PPG Development Pulls $98M Permit for Palm Aire in North Miami Beach

A $98 million building permit landed on 1750 NE 167th St in North Miami Beach this week under a title entity, Ppg Ark Equishares Owner LLC, that names no developer to the public. Trace the LLC through Florida’s corporate registry and prior reporting on the site and it lands on PPG Development, the Hallandale Beach firm led by Ari Pearl, building Palm Aire, a 728-unit apartment project on the former Nova Southeastern University dental school campus.

Why it matters

Miami-Dade’s permit data is a title search, not a developer directory. This permit’s applicant of record is a single-purpose entity, “Ppg Ark Equishares Owner LLC,” which tells the public nothing about who is actually building the project or with what balance sheet. Our standing rule on this desk is that an LLC is never the story’s name. Sunbiz’s corporate registry lists PPG Ark Equishares Owner LLC as a Florida limited liability company, and outside reporting on the same address, filed before this permit issued, ties that entity directly to PPG Development and Ari Pearl. Readers tracking who is actually active in Miami multifamily construction need the sponsor’s name, not the SPE’s.

The numbers

Permit 2026069135 issued 2026-09-02 for 1750 NE 167th St, North Miami Beach, at a stated valuation of $97,923,010 and 761,351 sf, filed as new construction, multifamily use, with the owner listed as its own contractor. Miami-Dade’s dataset also lists it as five units, which functionally reads as five buildings, matching prior reporting that describes Palm Aire as five buildings of three to eight stories holding 728 one-to-three-bedroom apartments plus roughly 985 parking spaces. PPG Ark Equishares Owner LLC bought the 7.5-acre site for $31.1 million in 2022, and the project has separately carried a $205 million construction loan.

What’s next

This permit is the construction trigger for a project that has been in the pipeline for three years, and it puts PPG Development’s name on the ground in North Miami Beach at a scale few Broward or Miami-Dade sponsors are matching this cycle. We will track vertical progress at 1750 NE 167th St against the unit and building counts above, and flag any change in ownership structure or lender if it surfaces on the next permit or recorded instrument tied to the same folio.