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New Brickell District Mixed-Use Development To Span Full City Block

Walker & Dunlop has arranged $43 million in construction and acquisition financing for 1 Southside Park, a mixed-use development spanning a full city block in Miami’s Brickell district.

The borrower is JDS Development Group, a development firm based in New York City. Aaron Appel, Keith Kurland, Jonathan Schwartz, Michael Diaz, Michael Ianno, Sean Bastian and Ian Hawk arranged the fixed-rate, interest-only loan through Atalaya Capital.

Designed by SHoP Architects, 1 Southside Park will feature a 64-story apartment tower comprising 1,175 units, as well as 190,000 square feet of office space, a 200-room hotel, 10,000 square feet of retail space and 1,400 parking spaces. The project will be located near the Miami-Dade Metrorail Brickell Station as well as The Underline, a newly delivered linear park stretching from Brickell to Dadeland.

Landscape architect James Corner Field Operations is working with JDS to integrate 1 Southside Park with The Underline, which was formerly a Metrorail line. The new development will feature 90,000 square feet of wellness-centric amenities such as a fitness center and spa to complement The Underline. JDS plans to break ground in the near future, according to founder and CEO Michael Stern.

 

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JDS Development Unveils Plan For 2.5M-Square-Foot Project In Miami’s Brickell

JDS Development Group unveiled plans for 1 Southside Park, a major redevelopment of a city of Miami fire stations into a mixed-use project in the booming Brickell neighborhood.

A zoning application was filed with Miami-Dade County officials by 191 SW 12 Owner, an affiliate of New York-based JDS Development Group, led by Michael Stern, for 1 Southside Park. The project would total 2.48 million square feet in 64 stories.

Under its new plans, JDS Development would build 1,175 multifamily units in about 1 million square feet, a 110,000-square-foot hotel with 200 rooms and 6,000 square feet of meeting space, 200,000 square feet of offices, 100,000 square feet of health and wellness, 11,000 square feet of restaurants, and about 1,000 parking spaces. The fire station would total 32,000 square feet.

 

Source: SFBJ

 

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