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Project Breaks Ground Near Proposed Train Station In Wynwood

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Chicago real estate development company Fifield Cos. broke ground on a high-end apartment building in Wynwood that will be less than a block away from a proposed train station.

The company announced it started construction on Wynwood Station at 45 N.E. 27th St. on Feb. 8. The eight-story building will consist of 210 market rate apartments ranging between 567 and 1,036 square feet in size and include 11,000 square feet of retail.

Financed by a $66.9 million construction loan, Wynwood Station is being built on a 1.41-acre site that Fifield Cos. acquired for $19.5 million in January 2022.

Designed by Kendall-based MSA Architects, the project is slated to be finished by April 2025.

 

Source:  SFBJ

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Calta Completes Allapattah Assemblage Slated For Mixed-Use Project

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Calta Group purchased a 0.3-acre office property in Allapattah that completes an assemblage for Revv at the River District, a planned mixed-use project featuring workforce housing.

The Coral Gables-based developer is in the midst of a $47.2 million buying binge in Allapattah with plans to build four new projects. The firm’s latest acquisition, a $7.2 million purchase of a seven-story building at 1469 Northwest 13th Terrace, will be coupled with another 0.7-acre adjacent site for Calta’s first planned project.

Miami-based Benworth Capital provided Calta with a $9.4 million cross-collateralized loan for the acquisition, records and Vizzda show.

The property’s seller, an entity controlled by Miami-based Alisa Capital managing partner Arturo Siso, paid $5.9 million in 2012.

 

Source:  The Real Deal

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New Class A Office Planned For South Beach

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An approved plan calls for the construction of a new Class A office building in South Beach by premium real estate developer Shvo.

The Miami Beach Planning Board unanimously approved the construction of One Soundscape Park on January 30, according to Michael Shvo, CEO and Chairman of the real estate development company. Located at 1665-1667 Washington Ave., this five-story Class A office building spans 62,500 square feet and is situated across from both SoundScape Park and the New World Symphony.

According to a press release, the project would be the first office structure built by Peter Marino Architect, a 160-person architecture business based in New York that Marino started in 1978. The building will have a roof terrace, on-site valet parking, and a private porte-cochere entrance with vertical gardens. It will be co-designed by Miami-based firm Kobi Karp Architects.

 

Source:  SFBJ

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Developer Proposes 120K SF Office With Studio Apartments In Aventura

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Privé Group is planning to build 120K SF of office space in the Ojus neighborhood near the Aventura Mall.

The Aventura-based investment and development firm filed a pre-application on Wednesday seeking approval from the county to build an 11-story office building and a small residential building connected by a seven-story parking garage at 18802 and 18820 W. Dixie Highway.

The Arquitectonica-designed development is called Aventura Office Center in a site plan for the three structures submitted with the application. The office building includes 4,400 SF of ground-floor commercial space and a rooftop terrace with landscape architecture from the Miami office of Enea, which is headquartered in Switzerland.

The office would front Dixie Highway with a two-story residential building set in the rear of the 1.32-acre site behind the parking garage. Privé is planning 12 studio units at the building sized at around 380 SF each.

Floor plates at the office building would span around 14K SF, with elevators, staircases and bathrooms in the core of the building.

The proposal is an update to plans submitted more than six years ago called Aventura Square. A local community council approved plans in June 2017 for Privé to build 94K SF of office condos, 5,700 SF of retail and 340 parking spaces on the site, the South Florida Business Journal reported. The council also approved up to 12 apartments at the property.

The original plans called for an eight-story building, but zoning rules have since been modified to allow buildings up to 12 and 15 stories in the Ojus District, allowing Privé to submit its 11-story plan, according to the letter of intent submitted by Vazquez with the application.

Source:  Bisnow

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Construction Permits Filed For 186-Unit Wynwood Residential Development

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Another residential development has entered the construction permitting process in Wynwood.

The construction permit application is for a 12-story mixed-use building replacing a parking lot formerly owned by the Salvation Army.

The permit filing was first created in late November, with the full plans filed in late December. Review is currently underway by Miami’s Building Department.

Beauchamp Construction is listed as the contractor on the permit.

Miami’s Urban Development Review Board voted unanimously in October to approve the development without requiring any modifications.

The mixed-use development is planned to rise 12 stories and include:

  • 186 residential units
  • 9,444 square feet enclosed amenity space, plus outdoor amenity space
  • 14,618 square feet of ground floor retail space
  • 167 parking spaces on three levels

Breakers Capital and Alchemy-ABR Investment Partners of New York are the developers.

Arquitectonica is the architect.

 

Source:  The Next Miami

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‘The Julia Residences’ Open For Pre-Leasing In Miami’s Newest Art District

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Neology Development, led by Lissette Calderon, has begun pre-leasing for its residential mixed-use apartment complex, “The Julia Residences.”

The stunning $100 million, new 14-story residential tower, characterized by artistic design, is set to grace Miami’s Allapattah neighborhood, with completion expected in the 1st quarter of 2024.

The Julia offers a unique opportunity for individuals looking to live, work, and play in Miami, with a unique market value proposition. One-bedrooms rent as low as $1,765, and two-bedrooms start at $2,411 per month.  Residents who apply now can take advantage of promotional pricing that offers two months free. With the exclusive pre-leasing offerings, prospective tenants can secure a new apartment in Miami’s trendiest community at an excellent price point.

“We are thrilled to announce that we are now pre-leasing for The Julia, inviting art enthusiasts and professionals alike to embrace unique living experiences, modern amenities, and breathtaking views of Miami’s city skyline,” said Lissette Calderon, President and CEO of Neology. “With the soaring demand for high-quality housing in the area, we are eager to introduce this exceptional community priced within reach to renters seeking proximity to work, renowned art galleries, and the cultural heartbeat of Miami. The value proposition we’re offering for living in Miami is unmatched, and that truly sets The Julia apart from any other option available.”

Comprising 323 carefully curated one- and two-bedroom apartments, The Julia is located at 1625 NW 20th Street, in the heart of Allapattah —a historic neighborhood bordering Wynwood and Miami’s Health District. Recognized nationally for its museums, galleries (including the Rubell Museum and Superblue), cultural institutions, new businesses, and vibrant nightlife, Allapattah has emerged as one of Miami’s most desired areas.

Inspired by the visionary Julia Tuttle, The Julia embraces a “tropics-meets-metropolis” aesthetic, blending Art Deco with 1950s-style glam. Offering one-of-a-kind living experiences at an attainable price point, the pet-friendly property features a mix of one- and two-bedroom apartments ranging from 600 to 1,000 square feet.

 

Source:

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Rentyl Resorts Partners With New Luxury Hotel Brand To Develop, Manage Upscale Historic Hotel In Miami Beach

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Rentyl Resorts announced its collaboration with DaVinci Hospitality Group and Ferrari Group to brand and manage a new, cutting-edge boutique hotel at 2814 Collins Avenue in Miami Beach.

This partnership unites Rentyl’s expertise in creating authentic, extraordinary experiences with DaVinci Hospitality’s proven success in developing captivating properties.

“We are delighted to work with DaVinci Hospitality Group,” said Nicholas Falcone, CEO of Rentyl Resorts. “This venture aligns perfectly with our goal of providing a unique Miami Beach experience at a vibrant condo hotel.”

Set for transformation into a chic 44-unit retreat, the property boasts a prime location with direct beach access and proximity to fine dining. In homage to autistic artist J. Stacholy, whose historic mosaic graces the courtyard, the hotel will feature artworks by other local artists, celebrating Miami’s rich cultural and artistic heritage.

The ground floor will debut innovative restaurant and entertainment concepts, reflecting Miami’s diverse cultural and culinary landscape. Rentyl and DaVinci Hospitality will work collaboratively to preserve the property’s historical significance, while integrating contemporary design elements and cutting-edge technologies to ensure the highest possible overall guest satisfaction.

Rentyl will employ targeted branding and marketing strategies, alongside comprehensive hospitality services including front-office operations, concierge services, and exceptional management, to position this boutique hotel as a top Miami destination. Additionally, this partnership enhances developer options by offering the flexibility to consider integrating condo sales into Rentyl Resorts’ comprehensive rental program.

Together, Rentyl Resorts, DaVinci Hospitality and Ferrari Group look forward to creating an unparalleled hospitality experience at this iconic Miami Beach location.

 

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Miami Beach Weighs A Hotels Moratorium

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Miami Beach, the county’s visitor magnate for a century, is considering a moratorium on adding hotel rooms.

A discussion headed to the city commission’s Land Use and Sustainability Committee is to weigh repeal of floor area ratio incentives for hotel developments, a cap on hotel rooms based on zoning districts, and a recently enacted New York model for addressing the limits on approvals for hotels.

The city commission approved a market study researching the correct balance of residents and hospitality in Miami Beach in December 2021.

“The reason why I commissioned this study is [because] I think that you hit a fine line when you cross over a certain amount of hotel rooms versus residential, and studies like this have been done in other communities.… I wanted to get this presentation and have a robust discussion. We might have to recommission this study,” said Commissioner Kristen Rosen Gonzalez, who brought the discussion to the city commission in December.

“I think it’s a very different commission,” she said at that meeting. “I think that … the former commission was a lot more excited about building thousands more hotel rooms and the reason I commissioned this study was so that we would stop…. We’re going to… flood the market now with an additional 800 rooms when the new Convention Center hotel hits.”

In addition to Commissioner Rosen Gonzalez’s initial item, the complexity of the topic interlaced with other commissioners’ talking points.

A discussion to repeal the floor area ratio incentive for hotel development in areas like the commercial district was approved to be sent to the Land Use and Sustainability Committee, said Commissioner Alex J. Fernandez.

“I think that’s going to be important, sending a big message when we repeal an incentive like that that right now incentivizes hotel development, and we’re going to be discussing that at Land Use,” he said. “We also approved a referral to the Land Use Committee on another item to establish a cap on the maximum number of hotel rooms that may be developed in particular zoning districts.

“As part of that discussion,” he said, “we’re looking to limit which zoning districts permit hotels, increasing the minimum and average unit size potentially for hotel rooms because that’s one of the ways through which we can limit hotel development and promote more permanent residential development and limit the density of new hotel rooms in the city.”

Commissioner Fernandez suggested that the discussions are “all alike and almost belong together at the Land Use Committee” and could be referred a single conversation.

In the December meeting, commissioners pointed to 21,000 hotel rooms in the city and a little over 2,000 hotel rooms in the pipeline to be built.

Commissioner Rosen Gonzalez used the statistics to showcase her point.

“You’ve got an additional 2,000 rooms including the Convention Center hotel, which would take us to 23,000,” she said. “I would say after listening to this we consider a possible moratorium and then the city can possibly absorb more hotel rooms, but right now we are suffering economically. Across South Beach, there’s rooms at $40 … a night.”

“I believe in supply and demand,” said Commissioner Joseph Magazine. “I believe that our ecosystem is out of whack, and I want that to be data dependent and data driven. For years, ever since 2017 when the state and local tax reform was passed that actually was the catalyst for the wealth migration out of high tax states like New York, Illinois, California, and the entire rest of our region benefited from that, we just continue adding… hotel[s], whether that leads to a moratorium or something else.

“We need to address this,” Mr. Magazine said. “It needs to be data driven. We are not adding full-time residential housing. That’s a fascinating stat that we have about 20,000 hotel rooms. We’re increasing our capacity by 10%.”

Some sort of action must be taken, said Commissioner Rosen Gonzalez. She suggested a case-by-case system whereby “if anybody wanted to build a hotel, and they had some ridiculous vision that was not permitted and they had a new use,” she said, “they could come before us and they could ask for special permission. But I would like to stop it. Because I don’t think we need any more hotel rooms right now.”

“That [Gonzalez case by case idea] actually segways into a conversation I’ve had with legal,” said Commissioner Magazine. “It didn’t make the December agenda, because we’re still fleshing out the legal viability of that, but New York City, just in recent years, actually said you can no longer build a hotel as of right. It has actually come to their version of the city council, and I would entertain something like that because I don’t know if I’d buy into a complete moratorium for a six-star hotel in the Faena district, on the waterfront where room rates are $1,200 a night … sure, maybe that adds to things.”

“However, more infill hotels in the middle of Collins Park or other areas that should be dedicated and provide incentives for full-time residential housing,” he said, “essentially, an ordinance like that, which I’m going to continue to discuss with legal actually would provide a case-by-case basis. I don’t want to say that we would make exceptions, but for a certain period of time, we could even say until the Convention Center is built – I originally had three to five years but I think maybe that’s a great leeway – that any hotel application actually has to be approved by the City Commission and could no longer be done as of right.”

 

Source:  Miami Today

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Developers Obtain $64 Million Construction Loan For Aventura Multifamily Project

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Belmont Village and Turnberry Associates obtained a $64.21 million construction loan to build a senior living facility in Aventura.

Parcel U / SR-1 Trust LLC, an affiliate of Aventura-based Turnberry Associates and the Soffer family, sold the 1.4-acre site at the southeast corner of East Country Club Drive and Yacht Club Way for $8 million to Belmont Village Aventura Property Owner, a joint venture between Houston-based Belmont Village and Turnberry.

Synovus Bank provided the construction loan.

The developers filed plans for Belmont Village Senior Living Aventura in early 2022. It was ultimately approved for 184 senior living beds. Amenities would include a dining room, a sports lounge, a wellness room, a library, an arts and crafts room, and a salon.

 

Source:  SFBJ

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Developers Secure $47M For Rare South Of Fifth Office Building In Miami Beach

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Real estate firms Sumaida + Khurana and Bizzi + Bilgili have secured $47.25 million in construction financing for The Fifth Miami Beach.

The five-story project designed by Spanish architect Alberto Campo Baeza is the first office development to be built in Miami Beach’s swanky South of Fifth neighborhood in decades. It will be Campo Baeza’s first Miami project and first commercial building in the United States.

 

Source:  Commercial Observer

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