Infinity Collective Tweaks Plans for Miami Beach Project at Former Shvo Site

Infinity Collective has tweaked its plans for a mixed-use development in Miami Beach, where the Epicure Gourmet Market once stood, after buying the site out of foreclosure from Michael Shvo.

The new plans shave off 38 rental units, bringing down the total to 142, within the 14-story, 302,135-square-foot project between 1656 and 1680 Alton Road, adjacent to Lincoln Road.

The New York-based development firm also wants to build 51,200 square feet of Class A office space — approximately 8,000 square feet more than before — while adding just over 2,000 square feet of retail space on the first two floors, amounting to 45,313 square feet.

A five-story parking garage with about 365 spots would rise across the block at 1677 West Avenue. The Miami Beach Planning Board is scheduled to hear the PBDW Architects-designed application on Dec. 8 after approving the initial plans in April.

Infinity Collective purchased the 1.4-acre site for $28.3 million last year, through a deed in lieu of foreclosure, according to property records. The sale came as Shvo was battling with his limited partner, a Bavarian public pension fund, over some of its projects, including the redevelopment of the nearby oceanfront Raleigh hotel. But the fund did not own a stake in the Alton Road parcel.

Shvo, a star residential broker turned developer, had planned to build a six-story, office building designed by the firm of starchitect Norman Foster. Shvo demolished the existing structure, which had housed the popular Epicure market that closed in 2017. Construction never got underway, and the site remains vacant today.

A representative for Infinity Collective did not immediately respond to a request for comment.

Julia Echikson can be reached at jechikson@commercialobserver.com.

Source: commercialobserver.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.