Crescent Heights and Terra has revealed new renderings of the public park coming to 500 and 600 Alton Road, known as the Park on Fifth, as part of their deal to build a 44-story, 553’ tower at the gateway to South Beach. Russell Galbut and David Martin’s proposal was approved with an agreement to transform the former South Shore Hospital site with the tower, which is being designed by Arquitectonica, and the 3-acre park.
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Investment Spotlight: Reinvigorating Miami’s Real Estate with Opportunity Zones
The opportunity zone program is a little-known provision of the Tax Cuts and Jobs Act that could be a powerful economic development tool for designated low-income communities. The program provides tax incentives to developers who invest in these areas, including 427 tracts of land in Florida, 68 of which are in Miami-Dade County.
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