Crescent Heights is working on plans to build a new or expanded civil courthouse for Miami-Dade County, and possibly restore the existing building.
The Miami-based development company, led by chairman and CEO Sonny Kahn, managing principal Russell Galbut and principal Bruce Menin, was the only firm to bid on the 1.13-acre site at 1370 Northeast 2nd St. by the Feb. 2 deadline.
The proposal, published online by Next Miami, shows Crescent Heights affiliate 1370 NE 2nd LLC wants to build a 60-story tower with up to 1,000 residential units and 1,600 parking spaces. The developer already owns the adjacent land, bringing its total to just over 2 acres.
The $64 million purchase price proposed in the documents breaks down to $40 million in cash and $24 million value for the more than 600 parking spaces Crescent Heights would give the school board. The developer valued the spaces at $40,000 each.
The school board put the site up for bidding again last year. It would use the cash from the sale to help finance the construction of a new office building. The request for proposals also said bidders can build the school board up to 180,000 sq. ft. of offices as payment, either at a different site or within any project built on the parking lot.
