Check Out The Newly Released Video Of The 3 Acre Park Coming To Alton Road As Part Of Deal With Russell Galbut

Miami Beach has struck a deal with Crescent Heights co-founder Russell Galbut to bring a 3 acre park to Alton Road in exchange to allow Galbut to up-zone the old South Shore hospital site in South Beach. Commissioners approved a tower height increase to 519’, in exchange Galbut will fund and develop the 3 acre park which will be connected to the baywalk which wraps around South Pointe via a taxpayer funded pedestrian bridge. Galbut will have 6-months after the appeal periods to demolish the vacant South Shore Hospital and must complete the park within 8 years after the construction permit for the tower is issued. Should Galbut wish to flip the property he must retain 10% ownership. A subsequent hearing will take place in December.

Voters Approve David Beckham's $1 Billion Freedom Park By Waiving Competitive Bidding On Election Day

Miami-Dade voters have approved a referendum waiving competitive bidding for the right to redevelop Melreese Country Club into a $1 billion mega-project complete with office, retail and commercial space and a soccer stadium.

The referendum allows the negotiation and execution of a 99-year lease with Miami Freedom Park, LLC. for 73 acres of the Melreese Country Club site at 1400 Northwest 37th Avenue. Miami Freedom Park, LLC. is comprised of David Beckham, Sprint CEO Marcelo Claure, and brothers Jorge and Jose Mas. As per the agreement, the group will pay an annual rent of at least $3.6 million, or fair market value as determined by two independent appraisals, plus $20 million to fund construction of a 58-acre public park, paid in annual installments of $666,667 for 30 years.

The Arquitectonica-designed proposal includes 400K SF of office space and 600K SF of restaurant, retail and entertainment space; along with 750 hotel rooms and a 25,000 seat soccer stadium with only 3,750 parking spaces. The city will be on the hook to redevelop and maintain the remaining land at the site at the expense of tax payers.

The Behar Font & Partners-Designed Okan Tower Planning To Break Ground This Year in Downtown Miami

Okan Tower, located at 555 North Miami Ave., will break ground in 2018 and is currently finalizing their partnership with a general contractor. The self-financed tower from Turkish developer Okan Group has pre-sold about 12% of of units since the project was first proposed in October 2017. Okan Tower will rise 70-stories, 890', and was designed by Behar Font & Partners. The project will feature 300 hotel rooms, 80,000 SF of office space, 10,000 SF of restaurant space, 362 condominium units, and a selection of amenities including a rooftop swimming pool. The project is expected to be completed Q4 2022.

Check Out The New Renderings of David Beckham's Proposed Freedom Park

New renderings of David Beckham and Jorge Mas' controversial proposal to build one of the biggest private office and retail parks in the U.S. on city owned land, known as Freedom Park, have been revealed. The Arquitectonica-designed proposal includes 400K SF of office space and 600K SF of  restaurant, retail and entertainment space; along with 750 hotel rooms and a 25,000 seat soccer stadium with only 3,750 parking spaces. The city would be on the hook to redevelop and maintain the remaining land at the site at the expense of tax payers. The developers would pay $20 million to the city over 30 years, amounting to a net present value of roughly $4 million. Last week commissioners decided to delay the vote on city referendum that could send the proposal to the voting ballot for taxpayers to decide its fate. 2 of the 5 commissioners are in favor but the public backlash has been vocal with charities such as The First Tee Miami staging protests and Related Group's Jorge Perez, amongst others have made their opposition public. Commissioners will vote again this week. 

Okan Group's Behar Font-Designed Okan Tower Approved In Downtown Miami

Turkish developer Okan Group's 73-story, skyline evolving Behar Font & Partners-designed Okan Tower proposal has been approved by Miami's Planning & Zoning Department in Downtown Miami including waivers from the Miami 21 zoning code. Located at 555 North Miami Avenue, the multi-use project has also been called The Sterling, although the press release and renderings point to the tower being called Okan Tower. The Behar Font & Partners design is inspired by a tulip, the national flower of Turkey, and will feature a rooftop swimming pool at the crown of the 956' rise. Okan Tower will feature 300 hotel rooms, 80,000 SF of office space, 10,000 SF of restaurant space and 362 condominium units. The location will give easy access to retail, entertainment and transit via MiamiCentral and the Brightline as well as the Miami Worldcenter mega-project. Okan Group acquired the land for $18 million in March 2017 before proposing the Behar Font design in October 2017.