Turkish developer Okan Group has purchased land at 501 N. Miami Ave owned by the Central Baptist Church for $18.1 million and is planning a 1,000-foot tower.
Zoning allows 1,000 units per acre, and 864,000 to 1.3 million square feet. The lot is 37,500 square feet, and does not include the historic church.
Okan Group plans to develop a 1,000-foot mixed-use tower with retail, office space, a hotel and condos, a broker for the buyer told the SFBJ. Okan loves the site, which the broker says “epicenter of future development in Miami,” but they are not in a rush to build.
The company is developing projects in Turkey and Kazakhstan, and this would be their first project in Florida.
Okan is currently discussing plans with architects for the site.