It’s official: Fisher Island is set for 57 new condos and 12 single-family homes.

The Miami-Dade County Commission approved a plan last week that would bring the total number of residences on the private, 216-acre island to about 800 condo units and about 20 single-family homes.

Construction of the new residences is slated to begin in 2022, with completion in 2025, according to Kobi Karp, founder and principal of the Miami-based Kobi Karp Architecture & Interior Design, project architect.

The new construction is expected to cost up to $1,000 per square foot, Karp said.

That will put pricing — not yet disclosed — above many recent sales. Of the 42 Fisher Island sales in the last 12 months, 25 sold for less than $1,000 per square foot.

Shuffield said the additional units probably won’t affect resale prices of existing units. “If these units are going to be priced more expensively, then it might help these other units [on the island], because it may draw buyers to them. If they are less in price, it may compete [with existing inventory.”

(source: miamiherlad.com image: miamiherald.com)