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Aldi Grocery Store, Starbucks, and County Office to Open at Platform 3750
Platform 3750 is a new innovative mixed-use concept located at the intersection of Douglas Avenue and South Dixie Highway/US1 at the entrance to the west Coconut Grove area. Developed by Cornerstone Group Partners and designed in a Neo-Bahamian style by architect Kobi Karp to pay tribute to the early residents of Coconut Grove, Platform 3750 is a pivotal site, serving as a transition between Coral Gables and Coconut Grove.
This eight-floor development is a true mixed income project, in partnership with HUD, Miami-Dade County and the City of Miami. Platform 3750 will consist of 21,000 square feet of commercial/retail space, which has already been leased to Aldi Grocery Store and Starbucks, 191 mixed-income residential units of which 78 units will be leased to low-income families earning less than 60% AMI and the remaining 113 units at market rate, 27,000 square feet of office space and parking for approximately 400 cars.
The economic impact to the area includes nearly 250 construction jobs and 57 new permanent jobs in the retail and building/apartment management operations. These are in addition to the positions held by the Frankie Shannon Rolle Center and the County Commission District 7 offices, as well as the Cornerstone Group corporate headquarters, which will be relocating to Platform 3750 from Broward County. The vast majority of the newly created jobs are slated for the moderate to low-income community and nearby residents.
“This project will be transformative by bringing a mixed-income, mixed-use, transit-oriented development to residents of West Grove who have been neglected for too long. In addition to the jobs and the social services provided, Platform 3750 will bring a value-oriented international grocery store to what is currently a designated food desert. Cornerstone Group Partners is proud to partner with HUD, Miami-Dade County and City of Miami on such an important project that will contribute to the overall well-being of this historic community,” said Lenny Wolfe, Partner, Cornerstone Group Partners.
Platform 3750 is a National Green Building Standard certified project and based on location, is unlike any other development in Miami with its location at a Metrorail stop connected by a pedestrian bridge, allowing residents, visitors, customers and employees to use public transportation, reducing the number of cars on the roads, as well as traffic emissions. As a benefit of the partnership, Miami-Dade County will not pay rent for office space and parking in the building and will also receive a minimum of $250,000 in ground rent annually from the project. The expected completion date for Platform 3750 is late 2022. For more details, visit www.CornerstoneGrp.com.
