North Miami – Monday, Oct. 7th, the City of North Miami’s Mayor and Council voted unanimously to approve the City Administration’s competitive selection of Magellan Housing, LLC, to develop the City’s former Rucks Park site as The Atala, a Green Certified, mixed use, mixed income, workforce housing development.
The Atala will be located at 13780 NE 5th Avenue, North Miami.
The development will be built in an established North Miami residential community, on a 6.32 acre land parcel, primarily owned by the City.
Three adjacent parcels owned by the North Miami Community Redevelopment Agency (CRA) will also become part of the overall project site.
Once constructed, The Atala will consist of 134 apartment units, divided between three buildings and standing three stories high, plus a community garden with native plants and communal recreational areas. It will also include a 10,000 square foot commercial space. The total projected cost of the new development is $40,000,000.
An economic impact of $70,000,000 is projected, as The Atala is expected to bring 134 new jobs. Approximately $172,900 in North Miami tax revenue is expected in its first full year of operation. Final negotiation between City Administration and Magellan Housing, LLC are set to begin immediately.