Neology Life's No.17 Residences Allapattah Locks Down $31.456 Million Refinancing

Berkadia has secured a $31 million loan to refinance No.17 Residences Allapattah, a 192-unit attainable luxury apartment rental building in the Fruit Packing District of Allapattah. Senior Managing Director Charles Foschini, Managing Director Christopher Apone, and Associate Director Shannon Wilson of Berkadia South Florida secured the financing on behalf of Neology Life Development Group, a lifestyle-driven residential and commercial real estate firm, led by Lissette Calderon, that specializes in the transformation of overlooked and undervalued communities into vibrant urban neighborhoods. Fannie Mae originated the 10-year loan with five years of interest-only.

"Lissette Calderon and her company, Neology, have once again demonstrated their exceptional vision and expertise in transforming the Allapattah neighborhood with the refinancing of No.17 Residences. It's been a remarkable journey working alongside Neology Life on this project. Lissette Calderon's dedication to 'attainable luxury' and the development's success in the heart of Allapattah truly stand out, aligning perfectly with the community's needs.”

Located at 1569 NW 17th Avenue, No.17 Residences Allapattah was completed in April 2021 and leased up in record time. It offers one-, two-, and three-bedroom apartments ranging from 600 square feet to 1,125 square feet. Individual units feature smart home technology, open floor plan kitchens, stainless steel appliances, quartz countertops, washer and dryer, full-length windows, balconies, and walk-in closets. Building amenities include an expansive urban park, lobby lounge with co-working and social spaces, a TV lounge area, art-inspired pool deck, pool side cabanas, indoor/outdoor clubroom, fitness center, on-demand virtual fitness classes, a rooftop garden with a summer kitchen, an outdoor movie theater, bark park, bike storage, electric car charging stations, a zoom room, on-site parking, and 24-hour secure package rooms.

The property is situated in Miami’s centrally located Allapattah neighborhood, which is just a short walk, bike ride, drive or public transit trip from some of Miami’s largest employment centers, including the Health District, Civic/Government Center, Downtown Miami, Wynwood and the Brickell Financial district, and offers easy access to the Dolphin Expressway and I-95. As home to the flagship location of Superblue, the Rubell Museum and El Espacio, Allapattah has quickly become an important arts and culture destination.

Lissette Calderon's Neology Life Tops Off 'The Julia' Allapattah Multifamily Development

Neology, led by Lissette Calderon, has topped off construction of “The Julia” a $100 million, 14-story residential tower that will deliver 323 upscale one- and two- bedroom apartments to Miami’s Allapattah neighborhood in downtown Miami in February 2024. Inspired by Miami’s original real estate visionary, American businesswoman Julia Tuttle, The Julia will embrace a “tropics-meets-metropolis” aesthetic combining elements of Art Deco with 1950s-style glam. The project was designed by Behar Font Architects, with interior design by designBAR and landscape architecture by Witkin Hultz Design. JAXI Builders, Inc. is overseeing construction.

Located at 1625 NW 20th Street, just a few blocks west of the main entrance to Jackson Memorial Hospital, The Julia is located in the heart of Allapattah, a historic neighborhood that includes Miami’s Health District and borders Wynwood. Allapattah has quickly become one of Miami’s most sought-after neighborhoods. It features a cluster of elite cultural institutions (including the Rubell Museum and Superblue) as well as many new businesses, restaurants and nightlife establishments. It’s also situated just a few blocks from Neology’s first Allapattah apartment community, No. 17 Residences, which opened in May of 2021 and leased up in record time. Neology’s third Allapattah community, “Fourteen Allapattah Residences,” broke ground in August 2022 and will deliver 237 apartments, along with 5,000 square feet of ground-floor retail, in early 2024.

“We are thrilled to be approaching our goal of introducing The Julia to Miami – offering one-of-a-kind, curated living experiences with cutting-edge amenities, spectacular city skyline views and design features to appeal to a diverse cross-section of today’s urban renters,” said Lissette Calderon, President and CEO of Neology. “There is incredible demand for high-quality housing in downtown Miami thanks to the more than 50 companies that have relocated to or expanded in Miami in the last year.”

The pet-friendly property will offer a mix of one- and two-bedroom apartments ranging from 600 to 1,000 square feet featuring floor-to-ceiling windows, 9-footceilings, walk-in closets, and balconies in every apartment. Apartments will also have energy efficient, stainless-steel appliances, quartz countertops, European-inspired kitchen cabinetry, and in-unit washer and dryers.

Interior common areas will feature neoclassical elements such as brass accents, wood details and colorful mosaics alongside bright, botanical patterned wallcoverings and other fun, punchy colorful elements for a mood that is romantic, sophisticated and timeless.

The Julia’s ninth floor “Sky Lounge” will be a destination in itself, featuring a resort-style pool deck with shaded gardens and cabanas, an indoor/outdoor club lounge with gourmet kitchen, a wellness center with virtual fitness, and a starlight dining terrace. The property will also include co-working areas with private offices, a dog park and spa, a children’s play area, high-speed fiber optics throughout the building to meet today’s technological needs, 15,000 square feet of street-level retail space, along with curated artwork throughout the exterior and interiors.

The Julia is centrally located just a few blocks from the Civic Center Metrorail Station, the University of Miami Health System, Jackson Memorial Hospital, and Miami-Dade College Medical Center. The property is just a short car or public transit ride away from both Brickell and Downtown, home to several large employers and dining and shopping destinations, along with popular attractions such as Marlins Park, American Airlines Arena, the Adrienne Arsht Center for the Performing Arts, Perez Art Museum Miami and Frost Museum of Science, and the new Brightline commuter rail station connecting Miami to Fort Lauderdale, West Palm Beach, and eventually Orlando.

Neology’s current ownership portfolio consists of 1,200+ apartments recently built or under construction in Miami’s urban core, with another 1,600 apartment units in the predevelopment phase and a pipeline of 2,000 additional units in South Florida and beyond.

Neology Life Development Group Locks Down $57.5 Million Construction Loan For 'Fourteen Residences Allapattah'

Lissette Calderon’s Neology Life Development Group has locked down $57.5 million in construction financing for Fourteen Residences Allapattah, a two tower, 237-unit apartment community located in Miami, Florida. Senior Managing Director Charles Foschini, Managing Director Chris Apone and Senior Analyst Shannon Wilson of Berkadia Miami secured the financing on behalf of Neology Life Development Group, a lifestyle-driven residential and commercial real estate firm led by Lissette Calderon. The property is located in a Qualified Opportunity Zone in the historic Allapattah section of downtown Miami.

Churchill Real Estate’s direct originations platform, led by Jeff Rosenfeld and Sean Robertson, originated the 24-month loan with two extension options.

“Our client Neology continues to dominate the Allapattah skyline with an innovative team and projects whose ‘attainable luxury’ concept serves the needs of the community and integrates nicely within it,” said Foschini. “While the market continues to be extremely volatile, the lender recognized the strength of the sponsor, Neology’s track record in Allapattah, where this is its third project, and Lissette Calderon’s personal vision for the evolution of the Allapattah community.”

“This deal further solidifies Churchill’s commitment to support the development of workforce housing in Miami,” added Robertson, Churchill’s Director and Co-Head of Originations. “We are thrilled to execute this deal with Neology amid unstable market conditions.”

“Churchill continues to build on, and augment, its presence in the greater South Florida market,” added Rosenfeld, also Director and Co-Head of Originations at Churchill. “Despite macro headwinds, South Florida continues to benefit from favorable factors that give us the confidence to double down in this market.”

Located at 1470 NW 36th Street, Fourteen Allapattah Residences will consist of a 14-story building with 180 apartment units connected via a pool deck to a five-story building with 57 apartments including ground floor walk ups. It will offer studio, one- and two-bedroom units ranging 450 to 900 square feet. Apartments will feature European-inspired cabinetry, quartz countertops, energy efficient kitchen appliances, in-unit washer and dryer, energy efficient AC and heating systems, and smart home technology adaptors. Lifestyle amenities will include curated original artwork, a multipurpose lobby, media lounges and living rooms, a rooftop pool and clubhouse, poolside cabanas, coworking spaces, conference rooms, outdoor movie screen, an indoor and outdoor fitness and wellness center, with a yoga and cardio studio, dog park with dog wash area, bike storage, virtual concierge and smart package lockers, and a parking garage with electric car charging stations as well as a ride share lobby.

The property, which will open in early 2024, enjoys a highly visible location on NW 36th Street just 5 minutes west of Wynwood and 10 minutes east of the Miami International Airport, close to the health district, which is the country’s largest concentration of medical and research facilities after Houston. It is just a short walk from the Allapattah Miami Metrorail Station, the Rubell Museum, and SuperBlue.

Neology’s portfolio now consists of more than 1,500 apartment units completed or under construction in Miami’s urban core, including The Julia, an upscale apartment community that will open in 2023, and Neology’s flagship Allapattah project, No. 17 Residences Allapattah, which opened in 2021 and leased up in record time.

Lissette Calderon's Neology Life Locks Down $78 Million Construction Loan For Allapattah Multifamily

Lissette Calderon’s Neology Life Development Group has locked down a $78,197,393 construction loan for The Julia, a 323 unit apartment building with ground-floor retail space in Miami’s Allapattah neighborhood. The loan was secured by Berkadia and provided by Trez Capital, a private real estate lender helping to build better communities across North America. Trez Capital Managing Director Ben Jacobson originated the loan, which closed on October 12, 2021. Bilzin Sumberg and GT Law provided legal counsel.

Construction has already begun, with the project set to be delivered in mid-2023. The general contractor for The Julia is JAXI Builders, Inc.; the architect is Behar Font Architects; interior design is by designBAR; and Witkin Hultz Design is the landscape architect.

“Lissette Calderon is a pioneering developer who has been extremely successful revitalizing the Miami River district and now breathing new life into Allapattah, one of Miami’s oldest neighborhoods,” Jacobson said. “We are delighted to partner on this exciting project by providing financing for a development that is sure to capture intense interest from the public.”

The Julia is Neology Life’s second, lifestyle-driven residential community in Miami’s historic Allapattah neighborhood. Formerly No. 16 Residences, The Julia is a $100 million, 14-story residential tower that will deliver 323 upscale one- and two- bedroom apartments to one of the city’s most historic and vibrant neighborhoods. Located at 1625 NW 20th Street, The Julia is situated just a few blocks from Neology’s first Allapattah apartment development, No. 17 Residences, which opened in May of 2021 and leased up in record time.

Allapattah sits just northwest of downtown Miami and abuts the famed Wynwood district to the east, offering easy access to major highways and employment centers. Allapattah, which includes Miami’s Health District, has quickly become one of Miami’s most sought-after urban territories, boasting a cluster of new cultural institutions (including the Rubell Museum and Superblue) as well as many new small businesses, restaurants and nightlife establishments.

“The Julia will offer a curated, one-of-a-kind modern residential living experience with cutting-edge amenities that will appeal to a diverse cross-section of today’s urban renters,” said Lissette Calderon, President and CEO of Neology Life Development Group. “The building has been thoughtfully designed, inside and out, to reflect the area’s unique history and character, and we hope as a result it will become a beloved and integral piece of the community’s fabric for many years to come.”

“This is an exciting milestone for Allapattah,” added Miami City Commissioner Alex Diaz de la Portilla. “High-quality housing options are key to our community’s success and projects like The Julia provide that. Moreover, Lissette Calderon and her team at Neology are experienced in building authentic, vibrant communities, and have a deep appreciation for Allapattah’s history, culture and mom-and-pop businesses. They will be valued, long-term partners in helping us achieve measured growth that benefits and inspires all Miamians.”

Calderon added, “Over 20 years ago, I started on this journey to deliver quality lifestyle-driven attainable luxury living to Miamians who were being priced out, and to help some of Miami’s most overlooked neighborhoods realize their full potential. I’ve had the honor of watching this transformation unfold in the Miami River District, where we started, and we see the same potential in Allapattah, one of Miami’s last remaining authentic urban neighborhoods. We chose to name our second Allapattah development after Miami’s founding mother, Julia Tuttle, who is a personal hero of mine – and because we hope it stands as a beacon to every young woman with big dreams. With hard work, grit and sacrifice, they can achieve anything.”

Inspired by Miami’s original real estate visionary, American businesswoman Julia Tuttle, The Julia will embrace a “tropics-meets-metropolis” aesthetic combining elements of Art Deco with 1950s-style glam. Interior common areas will feature neoclassical elements such as brass accents, wood details and colorful mosaics alongside bright, botanical patterned wallcoverings and other fun, punchy colorful elements for a mood that is romantic, sophisticated and timeless.

The property will offer a mix of one- apartments and two-bedroom apartments ranging from 600 to 1,00 square feet. Unit interiors will feature energy efficient, stainless-steel appliances, quartz countertops, European-inspired cabinetry, in-home washer and dryers, expansive views, and balconies in all units.. Amenities at The Julia will include a ninth-floor Sky Lounge with resort-style pool deck, clubroom, and wellness center, and 15,000 square feet of street-level retail space.

“When we evaluate lending opportunities, we focus on the needs of a community and the track record of the developer,” Jacobson said. “Partnering with Lissette and understanding her vision, we think Allapattah is perfectly positioned to attract nearby working professionals and families who desire a certain level of luxury living but are priced out of places like Brickell, downtown and Wynwood.”

The Julia is centrally located just a few blocks from the Civic Center Metrorail Station, the University of Miami Health System, Jackson Memorial Hospital, and Miami-Dade College Medical Center. The property is just a short car or public transit ride away from both Brickell and Downtown, home to several large employers and dining and shopping destinations, along with popular attractions such as Marlins Park, American Airlines Arena, the Adrienne Arsht Center for the Performing Arts, Perez Art Museum Miami and Frost Museum of Science, and the new Brightline commuter rail station connecting Miami to Fort Lauderdale, West Palm Beach, and eventually Orlando.

Neology intends to break ground on a third Allapattah residential community in the coming months, bringing its portfolio up to 1,200 apartments throughout Miami.

The multifamily market continues to sizzle in South Florida, with rent increases expected to grow between 8% and 9% over the next year, according to CoStar Group. Another report from Realtor.com says South Florida is the third-fastest growing rental market in the U.S.

Neology Life Development Group Delivers The First Lifestyle Driven Multifamily Tower In Miami's Allapattah Neighborhood

Neology Life Development Group, led by Miami’s leading Hispanic female developer Lissette Calderon, has delivered No.17 Residences Allapattah. Located in Allapattah, bordering the western edge of Miami’s Health District and the Miami River, the residential development at 1569 NW 17th Ave is a 192-unit attainable luxury rental apartment building in Miami’s richly historic and newly rediscovered Fruit Packing District. 50% of the units were preleased at the time of delivery and residents have begun move-ins.

No.17 Residences Allapattah is developer Lissette Calderon’s first ground-up residential project delivered in the area. The project was designed by Behar Font Architects and construction was led by Jaxi Builders.

“Much like we did 20 years ago when we pioneered the renaissance of the Miami River, we are excited to be at the forefront of reimagining this neighborhood and bring Allapattah back to life,” said Lissette Calderon, president and CEO of Neology Life Development Group. “As Miami’s last original, authentic neighborhood yet to be revitalized, Allapattah made sense for us to write its next chapter and we’re excited to make the vision a reality beginning with the opening of No. 17 Residences.”

Apartment units at No. 17 Residences Allapattah feature energy efficient, stainless-steel appliances, designer cabinetry, quartz countertops, in-home washers and dryers, expansive City and River views and balconies in select units. As additional amenities, residents will also have access to smart package lockers including valet dry cleaning, coffee bar, complimentary wi-fi, covered parking garage, bike storage and digital access control throughout the premises. In addition, No. 17 Residences Allapattah will include seven unique ground-floor, work and live walk-up units with 12 to 18-foot ceiling heights.

Units at No. 17 Residences range from studios, one-, two-, and three-bedrooms ranging from 500 SF to 1,300 SF in size and will feature spectacular sweeping views of the Miami River and the city skyline. Rental rates start at $1,300 per month.

As a special nod to the area’s cultural appeal, Neology Life commissioned two prominent local artists to deliver street and mural art designs throughout the interior and exterior of the building including the Bollee Patino’s signature exterior marquis mural fittingly named “Rise Above.” Welcoming residents in the lobby is his 15-foot mural, “Be Yoursel Ballarina,” internationally acclaimed contemporary mix-media artist, Bollee’s first piece in Miami. The project also features signature murals by established Miami artist, Carlos Navarro, throughout the building including his piece “Strength.”

Amenities include a ground floor The Urban Park, which features an expansive green area with a children’s playground, a dog park and landscaping as well as a rooftop sky lounge with city and riverfront views. Other amenities include a movie screen on the 14th level and a swimming pool, outdoor living room with a summer kitchen, cabanas and sun deck on the fifth floor, a ground level features a fitness and wellness center including virtual classes, as well as a private zoom room and lobby living room with resident lounges for coworking and socializing.

The delivery of No. 17 Residences ushers in a new era for Allapattah, which is experiencing significant investments in real estate, arts and culture. New York-based Pace Gallery announced it chose Allapattah as the location of Superblue Miami, the immersive installation that will encompass an abandoned, 50,000SF warehouse opening this spring. The installation will be located near the Rubell Museum, home to 7,200 art pieces and the fine-dining restaurant Leku, which relocated from Wynwood after 26 years there. The neighborhood has also attracted new dining concepts such as New York staple Hometown BBQ, which chose Allapattah to make its Florida debut, and the recently opened Tayrona Restaurant + Patio from the owners of Wood Tavern in Wynwood.

Urban X Group Celebrates Grand Opening Of River Landing Shops & Residences On The Miami River

Urban X Group and the Toronto-based H&R Real Estate Investment Trust have officially celebrated the grand opening of River Landing Shops & Residences, located at 1400 NW River Drive along the Miami River. The announcement comes on the heels of the projects completion earlier this year where the first phase of retailers were allowed to open in May 2020. The ownership team delayed the official grand opening for the project until retailers were more comfortable with the economy in the post-COVID-19 world. The project originally broke ground in March 2017 and cost roughly $425 million to develop.

River Landing Shops & Residences brings in excess of 2.2 million SF of total development to the Miami River including 528 market-rate apartments; 135,000 square feet of office space; 345,000 square feet of retail; and, 2,200 parking spaces. The retail component of the project is currently 70% leased. Retail tenants include Publix, Chase Bank, Planet Fitness, TJ Maxx, AT&T, West Marine, Ross Dress For Less, Burlington Stores, Chick-Fil-A, Old Navy, Ficellas Bakery, Five Below and a Hobby Lobby. The project will also bring a 50’ wide linear park designed by Savino & Miller Design Studio, who is the landscape architect for the project.

Leasing for the office component at River Landing Shops & Residences launched in August 2020 with the first residents moving into the residential component in October. The residential component is managed by Lantower Residential, a subsidiary of H&R REIT.

The Estate Companies Secures $36M Construction Loan For Luxury Rentals in Miami's Health District

The Estate Companies, a leading developer of luxury multi-family developments throughout South Florida, has secured a $36 million construction loan from Bank OZK for Soleste Spring Gardens, an eight-story Class A, 240-unit luxury rental community at 1033 Spring Garden Rd. within the Miami’s historically designated Spring Garden district and Health District. The closing took place September 9th. 

Soleste Spring Gardens will offer studios, one- and two-bedroom units ranging in size from 400 to 1,100 square feet. Like all projects within the Soleste Living brand portfolio, Soleste Spring Gardens will be a highly amenitized development with a vast collection of health and wellness offerings, social components and pet-friendly features, including a resort-style pool with spacious sun deck and private cabanas, outdoor kitchen and bar, dog park, pet spa, yoga lawn and electric car charging stations. 

“Soleste Spring Gardens represents a major investment in the historic Spring Gardens District, an area we have been extremely bullish on for quite some time,” stated Jeffrey Ardizon, principal, The Estate Companies. “We have a strong track record of strengthening neighborhoods by offering luxury rentals at an attainable price point. I take my hat off to Bank OZK, along with all of our partners, for their continued commitment and confidence in our business plan. The entire team worked tirelessly to get this project financed in record time.” 

Ardizon added, “The Miami Health District is home to the nation’s premier medical and research programs and a growing hub for the biotech industry. We look forward to delivering a Class A community to this quaint yet burgeoning area.” 

Soleste Spring Gardens offers a bevy of conveniences for working professionals who will value its central location and access to public transportation. The site is just two blocks from the Culmer Metrorail Station, which provides a six-minute ride to the Brightline rail stop, and abuts on one of Miami’s main arteries, the Dolphin Expressway. Soleste Spring Gardens is also less than three miles from Brickell and the Downtown Miami office market, which represents the largest office market in South Florida, and is in close proximity to Downtown Miami’s Arts & Entertainment District, Midtown Miami, the Miami Design District and Wynwood.

Miami’s Health District is the second-largest medical district in the U.S. after Houston with approximately 30,000 employees and home to world-famous Jackson Memorial Hospital and the University of Miami Hospital. 

The Estate Companies is also developing Miami’s second large-scale opportunity zone development, Soleste Grand Central in Downtown Miami, and recently acquired of a five-acre site occupied by a former Ramada Hotel in Hialeah with plans for redevelopment. In addition to Soleste Spring Gardens, the firm plans to break ground on two new projects this year in Dania Beach and North Miami Beach. 

Miami-Dade County And Related Urban Development Group Break Ground on Three Round Towers

Miami-Dade County Mayor Carlos A. Gimenez,  Chairwoman Audrey M. Edmonson and Related Urban Development Group (RUDG) have celebrated the ground-breaking of Three Round Towers B&C and Brisas del Este, an affordable housing development encompassing three buildings for a combined total of 383 units in the Allapattah area of Miami-Dade County. They were joined by a special guest on this occasion, the Honorable Dr. Benjamin S. Carson, Secretary for the U.S. Department of Housing and Urban Development.

The Three Round Towers development was originally built in 1970 on approximately 6.98 acres and included three towers (Towers A, B and C), a Community Center and parking for residents. Tower A was substantially renovated in 2018 by Related Urban. The current renovations are focused on the major rehabilitation of Towers B and C along with the construction of Brisas del Este, a new 120-unit affordable housing project. RUDG, the affordable housing arm of prolific developer Related Group, will serve as Miami-Dade County’s developer partner. 

The rehabilitation of the two existing towers and the new construction of Brisas Del Este will result in stylish, well-appointed residences tailor made to serve a primarily senior population through elevated accessibility options. The projects will serve residents from 30% area median income (AMI) up to 80% AMI and will be completed in the beginning of 2022.

“By fully leveraging multiple financing sources, our County is paving the way more for smart projects that create vital affordable housing for our residents,” said Miami-Dade County Mayor Carlos A. Gimenez. “Miami-Dade’s public-private partnership with Related Urban Development Group has been a key component leading to the success of this particular project, and I look forward to the County’s continuing wise use of P3’s moving forward.”

The total development cost for the three buildings is more than $106 million. The layering of financing makes this development the largest of its kind in the nation  utilizing Opportunity Zone Funds ($24 million) in combination with other federal and HUD resources, such as Low-Income Housing Tax Credits (LIHTC), Rental Assistance Demonstration funding (RAD), Home Investment Partnerships (HOME) from the City of Miami, and a Purchase Money Mortgage (PMM) of $18 million from Miami-Dade County to the developer. County and State surtax funds are also being invested in the project. More importantly, the Opportunity Zone investment of $24 million was made by personally by Related Group CEO Jorge M. Peréz.

“The redevelopment of Three Round Towers and the addition of Brisas Del Este leverages the widest range of financing available in affordable housing development,” said Albert Milo, Jr President of RUDG. “It is truly a first-of-its-kind project made possible by our partners at the County, who we have worked with over a dozen times to create transformative affordable housing solutions across Miami-Dade. Through collaborations like this, we are able to continue making a real difference for the residents of the communities we build in.”

“With this project we are proving that Opportunity Zone funding is scalable for major affordable housing developments,” said Michael Liu, Director for Miami-Dade Public Housing and Community Development (PHCD). Liu continued, “With a visionary like Jorge Perez and extraordinary builder in Albert Milo, our plan to transform all of our public housing with private sector partners will succeed.” 

Taurus Investment Holdings To Redevelop Civica Center Into Medical Space

The Boston-based Taurus Investment Holdings has acquired the Civica Center for $30.5 million in Miami’s hot Allapattah neighborhood. The Civica Center is located at 1050 NW 14th Street at the entrance to Miami’s Health District, which is home to a large concentration of medical firms and institutions including the University of Miami Leonard Miller School of Medicine. The Civica Center broke ground in 2014 and was developed by the Swerdlow Group. The two-story retail property was sold with an adjacent parking lot and the deal also included a small office building. The Dallas-based Rockpoint Group was the seller.

Tenants at Civica Center include 7-Eleven, Au Bon Pain, Burger King, Chicken Kitchen, Dunkin’ Donuts, Flavors, Food Court, Gateway Dental, Jimmy John’s, La Estancia, Optical Boutique, Panera Bread, Pasha’s, Quest Diagnostics, Salsa Fiesta, and Smoothie King, amongst others.

Taurus has been agressively acquiring life-sciences and medical buildings and plans to convert the 0.77-acre parking lot into a giant 460,000-square-foot medical office building. It also plans to expand the existing 47,000-square-foot retail building into a 62,500-square-foot retail and medical office property. Taurus expects to start work on the redevelopment in the next 24 months.

Robert Wennett Proposes Bjarke Ingels-Designed Special Area Plan For Miami Produce Center In Allapattah

Robert Wennett has submitted a Special Area Plan to build a mixed-use complex, Miami Produce Center, in Allapattah designed by none other then the starchitect Bjarke Ingels and his firm BIG Architects. The project is proposed on 8.54 acres located at Northwest 21st and 22nd Streets, and between Northwest 13th and 12th Avenues. The proposal will feature 8 buildings will offer over 860,000 SF of residential; 231,000 SF of office space; 114,000 SF of hotel; 76,000 SF of school, 75,000 SF of retail and 1,149 parking spaces. Wennett, who developed the iconic Herzog & de Meuron-designed 1111 Lincoln Road parking garage, purchased the property in 2016 for $16 million and closed on $20.6 million of financing for the properties via SunTrust Bank in August 2018.