“Shvo Receives Approval for Miami Office Development Project”

"Shvo Receives Approval for Miami Office Development Project"

Foster + Partners has recently unveiled plans for a new mixed-use building, The Alton, situated in the bustling city of Miami Beach. Developed by SHVO, this six-story structure will feature ground-floor retail spaces and two levels each dedicated to parking and residential units. Additionally, three floors will be designated for office use while rooftop gardens add a touch of greenery to the urban landscape. Located on Alton Road at its intersection with Lincoln Road – known as Miami Beach’s premier shopping destination with high foot traffic – this project is set to become an iconic addition to the area.

The final approval from the city has been obtained by Shvo for their 170,000 square feet office space and 17,000 square feet retail space development which also includes five luxurious condos on its top floor along with ample parking facilities comprising of 181 spaces. This expansive project spans over a vast area of 1.38 acres encompassing addresses such as1656-1698 Alton Road and1677 West Avenue.

This venture is being jointly undertaken by Michael Shvo in collaboration with Deutsche Finance America based out of Germany who acquired this property at $39.2 million in early2022.

The developer aims to commence construction work during early months of2024.

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