ReefLine, Miami’s First Underwater Sculpture Park, On Track To Open Phase One In December 2021

Miami’s first underwater environmental public art project, to be known as ReefLine, is on track to open Phase 1 in December 2021. The project will be built in several phases with Phase 1 spanning one-mile long. The project is designed by OMA / shohei shigematsu in collaboration with a team of marine biologists, researches and coastal engineers whose goal is to protect and preserve the city’s marine life. The installation will feature environmentally-functioning artworks by major international artists and designers. ReefLine will begin in South Beach and run north, providing a critical habitat for endangered reef organisms, promoting biodiversity and enhancing coastal resilience.

The project will span 7 miles underwater and attract both art lovers and eco-friendly tourists to view the underwater sculpture park via a snorkel trail. ReefLine is being developed by BlueLab Preservation Society, led by Ximena Caminos, in partnership with the City of Miami Beach and Coral Morphologic.

Northwestern Mutual Acquires Modera Port Royale In Fort Lauderdale For $180 Million

Northwestern Mutual has acquired the Modera Port Royale apartment community in Fort Lauderdale for $180 million. Modera Port Royale is located long the Intracoastal Waterway at 3303 Port Royale Drive South as well as 2890-2900 Port Royale Blvd. The seller was Port Royale JV Phase I LLC, a joint venture between Mill Creek Residential and Invesco Real Estate and the buyer was NM-Port Royale LLC, an entity managed by Northwestern Mutual Life Insurance. The pricing breaks down to roughly $324,000 per unit.

Modera Port Royale features 555 rental apartment units spanning 1.03 million square feet spread across five buildings on an 8.2-acre site. Amenities include a waterfront pool, game room, coffee bar, fitness center, roof deck, theater and marina with 55 boat slips. The property was developed in 2017 by Mill Creek Residential who sold Phase 1 for $94 million in 2015.

Lennar Acquires Pine Isles Mobile Home Community In Homestead For $29 Million

Lennar Homes (NYSE: LEN) has acquired the former site of Pine Isles Mobile Home Community in Homestead for $29 million. The property is located at 28600 SW 132nd Ave. and spans 42.7 acres. Pines Isles Mobile Home Community serviced seniors and was disbanded in 2019 before the site was rezoned for the development of 456 single-family homes. The seller was MAC Thirteen LLC, an entity tied to Rolando Delgado of Treo Group, who will receive a portion of the proceeds from each home sold. Delgado purchased the site in 2018 for $12.99 million.

Lennar Homes has already launched sales of the project, named Pine Vista, a master-planned community of townhomes and single-family homes with resort-style amenities. Homebuyers will have 14 different floorpans to choose from and single family homes will range from 1,833 square feet to 3,221 square feet and pricing from $357,990 to $419,990. Townhomes will start in the $200,000’s. Amenities will include a clubhouse, pool and park.

Aston Martin Residences In Miami Unveils First Aston Martin DBX In The Americas For Buyers The Tower's Signature Residences

Yesterday Aston Martin Residences in Miami unveiled the first Aston Martin DBX in the Americas. Buyers of the Signature residences will receive the new DBX, Aston Martin’s first SUV model part of the Aston Martin Art of Living. Alejandro Aljanati, CMO of G&G Business Developments, and Nicolette Brent, UK Consul General for Florida unveiled the DBX at the Aston Martin Residences sales center. Owners of the Signature residences, condos line 01, will have be able to choose from a DBX Riverwalk Edition or DB11 Riverwalk Edition to complement their new home. Aston Martin Residences is a 66-floor luxury development created by G&G Business Developments with construction of the sail-shaped tower scheduled for completion in 2022.

“We’re delighted that the first customer DBX built for The Americas is here in Miami. This brand-new Aston Martin joins our DB11 and Rapide S sports cars, enabling purchasers of the Signature condos to test drive the DBX and the DB11 directly from our Sales Centre before deciding which Aston Martin is right for them,” said Germán Coto, CEO of G&G Business Developments. “The fleet at the Aston Martin Residences forms part of our exclusive butler service, which enhances the ownership experience by offering personal support for our valued clients and VIP guests.”

DBX is Aston Marin’s first model to be “Made in Wales” from their assembly plan in Wales at St. Athan. DBX celebrates Aston Martin’s unmistakable style, design and language in a brand new SUV form. DBX features sophisticated 22” sport wheels, an Obsidian Black interior, Piano Black Wood Veneer and Satin Chrome detailing to make a bold statement. DBX resembles a new era of Aston Martin to deliver exceptional performance and live up to the world-famous manufacturer’s quality and unique aesthetic.

Carlos Mattos And Family Acquire Waterway Shoppes of Weston For $20.45 Million

An entity tied to the Mattos family, led by Carlos Mattos and his children, Nicolas and Isabella Mattos, have acquired the Waterway Shoppes of Weston for $20.45 million, roughly $501 per square foot. Waterway Shoppes of Weston was developed in 1999 and was acquired by the seller, Waterway Ventures LLC, an entity tied to Fondo Atlas and Dylan Fonseca, for $15.3 million in May 2015. The property was listed with Kirk Olson and Drew Kristol of Marcus & Millichap for $20.65 million. Gordon Messinger of Cushman & Wakefield represented the buyer in the transaction. The acquisition was financed with a $9.98 million CMBS loan provided by Deutsche Bank.

Waterway Shoppes of Weston is located at 2210-2282 Weston Rd. and spans 40,848 square feet on 4.95 acres of land. Tenants include AT&T, Hooters, Lucille’s American Café, Chill-N Nitrogen Ice Cream, Cyclebar, BankUnited, Lucille’s American Café, Baires Grill and Pearl Vision Center.

Melo Group To Break Ground On Arquitectonica-Designed Island Bay In Edgewater In May 2021

Melo Group is gearing up to break ground on Island Bay in Edgewater in May 2021. Work on the baywalk is already underway in compliance with Miami21 which will connect from Edgewater’s Paraiso District through the Miami River across from Brickell. Island Bay is designed by Arquitectonica and will feature twin towers rising 60 stories, 637’. The developer submitted the project to the FAA for approval in November 2020 after first revealing the project in the summer of 2019 and executing a utilities deal with Miami-Dade County in February 2020. When complete, Island Bay will feature 792 residential units and 12,600 square feet of retail. In August 2019 PROFILEmiami first reported that the residences are expected to be condominium units with a luxurious suite of amenities including multiple pools overlooking Biscayne Bay and a multi-sports court. The project is located between NE 24th Street and NE 23rd Terrace as well as NE 5th Avenue to the west. Construction is expected to be completed in the summer of 2023.

Check Out The Newly Revealed Renderings Of Norman Foster-Designed Drivers Club Miami

New renderings have been revealed of Drivers Club Miami, a Norman Foster-designed private driving club with resort on 160-acres in Carol City, a neighborhood of Miami Gardens. The project was approved in 2018 although groundbreaking has been delayed by zoning agreements, environmental testing, design meetings and construction-preventing covenants. The project is being developed by 13 Pista LLC, led by Carlos de Narvaez Steuer and is estimated to cost $100 million.

Drivers Club Miami will feature a race circuit with 2.3 mile track in addition to a luxury resort with hotel, retail and restaurants which will be open to the public. The Miami Drivers club track, clubhouse and vehicle storage and maintenance facilities will be private for members only.

Miami-Dade County signed a $33.4 million, 30 year lease for 140 acres of land below-market rate at 20000 NW 47th Ave. for the project. The lease began on August 1, 2018 and has two 30-year extension options. The county will also provide $2 million to the developer via subsidies in order to help the project create 220 jobs on the property. In exchange for waiving the competitive bidding process, the developer will build public improvements for Miami Gardens including a new public bicycle course and capital contributions to support a new on-site fire station and Florida Memorial University. The entire project is estimated to cost roughly $100 million.

Pablo Escobar’s Former Miami Estate Sells For Nearly $11 Million

Waterfront property once inhabited by Colombian drug lord Pablo Escobar has sold for $10.95 million located in Miami Beach on North Bay Road. U.S. authorities seized Escobar’s infamous pink house in 1987 and the seller, Chicken Kitchen founder Christian de Berdouare, bought it from a private owner in 2014 for $9.65 million. The property was listed by Mirce Curkoski and Albert Justo with ONE Sotheby’s Waterfront Team and the buyer was represented by Brett Harris with Douglas Elliman. Renderings have been released to build a beautiful modern home on the lot and plans have been submitted to the city awaiting approval. 5860 North Bay Road is 30,000 sq.ft. with 150 feet of water frontage and downtown views.

The estate made waves in 2016 when a locked safe was found in the debris following the demolition of Escobar’s home. Excavators found the 700 pound safe as they knocked down the home’s walls. At the time de Berdouare said that the safe will remain locked in a bank vault until he finished filming a documentary about Escobar’s link to the property.

West Aventura Developers Proposes Mixed-Use Development In Newly Rezoned Ojus Urban Area District

West Aventura Developers, led by Marina Kessler and Gustavo Lumer, have proposed there mixed-use buildings in the newly rezoned Ojus Urban Area District, just west of Aventura. The area which sits just north of Greynolds Park, was recently rezoned by Miami-Dade county to allow mixed-use development and more density. The 7.9 acre site is located at 2375 NE 186th St.

The proposal includes three buildings designed including an 8-story building with 378 apartment units, 31,375 square feet of retail and 585 parking spaces designed by Corwil Architects; a 12-story building with 114,385 square feet of leasable office space, 16,715 square feet of retail and 552 parking spaces designed by Arquitectonica; the final building would rise 8-stories offering 247 apartment units, 19,160 square feet of retail, 386 parking spaces and a rooftop pool, also designed by Corwil Architects.

Family On Demand Senior Assistance Platform Papa Inc. Signs Lease For The Brickell Building

Papa, Inc., a leading technology-enabled platform that provides a service to assist older adults & families, has signed a lease for their new headquarters and will consolidate and relocate to The Brickell Building, located in the heart of Miami’s Financial District. Co-Founder of DWNTWN Realty Advisors, Tony Arellano P.A., has arranged a lease on behalf of the Brickell Building with Papa, Inc. who was represented by JLL’s Jeff Gordon and Matthew Goodman.

“This new headquarters for Papa underscores the ongoing evolution of office space,” Arellano said. “The lease is also a case study for the business models of office users are adjusting to the new dynamic of office requirements.”

Papa’s new headquarters in The Brickell Building will be 11,420 sq.ft. and will be occupied by only executive staff and offer rotating office needs. The company will utilize a working-from-home strategy for non key executives that proved to be successful throughout the pandemic. This strategy will reduce their office footprint that used to be over 25,000 sq.ft. 

Papa was founded in 2017 by Andrew Parker and specializes in “family on demand” assistance for seniors. The service helps older people remain living independent and securely at home. It offers in-person assistance and now has adapted to also offer virtual assistance through the pandemic. Papa’s new headquarters will be located at 66 SW Sixth Street.