No Comments

Fort Lauderdale Developer Proposes Boutique Building In Miami Beach

13 Jan Real Estate LLC's 829 Fourth Street-South of Fifth-Miami Beach 1170x435

A Fort Lauderdale-based developer has proposed a boutique mixed-use development in Miami Beach’s South Of Fifth neighborhood.

The developer, 13 Jan Real Estate LLC, led by Oscar Pittini, plans to keep a portion of the existing single-story residential building at 829 Fourth Street adjacent to Meridian Courtwhich was constructed in 1952, and convert it to a mixed-use space.

The five-story development will feature four residential units, each spanning 1,886 square feet, with additional commercial space.

The application does not specify how the commercial space will be used or whether the units will be converted into condos or rentals.

Last year, Pittini paid $2.5 million for the 5,000-square-foot lot, which sits within the Ocean Beach Local Historic District, according to property records. The Miami Beach Historic Preservation Board will hear the proposal Oct. 10.

 

Source:  Commercial Observer

No Comments

12-Story Office Tower At Wynwood Plaza Tops Out

wywood plaza_photo credit the wynwood plaza dot com 1170x435

L&L Holding Co. and Oak Row Equities, with project partner Shorenstein Properties and co-investor Claure Group, have completed the vertical construction of a 12-story office tower situated within The Wynwood Plaza, a 1 million-square-foot mixed-use campus underway in Wynwood.

Upon completion, the office development will total 266,000 square feet and will feature touchless entry and elevator systems, a dedicated parking garage, fitness club, bar lounge, conference and collaboration spaces and an expansive rooftop. Tenants will include Claure Group and law firm Weitz & Luxenberg, which will occupy 25,400 and 18,000 square feet, respectively.

Located at 95 N.W. 29th St., Wynwood Plaza is scheduled for completion in the first quarter of 2025 and will feature 509 residential units, as well as 32,000 square feet of shops, cafes and restaurants.

 

Source:  RE Business

 

 

 

 

No Comments

Developer Revises Plans For The Alton Office Building In Miami Beach

the alton miami beach_photo credit sfbj 1170x435

Through BH The Alton LLC, Shvo and Deutsche Finance America have modified the plans for an office building on Miami Beach.

On 1.4 acres at 1656 Alton Road, The Alton would take the place of a few one- and two-story business buildings. It was initially described as having five floors and 250,000 square feet of offices.

The new plan, however, is for a six-story structure with 181 parking spaces, 11,770 square feet of open roof deck that would be available to office tenants and residents, five residential units totaling 11,826 square feet, and 89,610 square feet of office space.

According to dimensions provided by the Building Owners and Managers Association, the Alton would contain 170,000 square feet of office space, which comprises

 

Source:  RE Business

No Comments

South Beach’s Clevelander To Be Transformed Into Affordable Housing Development

the clevelander affordable housing rendering_image courtesy of boardroom pr 1170x435

The Clevelander Hotel and Bar announced a transformational redevelopment of its current site designed to address the lack of affordable housing in the area. This residential project will be the first of its kind in Miami Beach developed under Florida’s newly enacted Live Local Act.

The Clevelander has engaged a prominent architect to develop what will become one of the most significant affordable housing developments ever to be built on private land in the City of Miami Beach. 40 percent of the units will consist of affordable housing rentals.  The new development will be built on the sites of the Clevelander and adjoining Essex House hotel properties, which are both owned by Jesta Group. The Art Deco facades of these historic buildings shall be preserved and retained.

The lack of affordable housing in Miami Beach has created a pervasive labor shortage in Miami Beach’s hospitality industry.  Workers – particularly those in the hospitality industry — are unable to live near their jobs because of the cost of housing, forcing lengthy daily commutes to and from work.  This labor shortage was further exacerbated in the last few years due to the large number of hospitality workers leaving the industry during the Covid lockdowns.

“We are now facing a severe labor crisis in Miami Beach’s hospitality industry,” says Clevelander spokesperson and Shutts & Bowen attorney Alexander Tachmes. “It is extremely difficult to attract and retain talent in an industry with a dwindling labor pool and nowhere for existing employees to live.”

In the coming days, the Clevelander will be meeting with the City to submit architectural plans for this project under Florida’s new Live Local Act.  The Live Local Act, which went into effect on July 1, 2023, is a statewide workforce housing program designed to increase the availability of affordable housing opportunities, thus allowing Florida’s workforce to live in the communities in which they work. The Act makes it economically feasible to build affordable housing by eliminating harsh and overly restrictive zoning regulations.

For example, for a qualifying project under the Act, the maximum height allowed for an affordable housing project can be as tall as the highest building allowed within one mile of the site.  In the case of the Clevelander property, the maximum height allowed is approximately 30 stories.  Similarly, the maximum density allowed is equal to the highest density allowed anywhere in the respective city.  Under the Act, the Clevelander redevelopment project’s maximum density would be 150 residential units per acre. Additionally, the affordable housing units would be guaranteed to stay affordable for 30 years.

“Since purchasing the Clevelander Hotel and Bar a few years ago, we have been proud to operate this legendary and iconic establishment in South Beach.  Although we are happy to continue operating as we have, some have expressed a desire that we change our business model at the property.  With the Live Local Act, we now have a unique opportunity to do that.  The Act allows us to redevelop the Clevelander and Essex House sites with enough density and square footage to justify the shift in our business model while providing an important public service in the form of affordable housing,” said Anthony O’Brien, Senior Managing Director of Jesta Group. “We are excited at the unique opportunity to offer true affordable housing on South Beach which will remain in place for decades to come.”

The new development will transform the legendary Clevelander from its current use as a hotel and bar with outdoor entertainment until 5 a.m. into a residential development with hotel services and a high-end restaurant on its ground floor.  The Clevelander’s current staff will be given priority to fill positions in the new project.

For years, the Miami Beach Mayor and Commission have been attempting to change the business model of South Beach in order to reduce its supposed dependency on nightlife tourism. Until now, there has been no forum for dialogue with the Mayor’s office regarding reasonable and effective tools that would make it financially feasible to revamp the Clevelander’s current business model.

Today, thanks to the Florida Legislature, the economic paradigm for development on Ocean Drive has finally been sufficiently modified to make possible a change of use at the Clevelander.  Notably, this change is occurring because of economic incentives and cooperation, rather than punitive legislation.

“We applaud the State of Florida for making this happen,” added Tachmes. “This is a huge win on multiple levels. The city wins by achieving its goal of turning a nightlife venue into a sophisticated restaurant and replacing hotel rooms with residential product on Ocean Drive.  The city and hospitality workers win by the introduction of a significant quantity of affordable housing, which will give the hospitality community greater options to live in the community in which they work.  And the Clevelander wins by replacing a highly profitable business with enough potential development revenue to justify a change in business models.  And all this can be done while maintaining the beautiful historic Art Deco facades that have made this property and the surrounding neighborhood so iconic.”

 

No Comments

Construction Permit In Process For 289-Unit Wynwood Urby, Contractor Named

The Wynwood Urby Apartment and Retail Project Planned At 60 N.E. 27th St., Miami 1170x435

The permit was applied for in May, with the full plans filed on June 27 and now in review.

The hard construction cost is estimated on the permit at $69,800,000. Beauchamp Construction is listed as the contractor.

The project was first reviewed by the Wynwood Design Review Committee in April 2022.

A total demolition permit to clear the site was applied for last July. Then in August, a utilities deal for water and sewer was signed.

Wynwood Urby is planned to include:

  • 289 apartments
  • 8,000 square feet of full service restaurant
  • 9,200 square feet of retail
  • 1,450 square feet of office
  • 193 parking spaces

Urby is a joint venture between David Barry and Brookfield Properties.

Amsterdam’s Concrete is the design architect, with 5G Studio the architect of record.

 

Source:  Next Miami

No Comments

Eco Stone Plans $35M Multifamily Project In Allapattah

Eco Landing Rendering_Image Credit-Eco Stone Group 1170x435

Eco Stone Group plans to begin construction this month on its first ground-up development, a $35 million apartment building in Miami’s Allapattah.

An affiliate of Miami-based Eco Stone secured a $23 million construction loan from Popular Bank for Eco Landing at 1515 Northwest 18th Street and 1601 Northwest 18th Street, said company CEO Javier Gomez.

Eco Stone, also led by Gomez’s brother Juan Gomez, is finalizing Eco Landing’s master permit, and expects to break ground soon on the proposed eight-story building with 125 apartments, Gomez said.

Last month, Eco Stone demolished a two-story building on the site with 16 apartments built in 1987, and also tore down a one-story building with 20 apartments completed in 1972. Between 2019 and 2020, the affiliate paid a combined $4.2 million for the two properties.

Founded in 2003, Eco Stone is also targeting Allapattah for its second planned development, Eco Station Tower at 1880 Northwest 36th Street. That project will entail 150 units primarily for low-income tenants, Gomez said.

 

Source:  The Real Deal

No Comments

Total Demolition Permit Submitted For 2000 Wynwood

2000 wynwood multifamily 1170x435

A total demolition permit has been submitted for the 2000 Wynwood site, where an apartment building is planned.

The demolition permit was applied for on July 20, with the full plans filed August 9 and now under review.

The estimated cost listed on the permit is $13,000.

A new construction permit to build a multifamily rental building was submitted in December 2022 and is still in process.

In February, the developer signed a deal for water and sewer utilities for 310 apartments, 1,000 square feet of full service restaurant, and 8,300 square feet of retail.

In June, the project had hearings before the Wynwood Design Review Committee and the Urban Development Review Board.

Both boards voted to recommend approval with conditions.

The 12-story project is proposed to include:

  • 310 residential units
  • 9,416 square feet of retail
  • 308 parking spaces

 

Source:  The Next Miami

No Comments

Two Mixed-Use Projects Proposed In Wynwood, With Green & Wood Exteriors

W9183 1170x435

Plans for a pair of new mixed-use projects have been filed in Wynwood.

The project names are listed as W2 & W9183 in the submittals.

W9183 is proposed to rise 5 stories and include:

  • 34 residential units
  • 5,250 square feet of ground floor retail space
  • activated rooftop
  • no onsite parking, six offsite spaces (reduced by payment into the Wynwood Parking Trust Fund)

Architectural materials will include green aluminum railings, green metal architectural frame, engineered wooden ceilings, green stucco with scorelines, green mullion, grey tinted glass (upper levels), and clear glass (ground floor).

W2 is proposed to rise 5 stories and include:

  • 34 residential units
  • 5,250 square feet of ground floor retail space
  • activated rooftop
  • no onsite parking, six offsite spaces (reduced by payment into the Wynwood Parking Trust Fund)

Architectural materials will include white aluminum railings, wooden architectural frame, engineered wooden ceilings, dark stucco with scorelines, white mullion, grey tinted glass (upper levels), and clear glass (ground floor).

Arquitectonica is the architect for both projects.

A hearing before the Wynwood Design Review Committee was scheduled for July 18.

Kushner and Block Capital are shown on the submittal package as the developers.

 

Source: The Next Miami

No Comments

Residential Building Boom Hits Aventura

Photo Credit-ONE Park Tower by Turnberry 1170x435

Aventura and North Miami are in the midst of a multi-billion-dollar transformation, featuring new housing developments, schools, retail, transit and more.

Aventura, where the median single-family home price jumped 25% from $990,000 in 2022 to $1.237 million in the first quarter of 2023, according to a market report from ONE Sotheby’s International Realty.

Aventura’s population has steadily increased since 1990, when it was about 15,000. It grew to 25,000 by 2000, 35,000 in 2010, and today roughly 40,000 people call Aventura home. North Miami’s population jumped from about 50,000 to nearly 60,000 during the 1990s, and it has remained steady since then.

The same is true just south in North Miami, which has seen a more than 400% increase in residential units from 2019 to 2022, with more on the way, plus seven new schools and a boost to its local commerce. Nearly 20% of the area’s nearly 2,300 businesses opened since the start of 2022.

Now, developers are working to capitalize on the region’s growth with a series of housing developments new to the market, in construction or in the planning stages.

One of the largest is the 184-acre SoLé Mia community, led by Jackie Soffer’s Turnberry Development and Richard LeFrak’s LeFrak Organization. The developers have plans for thousands of residential units, 1.5 million square feet of retail and commercial space and a 10-acre University of Miami UHealth Medical Center, scheduled to open in 2025. The residential offerings will include the 33-story ONE Park Tower by Turnberry overlooking South Florida’s first seven-acre swimmable lagoon.

North Miami developments in the works include:

  • Aliro Luxury Apartments, 1820 NE 142nd St., approved to add 519 additional residential units and a parking garage.
  • Allure of North Miami, 1810 NE 146 St., approved to build a two-acre apartment complex with 360 units and a percentage of affordable housing options.
  • La Maison, 1850 NE 123rd St., approved to develop 297 residential rental units and 18,500 square feet of retail and restaurant space.
  • NoMi Square, 13855 NW 17 Ave., approved to build a seven-story development with 338 units and a public park.
  • North Miami Condos, 840 NE 130th St., approved to build a six-story, 67-unit luxury residential project with green building design and transit components.
  • Oleta, NE 151st St. & NE 20th Ave., approved for four residential towers with nearly 20,000 square feet of commercial and restaurant space.

Aventura is witnessing a wave of building and infrastructure improvements as well. The projects will upgrade Aventura Mall, add the new Brightline train station, bring on a new Hyatt House Hotel and introduce several new restaurants, retai shops and luxury residences.

Some residents there have expressed concerns about proposed changes to the land development regulations in the city’s master plan. They cite the potential for increased traffic and an influx of high-rise buildings along the beach. Last month, a change.org petition launched seeking to “stop excessive development in Aventura,” and it has collected more than 1,400 signatures.

How that might affect the future of development in the area is still unclear, but there’s no denying Aventura and North Miami are booming.

 

Source:  South Florida Agent Magazine

 

No Comments

New Mixed-Use Project Coming To Allapattah

Coral Gables-based Coral Rock Development Group unveiled plans for Dulce Vida, a transformative mixed-use, mixed-income development in Miami’s Allapattah neighborhood. The project will add to the area’s revitalization and enhance the community’s access to affordable housing options.

Situated on a 1.3-acre site at 1785 NW 35th Street, Dulce Vida is a prime example of Florida’s new SB 102 law aimed at promoting mixed-income developments and increasing access to affordable housing. The project will consist of 200 rental units, thoughtfully designed to cater to a diverse range of residents. Of these, 85 units will be designated as affordable housing at 60% of Area Median Income (AMI), another 85 units will be allocated for workforce housing at 100% AMI, and 30 units for workforce housing at 120% AMI, ensuring a variety of housing options for different income levels.

At the heart of the Dulce Vida project is a new state-of-the-art Miami-Dade Public Library System Allapattah Branch Library, located on the ground floor. This facility will replace the existing Allapattah Branch Library currently at the site and will provide access to a modernized library with the latest library resources, technology, and specialized areas for library users of all ages.

Coral Rock Development Group is proudly partnering with Miami Bethany Community Services, a local nonprofit church deeply rooted in the Allapattah neighborhood, which will play a pivotal role in providing community outreach and involvement initiatives. They will collaborate with residents, local organizations, and businesses to ensure that Dulce Vida positively impacts the community.

“We are thrilled to introduce Dulce Vida, a transformative development that combines the crucial elements of affordable housing, community amenities, and improved access to educational resources,” said Michael Wohl, principal of Coral Rock Development Group. “This project is a testament to our commitment to creating inclusive and sustainable communities that cater to the diverse needs of Miami residents. We look forward to collaborating with the Allapattah neighborhood and Miami-Dade County to make this vision a reality.”

Designed by Behar Font & Partners, Dulce Vida will offer an extensive array of amenities including a state-of-the-art fitness center, a community lounge with a kitchenette and club room for social gatherings, a private conference room, a BBQ area for outdoor cooking and entertainment, an outdoor lounge and games area, a children’s playground, a dedicated dog park, and a parcel package room with lockers for added convenience. The project will also feature electric car charging stations, encouraging sustainable transportation options, as well as bicycle storage and repair facilities to promote eco-friendly commuting alternatives.

“Coral Rock Development Group is not investing in buildings, they are investing in people,” said Commissioner Alex Díaz de la Portilla, City of Miami Commissioner for District 1. “Dulce Vida is a significant contribution to the City of Miami’s attainable housing efforts and will provide much needed housing for low-income residents, as well as law enforcement officers, firefighters, teachers, nurses, and city employees.”

Coral Rock Development Group has particular expertise in developing multifamily workforce housing projects along with mixed-use and affordable developments. Recent projects include Pura Vida Hialeah, Kayla at Library Place, and Card Sound Key Apartments, among numerous others.

Pricing for the rental apartments will begin at $1,084 for studios, $1,161 for one-bedroom units, and $1,393 for two-bedroom units with all prices inclusive of utilities.

Groundbreaking on the project will begin in the third quarter of 2024, with a scheduled completion date at the end of 2025.

During the construction phase, the existing Miami-Dade Public Library System Allapattah Branch Library will be temporarily relocated and continue to operate in a nearby location, ensuring uninterrupted access to its services and resources for the community.

 

© 2024 FIP Commercial. All rights reserved. | Site Designed by CRE-sources, Inc.