The Estate Companies, Merrimac Ventures And Tricera Capital Secure $56 Million Construction Loan For Soleste Cityline Apartments

The Estate Companies, Merrimac Ventures and Tricera Capital have secured a $56 million construction loan for Soleste Cityline, a multifamily development planned in Dania Beach. The loan was provided by Synovus Bank and the development partnership plans to break ground by the end of Q1 2021. The 2.2-acre site was acquired in September 2020 for $8 million. The Estate Companies is a subsidiary of Estate Investments Group (EIG), Merrimac Ventures is led by Dev Motwani and Tricera Capital is led by Scott Sherman.

Soleste Cityline was designed by Caymares Martin. The development will be located at 4 N Federal Highway and will rise 8 stories featuring 340 apartments with 12,800 square feet of retail. Units will range from roughly 600 square foot studios to 1,200 square foot three-bedroom floor plans. Amenities will include a pool deck with grilling stations, fitness center, community room and private event space. Upon expected completion in 2023 the retail portion will be owned by Merrimac Ventures and Tricera Capital, both firms have been very active developing and acquiring retail properties in South Florida.

Brad Meltzer Named Chairman And CEO of Plaza Construction

Brad Meltzer has been named Chairman and CEO of the New York-based Plaza Construction as long time Chairman and CEO Richard Wood has officially retired. Meltzer is prompted from President and Christopher Mills has been promoted from COO to President. Plaza Construction is one of the largest construction companies and general contractors in Florida and the northeastern United States with over 500 employees spread across Florida, New York, California and Washington D.C. Plaza Construction is owned by China State Construction Engineering Corp's American entity, China Construction America, who acquired the firm in 2014 from New York-based real estate development firm Fisher Brothers. Meltzer will remain based in Miami and Mills in New York City. Both started with Plaza Construction in the New York City office in the 1990’s.

Plaza Construction has built some of the most iconic buildings in Miami such as One Thousand Museum, Biscayne Beach, W South Beach, One Ocean, Marea, Marquis and 1 Hotel & Homes. In New York Plaza Construction has built 99 Hudson Street, 125 Greenwich Street and Madison Square Park Tower, amongst others.

Terra And New Valley Break Ground On Natura Gardens Multifamily Development In Northwest Miami-Dade

Terra and New Valley have broken ground on Natura Gardens, a 27-acre multifamily development encompassing 460 garden-style rental apartments. The news comes approximately one year after the partnership finalized the purchase of a 72-acre development site in northwest Miami-Dade and as the joint venture also completes the sale of the parcel’s remaining 45 acres to Butters and Greystar for $53.5 million. Site work at Natura Gardens is currently underway, with vertical construction expected to take place in Spring 2021. Delivery is anticipated in early 2022.

“Northwest Miami-Dade is experiencing a surge of demand for new residential and commercial development, which is why we initially zeroed in on this parcel as a prime development site,” said Terra CEO David Martin. “Shortly after our JV announced plans for Natura Gardens, we were approached by several developers that shared our vision for bringing new housing options and infrastructure to this part of the County, and that opened the door to selling our originally planned second and third phases of the development site to Butters and Greystar. This is a good example of how forward-looking development that meets market demand can serve as a magnet for new investment in underserved areas.”

Situated along NW 170th Street between I-75 and Florida’s Turnpike, Natura Gardens is located a short drive from several of South Florida’s largest employers, including Boeing, Royal Caribbean International, Preferred Freezer Services, and The Home Depot.

“We were excited to have worked with Terra to complete the vision for this magnificent site and create a balanced sustainable development that will benefit the residents as well as Miami Dade County,” commented Butters Construction & Development, President, Malcolm Butters.

Designed by Pascual, Perez, Kiliddjian Architecture (PPK), Natura Gardens will range from one- to three-bedrooms, measuring between 727 and 1,476 square feet in size. Amenities will include a two-story clubhouse with a resort-style pool and spa; a media room, game room and kids playroom; a children’s tot-lot play area with recreational equipment and electronics charging stations; a state-of-the-art fitness center with yoga, aerobics and spinning studios; co-working spaces and a coffee bar; and a residents-only dog park with site furnishings. Inspired by the area’s natural surroundings, the community will feature lush landscaping, open lawns, lakes and preserves. Residents will also have access to a dedicated walking/running trail throughout the community.

LA CLARA Locks Down $110 Million In Construction Financing In West Palm Beach

Great Gulf and Terrace Mountain Investors have obtained $110 million in construction financing from Bank OZK for LA CLARA, a 25-story, 83 unit condo tower under construction in West Palm Beach. Sales have reportedly eclipsed 50% and over $100 million including an $8.9 million penthouse. LA CLARA is located on a 2.4-acre site at 1515 S Flagler Drive on the Intracoastal waterway which the development partnership acquired for $24 million in 2016. John Moriarty & Associates are the general contractor on the project.

LA CLARA offers 83 residences comprised of one-, two- and three-bedroom units ranging from 1,500 SF to more than 4,000 SF. Pricing starts at $2 million with sales and marketing being exclusively overseen by Douglas Elliman Development Marketing. The building is designed by Hariri Pontarini Architects with Stantec as the architect of record.

The structure’s façade will feature a contemporary Florida Modernist style with a muted neutral palette consisting of stucco, Roman travertine, coral stone and granite with bronze accents. The luxury condominium is designed to achieve LEED Certification by the U.S. Green Building Council. Amenities will include a state-of-the-art fitness center with yoga studio, spa, outdoor garden, dog spa, club lounge, theater, conference room, business center, wine tasting room with storage and a resort style pool.

Sales are being led by Chris Leavitt, Alison Newton and Joey Columbo of Douglas Elliman Development Marketing. The deposit schedule is 10% down at contract, an additional 10% six months later and an additional 5% the following year. The building is expected to be delivered in 2021.

For more information about La Clara, private showings or purchasing/ leasing information please fill out the form below:

Monaco Yacht Club & Residences Drops Anchor To Celebrate Topping Off On Miami Beach

Monaco Yacht Club & Residences has topped off at 12-stories on Miami Beach after breaking ground February 2020. The milestone was celebrated by developer Optimum Asset Management USA, the exclusive sales broker Fortune Development Sales, and the general contractor Moss Construction. The project is slated for delivery at the end of 2021.

Monaco Yacht Club & Residences is located at 6800 Indian Creek Drive on Miami Beach and is an exclusive enclave of thirty-nine luxurious waterfront residences and a private marina in collaboration with two of the most recognized names in design, Piero Lissoni and Arquitectonica.

“Seeing Monaco Yacht Club & Residences come to life and now in its final dimensions is an especially proud moment,” said Matthew Barry, Managing Director of Optimum Asset Management USA. “The global response to the tower has been nothing short of compelling and a testament to its international appeal.  Now more so than ever before, buyers are recognizing the importance of having the intimacy of a full-service boutique building combined with the exclusivity of being located on one of the last remaining waterfront properties in the area.” 

Residences will be delivered fully-finished, each of the modern unit interiors were meticulously curated with precise attention to detail, inclusive of the refined Italian-made fixtures and finishes, with Arrigoni wide plank wood flooring from Austria.  The design palette of warm whites and rich woods for the lobby and the premier “Resident’s Lounge,” featuring a library and breakfast bar for leisurely waterfront dining designed to evoke a timeless, classic mood reminiscent of a luxurious Côte d’Azur summer resort.

“Luxury buyers from across the globe have been specifically seeking this project out for its boutique, full-service offering, unparalleled Bayfront location, and the rare opportunity to dock one’s boat in their very own backyard,” said Edgardo Defortuna, President and CEO of Fortune International Group, the project’s exclusive broker. “Combining the spectacular style and extraordinary talents of Piero Lissoni and Bernardo Fort-Brescia with an array of first-class services and amenities, Monaco Yacht Club & Residences celebrate the very best Miami Beach has to offer.”

Monaco Yacht Club & Residences will include one to four bedroom residences, ranging in size from 918 to nearly 5,000 square feet. A limited collection of two penthouses will offer expansive living areas, including private terraces with summer kitchens, starting at 2,888 square feet. Residences are primed for indoor/outdoor living and entertaining, the meticulously designed homes will feature expansive wraparound terraces, each with finished floors and ceilings with sweeping views of Biscayne Bay, the Atlantic Ocean and the Miami skyline.

Resort-style amenities include a breathtaking rooftop terrace with panoramic views of the Miami skyline featuring a pool with poolside chaise lounge chairs, Jacuzzi and shaded lounge areas with a grill for entertaining; as well as a state-of-the-art fitness center overlooking Biscayne Bay. Monaco Yacht Club & Residences also features a 12 slip marina available exclusively to residents, as well as a yachting concierge for maintenance needs, yacht charters or sailing, and fishing excursions for the day to the Bahamas, the Florida Keys or to enjoy the Atlantic Ocean.

Residences are priced from $1.1 million with exclusive sales and marketing overseen by Fortune Development Sales.

For more information about Monaco Yacht Club & Residences, private showings or purchasing/ leasing information please fill out the form below:

The Estate Companies Gearing Up To Break Ground On Soleste NoMi Beach In North Miami Beach

The Estate Companies, a subsidiary of Estate Investments Group (EIG), is gearing up to break ground on Soleste NoMi Beach in North Miami Beach. The project, which is located at 16395 Biscayne Blvd., will feature 367 apartment units, 2,708 square feet of commercial space and 655 parking spaces. The Estate Companies acquired the site in December 2020 for $13.1 million after the project, designed by Form Group, was approved in September 2020.

The Kobi Karp-Designed Four Seasons Hotel And Private Residences Fort Lauderdale Tops Off Over 70% Sold

Four Seasons Hotel and Private Residences Fort Lauderdale has officially topped off, with the tower reaching its full height of 22 stories. Developed by prominent Miami-based development firm Fort Partners, Four Seasons Fort Lauderdale offers a combination of five-star service, luxurious design and homes with unobstructed waterfront views. The project is currently more than 70% sold and is slated to open later this year.

“Four Seasons Fort Lauderdale is a significant development for Fort Partners and Fort Lauderdale as it redefines this city as an international luxury destination,” said Ramzi Achi, Principal of Fort Partners. “Watching the building achieve its full height has been incredibly exciting and we look forward to seeing its elegant and contemporary design come to life as we approach completion later this year.”

Construction on Four Seasons Fort Lauderdale is being handled by Coastal Construction, one of the Southeast’s preeminent construction companies, and overseen by premier national construction management company Lehrer Cumming.

“It is a privilege to once again work with Fort Partners and bring to life this transformative tower, which is setting a new benchmark for luxury living in Fort Lauderdale,” said Thomas P. Murphy, Jr., Chairman and CEO of Coastal Construction.

A team of lauded global visionaries is bringing the development to life, including London-based interior designer Tara Bernerd, hospitality designer Martin Brudnizki, Miami-based architect Kobi Karp and Miami based landscape architect Fernando Wong. In a first-of-its-kind collaboration, Fernando Wong is offering complimentary landscaping services for the development’s residences, making his esteemed talents readily available at a time when private outdoor space is the most important home feature for luxury buyers.

Four Seasons Fort Lauderdale will include 148 guest rooms and 83 residences ranging from one- to four-bedrooms, with each residence offering expansive living spaces, large private terraces and unparalleled views of the Atlantic Ocean and Intracoastal Waterway. Amenities and à-la-carte services managed by Four Seasons, include a state-of-the-art fitness center, two pools with luxury cabanas, beach butler service, signature Four Seasons spa, yachting services and special courtesies at Fort Partners’ premier portfolio throughout South Florida and the Caribbean. Pets will have their very own pet concierge and on-call veterinarian.

Pricing for two-to four-bedroom private residences starts at $3,595,000 and occupancy will begin later this year. Douglas Elliman Development Marketing exclusively overseeing sales and marketing for the project.

Photos by Lifestyle Production Group

For more information about Four Seasons Private Residences Fort Lauderdale, private showings or purchasing/ leasing information please fill out the form below:

Aman Miami Wins Approval For Versailles Hotel Restoration In Miami Beach’s Faena District

The Miami Beach Historical Preservation Board approved the Aman Miami development by OKO Group’s plan for the restoration of the historic Versailles Hotel. This a big step forward for the art deco building in Miami Beach’s Faena District. Aman Miami will consists of 56 hotel rooms within the restored Versailles Hotel along with 23 boutique residences located in a new tower next door. The residences in the new tower will be designed by Kengo Kuma with the HP board vote of the proposed residential tower design coming up in February. Once the design is approved OKO Group can proceed with permits and construction.

The vote to approve OKO Group’s plan for restoration of the Versailles Hotel was supported by community members including Craig Robins of Dacra, Wendy Kallergis of the Greater Miami and Beaches Hotel Association, Tom Stern the Faena House Board President, and more. OKO Group also released a statement reacting to the vote:

“We appreciate that the Miami Beach Historic Preservation Board took time to understand how our vision for Aman Miami will benefit the Faena District and preserve the iconic Versailles Hotel while contributing to the local economy and elevating Miami Beach’s status as a global destination. The board’s favorable vote is consistent with the widespread support that Aman Miami has earned in the neighborhood and the Miami Beach community.

The development of Aman Miami will infuse the City with hundreds of millions of dollars in private investment, resulting in more than 400 new jobs for the community and millions of dollars in new property and resort tax revenues each year. Aman has a proud history of delivering high-end, low-impact properties which are respectful of their physical surroundings and the history and culture of their communities – including 13 resorts bordering UNESCO World Heritage Sites.

We will continue this tradition in Miami Beach as we restore the Versailles Hotel to greatness. We thank the members of the Historic Preservation Board for supporting what will surely become the most preeminent hotel and residential development in Miami Beach.”

Quadrum Global Breaks Ground On The NBWW-Designed Arlo Wynwood Hotel

Arlo Wynwood has become the first hotel in Wynwood to break ground. The project is expected to cost $29.6 million and construction will be overseen by Plaza Construction. When complete the hotel will feature 217 pod-style hotel rooms and rise 9-stories with 141,758 square feet of total development. Arlo Wynwood is designed by Nichols Brosch Wurst Wolfe & Associates Architects (NBWW) and is located at 2217 & 2233 Northwest Miami Court. The boutique hotel, which is being developed by Quadrum Global, will offer “pod” style micro-rooms along with featuring a fitness center, yoga deck, valet parking, restaurants, bars and an urban event venue. The interior of the building will feature a landscaped courtyard as well as an outdoor gallery for large art displays and an amphitheater. The building will feature finishes including exposed concrete and structural metal beams along with wood and glass with tropical landscaping. Quadrum Global initially purchased the 30,000 SF lot for $8.55 million in November 2018.

Construction On Brightline Rail Connecting Miami To Orlando Passes Halfway Point

Construction on Brightline’s new rail line connecting Miami to Orlando has passed the halfway point. Construction broke ground in April 2019 and is both on schedule and within budget to date. Brightline anticipates that they will be launching service from Miami to Orlando in Q4 2022. Construction on the line between West Palm Beach and Cocoa is 38% complete and construction between Cocoa and Orlando International Airport is over 57% complete.

Brightline expects to resume service between Miami and West Palm Beach in Q3 2021 along with the addition of an Aventura station. In Q1 2022 Brightline will add additional stations in PortMiami and Boca Raton with the extension to Orlando expected to commence service Q4 2022. Brightline plans to open the Station at Disney Springs in Q4 2023.