University Bridge Residences Closes On $231 Million In Bond Financing

University Bridge GP, LLC, a partnership between between Miami-based Global City Development, RER Ventures and Toronto-based Podium Developments that is developing the off-campus 20-story student housing rental tower University Bridge Residences, has closed on a $231 million bond issuance. The bond represents the largest financing of its kind for an off-campus student housing building in the United States. University Bridge Residences is located directly across from Florida International University (FIU) where the funding will provide $50+ million in scholarships over 40 years to and as per the terms of the agreement, Florida International University will also take ownership of the building upon completion of the bond payments in 2058.

“Today’s bond issuance is a major milestone and an especially proud moment as we come one step closer to delivering a new residential and retail landmark for Florida International University and the surrounding neighborhood,” said Brian Pearl, Principal of Global City Development. “As the largest financing of its kind, it gives us enormous satisfaction that the bond investment community recognized the obvious need in the marketplace for student housing and that this project will benefit FIU for many years to come.”

University Bridge Residences broke ground in June 2018 and is being built by Coastal Construction Group and designed by Arquitectonica. Construction crews started the foundation last month, and the project is slated to be completed in time for the 2020-2021 academic year. University Bridge Residences will serve the school’s rapidly growing student population’s housing demand which is the fourth-largest university in the United States by enrollment, with more than 55,000 students, but only 8% of the student body lives in college owned, operated or affiliate housing. The project rises 20 stories and features 886 units along with 7,000 SF of commercial space.

“We specifically chose to use this method of funding to serve both the project and the community for generations to come,” said Diego Procel, Principal of Global City Development. “University Bridge Residences will introduce a new paradigm in the area and we are excited to welcome our student residents in the near future.”

Christopher Kallivokas, Managing Member of RER Ventures added, “This extraordinary project could only have happened with the cooperation, vision and foresight of the President and the Board of Trustees of FIU in conjunction with the City of Sweetwater Mayor and City Commissioners.”

Construction At OKO Group's Missoni Baia Goes Vertical In Edgewater

OKO Group, the Miami-based development company founded by international real estate magnate and hotelier, Vladislav Doronin, has announced that the foundation work for Missoni Baia is now complete and construction crews have taken the tower vertical. The foundation includes 190 piles totaling 12,160 linear feet, more than 345 tons of steel-reinforcing bar, and 2,250 cubic yards of concrete, the equivalent of 225 full drum-loads in a cement mixer truck. Crews are now working on the installation of columns and shear walls is underway for the building’s expansive amenities deck and parking garage, which will include space for 398 cars and 17 private parking stalls. Construction is on track for the expected completion in late 2020 with crews pouring one floor per week.

“We are extremely pleased with Missoni Baia’s progress to date and look forward to seeing the tower’s contemporary architecture take shape on this unique waterfront location overlooking Biscayne Bay,” said Vladislav Doronin, Chairman and CEO of OKO Group. “We are certain the building will have a profound effect on the Miami skyline, in addition to offering an elevated and unparalleled living experience in Edgewater, which is already one of the city’s most sought-after residential destinations.”

“We look forward to the steady ascent of the Missoni Baia tower as it rises to become a formative addition to East Edgewater and the Miami skyline," said Jonathan Goldstein, CEO of global real estate investment firm Cain International, and OKO Group’s partner. “With OKO Group and Cain International’s combined experience, developing over 20,000 apartments and condos across the globe, Missoni Baia will deliver first class luxury and amenities in an iconic Miami skyscraper."

“The Missoni Baia project continues to resonate well with the domestic market and also with international buyers, particularly those from Mexico, Colombia and Brazil. It is a great confidence boost to see the progress made and we are excited to witness the daily changes on site as construction climbs skyward.” said Edgardo Defortuna, president and CEO of Fortune Development Sales.

Missoni Baia will feature 249 condo residences situated along 200' of frontage on Biscayne Bay at 777 Northeast 26th Terrace. Prices start in the $500,000's for a 1 bedroom residence. Units range from 1 to 5 bedrooms, and 776 SF to 3,788 SF. Missoni Baia will rise 57-stories, 649', and was designed by Hani Rashid of Asymptote Architecture, who are pioneers in the convergence of art and technology in architectural design. The interior design of the building incorporates Missoni’s trademark colorful design palette and Missoni Home furniture collection in inventive ways, including in all public spaces and amenities. Amenities were designed in collaboration with Missoni and offer the comforts of a luxurious resort in a private residential setting. Features include a flow-through deck designed for all-day sunbathing with well-appointed cabanas, 5 swimming pools including an Olympic-sized lap pool, hot and cold plunge pools, a children’s pool, and an infinity-edge pool on the Bayfront Terrace, elevated tennis court and an expansive fitness center and spa overlooking the bay. The drone construction video can be found below:

Construction Underway At The Perkins + Will-Designed 1212 Lincoln

Construction is now underway at Crescent Height’s Perkins + Will-designed 1212 Lincoln in South Beach where construction crews have already begun foundation work. The project will feature 70,000 SF of retail including a brand new Wells Fargo Bank and over 400 parking spaces. A second phase on the adjacent lot will bring a 50-room CitizenM hotel, additional retail and a food court. 1212 Lincoln will help expand Lincoln Road across Alton Road westward. 

The Borges Architects + Associates-Designed Megacenter Brickell Gearing Up To Go Vertical

Megacenter Brickell is gearing up to go vertical as foundation work is nearing completion and the developer has filed with the FAA for crane installation. Megacenter Brickell is being developed by Red Megacentro and is designed by Reinaldo Borges of Borges Architects + Associates. The project will feature 74,790 SF of storage space, 57 residential units spread over 45,080 SF, 16,670 SF of office space, 9,134 SF of retail and 111 parking spaces. Megacenter Brickell is located at 420 SW 7th Street, Miami.

Check Out ZOM's Newly Opened Stantec-Designed Solitair In Brickell

ZOM Living's new Stantec-designed Solitair is now open in Brickell after breaking ground in 2015. Solitair is located directly across the street from Brickell City Centre at 86 SW 8th Street. The 50-story tower, which broke ground in 2015, features a design inspired by the Medjool date palm tree. Solitair features 438 residential rental units with luxurious finishes which range from studio, one and two-bedroom layouts with a selection of 2-bedroom penthouse suites. Amenities include a resort style swimming pool on the 50th floor, spa, billiard room, resident's lounge, business center, and a fitness center complete with an outdoor yoga area. The building also brings 6,200 SF of ground floor retail space and 463 parking spaces. Pricing starts at $1,293 /mo. and varies based on availibilty. 

CAOBA Miami Worldcenter Reveals New Renderings As Tower Powers Towards Completion

CAOBA Miami Worldcenter has revealed new renderings and launched a website in anticipation of the buildings upcoming completion. CAOBA’s market-rate rental apartments range in size from 500 SF studios to 1,300 SF 3-bedroom floor plans. Residences feature 9' ceilings, contemporary design finishes, in-unit washers and dryers, and private balconies that open up to sweeping views of Biscayne Bay and the downtown Miami skyline. Amenities, including a pool deck overlooking downtown, a fitness center, a clubroom and an outdoor dog-walking lawn.

CAOBA was the first tower in the 27-acre, $2 billion Miami Worldcenter mega-project to top-off at 43 stories in Downtown Miami's Park West neighborhood. The transit-oriented rental complex is bringing 444 market-rate apartments to Miami’s urban core along with 888 parking spaces. CAOBA also will bring more than 20,000 SF of ground-floor retail space which will feature shops and restaurants, connecting Miami Worldcenter’s ‘High Street’ retail promenade and plaza to the east between Northeast 1st and 2nd Avenues.

The project was formerly known as the first phase of the Seventh Street Apartments and was co-developed by CIM Group with Falcone Group. CAOBA is located at 698 Northeast 1st Avenue and is one block from Miami Central, downtown’s new transportation hub and Brightline’s high-speed rail Miami terminal, which offers direct train service to Fort Lauderdale, West Palm Beach and Orlando. The 27-acre, 10-block Miami Worldcenter is one of the largest private real estate developments currently under construction in the United States. Miami Worldcenter features a diverse mix of urban land use, including high-street retail, hospitality, office and residential uses surrounded by world-class amenities and boasting convenient access to transit.

Check out the website: https://www.caobamwc.com

Follow PROFILEmiami's coverage of CAOBA

Adler Group & 13th Floor Investments Propose Link at Douglas At Douglas Road Metrorail Station

Adler Group and 13th Floor Investments have submitted plans for Link at Douglas to Miami-Dade County, representing the first step of their multi-phase plan bring a mixed-use development to the Douglas Metrorail Station. The proposal includes a 40-story tower with 11-story parking garage and 406 residential units along with 60K SF of retail. The tower will rise 450' and is being designed by Arquitectonica. Construction is expected to begin Q1 2019.

The 1.2 Million SF Zyscovich Architects-Designed Aventura ParkSquare Receives TCO

Aventura ParkSquare has received its Temporary Certificates of Occupancy (TCO) from Miami-Dade County as the mixed-use projects gears up to open to residents and commercial tenants. Aventura ParkSquare is being developed by Integra Investments and was revealed in 2014 before breaking ground in 2016. The project was designed by Zyscovich Architects and the 7.4 acre project, which is located at Waterways Boulevard and NE 207th Street, is designed to promote a walkable lifestyle with ground floor activity and a shaded, interior main street pedestrian promenade. The project includes 1.2 million SF of total development spread over 5 buildings featuring a 9-story office and condo building, a 45K SF medical center, a 207-key Aloft Hotel, a senior housing building and a parking garage. Tenants include Starbucks, Doc B's, Barry's Bootcamp, and Delicious Raw Kitchen and Juice Bar. 

Miami's UDRB Approves The 224-Unit Altis For Little Havana

Miami's Urban Development Review Board (UDRB) has approved the 224-unit Altis at 2100 SW 8th Street in Little Havana. The project will rise 8 stories and will feature 224 apartment rentals, 351 parking spaces and ground floor retail. The developers received a 10% reduction in parking waiver. Altis is being designed by Anillo Toledo Lopez and being developed by Altman Development Corporation. 

Dezer Development & Related Group Celebrate Top-Off Of Residences by Armani/Casa In Sunny Isles

The Residences by Armani/Casa is one step closer to completion as Dezer Development and The Related Group have announced that the tower has topped off at 649' and is now 80% sold. The development team and the tower’s general contractor, Coastal Condominiums, and executive architect, Sieger Suarez Architects, commemorated the topping off of the 56-story contemporary glass tower designed by world-renowned architect César Pelli with a luncheon for over 500 construction workers, engineers and other contractors involved in the project. The project is expected to be completed in Fall 2019. 

“This announcement is another major milestone for Armani/Casa’s first branded real estate project in the U.S.,” said Gil Dezer, president of Dezer Development. “We’ve always been proud of the special characteristics of this unique project, but seeing Residences by Armani/Casa coming to life and now in its final dimensions is a great moment."

“We are extremely pleased to bring the internationally-celebrated talents of César Pelli and Giorgio Armani to Sunny Isles Beach, further defining the city as one of the world’s leading addresses for elegant living and sophisticated design,” said Jon Paul Perez, Vice President of The Related Group. “Residences by Armani/Casa, with its world-class team of designers and architects, has already delivered a new dimension to South Florida’s ultra-luxury, high-end real estate market.”
 
Units at Residences by Armani/Casa range in size from 1,350 SF to 5,820 SF and are priced from $2 million to $17 million for the tower’s duplex penthouse. The Residences by Armani/Casa will feature over 35,000SF of incomparable amenities across two floors, all exquisitely designed and custom-furnished by the Armani/Casa Interior Design Studio under the artistic direction of Giorgio Armani. Appealing to the most sophisticated of buyers, Residences by Armani/Casa’s amenities include a Lounge on the lobby level and a Prive area, a fine dining restaurant, cigar room and wine cellar, heated swimming pool, ocean-facing fitness center, two-story revitalization spa with indoor and outdoor treatment rooms, movie theatre, and clubroom. The lush outside features exclusive beach amenities on a 300' stretch of private shore complete with a three-acre garden oasis designed by the tower’s award-winning Swiss landscape artist, Enzo Enea, as well as monumental sculptures by internationally recognized artists, Sandro Chia and Boaz Vaadia.

Check out PROFILEmiami's coverage of Residences by Armani/Casa