Saturday, June 13, 2009
West Avenue Development likely to raise property values
Phillip Muskat's proposal to build a six-story hotel on West Avenue could pave the way for similar ventures on this mostly residential South Beach street. That also means property values are likely to increase along West Avenue, said Jeff Morr, CEO of Majestic Properties. "This is a big plus for West Avenue, not a minus," he said. The Muskats are now seeking approval from city government to change the area's zoning, a process that took an important step last week when the Miami Beach Design Review Board unanimously backed the 38-room hotel's plan. The design, from the Buenos Aires firm Itecdesign, includes 525 square feet of retail, a 56-seat ground-floor restaurant, a 20-seat outdoor café on a third-floor terrace and a rooftop pool.
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