issues being addressed regarding the development of city owned vacant parcels along Collins Avenue called West Lots and dealing with the ongoing concerns of sea level rise.