American Dream Miami Approved To Bring America's Largest Mall To Miami-Dade

American Dream Miami has been approved for Miami-Dade and will become America's largest shopping mall. The project is expected to cost over $4 billion and will include 1.5 million SF of entertainment and amusement, over 2,000 hotel rooms, an entertainment complex, as well as another 3.5 million SF of retail. The amusement and entertainment section will include a ski slope, indoor water park, indoor roller coaster and a submarine ride. American Dream Miami will be located on a 175-acre triangle of wetlands and pastures at the unincorporated junction of I-75 and Florida's Turnpike near Hialeah. The project expects over 30 million visitors per year and the developers aim to generate interest by attracting people to the entertainment component to help drive the retail component.

American Dream Miami is being developed by Triple Five Group, the developers behind Mall of America in Minnesota and American Dream Meadowlands in New Jersey. The American Dream Miami proposal gained scrutiny from commercial developers such as Simon Property Group, General Growth Properties and Tubman Centers, who have created an opposition called the South Florida Taxpayers Alliance and aim to stop public funds from being contributed to the development of American Dream Miami.

In May 2017 American Dream Miami received its zoning approvals from Miami-Dade County commissioners but must complete environmental permitting before the developers can break ground. American Dream Miami's expected completion and opening is 2022. 

Newgard Development Group Completes The Sold-Out Gale Residences Fort Lauderdale Beach

Newgard Development Group has completed the Gale Residences Fort Lauderdale Beach, the 129-unit hotel-condo project which is located at 401 Bayshore Drive and part of the Gale Boutique Hotel & Residences project. Closings are expected to begin soon with a roughly $100 million sell-out. The residential part of the project, Gale Residences, first received its TCO in May 2017 and the hotel component of the project is expected to open by the end of 2018. In total, Gale Hotel & Residences will feature 129 residential suites and 96 hotel rooms. Harvey Hernandez' Newgard Development Group partnered with Dev Motwani's Merrimac Ventures on the project and construction was financed via a $35.6 million construction loan provided by HSF.

The Residences portion of the project rises 12-stories and features 122-suites ranging from one to three bedroom layouts, 800 SF - 2,100 SF, as well as 7 two-story beach homes. Amenities include a residents-only pool, gym, club room, movie theater, valet and and electric car-charging stations. Pricing ranged from $450,000 to $1.4 million and sales first launched in early 2015.

Construction is currently underway at the adjacent Escape Hotel, which helped launch Fort Lauderdale into prominence as a vacation destination upon opening in 1951, as it is being restored as the hotel portion of the Gale Boutique Hotel & Residences. Newgard Development Group closed on a $19.15 million construction loan to renovate the aging structure in early 2018. The financing, a first lien construction loan, was provided by the Dallas-based HALL Structure Finances (HSF). Menin Hospitality will manage the hotel upon opening. 

Demolition Now Underway On Site Of Future Allan Shulman-Designed Hotel Tower in Downtown Miami

Demolition is now underway at 511 NE 15th Street where Mandala Holdings is planning to build a 40-story hotel tower designed by Allan Shulman. In May the developers received a demolition permit for the 4,457 SF of existing buildings on the 11,700 SF site, although a construction permit to proceed with the new tower has not yet been applied for. The new tower will rise 580' and feature 270 hotel rooms, a rooftop bar, office space and retail.  The tower's design will feature a unique curtain wall system of colored glass. The property, which is adjacent to the future site of Resorts World Miami, is located the main artery leading onto the Venetian Causeway and at the base of the Adrienne Arsht Center Metromover. Mandala Holdings purchased the lot for $8 million in 2016. PROFILEmiami previously reported that The Courtyard by Marriott would be the operating entity and that the project was expected to be completed by 2020.

Related Group & sbe Announces Construction At 85% Sold Hyde Beach House Passes Halfway

The highly anticipated Hollywood Beach project Hyde Beach House, which is being developed in partnership by The Related Group and sbe, is now over 50% complete and 85% sold. The project is on track for a 2019 completion, and construction is currently on the 24th floor with John Moriarty & Assocaites. Hyde Beach House features 265 resort-condo units and 77 condominium residences, rising 43 floors. The tower was designed by Cohen, Freedman, Encinosa and Associates and features interiors by Brazilian designer Debora Aguiar. 

Hyde Beach House fuses the creative vision of sbe’s entertainment and hospitality offerings including Etaru, a Hyde signature restaurant overlooking the infinity-edge pool and accessible via the Intracoastal offering seasonal cuisine and signature craft cocktails, professionally managed by Gemstone. Other amenities include an elegant double-volume entrance lobby appointed with contemporary furniture and finishes, expansive pool deck with views of the Atlantic Ocean and the Intracoastal Waterway featuring semiprivate cabanas, an infinity-edge pool, an outdoor kitchen and dining area, and an outdoor movie theater with lounge area and fire pit, a sports Club featuring amazing Intracoastal views from an outdoor multi-use sports court (tennis, basketball and indoor racquetball court), state-of-the-art fitness center, health club, an aqua Club situated directly on the Intracoastal Waterway renting Jet Skis, paddle boards, kayaks, windsurfing, and kite surfing, and a private rooftop lounge area exclusive to unit owners with a hot tub, a modern outdoor shower, a lounge area with sunbeds, a dining area, a fire pit, and panoramic water views. 

Hyde Beach House features a curated collection of original works of contemporary art throughout amenity spaces featuring pieces from contemporary artists like Aureliano Parra, Gonzalo Fuenmayor, Felipe Echeverri, and Aldo Chaparro.

Adler Group Reveals Updated Plans For City of Miami's Riverside Center Designed By NBWW

Adler Group has revealed updated plans for the City of Miami's Riverside Center designed by Nichols Brosch Wurst Wolfe & Associates (NBWW). The project is located at 444 SW 2nd Ave. in Downtown Miami. The proposal features 4 towers, three of which would be mixed-use with residential, hotel and retail components while the fourth would feature office space. Adler currently owns a portion of the lot and a vote in November would allow the developer to relocate city staff and gain control of the riverfront city-owned building. The Urban Infill and Greenways Subcommittee of the Miami River Commission has backed the proposal. 

Related Group Pays Off $166 Million Construction Loan For SLS LUX Which Is Set To Open

Related Group has announced that they have paid off construction financing for the soon-to-open SLS LUX Brickell Hotel & Residences. The $166.1 million loan was issued by TPG Real Estate Finance Trust, the commercial real estate debt platform of TPG Real Estate, in September 2015, and is the fourth construction loan successfully paid off by the developer over the past 18 months. The grand opening is slated for June 14. The 450-unit mixed-use SLS LUX, which was co-developed with The Allen Morris Company, broke ground in December 2014, is now 100% sold-out, with over 400 units already closed and/or occupied. 

“Paying off the loan is a major milestone for us,” said Ben Gerber, Vice President of Finance for The Related Group. “It speaks to the quality of the product and to the strength of the Miami market.” 

“We are thrilled about the completion of our second project with sbe in Brickell,” added Carlos Rosso, President of The Related Group’s Condominium Development Division. “The opening of SLS LUX fulfills our long-time vision of a pedestrian-friendly South Miami Avenue, and buyers are excited to move in and begin living the lifestyle.” 

SLS LUX is the latest evolution from the award-winning SLS Hotels and Residences brand. The luxury tower is located just steps from Brickell City Centre in the heart of Miami’s Brickell neighborhood on South Miami Avenue and SE 8th Street. The project offers a mix of 450 residences and 78 hotel suites that blend exquisite décor by Yabu Pushelberg, world-class art, award-winning culinary offerings and exclusive lifestyle amenities and services. SLS LUX also features an array of food and beverage outlets from sbe's portfolio including SBar Lounge and a ground-floor restaurant and Katsuya, helmed by master chef Katsuya Uechi. 

The Optimum Tops Off In Coconut Grove, The Neighborhood's First New Class A Office Building In 25 Years

Optimum Development USA, a global real estate investor and developer, has officially announced that “The Optimum,” their new five-story luxury Class A office building in Coconut Grove, has officially topped off. Optimum Development and the tower’s general contractor, Grycon Construction, commemorated the occasion with a luncheon on Friday, June 1st for over 150 construction workers, engineers and other contractors involved, in celebration of the project’s momentum and Optimum’s commitment to enhance Coconut Grove’s revitalization. The milestone event featured remarks from from Mayor Francis Suarez, Optimum Development CEO Ricardo Tabet and Grycon Construction executive Eric Helitzer. 

“We’re extremely proud to celebrate this construction milestone and cannot be more pleased to be a part of the exciting citywide transformation underway in Coconut Grove,” said Ricardo Tabet, CEO of Optimum Development USA. “We look forward to delivering the area’s first new Class A office building in more than 25 years and welcoming our new tenants. The ideal location on Main Highway has proven to be a strong attraction to small and mid-size businesses, who appreciate the ease of access to all of Coconut Grove and close proximity to Coral Gables, Brickell, Key Biscayne and downtown. The Grove’s charm and pedestrian friendly streets and shops are luring a vibrant mix of professionals.”

The Optimum is a 5-story, class A office tower in the heart of the Grove. The Optimum is designed by Arquitectonica, who took cues from Coconut Grove lush folliage including raking the buildings’ facades in natural cement and wood to blend seamlessly into Coconut Grove. The 50,500 SF midrise luxury office development will entail 44,000 SF of office space and 6,500 SF of ground floor restaurant space which is expected to feature a high-end restaurant along with a rooftop lounge that offers dramatic, panoramic views of Biscayne Bay. Optimum Development USA paid $8.5 million for the assemblage in 2014 and has since taken a $21.5 million loan on the property. The Optimum is located at 3480 Main Highway in Coconut Grove and is expected to be completed later this year (2018).

Check-out PROFILEmiami's coverage of The Optimum's August 2017 groundbreaking

150-Key Rudy Ricciotti-Designed Symphony Park Hotel Proposed To Be Built In South Beach

A 150-key Symphony Park Hotel, designed by famed French architect Rudy Ricciotti, has been proposed in South Beach across the street from the New World Symphony and Soundscape Park. The developers have filed plans with the city to demolish the existing South Beach Citibank which is currently on the property located at 1685 Washington Ave. in South Beach. The project is proposed complete with ground floor retail and restaurant space, 122 mechanical parking spaces, as well as an expansive rooftop complete with a pool, bar and restaurant. The developers, Sobe Center, LLC. will need a variance to allow them to adjust setbacks and build the proposed 8-stories, 83'; 7-stories, 80' is permitted under current zoning code. Miami Beach's Planning Board will review the proposal on June 26, 2018. Sobe Center, LLC. is associated with Richard and Ronald Finvarb as well as Jacques Chahine.

Miami Worldcenter Unveils Construction Timeline for the Mixed-Use Development

Miami Worldcenter is currently the second largest urban development underway in the United States and occupies 27 acres in the heart of downtown Miami. The ten-block project is expected to account for $2 billion in new investment in downtown Miami and will include world-class retail, hospitality, commercial and residential uses. 

The project, whose “master plan has been in the making for more than a decade” is running on all cylinders with more than 800 workers active on site each day as the project prepares to open its first residential phase as early as this year. To date, 4,000 workers have been hired, and approximately 75 percent of those live in Miami-Dade County. A Class AA office tower of this size and scale hasn’t been built in Miami in a decade and its construction coincides with the launch of Brightline’s rail service into Downtown Miami, which will bring Miami commuters to Fort Lauderdale and West Palm Beach starting Saturday, May 19th.

The developers, Miami Worldcenter Associates, provided PROFILE with this construction timeline:

• CAOBA apartments will welcome renters to its 444 units who are seeking a well-connected location adjacent to multiple transportation hubs in the fourth quarter of this year. 
• PARAMOUNT Miami Worldcenter, a 569-unit luxury condominium tower is slated for completion during the first quarter of 2019. 
• The open-air retail, dining and entertainment component, developed in collaboration with The Forbes Company and Taubman, is underway with more than 140,000 square feet of space in construction and another 160,000 square feet forthcoming in phase one. Delivery is expected to begin in the fourth quarter of 2019.
• MDM Group expects to begin construction of its 1,700 room Marriot Marquis, complete with 500,000 square feet of meeting, exposition and event space, in the fourth quarter of 2018.
• LUMA, a 434-unit luxury apartment tower to be developed by ZOM, will break ground later this year with completion anticipated in 2020.
• A new Class AA office-led mixed-use tower developed by Hines will begin rising out of the ground next year in advance of opening to tenants in 2021.

“Today’s consumers are looking for convenience and connectivity, and Miami Worldcenter delivers on both,” said Nathan Forbes, Managing Partner of The Forbes Company. “We see strong demand for a pedestrian-friendly shopping, dining and entertainment district that will be home to premier brands and inviting public spaces flowing seamlessly with surrounding streets and nearby transit options. Once complete, Miami Worldcenter will become the perfect confluence of arts, culture, entertainment and transportation.” 

Article by Katya Demina

American Dream Miami Undergoing Final Approvals To Bring America's Largest Mall to Miami-Dade

After scoring their first approvals in January, American Dream Miami is currently undergoing its final approvals. If approved and built, the mall would become the largest mall in America, with a cost of over $4 billion. The project will include 1.5 million SF of entertainment and amusement, over 2,000 hotel rooms, an entertainment complex, as well as another 1.5 million SF of retail. The amusement and entertainment section will include a ski slope, indoor water park, indoor roller coaster and a submarine ride. The projected completion and opening would be 2022. The proposal is still under scrutiny from commercial developers such as Simon Property Group, General Growth Properties and Tubman Centers, who have created an opposition called the South Florida Taxpayers Alliance and aim to stop public funds from being contributed to the development of American Dream Miami.