No Comments

7-Story Hotel Proposed In Miami Beach

Rendering of Cloud One Hotel in Miami Beach_Image Credit Arquitectonica 1170x435

On April 25, the Miami Beach’s Planning Board will take a look at the application for the 0.63-acre property located at 1509 and 1515 Washington Ave.

Currently, it consists of a thirteen-unit apartment complex constructed in 1948 and an 11,458-square-foot retail structure added in 1959. Playa Café, Charlotte Bakery, Cheese Burger Baby, and 123 Liquor are some of the recent tenants.

Current property owner Washington Gardens MB LLC has agreed to sell the development site to 1515 Washington Acquisition LLC, co-owned by Xaver Kriechbaum and Gavin Crescenzo of Aventura-based Keyah Real Estate Group, according to the application.

Under the proposal, the property would be developed with a 91,230-square-foot hotel featuring 238 rooms, a 5,677-square-foot restaurant on the ground floor, a pool deck with a small bar on the second floor, and a 3,525-square-foot restaurant on the top floor. There would be no parking on site.

According to the renderings, the property is labeled as a Cloud One Hotel, a European chain with one site in the United States right now, in New York City.

 

Source:  SFBJ

No Comments

Fisher Brothers Tops Off Wynwood Mixed-Use Development

Rendering of Eight-Story Midrise at 2200 NW First Avenue_Courtesy of Fisher Brothers 1170x435

Fisher Brothers recently topped off Wynhouse Miami, a mixed-use multifamily development in Miami’s Wynwood neighborhood. Delivery is set for the first quarter of 2025.  

The eight-story midrise at 2200 NW First Ave. will bring 308 rental units to market. Apartments will range from 474 to 1,405 square feet and feature a mix of studio, one- and two-bedroom floorplans, as well as penthouses. 

Community amenities will include 26,000 square feet of ground floor retail and paseo space and almost 25,000 square feet of indoor and outdoor amenities, including a lobby lounge, second-floor lawn area, fitness center, co-working lounge, entertainment space, rooftop pool and spa, outdoor entertainment space and barbeque area.  

“Wynhouse Miami is the most exciting project yet in Fisher Brothers’ House brand, which will bring a unique character designed to match and enhance the existing culture, history and energy of Wynwood,” Fisher Brothers Partner Winston Fisher said in a press release. “We look forward to the next phase of bringing Wynhouse Miami to life and finalizing its multitude of amenities and artistic details.” 

Nichols Architects designed the building, while Suffolk is the general contractor. Interiors were designed by ID & Design International, and Rockwell Group is handling the amenity spaces. 

“Today’s achievement celebrates a monumental step in our collaboration with Fisher Brothers to transform Wynhouse Miami from an idea into reality,” said Jay Fayette, president, Suffolk Florida East Coast. “Our industry-leading approach to construction and sophisticated technologies have made the construction of this unique mixed-use building seamless. We look forward to completing this project throughout the year and opening the doors for the Wynwood community to enjoy.”   

 

Source:  South Florida Agent

No Comments

First Phase Of Lincoln Road Makeover Funded

Lincoln Road Makeover Rendering 1170x435

A project is underway on Miami Beach to improve Lincoln Road’s 100, 200 and 300 block and first-phase funds are lined up.

“We started off with a plan for the 100 block, our first phase,” said Peter Kanavos, a partner of the Ritz Carlton Sagamore group. “We’re working subsequently on trying to do the same to revitalize the 200 and the 300 blocks.”

The process is in phases, said Mr. Kanavos. “The monies that we were able to get from the state are going to the first phase, in which we and the city are making equal contributions of $4 million and the state has kicked in about $4.85 million to put towards the reconstruction of the road…. We have something like 7,000 people a day that go back and forth from that beach entrance. It’s a little dilapidated, so we really want to clean that up and make it a beautiful place for people to enter the beach.”

Although the project is well underway, the timeline depends on multiple factors.

“We’re going through an appeal period right now where one of the neighboring hotels has – I think they’re the only people in the whole city that have had objections, which are kind of unclear why, but they’ve been staging an appeal, and that will probably last until sometime this summer,” said Mr. Kanavos. “They already failed with the special magistrate; the first stage of the appeal was this special magistrate. The city and us won that appeal and then I believe the next appeal will not be successful.”

“If we are able to really get over that appeal period, construction of the road would probably start sometime in the first quarter of 2025,” he said, “looking at perhaps 24 months to complete. That can slide. That’s all dependent on a number of factors.”

The improvement was spawned by an analysis he made, said Mr. Kanavos, that showed census statistics that Miami Beach has lost considerable population since 1990. This is most evident in the city center, between Fifth and 23rd streets.

“That has really contributed to a lot of problems, because the eastern end of Lincoln Road, the 100 blocks and 300 blocks in particular – although the whole district – but those areas in particular, are showing the effects of a dwindling neighborhood. We have issues of dereliction, homelessness, crime and so forth,” said Mr. Kanavos.

“What it told me was that we had to repopulate this area as a neighborhood and in order to do that, we have to start really cleaning things up,” he said.

“So the contribution that we made was number one: we reduced the number of our hotel rooms in order to be able to put up a residential condominium, which is going to be part of the Ritz campus.”

For a long time, the city has been living behind a façade of tourism, said Mr. Kanavos.

“That covers up a lot of the sins of a dwindling population,” he said. “If we had been in any other city, without the kind of strong tourist market that we have, and we’d been losing this much population, it would be a disaster.”

Tourism has covered up the issue, but tourists don’t behave like residents do, said Mr. Kanavos. They don’t worry about the crime or a neighborhood becoming seedy – that is, until it gets to the point in which they must go elsewhere to vacation.

“Residents, on the other hand, are engaged,” Mr. Kanavos said. “They have their eyes on the street. If you take a look at South of Fifth, for instance, you look at the character of that neighborhood. It’s clean, it’s neat, it’s safe, because it’s got such a strong residential population. “The first impulse that we had to start this whole thing off was: how do we make this more habitable to bring residential back and that would entail not just building a condominium, but also we wanted to improve the whole quality of the streets,” he said.

The beautification will improve different aspects.

Traffic patterns will be changed in order to make them safer, as currently there are unsafe points, said Mr. Kanavos. An entry monument will be included, inspired by the arts of famed area architect Morris Lapidus that he planned but was never able to effectuate.

“We want to put that entrance monument at the end of the street to mark the beginning of the beach path,” said Mr. Kanavos. “Of course, it’s going to be relandscaped, and we have an art walk planned. We want to be putting public art on both sides of the street – to be determined what – probably, some form of statuary or other forms of art which are to be determined, but we have that plan. It’s really going to become a showcase. And that’s for the 100 block.”

Subsequently, the plans to help the 200 and 300 blocks go through the same transformation are being worked on, said Mr. Kanavos, all part of an effort to turn an area that has been on the decline into a showcase of the city and attract new residents.

“It’s a necessary thing,” said Mr. Kanavos. “It’s been kind of a neglected part of the city even though it’s totally iconic. I mean, when people come to Miami, that intersection between Lincoln and Collins, and Lincoln and Washington, that stretch there has always been one of the most notable parts of the city that people identify Miami Beach with, but in the last few decades it hasn’t seen the kind of attention that it really should get and now we’re trying to rectify that.”

While working on the first phase, they are planning the second: the 200 and 300 block, said Mr. Kanavos. “In fact, we’ve actually already produced a conceptual plan and we’re at the point where we’re just about ready with the county and the city to effectuate the road closure; the ability to close the street off to vehicular traffic on the 200 and 300 block with the idea in mind making an extension of the pedestrian mall further to the west, Lincoln Road Mall.”

The plan is aimed to restore a strong residential component, he said, that will also help businesses thrive due to consistent business residents will provide the stores along Lincoln Road that now battle a fluctuating economy due to dependence on tourism.

“The store owners often tell me that they’re not really getting the kind of tourists that spend a lot of money there,” he said. “I guess you could say they’re underperforming; they’re surviving but underperforming. But we hope to really help the entire district economy by putting a permanent residential base in there that will be long-term residential – in other words, not subject to conversion to short-term rentals, Airbnb and things like that which we feel have really been harmful to the whole neighborhood structure of the central city.”

The project has had tremendous community support, said Mr. Kanavos, with almost universal support “for what’s going on and a great deal of enthusiasm in the city because, in all honesty, we kick-started something that probably should have been done decades ago, but the city often finds itself without the financial wherewithal to do things. They have a lot of demands on their funds.

“By us coming in and putting up monies and also securing, taking the responsibility to secure other monies from the state and so forth,” he added, “we’ve made it financially possible for the city to correct problems in a district that it’s desired to revitalize for some time now.”

Plans will continue to progress in order to finish the job.

“We have committed to actually pay for all the planning costs right through construction on the 200 and 300 block,” said Mr. Kanavos.

“The next steps that we’re working on are going to be to raise money and work … with the property owners in the city to develop a financial plan and other plans to revitalize the two blocks there,” he said. “In essence, for the 200 and 300 blocks, we’re sort of acting as the go-between for our fellow property owners in the city, in order to make the 200 and 300 blocks happen the way we made the 100 block happen.”

 

Source:  Miami Today

 

No Comments

Indoor Soccer And Padel Facility Planned Near Allapattah Transit Station

padel court_shutterstock_2100468910 1170x435

An indoor soccer and padel facility in Miami’s Allapattah neighborhood has been proposed.

A pre-application was submitted to Miami-Dade County officials by Soccer Madness LLC, which is run by Pedro Manuel Dominguez in Miami, regarding the 1.34-acre property located at 1089 and 1069 NW 20th St., as well as 1068 and 1098 NW 21st St. It now contains a parking area and a 20,392-square-foot warehouse that was built in 1965.

Allahold 1089 LLC, under the management of Miami-based Deco Capital, is the owner of the land.

The proposal was submitted in accordance with the county’s Rapid Transit Zone regulations, which permit increased density and a reduction in parking, because the property is located a few streets east of the Santa Clara Metrorail Station.

The building would have two floors, 21,790 square feet, and 665 occupancy units under the project. Two 55-by-81-foot soccer fields, laser tag, a restaurant, a small office, a kids’ play area, party rooms, and video games would all be located within. There would be four padel courts and an 89-by-148-foot soccer court outside.

With only 37 parking spaces, the company would need a large number of customers who would use bikes, ride-sharing, or public transportation.

 

Source:  SFBJ

No Comments

Florida Law Speeds Demolition Of Iconic Buildings in Miami Beach

demolition of coastal buildings_shutterstock_1170028165 1170x435

A new law in Florida limits the ability of municipalities to prevent the demolition of aging coastal buildings, including architectural icons that have been granted local historical status.

The Resiliency and Safe Structures Act, recently signed into law by Gov. Ron DeSantis, strips local municipalities of their authority to ban, restrict or prevent the demolition of non-conforming and unsafe structures.

Supporters of the bill say it addresses the safety challenges of aging condo towers in the wake of the deadly 2021 Champlain Towers South collapse, which killed 98 people.

The law creates exceptions for buildings that are on the National Register of Historic Places, but it notably does not exempt municipal historic designations, which potentially could have a major impact on iconic buildings in Miami Beach.

The new law effectively strips the Miami Beach Historic Preservation Board of its power to decide whether historic structures can be demolished and, if a building is going to be knocked down, whether some elements of its design must be preserved or replicated.

The new law allows owners to demolish buildings in high-risk coastal flood zones if local officials deem the structures unsafe or if the buildings don’t conform to the base flood elevation requirements set by the Federal Emergency Management Agency (FEMA).

The law targets oceanfront buildings along a “coastal construction control line,” which delineates how close developers can build to the coast.

Preservationists are warning that numerous Miami Modernist-style resorts along Collins Avenue in the Mid Beach and North Beach neighborhoods of Miami Beach now on the wrong side of the control line-and most of these historic properties don’t conform to FEMA’s latest elevation requirements.

Lawmakers who supported the Resiliency and Safe Structures Act—which sailed through the state legislature by a 36-2 margin in the Florida Senate and 86-29 in the House—say the measure is long-overdue, not just to address safety concerns but to reign in the power of local preservation boards.

 

Source:  GlobeSt.

No Comments

Regency Development Group Proposes Five-Story Townhomes In South Beach

Villas On Jefferson Rendering_Image Credit Kobi Karp 1170x435

Regency Development Group wants to build townhomes near Lincoln Road in Miami Beach.

The Chicago-based developer has filed a proposal for a 10-unit project at 1701 Jefferson Avenue, at the corner of 17th Street, a block north of the Lincoln Road shopping promenade.

Called the Villas on Jefferson, the Kobi Karp-designed development would be split between two buildings, each housing five units spanning roughly 2,800 square feet. All residences will be five stories high and include a two-car garage on the ground floor.

The Miami Beach Historic Preservation Board will hear the proposal April 9.

Regency Development Group, led by Michael Troyanovsky, bought the half-acre site for $4.4 million last year, according to property records. The vacant parcel is now used as a parking lot for the nine-story office building at 1688 Meridian Avenue.

A representative for Regency Development Group did not immediately respond to a request for comment.

The previous owner had proposed a 40-unit residential building with a workforce housing component that the Historic Preservation board approved.

 

Source:  Commercial Observer

No Comments

Sumaida + Khurana Proposes Five-Story Office Building In South Beach

1100 Fifth Street-Miami Beach-Photo Credit-Miami Dade County Property Appraiser 1170x435

Less than a year after starting construction of the Fifth Miami Beach office project, Sumaida + Khurana is proposing a second office building in the city.

New York-based Sumaida + Khurana, led by Amit Khurana and Saif Sumaida, wants to develop the 101,400-square-foot building with a ground-floor restaurant on a 0.8-acre lot at 1100 Fifth Street, near the MacArthur Causeway exit ramp, according to the firm’s filing to the city.

The property owners, Roslyn and Norton Nesis, as well as Robert and Miriam Weiss of Weiss Properties, are partnering on the project.

The building is designed by Pritzker Architecture Prize-winner Eduardo Souto de Moura, in collaboration with Zyscovich and Gabellini Sheppard.

The Miami Beach Planning Board is expected to vote on the project at its meeting on April 25.

If approved, construction is expected to start in the middle of next year, and completion is expected in the summer of 2026, Khurana said.

 

Source:  The Real Deal

No Comments

Raccoon Coffee To Open At Wynwood Haus

Raccoon Coffee-Photo Credit Raccoon Coffee dot com 1170x435

A coffee shop will open at the recently completed Wynwood Haus mixed-use project.

Raccoon Coffee leased 1,800 square feet at 23 Northeast 17th Terrace in Miami, marking the first retail tenant at the development, according to the landlords’ news release. Wynwood Haus is in the Arts & Entertainment District, which is south of Wynwood.

Raccoon Coffee will operate a full-service food truck in front of its space until the interior buildout of its new space is finished and the restaurant moves in by year-end, the release says.

The homegrown brand, started by the Di Frisco brothers, also has Miami outposts at 609 Brickell Avenue in Brickell and 330 Northeast 30th Street in Edgewater.

Black Salmon, led by Jorge Escobar and Camilo Lopez, as well as Bridge Investment Group and LD&D, which collaborated with IGEQ, completed the 20-story Wynwood Haus building this year with 224 multifamily units and 5,500 square feet of ground-floor retail space.

Black Salmon, LD&D and IGEQ are based in Miami. Led by Jonathan Slager, Bridge Investment is based in Salt Lake City, Utah.

 

Source:  The Real Deal

 

 

No Comments

Aventura MOB Under Construction Hit With Foreclosure Suit

Rendering of Aventura MOB Under Construction 1170x435

A 142K SF medical office building under construction in Aventura is the subject of a foreclosure lawsuit while its developer looks to sell it for $90M.

An affiliate of Rok Lending filed suit against Gomez Development Group alleging that the Miami-based developer has defaulted on a $15M loan for the property at 21291 NE 28th Ave., where Gomez is building a speculative medical office building.

The suit from Aventura-based Rok alleges that Gomez Development entered into the mortgage in May but stopped making monthly payments on the debt in July. Rok is seeking a $16M judgment to recover the loan’s principal, interest and fees, and asked the court to also allow the firm to recover attorneys’ fees.

Rok is suing Aventura Eco-Offices Property Owner LLC, an affiliate of Gomez Development, and the firm’s managing partner, Marlon Gomez, who personally guaranteed the debt, the lender claims. The suit was compiled by property intelligence platform Vizzda.

Gomez is negotiating with a new lender to refinance the debt and maintain control of the property, he wrote in an email.

“While our project faced hurdles securing construction financing these last few months due to challenges many lenders are facing with their current portfolios, we’ve found a new private lender to work on refinancing our current loan and enabling us to utilize CPace as an alternative financing to fully capitalize and complete our project,” Gomez told Bisnow

Gomez paid $19M for the 1.6-acre site in October 2021, property records indicate. His firm secured a $45M loan from Los Angeles-based Parkview Financial in 2021 to begin construction on the planned seven-story medical office with a four-level parking garage adjacent to Aventura Hospital and Medical Center.

The project, designed by Miami-based Caymares Martin, was originally slated to deliver by the end of 2022 but remains under construction. The Parkview loan was fully paid off last year with a final closing balance of around $10M, Karina Parada, the firm’s marketing director, told Bisnow.

Gomez said the Rok funding helped pay down the Parkview loan and also covered costs on pre-development and site utilities, infrastructure and foundation work, which is now completed. Vertical construction has commenced and the firm is aiming to deliver the building before the end of the year, Gomez said.

The unfinished project is being listed for sale by Fortune International Realty broker Cesar Sanchez. The building will seek LEED Gold Certification and will include around 100K SF of rentable medical office space and a 5K SF ground-floor retail space, according to a marketing brochure for the property.

“We are confident in our project’s value, with our land’s value doubling that of our current loan and we are communicating openly with our current lender regardless of any claims being made,” Gomez said. 

 

Source:  Bisnow

No Comments

Miami’s New Julia Apartments Aim At Young Professionals In Emerging Allapattah

Julia Apartments 1170x435

“The building was designed from the perspective of a woman,” said Lissette Calderon, the CEO of Neology Development Group, as she walked through a corner unit at The Julia, her newest multifamily property in Miami. “Or at least, what I look for in apartments.”

The 323-unit Julia is named after Julia Tuttle, the only woman to have founded a major American city. In the late 1800s, the property owner convinced oil magnate Henry Flagler to extend his rail line to the Miami River, which laid the groundwork for the modern metropolis that would become Miami.

Calderon is somewhat of a maverick, too. A first-generation American and the daughter of a maid, she founded Neology Development Group at age 28. In 2004, the Miami native completed her first development, the 20-story Neo Lofts condo complex along the Miami River.

After years of developing condos, Calderon noticed a gap in the rental market for young professionals, much like herself. That demographic wanted — and still wants — to live in amenitized apartments at reasonable prices near their workplaces, but could not yet afford glitzy neighborhoods such as Brickell and South Beach.

So in 2017, Calderon moved on to Allapatah, an industrial district that’s home to two major hospitals and the Rubell Museum, buttressed by Wynwood and Downtown Miami.

“It’s the belly button of the city, and it was the last authentic neighborhood that had yet to be reimagined,” the developer explained. 

While the types of projects that Neology develops have been criticized for gentrifying neighborhoods, Calderon contends that she’s not pushing residents out. The Julia’s 1.6-acre site previously held a cold-storage facility, and another development parcel was home to a pawn shop.

The Julia, Neology’s third Allapattah project, is scheduled to open this month with rents starting at $2,000 a month. With sweeping views of Sunny Isles Beach, Downtown Miami and Coral Gables, the 14-story property pays homage to Tuttle in its design. The orange-colored cabanas commemorate the oranges that Tuttle sent to Flagler to entice him to build farther south. The large black and white tiles in the lobby and pool deck were a popular design feature during Tuttle’s time.

“In the same way that Neo Lofts is the embodiment of the American dream, I hope The Julia is the embodiment for every little girl with big dreams,” Calderon said.

And, much like the American dream and women’s rights, movements that have at times prospered and stagnated, the area surrounding The Julia is still a work in progress.

But with Wynwood and Downtown Miami nearby, as well as the Rubell Museum, hospitals, and brand new buildings with rents starting at $2,000 per month it will not be a work in progress for long.

 

Source:  Commercial Observer

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