North Miami Weighs ACRE's 16-Story, 225-Unit Aurevia Tower

North Miami’s Planning Commission took up a 16-story, mixed-use tower called Aurevia at 1590 NE 123rd St at a special meeting on September 10, the first hard entitlement hurdle for an infill site the applicant has held since 2022. The city had not posted minutes or a recording of that meeting as of September 14, so the commission’s vote is not yet on the public record. The applicants of record are two entities: 1590 NE 123rd St LLC, whose member is managed by Michael Van Der Poel of ACRE Management, the New York-headquartered fund manager with Miami offices that has executed more than $8 billion in U.S. multifamily transactions, and 1590 NE Holding LLC, managed by Anthony Hodes of Old Town Capital Partners.

Why it matters

A mid-size infill tower reaching North Miami’s Planning Commission is a read on how the city’s board is treating density along the NE 123rd Street corridor, a stretch that has mostly seen low-rise commercial and defunct civic buildings rather than towers of this scale. Aurevia replaces the former Senator Gwen Margolis Community Center on a 0.96-acre parcel the applicant bought from the city for $3.1 million in 2022, and what the commission does with it signals whether North Miami will entitle a 16-story residential building on a corridor site that size. For developers assembling land elsewhere along the corridor or in the broader Miami market, the ask itself is the data point: 225 units on under an acre, carried by a density bonus rather than by base zoning.

The numbers

Vimani Design designed the tower at 225 apartments across studio through three-bedroom layouts, averaging about 776 square feet each, plus 8,618 square feet of ground-floor retail and 6,453 square feet of second-floor office space. The project includes 316 parking spaces in a multi-level garage, along with a pool deck, fitness center and pickleball court. The applicant has estimated construction costs at $77.4 million.

What’s next

A Planning Commission recommendation is an entitlement milestone, not a permit to build. The conditional use permit still needs final action from the City Council, whose September 22 regular meeting was cancelled, and the item had not appeared on a later posted Council agenda as of September 14. The American Developer will track the site for a building permit filing, which would be the next concrete signal this project is moving toward vertical construction rather than sitting on its entitlement.