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18 Acres of Development Potential: a Site in North Miami Beach

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Attention: a large, triangular piece of land has emerged. Observed to have major development potential. Be on the lookout.

It's reported to clock in at 17.7 acres in North Miami Beach.

It could be anything--retail, commercial, office, hotel, educational--because the city is trying to attract developers with new zoning regulations. In March, North Miami Beach rezoned a total 41 acres of land for high-density, mixed-use development.

Formerly a distribution site for Peoples Gas (cue joke here), the current owner is Jacob Elharar. It's being marketed as Biscayne Village, and offers have ranged from $30 million to $50 million.

This parcel isn't alone. Just northeast, $23.5 million changed hands for the land where the current Dean's Gold strip club is. The Herald reports that the new owners, Privé Land Banking and CK Holding Group, are going to redevelop the property.

Not too far from here as well, developers 13th Floor Investments and Key International are planning to build two 32-story, luxury condo towers on bayfront land.

· 18-acre development site hits market in North Miami Beach [Herald]