PMG and Miami Parking Authority Announce New Green Initiative for Downtown Miami

Miami-based developer PMG announced a collaboration with the Miami Parking Authority (MPA) to create a new green community initiative in Downtown Miami. The two blocks of green space, located steps away from PMG’s recently launched Waldorf Astoria Residences Miami, will function as a transition from the city hardscape to a lush oasis that will exude nature, warmth and beauty, as well as encourage walkability. PMG and MPA have collaborated with international landscape architecture company Enea to curate the space design. 

“The new Green Initiative is part of PMG’s continued commitment to the city of Miami. We’re creating an inviting sanctuary in the center of this dynamic, energetic downtown,” said Ryan Shear, Managing Partner of PMG and developer of Waldorf Astoria Residences Miami. “The environment will be reflective of the welcoming experience we hope to instill throughout Waldorf Astoria Residences Miami and the surrounding neighborhood.”

Sponsored by PMG, the green space will beautify the centerline of Biscayne Boulevard, where a series of interconnected MPA parking lots currently sit along 3rd and 5th Streets. Aimed at enhancing the well-being of the Downtown community, the green installation will integrate parking with native trees and shrubs, inviting benches, decorative lighting and pavers. The design plans also include an elegant teahouse with beverages, pastries and other prepared food. 

“This project is a quality-of-life enrichment expected to foster a sense of place for the enjoyment of the community,” said Alex Argudin, Chief Executive Officer of the Miami Parking Authority. “We are pleased to collaborate with a world-class design team to create a green-space intervention that will foster social interaction and a healthier lifestyle.”

This announcement follows the commencement of sales of the highly anticipated Waldorf Astoria Residences Miami, which is the brand’s debut in the Miami market. Developed by PMG, Toronto-based private equity firm Greybrook Realty Partners and S2 Development, the hotel and residential tower will rise 1,049 feet as the tallest U.S. residential and hotel tower south of New York City. The property will consist of 360 private residences as well as 205 guestrooms and suites within the five-star hotel and an array of signature spaces and culinary establishments. Waldorf Astoria Residences Miami will be located at 300 Biscayne Boulevard. 

By Katya Demina

ROVR Development Launches Pre-Leasing At Grand Station Apartments In Downtown Miami

ROVR Development has launched pre-leasing for Grand Station Apartments, a 30-story apartment tower with 300 residences in Downtown Miami. The first tenants are expected to begin to move-in this summer. The $70 million development is a transformative public-private partnership with the Miami Parking Authority (MPA), bringing a combination of residential floorplans to MPA’s headquarters at 40 NW 3 Street and expanding the existing garage at Courthouse Center with 350 parking spaces.

ROVR Development, led by Principals Oscar Rodriguez and Ricardo Vadia, are developing the project, and Monument Real Estate Services (MRES), an A-Rod Corp Company, will be the property manager.

“Downtown Miami was in immediate need of luxury housing that brought residents close to the city’s renowned amenities and transportation options that take them anywhere in South Florida,” said Rodriguez. “Working alongside the Miami Parking Authority, we were able to creatively use their existing space and enhance their own facilities, demonstrating the positive results that ultimately benefit residents when a public-private initiative such as this one takes place.”

Residences come in studios, one- and two-bedroom layouts and will feature high-end finishes such as custom Italian cabinets, stainless steel appliances, quartz countertops, walk-in closets and a full-size washer and dryer. Net effective rents for residences start at $1,277, $1,427 and $1,963, respectively.

Amenities will include an expansive New York-inspired rooftop terrace, an outdoor kitchen with grilling area and an oversized swimming pool with sun deck and several hot tubs, offering residents views overlooking Downtown Miami. Grand Station Apartments will also feature an upscale amenities deck with a variety of Class A finishes will feature a full-size state-of-the-art fitness center, wellness treatment and spa rooms with an indoor heated soaking pool, a computer and business center, and a clubroom, as well as an indoor/outdoor spa to unwind. The community will also include a concierge service, dog spa with pet station, bike storage and 24-hour package lockers.

Grand Station Apartments was designed by Miami-based Zyscovich Architects and Anillo, Toledo, Lopez LLC, The project will bring residents within proximity of Miami’s most important transit systems. Government Center’s Metrorail, Metromover and bus hubs, as well as MiamiCentral which features the tri-county rail service Brightline and will eventually include TriRail, are within a five-minute walk of the property.

“The delivery of this project next to the region’s most important transit centers is an indicator of the possibilities that exist to improve Miami’s urban core,” added Vadia. “It’s a convenient solution serving local office workers, Miami Dade College students and employees in the Health District, along with other members of our community. We look forward to showcasing Grand Station’s functional amenities and setting a new standard for transit oriented development.”

Grand Station Partners Close On $53 Million Loan For Luxury Rental Tower Project

Grand Station Partners closed on a $53 million loan in early March for Grand Station Tower located at 40 NW 3rd Street in Downtown Miami. ROVR Development, which is led by Oscar Rodriguez and Ricardo Vadia, set-up Grand Station Partners and are building the 30-story, 300 unit building as a public-private partnership with Miami Parking Authority. Kayne Anderson affiliate Saperian Capital is the project’s lender.

The luxury rental tower, which will feature about 4,000 SF of retail space, will also expand the Courthouse Center Garage with 350 additional parking spaces. Grand Station Partners has a 99-year land lease on the site and has the option to extend the lease by an additional 50 years.

Michael Wolk Design Associates, a Miami-based design boutique specializing in residential, commercial, and hospitality interiors, along with furniture collections, designed the Grand Station’s interiors. The firm has had over 40 years of experience designing personalized, luxury interiors for their clients with a united effort to achieve client goals on-time and within budget.

The project’s interiors are inspired by a young urban vibe and were designed with a sophisticated look in mind. Michael Wolk Design Associates selectivity edited the color palette and used black, gray, and tobacco colors. Outdoor terraces were decorated with the furniture from the firm’s Biscayne Collection, which is manufactured by Pavilion. The tower’s social room has its own custom-designed triangle seating bench and award-winning “Gianni Lounge Chairs.”

Grand Station offers a gym, spa, and pool deck among its list of amenities. It is scheduled for completion early next year.

By Isabella Zimmermann

ROVR Development Gearing Up To Break Ground On Grand Station Tower In Downtown Miami This Year

ROVR Development, led by Oscar Rodriguez and Ricardo Vadia, is gearing up to break ground on Grand Station Tower at 40 NW 3rd Street in Downtown Miami after first applying for construction permits in March 2018. Grand Station will rise 31-stories, 322’, and will feature 300 apartment residences and 5,000 SF of retail. The project will also expand the Courthouse Center Garage with an additional 350 parking spaces and the tower will rise over the newly built portion. The developers have set-up Grand Station Partners and plan to launch a public-private partnership with Miami Parking Authority. The project is expected to cost $70 million to develop with Ortega Construction as the general contractor. Grand Station Partners has a 99-year land lease on the site with an option to extend an additional 50 years.