Mast Capital has submitted a proposal to build a 688-unit apartment complex along the Miami River. The project is proposed to be built on a 6.31 acre site located at 1001 NW 7th Street which Mast Capital is currently under contract to buy. The project would rise 8-stories and in addition to the apartment units would also feature 780 parking spaces and 2,795 SF of retail. Mast Capital is requesting a 30% reduction in parking. The building is being designed by Corwil Architects and construction would take place in 2 phases. The proposal is scheduled to be reviewed by Miami's Urban Development Review Board (UDRB) on January 17, 2018 and was approved in December by the Miami River Commission.