Aventura Archives | Page 2 of 4

Dec 11 No Comments

Developer Aims To Boost Density Of Project Near Aventura Brightline Station

Author: Admin

Categories: Aventura,Commercial News,Development,Multifamily

Stellar Communities is seeking more density for an apartment complex planned in the Ojus neighborhood near the Aventura Brightline passenger rail station.

The Dania Beach-based developer, via affiliate 18801 WDH PO LLC, filed plans in May for 204 apartments in a 15-story building at 18801 W. Dixie Highway. It purchased the vacant site of 1.58 acres for $7.85 million in 2021.

The developer recently filed an administrative site plan review application with Miami-Dade County showcasing a new design and more density. The 15-story tower would now contain 245 apartments, 13,816 square feet of retail and 316 parking spaces, with 42 of them available for electric vehicle charging stations. It would secure more density by utilizing the workforce housing density program, which will require 10% of the apartments leased as workforce housing.

Totaling 318,652 square feet, Element Aventura would have a rooftop amenity deck with a pool, a gym, a yoga room, a clubroom and a barbecue area.

Source: SFBJ

Nov 28 No Comments

Commuter Rail From Downtown Miami To Aventura Getting $103M From FDOT

Author: Admin

Categories: Aventura,Development,Wynwood

The Florida Department of Transportation has agreed to commit $103.5 million towards Miami-Dade’s Northeast Corridor rail project, Brightline told investors last week.

FDOT’s announcement came in a November 9 letter to the county, Brightline said.

On the same day, FDOT also informed Broward that it would provide $74.3 million towards its commuter rail project on the same tracks from Aventura to Fort Lauderdale. The two counties are working together on the service.

That brings the total FDOT commitment for the new train service to $177.8 million.

Brightline expects to execute definitive documents with Miami-Dade in the next several months to allow the service on its tracks.

The Northeast Corridor is expected to run 13.5 miles and cost $682 million, including track and right-of-way access fees.

The county is seeking 50% funding from the Federal Transit Administration, 25% from the state and 25% from local funds, according to the project website.

Station locations are being studied at:

MiamiCentral/Government Center (existing)
Wynwood/Edgewater
Design District
Little Haiti
North Miami (near Northeast 123rd Street)
North Miami/North Miami Beach (near Northeast 151st Street)
Aventura (construction already nearing completion)

The service is expected to run 5 AM to midnight, with 60 minute headways. During peak morning and afternoon weekday rush hour times, headways would be 30 minutes.

Engineer HNTB is now working on 30% level rail infrastructure and platform drawings, after the county issued a Notice to Proceed to the firm in August.

Source: The Next Miami

Nov 16 No Comments

Brightline Says Aventura Train Service Will Begin Within Weeks, Take 17 Minutes To Downtown

Author: Admin

Categories: Aventura,Development

We’re just a few weeks away from Brightline beginning train service to Aventura, the company announced recently. An exact date will be announced soon, but will come before year end.

In the meantime, new details of operations in Aventura were released.

Trip time between downtown Miami’s MiamiCentral and Aventura is expected to take about 17 minutes
Trip times from Aventura to Fort Lauderdale will be 14 minutes, according to the Herald.
A ride from Aventura to Boca Raton will take 32 minutes.
Aventura to West Palm Beach will take 56 minutes.

Miami-Dade County will offer subsidized fares for a percentage of riders between Aventura and MiamiCentral.

Design of a pedestrian bridge to Aventura Mall is now 50% complete, according to SFBJ.

The 34,000 square foot station will have an autonomous market and lounges for Smart and Premium passengers.

There will also be a parking garage with 240 spaces, with prices starting at $5 for prepaid parking, rising to $12 if paid at the garage.

Source: The Next Miami

Oct 17 No Comments

Aventura Condo Project Moves Forward

Author: Admin

Categories: Aventura,Commercial News,Development,Multifamily

2151 Development Group and 2020 Acquisitions have received conditional use approval for Tal Aventura, an upcoming 86-unit luxury condo tower in Aventura, Fla. IDEA Architects is behind the design of the 26-story, family-oriented project.

Units are set to range between 2,500 and 3,500 square feet, offering roofed porches and views of the nearby Maule Lake, while penthouses are slated to exceed 6,000 square feet. Common-area amenities, along with public green spaces, will total more than 50,000 square feet.

The South Florida Business Journal reported at the beginning of the month that the 1.6-acre vacant site was recently rezoned for high-density residential development. The plot is situated just off Biscayne Boulevard, at 2785 NE 183rd St., roughly 18 miles north of downtown Miami. Top-rated schools, along with various retail and dining options, are within walking distance of the property.

According to Florida YIMBY, the City Commission will allow the partners to construct 56 units per acre—above the city’s standard limit of 45 units. The tower will also be one story higher than the 25 stories permitted in the area. In return for these benefits, developers are set to contribute $72,000 per year toward the city’s public transportation program, for a total of five years.

South Florida’s dynamic condo market

Despite condo purchases being more difficult to finance in the current high interest rate environment, Miami’s condo market has remained active this year. In late August, Bentley Motors and REALM-Global shared plans for an upcoming 62-story luxury condominium tower in Sunny Isles Beach, Fla. Bentley Residences is set to become the tallest coastal multifamily building in the country.

In July, The Related Group announced the development of a 343-unit luxury condo tower in downtown Miami. Dubbed District 225, the 37-story high-rise will offer units ranging between 441 and 847 square feet.

Source: MHN

Jun 27 No Comments

Housing Trust Group Plans Apartments Near Aventura

Author: Admin

Categories: Aventura,Commercial News,Development,Multifamily

Housing Trust Group filed plans for an affordable/workforce housing complex near Aventura.

The Miami-based developer, through affiliate TH Aventura LLC, filed a pre-application with county officials for the Oasis at Aventura. It would rise on the 1.26-acre site at 18700 and 18790 N.E. 25th Ave., in the Ojus neighborhood.

The property is mostly vacant, except for one single-family home.

Totaling 104,344 square feet, the eight-story Oasis at Aventura would have 95 apartments and 65 parking spaces. Amenities would include a gym, a club room and an outdoor terrace.

HTG said the Oasis at Aventura would have 42 units for people earning up to 70% of area median income, 38 units for people earning up to 60% of area median income, and 15 unit for people earning up to 30% of area median income. The Florida Housing Finance Corp. has already awarded funds for the project.

Source: SFBJ

Jun 06 No Comments

AMAC, ROVR Score $67M Construction Loan For Aventura Park Multifamily Project

Author: Admin

Categories: Aventura,Commercial News,Development,Multifamily

AMAC and ROVR got a jump start on their planned multifamily project near Aventura in the form of a $67 million construction loan.

New York-based AMAC and Coral Gables-based ROVR are developing the eight-story Aventura Park building with 290 units at 17990 West Dixie Highway, according to a news release from the lender, Ocean Bank. The property is along the Oleta River, across from Greynolds Park.

Eddie Diaz led the Ocean Bank team that arranged the financing.

Aventura Park, designed by the architecture firm Anillo. Toledo. Lopez, will include a pool, gym and spa, as well as a six-story building with a 439-space garage. Medley-based Delant Construction is the general contractor.

Construction is expected to be completed in early 2024, according to the release.

An entity tied to AMAC bought the almost 3-acre vacant development site last year for $10.3 million.

Source: The Real Deal

Mar 24 No Comments

800-Plus Apartments Could Break Ground Near Aventura Mall, Future Brightline Station

Author: Admin

Categories: Aventura,Commercial News,Development,Multifamily,Retail

Mill Creek Residential has proposed a 15-story apartment complex just west of the Aventura Mall, near a future Brightline passenger rail station.

The Boca Raton-based developer filed a pre-application with Miami-Dade County for the 4.85-acre site at 2681 N.E. 191st St., on the east side of West Dixie Highway. Mill Creek Residential has it under contract from Miami-based WD 2600 LLC, managed by Bruno Bloch in Miami.

The site currently has an 18,407-square-foot warehouse constructed in 1971 that’s mostly used for truck parking.

It’s located in the Ojus neighborhood west of Aventura.

This particular site is two blocks south from where a Brightline station is under construction.

Modera Aventura would have 840 apartments, 15,245 square feet of retail facing West Dixie Highway and 1,096 parking spaces. It would be developed in two phases of equal size. The two buildings would have separate pools.

Source: SFBJ

Mar 07 No Comments

Turnberry Proposes Office/Retail Project Near Aventura Mall

Author: Admin

Categories: Aventura,Commercial News,Development,Offices,Retail,Shopping Centers

Jackie Soffer’s Turnberry Associates wants to build a 14-story office and retail project near Aventura Mall — and link it through a pedestrian overpass to a future Brightline station.

Turnberry Associates is asking the city of Aventura for conditional use approval for the extra two stories of height from the currently allowed 12 stories on the 3.4 acre site at 2750 Northeast 199th Street, according to the city’s commission agenda documents.

The project, called Two Turnberry, would have 240,000 square feet of offices and 20,000 square feet of retail.

Two Turnberry also would have a bank, food and beverage concepts, and space for Brightline station-related activities, although details are yet to be finalized, according to agenda documents. The building would have an access point to a planned bridge over Biscayne Boulevard leading to the Brightline station, which is currently under construction and is expected to be completed this year.

Source: The Real Deal

Feb 21 No Comments

Mixed-Use Project With High Street Retail Planned As ‘Alternative To Aventura Mall’

Author: Admin

Categories: Aventura,Commercial News,Development,Healthcare,Multifamily,Offices,Retail

Developer Dan Kodsi plans a major mixed-use project with apartments, offices, and high street retail in Aventura.

Kodsi’s Miami-based Royal Palm Companies, through an affiliate, paid a reported $39.1 million for 9.6 acres on the northwest corner of Biscayne Boulevard and Northeast 213th Street.

Reuven Tako and Jacqueline Tako of North Miami sold the properties through affiliates, according to deeds and state corporate records. Greg Greer of CRR Acquisition represented the buyer and sellers.

This is just the first portion of the assemblage, as more deals are on tap for nearby parcels, with the entire site for the planned development spanning more than 10 acres, Kodsi told The Real Deal. Royal Palm Companies could enter joint venture partnerships for the development.

Kodsi declined to name potential project partners or the total purchase price for all of the lots, only saying that the total project’s value would exceed $500 million.

The overall site currently consists of land and small residential buildings that Aventura-based Rieber Developments succeeded in getting rezoned to allow for 1.3 million square feet of mixed-use development, Kodsi said.

Source: The Real Deal

Dec 16 No Comments

Looming Tax Break Deadline Is Spurring Last-Minute South Florida Real Estate Deals

Author: Admin

Categories: Allapattah,Aventura,Commercial News,Development,Healthcare,Miami Beach,Multifamily,Offices,Retail,Wynwood

Time is running out for investors in South Florida seeking a tax break by investing in opportunity zones, which allows for investments in lower-income areas to have tax advantages.

The rush is fueling deals as the population continues to grow due to continued migration to South Florida. Developers hope to get deferred taxable gains on projects such as new hotels, branded residential properties and more.

Dec. 31 is the deadline for individual investors seeking qualified opportunity zone investments to help defer taxable gains. Tax benefits in the program include a 10% basis step-up and related gain exclusion. If investors take advantage of the opportunity, they can defer paying capital gains on their investment until Dec. 31, 2026.

Besides the temporary deferral, other advantages include the exclusion of taxable income on new gains on investments held for 10 years or more, and a 10% increase in the investment if the qualified opportunity fund is retained for five years and a 15% increase if the investment is held for seven years.

After the December 31 deadline, the investors have until June 30, 2022, to invest the funds in businesses located in an opportunity zone to comply with the regulations. If they’re not, there’s a small penalty regarding the interest cost.

There are about 8,700 opportunity zones in the country with 123 opportunity zones in South Florida. Miami-Dade has 67, Broward has 30, and Palm Beach County has 26.

Click here to read more about this story.

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Category: <span>Aventura</span>

Developer Aims To Boost Density Of Project Near Aventura Brightline Station

Commuter Rail From Downtown Miami To Aventura Getting $103M From FDOT

Brightline Says Aventura Train Service Will Begin Within Weeks, Take 17 Minutes To Downtown

Aventura Condo Project Moves Forward

South Florida’s dynamic condo market

Housing Trust Group Plans Apartments Near Aventura

AMAC, ROVR Score $67M Construction Loan For Aventura Park Multifamily Project

800-Plus Apartments Could Break Ground Near Aventura Mall, Future Brightline Station

Turnberry Proposes Office/Retail Project Near Aventura Mall

Mixed-Use Project With High Street Retail Planned As ‘Alternative To Aventura Mall’

Looming Tax Break Deadline Is Spurring Last-Minute South Florida Real Estate Deals

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