With the scarcity of inventory because of the high demand for housing, many developers are building new condos in Miami area among them Newgard Development Group is planning a 36-story, 352-unit condominium tower at 151 SE First Street, in Miami’s Central Business District, the Miami Herald reported. Harvey Hernandez, who helms Newgard, told the Herald he imagines, “very small units, very cool lofts, with a really nice restaurant on the ground floor.’’ The 0.42-acre site, next to the Gusman Center for the Performing Arts, is getting parking and setback requirements generally required by zoning for a new development waived by the city of Miami, the Herald said. * Source: Miami Herald.
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