Acre agrees to public parking, $1M mitigation payment as Legion Park apartments move forward

Acre won approval for an apartment complex adjacent to a 48-acre waterfront park in Miami, agreeing to create public parking and offering a $1 million mitigation payment to the office of a Miami City Commission member. The 337-unit project, called Adela II, would rise at 645 Northeast 64th Street, just south of Legion Park and west of Acre’s 236-unit Adela at MiMo Bay apartment complex. The project has financing in place, including a loan from Canyon and equity from Acre’s Fund VI, said Jesse Kehoe, Acre’s director of development in Miami. The project is awaiting permits after Miami’s Planning, Zoning […]This article originally appeared on The Real Deal. Click here to read the full story.