Alta Development Lists South Miami's First 16-Story Tower for Sale
The 173-unit SoMi Walk student housing tower near University of Miami is under construction, with a TCO expected in June 2028.
Alta Development has put SoMi Walk on the market for qualified buyers, offering South Miami's first 16-story residential tower as a luxury student housing investment opportunity located minutes from the University of Miami.
The development comprises 173 residences totaling 673 beds, positioning it as a large-scale purpose-built student housing asset in an designated opportunity zone — a federal designation that can provide significant capital gains tax advantages for eligible investors.
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Construction is actively underway, with the project on track to receive its Temporary Certificate of Occupancy in June 2028. Pricing has not yet been publicly disclosed, according to the announcement, and will be determined as the sale process advances with qualified buyers.
South Miami's urban core has seen intensifying development interest in recent years, driven partly by proximity to the University of Miami's Coral Gables campus and the broader growth of South Florida's real estate market. A 16-story tower would mark a notable shift in the area's skyline and density profile.
The opportunity zone designation adds a layer of investor appeal beyond the asset's fundamentals, as the structure can allow deferral or reduction of capital gains taxes for those who meet federal eligibility requirements. Continue reading at Real Estate.
