PEOPLE TO WATCH: Meet Our Panelist Ryan Shear, Managing Partner of PMG

Join us on March 5th at X Miami for People to Watch: Leaders in South Florida Real Estate, where Ryan Shear will be discussing how PMG stays innovative with creative housing solutions, how declining ownership is affecting the multifamily market and how he plans to build projects that will withstand the tests of time.

The developer currently has more than 5,000 units in the pipeline, including their largest multi-family project to date with over 900 beds. In December, PMG announced their latest concept, Society, the natural evolution of X Social Communities, as a response to the insatiable demand for attainably-priced, downtown rental communities. The new brand will debut with downtown mega-projects Society Las Olas (formerly X Las Olas) in Fort Lauderdale, Society Biscayne (formerly 400 Biscayne Boulevard) and Society Wynwood in Miami. 

Society is aimed at a broader demographic, unlike X, which is geared towards millennial. Only about 30% of Society buildings will be dedicated to co-living options, as opposed to 35% - 40% in X buildings.

Co-living has been an enticing model for residents, investors and developers alike, as urban cores continue to become saturated and the demand for housing skyrockets. Following the success of X Miami, the fastest building in Downtown Miami to lease up, PMG took lessons they learned from X Social Communities and augmented them. Society will focus more on community inclusivity and expanding their finish and furnish options, while also adding to the immersive and experiential aspects of the building.

As a managing partner of PMG, Shear is responsible for general company operations, vision and growth. For nearly 15 years, Shear has played an instrumental role in the company’s success in Miami and beyond. He currently manages a growing portfolio of over $4 billion in real estate assets across the country. Completed condo projects spearheaded by Shear include Echo Aventura, Echo Brickell and Muse Residences in Sunny Isles. In 2018, Shear announced PMG will be bringing The Waldorf Astoria Residences to Miami in 2020.

The group recently opened X Miami, a 464-unit multifamily social community pioneering the “Rent By Bedroom” model for Class A luxury apartments in the urban core, which became the fastest building to lease in Downtown Miami. PMG will continue to expand this multifamily model nationally under Shear's direction. A native of Miami’s Coconut Grove and alumnus of Emory University's Goizueta School of Business, Shear lives in Brickell with his dog Larry and enjoys pico de gallo with every meal.

Hear from Ryan on March 5th at People to Watch: Leaders in South Florida Real Estate. Get your tickets below.

Event Page: http://profilemiamire.com/profilemiami-presents-people-to-watch-leaders-in-south-florida-real-estate-x-miami

By Katya Demina

First Units Begin To Close At The Newly Completed Echo Brickell

Brickell Avenue's newest luxury high-rise from Property Markets Group and JDS Development Group has been completed and closings are now underway. The first unit to close was unit 1006, a 2 bedroom unit with 1,1110 SF of interior space and a 465 SF balcony, which closed for $560,900, roughly $510 SF. It is currently available to rent on the MLS for $3,100 along with another 5 units which appear to have closed and listed for rent priced from $2,200 to $4,500 /mo. PMG and JDS first began work on the 57-story, 637' Echo Brickell in October 2014. The tower was designed by Carlos Ott with Cohen, Freedman, Encinosa as well as is a limited edition design collaboration between Carlos Ott with interiors by the yoo Studio to create Carlos Ott + yoo. Echo Brickell features 1, 2, 3 and 4 bedroom layouts which range in size from from 610 SF to over 4,300 SF (penthouse). Residence's include smart home technology, summer kitchen, 8' terraces, marble floors and Italian cabinetry. The residences are matched with high-end amenities including an infinity edge pool with bay views & poolside service, hot tubs, fitness center, valet and 24 hour concierge and security. 

Echo Brickell Scaffolding Collapse

Scaffolding has collapsed at Echo Brickell, killing 1 and injuring 5. According to the Miami Herald, "One of the three scaffolding platforms on the North side of the buildings plummeted to the ground Wednesday evening, showering bystanders in debris and crushing one car. The two other platforms were dragged down three stories and hung haphazardly onto the building’s face until a crane lowered them to safety hours later." The man who died passed away from a "cardiac incident" stated by Miami Fire Rescue Deputy Chief Joseph Zahralban and The Miami Herald. A woman inside of a car was hospitalized after being hit by falling debris. Roads were reopen Thursday morning. Property Markets Group said that formwork had fallen from the top of the construction site onto Brickell Avenue and that they were working with the general contractor John Moriarty & Associates of Florida as well as city officials including the fire department and police to investigate what had happened. The project will be shut down pending the investigation. While this accident is quite tragic and will cause delays on the delivery of the Echo Brickell project as well as potential legal implications due to the casualties, the project should still ultimately be a great addition to the Brickell skyline. 

Echo Brickell

Brickell Ave. has a new luxury high-rise. From Property Markets Group and JDS Development Group comes Echo Brickell, a 180 unit boutique luxury residential tower. The 60 floor tower's innovative architecture is by Carlos Ott with Cohen, Freedman, Encinosa as well as is a limited edition design collaboration between Carlos Ott with interiors by the yoo Studio to create Carlos Ott + yoo.  

Echo Brickell features 1, 2, 3 and 4 bedroom layouts designed by Carloss Ott and Yoo Studio. Units range from 760 SF (1 bedroom) to over 4,300 SF (penthouse). Residence's include smart home technology, summer kitchen, 8 ft terrace, marble floors and Italian cabinetry. The residences are matched with high-end amenities including an infinity edge pool with bay views & poolside service, hot tubs, fitness center, valet and 24 hour concierge and security. Echo Brickell is in prime walking distance to Mary Brickell Village as well as the new Brickell City Centre. Completion is expected by the end of 2016 on this skyline chancing development.