Sunset Place Redevelopment Proposal Finally Gets Approved By South Miami

Nearly two years after the South Miami voted against the redevelopment of Sunset Place, the city has now approved the proposal after a special commission meeting where the South Miami City Commission voted unanimously to approve ordinances that allow will give the go-ahead to the developers to revitalize the aging mall. A partnership between Federal Realty Investment Trust, Grass River Property and The Comras Company will redevelop the 500,000 SF shopping mall into a mixed-use development with a renovated 440,000 SF mall, 32,000 SF of office space, 2 apartment buildings with 414-units and a 182-room hotel.

The developers have agreed to several climate change resistant modifications to the proposal including rooftop solar panels, a reflective or white roofing system, green roofs and the elimination of underground parking. The developers will also fund $250,000 to the city for a new streetscape on Sunset Drive, $1.5 million for pedestrian safety measures and a public amphitheater.

Terra Launches Leasing For Their Newest Rental Community, Pines Garden at City Center In Pembroke Pines

Terra has launched leasing at its newest luxury rental development, Pines Garden at City Center, ahead of opening to residents this month. The 387-unit residential community is part of Pines City Center, a 47-acre master-planned village rising within the city of Pembroke Pines. Located just off Pines Boulevard, the two phases of Pines City Center will comprise approximately 300,000 total square feet of lifestyle-oriented retail, entertainment and restaurant space alongside residential apartments. Monthly rents at Pines Garden begin at $1,645 for a one-bedroom apartment; $1,795 for a two-bedroom apartment; and $2,256 for a three-bedroom apartment. Two- and three-bedroom townhouses range from $2,475 to $2,845 per month. Apartments at Pines Garden at City Center are ready for occupancy as of April 2019.

“Pines City Center is a good example of how underutilized land can be brought to life through carefully-planned development that contemplates the right mix of uses,” said David Martin, president of Terra. “In this case, our team created a master plan comprising of high-end rental homes and lifestyle-centered retail that services the community’s tenants as well as surrounding residents. The result is a condensed area of development that is introducing a new amenity for Pembroke Pines and maximizing value for the neighborhood.”

Pines Garden has been designed to be distinctively different from typical residential destinations with a stunning tropical ambience highlighted by lush mature landscaping and contemporary, plantation-influenced architecture. Modern-designed residences will be equipped with stainless steel appliances and quartz countertops, and protected by hurricane-grade, impact-resistant windows. High ceilings, extra-wide baseboards, custom cabinetry and designer fixtures exhibit an attention to detail usually reserved for custom-built homes.

Amenities include a two-story Pines Garden Clubhouse, the social center of the neighborhood, which features a state-of-the-art fitness center, children’s playroom and game room, resort-style pool, co-working lounge and coffee bar, outdoor cooking area and other recreational options. There’s a gazebo, a life-size chess board, a dog park, and play spaces that include an enclosed tot-lot area. Gated for privacy and security, Pines Garden will offer the beauty and serenity of a nature preserve within walking distance of the urban conveniences of Pines City Center.

Images via Terra

13th Floor Investments & Adler Group Break Ground On The Transit Oriented Link at Douglas

13th Floor Investments and Adler Group have broken ground on one of Miami’s most anticipated transit oriented development, Link at Douglas. The development team is beginning site work this month and vertical construction of the development’s first phase is expected to begin this summer (2019). The 7- acre development will redevelop Miami’s Douglas Road Metrorail station and will be comprised of rental units (including workforce housing), retail and office space, and a public plaza. The project will deliver privately-funded infrastructure upgrades at a critical connection point within the County’s transit system and is expected to generate $500 million in new revenue for Miami-Dade County. The development team has also pledged over $17 million in public infrastructure improvements including $1 million for The Underline linear park.

Link at Douglas is set to be built in phases over the next five years and will include 1,500 residential units including a workforce housing component, 25,000 SF of retail space, a 250,000 SF office building, and a public plaza that connects with The Underline, a 10-mile-long linear park running from Downtown Miami through neighborhoods to the south. The development’s first tower, designed by Corwil Architects and comprising 312 apartment units and 6,000 SF of retail in 22-stories, will break ground in July. The development of tower two, a 36-story building designed by Arquitectonica including 421 apartment units and 17,000 SF of retail, will begin in October. Approximately 100 of the 733 units will be designated as workforce housing units.

“As Miami-Dade’s population experiences rapid growth, we need to come up with forward thinking ways to reduce road congestion and that begins with connecting people with alternative forms of transit,” said Arnaud Karsenti, Managing Principal of 13th Floor Investments. “Link at Douglas will set a new standard for urban living in this part of Miami-Dade County, improving access to jobs, attainable housing opportunities, everyday amenities, retail and office space for our residents and neighbors.”

“We are thrilled to partner with Miami Dade County in further enhancing the community through this pedestrian and transit-oriented development,” said Michael M. Adler, CEO of Adler Group. “By focusing on design, public spaces and the connection to transit we feel that this project will enrich all of Miami Dade County.”

Link at Douglas marks the second transit-oriented development spearheaded by 13th Floor Investments and Adler Group. Motion at Dadeland, a 294-unit rental community adjacent to the Dadeland North Metrorail station, opened to residents in April 2019.

MSC Cruises Reveals Supersized Arquitectonica-Designed Cruise Terminal In PortMiami

MSC Cruises has revealed a new supersized Arquitectonica-designed cruise ship terminal coming to PortMiami. The terminal will be the largest in PortMiami at 350,000 SF, nearly double Royal Caribbean’s 170,000 SF Crown of Miami Terminal. The MSC Cruises terminal will be able to host 2 ships at a time and will be able to process 28,000 passengers per day. The terminal will also house its own parking with 2,000 parking spaces within the structure. Arquitectonica designed the terminal by drawing inspiration from Italian yachts, paying homage to MSC’s Italian heritage. Construction is expected to start in early 2020 with completion estimated for late 2022.

CIM Group & One Real Estate Investments Lock Down Construction Financing For Wynwood Square

CIM Group and One Real Estate Investments has locked down construction financing for Wynwood Square as the project gears up to break ground. The loan is for $71.2 million and was provided by Sumitomo Mitsui Banking Corporation. The developers have applied for construction permits after getting the green light for water and sewer connection to the property. Wynwood Square was designed by Stantec and will feature 257 apartments, 54,000 SF of office space, 25,000 SF of retail and 481 parking spaces.

Luma At Miami Worldcenter Locks Down $143 Million Construction Loan, Groundbreaking Imminent

Luma at Miami Worldcenter has locked down a $143 million construction loan as the developers gear up to break ground on the 43-story tower. The loan was provided by Moinian Capital Partners with a 60% equity piece valued at $23.7 million. The tower is being developed by ZOM Living after the developer acquired the lot from Miami Worldcenter Associates. When complete Luma will feature 434 rental apartments which range from 566 SF to 1,808 SF. The building is designed to take advantage of the waterfront views of Biscayne Bay. Luma will offer over 45,000 SF of amenities including a fitness center, spa with sauna and treatment rooms, speakeasy, dog salon, classroom, residents lounge and a resort-style pool. Luma is expected to be completed in 2021.

De Beers, the Legendary Home of Diamonds, Opens New Showroom At Bal Harbour Shops

The legendary Home of Diamonds, De Beers, has opened a new South Florida showroom at the Bal Harbour Shops. The new showroom marks De Beers’ third U.S. store location. The new store, full of airiness and light, will showcase wondrous pieces by De Beers, with 600 SF of space devoted to the legendary Home of Diamonds.

In celebration of its new Bal Harbour store opening, De Beers will be unveiling a new Enchanted Lotus malachite pendant in a world premiere ahead of its global launch in September. Sparkling with pristine diamonds, the serene flower blooms within verdant malachite, symbolic of abundance and growth, in natural synergy with the lush, green oasis that is Bal Harbour Shops. The Enchanted Lotus Malachite Pendant, featuring 18K white gold and approximately 0.3 carats of diamonds, will be exclusively available at the new Bal Harbour location for $2,750.

“There is much to celebrate with our reopening at the Bal Harbour Shops, the most inspiring mall in Florida” says Francois Delage, Chief Executive Officer, De Beers Jewellers. “Our clients in the US are some of our most loyal and Bal Harbour caters towards a very discerning international clientele that we wanted to delight in the right space.”

“Whilst our clients engage more and more across our digital platforms, we believe that our stores complement the overall experience and allow a very intimate and informative moment. After all, seeing the diamond with your own eyes inspires the emotion that we invite all our clients to feel. It is also here that you can benefit from the expertise and passion of our in-store Brand Ambassadors,” explains Delage.

Mast Capital Acquires The Quay Mixed-Use Shopping Center In Fort Lauderdale For $43 Million

Mast Capital has purchased The Quay, a 73,000 SF, mixed-use shopping center in Fort Lauderdale for $43 million. The property, which is currently 100% leased, includes major tenants such as the Boatyard restaurant, United States Postal Services, and Chipotle. Mast Capital acquired the property from Hudson Capital Group, Inc., and financed the purchase with a loan from CIT bank, N.A. Roberto Susi of Axiom Capital Advisors brokered the off-market transaction. The 6.97-acre site, which is located on the SE 17th Street commercial corridor, also includes a marina and a two-story office building. Acquisition of The Quay reflects Mast Capital’s strategy of identifying properties that display strong value-growth characteristics.

“This property generates strong in-place cash flows, which we believe has further upside,” said Camilo Miguel Jr., CEO and founder of Mast Capital. “The Quay’s unique waterfront location, proximity to major points of interest and frontage on the well-trafficked SE 17th Street corridor position it to benefit from Fort Lauderdale’s growing popularity as a city for people to live, work, and play.”

“With the property already 100 percent leased, the purchase provides Mast Capital with a strong, secure and long-term investment opportunity,” said Susi. “From its prime waterfront location to its remarkable accessibility to nearby attractions and transportation options, the property is and will remain attractive to tenants of all sizes.”

Inside The Oasis, Wynwood's First True Creative Office Campus Delivering Late 2019

Wynwood will soon be getting its first true creative office campus, The Oasis, on track to deliver in late 2019. The 70,000 SF site features 35,000 SF of existing industrial warehouse space which is being converted into a mix of 20,000 SF of creative office space with a 2,500 SF rooftop, brick and mortar retail, and a 35,000 SF heavily landscaped courtyard with an outdoor food hall and a 75’ tall “Tower Bar” made out of shipping containers. Retail suites will range from 1,000 SF to 6,000 SF. The Oasis is located at 2319 North Miami Avenue and is being developed by Carpe Real Estate Partners and designed by Urban Robot Associates.

For more information about commercial leasing in The Oasis, private showings or availability/ pricing information please fill out the form below:

13th Floor Investments & Adler Group Complete Construction Of The Transit-Oriented Motion at Dadeland Apartments

13th Floor Investments and Adler Group have announced that the firms have completed construction of Motion at Dadeland, a transit-oriented, 294-unit luxury rental community that is adjacent to the Dadeland North Metrorail Station in South Miami, FL. The project is now is welcoming its first residents with the successful receipt of the development’s TCO. Motion at Dadeland was developed in collaboration with Miami-Dade County Transportation & Public Works in an effort to curb’s the city’s congestion issues by motivating people to live and work near transit. The project was also developed in partnership with Barings LLC, one of the world’s largest diversified real estate investment managers, which owns the property on behalf of institutional investors. Civic Construction acted as general contractor and played an instrumental role in executing the project on time and under budget while both TD Bank and Santander Bank provided the construction loan on the project.

“The Downtown Dadeland submarket has become one of Miami’s most appealing areas for residential living,” said Michael M. Adler, CEO of Adler Group. “Motion at Dadeland provides residents the ability to enjoy the Dadeland area in a modern residential community while being directly connected to Brickell and Downtown Miami via the Metrorail.”

Motion at Dadeland was designed by Corwil Architects and rises 25-stories, offering 294 rental apartments and just under 8,000 SF of retail space. The building is a vibrant and modern multifamily community of studio, one-, two-, and three- bedroom apartments located in the heart of Miami at 8400 South Dixie Highway, Miami, Florida. Motion at Dadeland is a class-A multifamily development featuring condo-quality finishes with sweeping views of Biscayne Bay and Downtown Miami. Amenities include a modern lobby, double height amenity level on the sixth floor, fully-equipped fitness center with bay and skyline views, expansive pool deck, poolside cabanas, communal sun loungers, covered seating, media room, party lounge and a co-working center for its residents.

“Motion at Dadeland perfectly embodies what today’s renters are looking for: quality, connectivity and community,” said Arnaud Karsenti, Managing Principal of 13th Floor Investments. “The success of this is project is a testament to what can be achieved through the collaboration of the public and private sectors. We appreciate the confidence that Miami-Dade County Department of Transportation and Public Works has shown in our partnership and in the future of transit-oriented development in Miami-Dade County.”

“Our partnerships with the private sector, transportation stakeholders and local governments have helped us to foster the development of transit-oriented projects, such as Motion at Dadeland,” said DTPW Director Alice N. Bravo, P.E. “Getting more people to live and work around transit is the ultimate solution for congestion because it helps grow ridership and creates more livable communities.”

Mike Zammitti, Head of U.S. Real Estate Private Equity at Barings noted, “Motion at Dadeland is a prime example of executing on our investment strategy - targeting class A development opportunities, in collaboration with best-in-class partners, in live-work-play locations within strong markets that are expected to outperform. Motion at Dadeland is an outstanding development and we look forward to our continued successful relationships with our partners in this endeavor.”