Crescent Heights Strikes Deal With The City Of Miami Beach To Build A 42-Story Tower On Alton Road

According to new reports Crescent Heights has finally struck a deal with the city of Miami Beach to redevelop the former South Shore Hospital site, the three-block lot between Alton and West Avenue from 5th to 7th streets, into a 42-story tower. The tower, which will be located on 5th Street, is designed by Arquitectonica and will feature a 13,900 SF floor-plate. Crescent Heights has agreed with the city to limit the residential unit count to 400 as well as reduce the commercial intensity by 50%. The proposal includes a single story commercial plaza on the Alton Road side of the 6th street parcel which would feature retail, cafes, etc., as well as parking. The commercial structure would buffer the park which in exchange to build a high-rise, Crescent Heights will donate a 2.5-acre street-grade park to the city. Original proposals included parking to be located under the park. The developer will also give an easement on 5th Street for the city to build a pedestrian walkway over 5th Street as well as build an extra turning lane.

The currently approved project on the site rises 5-7 stories and features 510 apartments. Mayor Dan Gelber worries about congestion due to an influx of new residences in addition to a "wall effect" that is created by the low-rise buildings. With a high-rise condos, a selection of owner-occupants will not live in Miami full-time while apartment rentals would be operating at near 100% occupancy.   

The terms are still under negotiation and the plans have not yet been approved by the city. Mayor Gelber plans to ask the City Commission to pursue a development agreement and draw up a term sheet for Crescent Heights's proposal. Should the proposal be approved the timeframe of the project is expected to be 2 years. 

Check Out These Newly Released Renderings of YotelPad Which Is Set To Break Ground In Downtown Miami Q4 2018

YOTELPAD has released new renderings as the project gears up to break ground by Q4 2018. The project is expected to cost $150 million and has set a timeframe for delivery in 2020. YOTELPAD in Downtown Miami will be the first East Coast location of YOTEL's new YOTELPAD concept. Located at 227 NE 2nd Street in Downtown Miami, YOTELPAD will be a 29 story tower designed by Stantec which was approved in July 2017 by Miami's Planning & Zoning Department. The project offers 208 residential units and 250 micro-sized hotel units, split with the residential units on top of the hotel units. Residential units come in 425 SF studios, one-bedroom and 708 SF two-bedroom floor plans; pricing starts at $250,000 and units will come fully furnished and move-in ready. Residential units will have the ability to be rented for short term via the hotel's rental pool. YOTELPAD is being developed as a joint venture between AQARAT, a Kuwaiti real estate company, and Aria Development Group.

Melo Group Opens Square Station Apartments in Downtown Miami, Encourages Car-Free Living

Times are changing in Miami. Just 2 years ago, living in Miami required a car and was a pure drivers' city. Now though, the Downtown corridor is filling in fast like Manhattan. Formerly dirt plots now feature residential and retail and matched with the advancement of ride-sharing platforms such as Uber and Lyft, Miami is now a city you can live without a car. As developers work with the city to cut back on parking to build more units, there is now a push to appeal to the non-car owning (or leasing) renter (or buyer).

Leading the initiative are rental community masterminds Melo Group. Melo Group just completed the public transit-oriented Square Station, located at 1424 Northeast Miami Place in the heart of Downtown Miami’s Arts & Entertainment District. Renters who choose to give up their complimentary parking spot will receive a $100 discount off their monthly rent for the entirety of their lease for a credit of $1,200 per year. Square Station features an outdoor plaza connecting it to the adjacent Miami-Dade Metromover School Board Station.

“With Miami becoming more urban, we wanted to reward our residents who use alternative forms of transportation and encourage people to ditch their cars,” said Carlos Melo, principal of the Melo Group. “Square Station’s ground-floor retail will also help to create walkable sense of community, while the project’s transit-friendly location – with convenient access to the Metromover, Metrorail and Miami Trolley – will promote the everyday use of public transit and reduce traffic congestion during the workweek.”

Square Station features two 34-story towers with 710 market-rate rental apartments catering to an influx of young middle-class urbanites seeking walkable, urban lifestyles where they can live, work and play. The transit-oriented development also includes 15,000 SF of street-level retail and restaurants. Apartments range from one- to three-bedrooms measuring between 900 SF and 1,500 SF, with monthly rental rates starting at approximately $1,650 for one-bedroom units; $1,950 for two-bedroom units; and $2,500 for three-bedroom units. Units feature granite countertops, Samsung® stainless steel appliances, laminated wood floors, porcelain tile, and full-size washers and dryers. Large balconies showcase panoramic views of Biscayne Bay and the Miami skyline. Building amenities include a resort-style swimming pool and pool deck, Jacuzzi, fully equipped fitness center, valet service, covered garage parking, security-controlled remote access and a social room.

According to a recent demographic analysis of Greater Downtown Miami by the Miami Downtown Development Authority (DDA), Downtown Miami’s residential population has increased by nearly 40% since 2010 to more than 92,000 residents. Young working professionals comprise the majority of the residential population, with about 41,000 residents falling between the ages of 25 and 44, up 86% since 2010.

Square Station’s completion marks the first phase of Melo Group’s larger three-phase development plan to bring nearly 2,000 transit-oriented rental units to the Arts & Entertainment District area of Downtown Miami. Next door, the firm recently broke ground on Art Plaza, two 34-story towers with 667 apartments at 58 Northeast 14th Street. Plans for Miami Plaza, an adjacent third phase at 1502 Northeast Miami Place, are to include a 36-story tower with 437 rental units and approximately 7,000 SF of retail space. The developing neighborhood also includes previously completed Melo Group’s projects including Melody Tower, a 36-story mixed-use residential building which opened in 2016 at 245 Northeast 14th Street. Melody Tower offers 497 rental apartments with 8,500 SF of ground-floor retail and restaurant space with a landscaped plaza with public art.

ROVR Development Closes $27 Million Construction Loan For The Fairchild Coconut Grove

ROVR Development is pleased to announce it has closed on a $27 million loan for The Fairchild Coconut Grove, the new luxury waterfront condo development rising directly on Biscayne Bay in Coconut Grove. Ocean Bank provided the financing for the project which broke ground in April 2018 with an event with distinguished guests that included Mayor Francis Suarez and Commissioner Ken Russell. Construction at the project is on schedule for completion in Fall 2019. 

“The closing of this construction loan from Ocean Bank is a significant milestone for us and an important step towards bringing our project to fruition,” said Oscar Rodriguez, Principal of ROVR Development. “Since breaking ground in April, construction at The Fairchild Coconut Grove has been advancing on schedule.”

“Ocean Bank has a strong history of supporting South Florida development,” said Ralph Gonzalez-Jacobo, Executive Vice President and Head of Lending, Retail Banking and Branch Administration at Ocean Bank. “We have an excellent relationship with the developers and are pleased to provide financing for this exceptional project.”

The Fairchild Coconut Grove was designed by local architect Max Strang in collaboration with interior designer Rafael de Cárdenas. The project features 26 exclusive two to four bedroom residences ranging in size from 1,714 to 4,114 square feet with pricing starting around $1.4 million and ranging up to $4.5 million. Residences are expansive and feature natural stone floors; lanais with views of Biscayne Bay and verdant neighborhood landscapes; gourmet chef-inspired kitchens; spa-inspired bathrooms; spacious living areas and private outdoor showers in select units. All homes will be pre-wired with Smart technology and Crestron packages.

Amenities are designed by Rafael de Cardenas and include a holistic wellness spa with Hammam, steam room and sauna; high-tech training gym; rooftop pool with private cabanas; and exceptional lobby with full-time concierge, 24-hour security and valet. Lush landscaping complete with serenity gardens, bay walk and jungle rainforest path offer consummate outdoor experiences that include a bayside lounge; sunset deck; outdoor cinema; full-time porter; private on-site dog park; private boat slips; resident bicycles; a floating dock with resident paddleboards; and kayak storage.

One Sotheby’s International Realty is handling the exclusive sales and marketing for the property.

Check out photos of The Fairchild Coconut Grove Sales Gallery. 

Check out our PROFILE Exclusive Interview with developer Oscar Rodriguez of ROVR Development.

Perkins + Will Reveals New Contemporary Baptist Health Facility At 709 Alton Road

The Miami office of global architecture and design firm, Perkins+Will, has announced the opening of the recently completed Baptist Health facility at 709 Alton Road. The four-story outpatient care center was developed by Crescent Heights and features 120,000 SF of total development. The contemporary structure designed to focus on community well-being, bringing a new level of service to Miami Beach while capitalizing on the neighborhoods walkability. The Baptist Health outpatient facility encourages health and well-being by connecting everyday urban amenities such as like retail, food, and beverage, with active public spaces, walking paths, roof gardens, and state-of-the-art wellness care for the mind and body.

“Our aligned mission with Baptist Health was to create and sustain an effective hospital-community partnership in Miami Beach,” said Pat Bosch, Design Director of the Miami office of Perkins+Will. “Improving patient experience and encouraging social engagement through strategic design was paramount.”

The design of the building blends indoor-outdoor spaces and an abundance of natural light, to meet the unique healing needs of all patients. While traditional medical office buildings internalize circulation, Perkins+Will designed an interior public promenade along Alton Road, effectively extending the sidewalk activity through the glass storefront and inviting the community inside. In terms of functional design, primary care and urgent care services are located on the same level as physician’s offices and community resource rooms to streamline patient visits. All parking and services for the building are located on the upper interior floors to maximize access to and from the active building components, street and sidewalk. The top floor of the building is transparent with circulation and activity focused along the commercial corridor and the roof terrace which will be used for physical therapy and exercise classes.

709 Alton Road houses primary care, urgent care, diagnostic imaging, endoscopy and other services. Imaging components includes X-ray, ultrasound, mammography, bone densitometry, CT and MRI. The facility is now open daily from 11 a.m. to 11 p.m. The project marks the Miami studio’s second project on the Alton Road corridor with Crescent Heights, the other being the mixed-use 1212 Lincoln Road, and their fifth completed on Miami Beach. 

Related Group's One Paraiso Receives TCO In Edgewater, Closings Set To Begin August 6

Related Group has received their TCO on One Paraiso as their new Paraiso District in Miami's Edgewater neighborhood continues to move fast toward full completion. The milestone comes nearly one year after topping off in June 2017. One Paraiso, the premier tower in the Paraiso District, offers 276 luxury condominium units and rises 53 floors. Plaza Construction is the General Contractor on the Paraiso District project. 

The tower was designed by Arquitectonica with interior design by world renowned, Italian based designer Piero Lissoni. One Paraiso is the most private of the 4 towers and has only six residences per floor. The tower also features 2 full floors of amenities on the 9th and 8th floors including a restaurant by award winning chef Michael Schwartz, 2 outdoor pools, Beach Club, cigar room, business center, library, wine tasting salon, theater, spa, state-of-the-art fitness center, plus a marina with private slips.

In May 2018 PROFILEmiami reported that the Paraiso District was over 97% sold-out. A number of A-list celebrities have already purchased units in the development, including David Guetta, Alex ‘A-Rod’ Rodriguez, Gael Monfils, and more. The 4-towers that make up the 11-acre Paraiso District include One Paraiso, Paraiso Bay, Gran Paraiso and Paraiso Bayviews. The buildings were designed by Arquitectonica with interiors by Piero Lissoni and landscaping by Enzo Enea. All of the buildings and the overall Paraiso community include some of the most luxurious amenities include tennis courts, screening rooms, residents' lounges, fitness center(s), bowling alley, spa, yoga room and multiple pools including a 100 ft diameter lagoon pool with "beach" entry. The property will be decorated with works of art and sculptures by Pablo Atchugarry. Paraiso will also feature the Paraiso Beach Club, which will be the home of Michael Schwartz’s new restaurant as well as plans to dedicate a half-acre of land onsite along Biscayne Bay’s for a public park. 

The Related Group & Dezer Development Successfully Pays Off $114.7 Million Construction Loan For HYDE Suites & Residences Midtown Miami

The Related Group and Dezer Development have officially announced that they have paid off construction financing for the recently completed Hyde Suites & Residences Midtown Miami. The $114.7 million loan was issued by an affiliate of Mack Real Estate Credit Strategies, a New York lending firm, in February 2016. The property is the partnership’s most recent co-developed project to complete, with Residences by Armani/Casa slated for a 2019 delivery. The 470-unit mixed-use Hyde Midtown, which broke ground in September 2015, is nearly completely sold out. The property’s hotel component, the first in the Midtown neighborhood, is expected to open in this fall (2018).

“The rate of closings, and subsequently our ability to fulfill this loan, speaks to the strength of the Midtown submarket as well as top-tier quality of our product,” said Ben Gerber, Vice President of Finance for The Related Group. 

“We are ecstatic with the delivery of Hyde Midtown,” added Carlos Rosso, President of The Related Group’s Condominium Development Division. “The essence of the Hyde brand paired with David Rockwell’s interiors perfectly represents the neighborhood’s hip, modern aura. It’s incredible to see the energy as future residents come in to sign and are finally able to see their new home.” 

Hyde Midtown features 410 luxury residences and 60 designer suites, with a sleek exterior designed by Arquitectonica. The project boasts a slew of amenities, including an expansive seventh floor pool terrace, private screening theater, game room and upgraded fitness facilities. As a part of the ongoing partnership between Related and famed hospitality group sbe, all Hyde residents will be able to enjoy access to South Beach’s hottest beach club, Hyde Beach at the SLS Hotel South Beach. 

Inside The Building Collapse At The Future Site Of Brazillian Billionaire Jose Isaac Peres' 5775 Collins Ave In Miami Beach

Miami is never short of real estate drama, but what happened yesterday in Miami Beach is a true rarity as the shell of the former Marlborough House, located at 5775 Collins Avenue has come crashing to the ground. The accidental collapse shut down a large portion of Collins Avenue and has left a project manager hospitalized in critical condition. The demolition was supposed to take 2 weeks and was being overseen by subcontractor AlliedBean. Winmar Construction, the contractor for the project applied for a demolition permit in August 27, which was denied before reapplying and being issued a conventional demolition permit in May 2018. Wimnar has since stated that AlliedBean Demolition Contractors was responsible for all demolition work. 

The project has not been without its other share of drama, as neighbors opposed the project when first revealed, complaining about a "Condo Canyon" effect which is caused by newer building taking up the entire lots they are built on in terms of width. This would block partial views of the ocean as well as limit public access to the beach. The proposal was later approved by the Miami Beach Design Review Board in December 2017. 

The new building at 5775 Collins, which is being developed by Jose Isaac Peres' Multiplan Real Estate Asset Management and is being designed by Arquitectonica. The luxury residential tower will rise 17 stories and feature 89 units. The building would also feature 2 levels of semi-subterranean parking. The proposed tower is outfitted with white stucco-tipped slabs with a glazed glass skin on the units. The balconies will be finished with with a warm brown wood, with planks oriented and glass rails. There will also be 2 penthouses with private pools. Amenities will include a beachfront pool and lounge areas. No new adjusted timeline has been released following the collapse. 

Check out the video of the collapse below:

Photos via Sun Sentinel & Arquitectonica 

Downtown Miami's $800 Million Signature Bridge Awarded Notice To Proceed By FDOT

Florida Department Of Transportation (FDOT) has awarded the Archer Western-de Moya Joint Venture, the contractors for Downtown Miami's $800 million Signature Bridge, a Notice To Proceed. The final chosen design known as The Fountain and will be the new gateway to Miami Beach, transforming I-395 and the entry to MacAruthur Causeway. The initiative will build a 55-acre park, known as Heritage Trail, under the bridge, as well as changes to State Road 836 including adding a lane and building Miami's first double-deck highway. The construction timeline is 4 years.

The Signature Bridge project has had its fair share of drama. In an April 2018 hearing, the State of Florida Division of Administration Hearing ruled in favor of FDOT after bridge advocate and former Miami City Commissioner Marc Sarnoff filed a lawsuit alleging that FDOT violated their 2013 settlement agreement via their handling of bids to design and build the bridge by manipulating scoring to allow the Archer Western and The de Moya Group's proposal to win. In May 2018 a Judge ruled in favor of FDOT to allow them proceed with the winning design.

Terra's Arquitectonica-Designed Rentals Summerhill In Coconut Grove Unanimously Approved

Terra Group will move ahead with Summerhill in Coconut Grove after the project was unanimously approved by Miami's Urban Development Review Board (UDRB) in July 2018. Summerhill is being designed by Arquitectonica and features a design that pays homage to Coconut Grove's sailing culture. The project will feature two, 20-story towers that feature 303 apartment rental units along with over 32,160 SF of leasable commercial space and 574 parking spaces. Summerhill will be located at 2655 S Bayshore Drive. 

Project Name: Summerhill

Neighborhood: Coconut Grove

Developer: Terra Group

Architect: Arquitectonica

Stage of Construction: Approved [Not Broken Ground]

Project Stats: 303 Residential Units, 32,160 SF Commercial