Will Miami Beach make a deal with Russell Galbut?
Crescent Heights is offering Miami Beach land so it can build a taller building at Fifth and Alton
- Russell Galbut is offering the city of Miami Beach up to 4 acres of land in exchange for the ability to build a taller tower on a nearby site.
- The properties in question are part of the Wave mixed-use development, and include the three blocks between Alton Road and West Avenue from Fifth to Seventh streets where the South Shore Hospital shell remains.
- The proposed rendering shows a 42-story building at 500 Alton Road and park space fronting West Avenue behind a planned apartment building with ground floor retail.
- Plans for the Wave include apartments, 63,000 square feet of commercial space and a 122,000-square-foot outpatient and medical complex for Baptist Health South Florida, the latter of which is under construction.