The city’s Urban Development Review Board approved plans for Miami Worldcenter Block C, located on the 0.68-acre site at 155 N.E. 10th St., on March 20.
The 1,049-foot building will be the tallest in Miami.
The three towers will have 1,342 multifamily units, 264 apartment-hotel units, 615 hotel keys, 100,000 square feet commercial, and 1,180 parking spaces.
Mercedes-Benz Places — Miami will be the first residential tower for the luxury car brand in the United States.
Developers are offloading parcels for mixed-use, condo, townhome and multifamily projects, as some struggle to land equity investors or bank financing.
The new development will include both market-rate and workforce housing apartments, along with parking facilities for residents and visitors.
Unlike much of the redevelopment now enveloping Miami, the plan spearheaded by Coconut Grove-based developer Swerdlow Group is aimed squarely at low-income and middle-class Miamians who are now finding it increasingly unaffordable to live in the city, especially in the urban core.
Renderings of the proposed project show the hotel and residence could be called La Mare.
The historic Trinity Episcopal Cathedral that has stood on the property since 1923 will be preserved and enhanced.
It only took about three months for the FAA to issue approval for the 76-story tower.