PMG Locks Down $161.5 Million Construction Loan For 400 Biscayne

PMG and Greybrook Realty Partners have locked down a $161.5 million construction loan for the development of 400 Biscayne. The financing was provided by Centennial Bank and Square Mile Capital, the same group that provided the loan for PMG’s neighboring and completed project X Miami. Andrew Warman, Jonathan Blank and Lowell Plotkin led the PMG to securing the financing with Luis Flores of Saul Ewing Arnstein & Lehr as the attorneys representing the partnership between PMG and Greybrook Realty Partners.

“We are working hand-in-hand with First United Methodist Church and Greybrook Realty Partners to create something special for the neighborhood, which will continue to foster growth and connection in this city we love,” said Ryan Shear, a Managing Partner at PMG.

400 Biscayne broke ground in June 2019 and when complete will rise 49-stories with over 1 million SF of total development. The tower will feature 646 rental apartments, 51,000 SF of commercial space and 22,000 SF of space which is dedicated to the First United Methodist Church of Miami. 400 Biscayne will feature a lounge and restaurant in the lobby, co-working spaces, gym, pool deck and outdoor lounge, amongst other amenities. The First United Methodist Church of Miami will feature a chapel, fellowship hall, chassrooms, offices, 3-story sanctuary with views of Biscayne Bay and a basketball court. 400 Biscayne is expected to be completed at one point in 2021.

OKO Group Launches The AS+GG Designed 830 Brickell Office Tower In Miami's Financial District

OKO Group, the US-based development company founded by international real estate and hotel magnate Vladislav Doronin, and Cain International, a privately held real estate investment firm, have revealed plans for 830 Brickell, the first new office tower to launch in Miami in nearly a decade. The soaring 57-story, 724’-tall skyscraper designed by one of the world’s leading architecture firms, Adrian Smith + Gordon Gill Architecture (AS+GG), will introduce a premium commercial offering to the city’s booming financial district and will reinvent Miami’s workplace lifestyle for the highest-caliber of global workforce. Cushman & Wakefield’s leasing team is launching the marketing of the building to prospects now, ahead of 830 Brickell’s completion in 2021. A $300 million construction loan from MSD Partners, L.P. closed in July this year. 

“The 830 Brickell development, in its unmatched location, will enhance and elevate the commercial landscape of Miami, helping to attract world-players in finance and business to this thriving city. In my 26-year career as a developer I have built 71 commercial and residential buildings totaling over 75 million square feet, I am proud to be bringing what will be the best office building to Miami with 830 Brickell,” says Vladislav Doronin, Chairman and CEO of OKO Group. 

830 Brickell will feature spectacular only-in-Miami panoramic ocean and city views, floor-to-ceiling windows, column-free spans, state-of-the-art digital infrastructure with Wired certification and a LEED Silver certification due to its progressive environmentally efficient design. It will be Miami’s most contemporary office tower, befitting the city’s growth into an international capital of business. 

“Cain International is proud to lend our focus and experience developing properties that offer modern luxury workforce amenities to this auspicious project and to Brickell,” said Jonathan Goldstein, CEO of Cain International. “830 Brickell will reach the top of the Miami skyline and deliver the top level of amenities and services for its tenants.” 

830 Brickell will also be differentiated by its unprecedented lifestyle offerings for a commercial tower, which will promote out-of-the-box collaboration, work-life balance and wellness. Aimed at attracting the world’s largest companies and progressive visionaries, the project touts an elite roster of first-rate amenities – including an upscale rooftop restaurant and bar on the 56th and 57th floors, a 30th floor sky lobby with a nearly 2,500 SF health and wellness center and first-class conference facility, a 14th floor outdoor terrace designed by Enea Landscape Architecture, valet parking and electric vehicle charging stations, cafés and shopping. Offering white-glove customer service, the tower also boasts a forward-thinking culture of seamlessness, highlighted by a 24-hour concierge responsible for event planning and coordination, booking restaurant reservations, sending out dry cleaning, organizing deliveries and more. Additional services will include bicycle storage, a shoe shining stations and much more. 

830 Brickell will also feature a rooftop restaurant and bar offering sweeping views of downtown that will energize the building at night. Additional roof terraces will allow tenants to enjoy the Miami weather without being on the street level. The 30th floor sky lobby with café and fitness center offers more advantageous views to all tenants. 

Vertical construction on 830 Brickell is set to begin in the late summer of 2019 and already WeWork, the global leader in the surging co-working industry, has signed on to occupy 146,000 SF in the 1,030,000 SF tower.

Stantec Completes Interior Design For Muze at Met In Downtown Miami

Global design and engineering firm Stantec has completed the interior design of the new 43-story residential tower, Muze at Met in downtown Miami. Developed by ZOM Living and managed by ZRS Management, the 391-unit luxury high-rise is part of the Metropolitan Miami mixed-use complex located at 340 SE 3rd Street.

“We made the essence of the interiors come to life by merging urban elements with raw materials,” said Maureen McLaine, interior designer with Stantec’s Miami office. “Sleek metal and bold black accents were blended with stone, wood and leather, creating a natural, sophisticated design concept.”

The use of reclaimed wood, living green walls, and low VOC paints in the common areas signal the project’s adherence to green elements. The lobby is adorned with an undulating light fixture that cascades down to the white marble reception desk. A metal accent running through the dark wood lobby flooring ties the exterior to the interior, while a custom three-dimensional, floor-to-ceiling backlit metal panel screen serves as a focal point near the elevators.

The seventh floor amenity level includes a relaxation lounge with plush white sofas, polished black petrified wood end tables and decorative wooden slabs anchored by lounge rooms with living green walls, complemented by an adjacent two-story high bookmatched Calacatta Italian stone wall across the room. The fitness and wellness center offers a spa, sauna, steam room, yoga room and fully-equipped gym with top-of-the-line Peloton treadmills and TechnoGym fitness equipment.

A floating wooden staircase connects to the eighth-floor amenity deck featuring a clubroom and entertainment area complete with designer lounge furniture, large screen TVs and a billiards table. Surrounded by glass doors and floor-to-ceiling windows, residents can enjoy the pool deck views while experiencing the resort style pool with cabanas, outdoor lounge furniture and wet bar. Large custom art pieces dispersed throughout the amenity levels cohesively tie in with the raw materials and furnishings.In addition, the amenity deck features a 24-hour co-working and business center designed with wooden work pods and a separate conference room with glass doors. Other amenities include an indoor pet salon with grooming and washing stations, and a playground area decorated with custom dog-themed artwork.

Residences at Muze at Met offer studios, one-, two-, three-bedroom units and penthouses, featuring tile flooring throughout, European-style kitchen cabinetry and bathroom fixtures, a chef’s island and stainless steel appliances, including dual zone wine fridges.

The 714,000 SF mixed-use project also includes retail space, four restaurants, and an 18-screen Silver spot cinema.

Brickell Hotel Project Featuring AC Hotel By Marriott & Element By Westin Receives Construction Permits & Financing

A 24-story Brickell hotel project being developed by Robert Finvarb, which will feature both an AC Hotel By Marriott and the Element By Westin, has received its construction permits and financing. The development, which was designed by Arquitectonica, will feature a 264 key hotel component split between the 2 brands, 23,000 SF of retail, a rooftop lounge and 60 parking spaces. Construction financing came in the form of $67 million from City National Bank and $29 million in mezzanine financing from Summit Hotel Properties, the later of which will have the option to purchase the hotel from the developer.

The Ritz-Carlton Residences, Miami Beach Receives TCO And Commences Closings

Lionheart Capital, a Miami-based real estate development firm, has reached the home stretch of construction after receiving TCO approval for The Ritz-Carlton Residences, Miami Beach. Since launching sales, the project has become the largest residential adaptive reuse project in South Florida, the first full-scale architectural project in the U.S. by master Italian architect, Piero Lissoni and the only residential project in Miami Beach situated on over seven-and-a-half acres. Sales are currently at over 70% of the 111 units which offer 60 unique floorplans. Amenities at The Ritz-Carlton Residences, Miami Beach include a half-acre rooftop pool deck, ecological food forest and community garden, house yacht and 36-slip private marina. Additionally, the world’s first residential art studio and sharing room, medical concierge with celebrity author of The South Beach Diet, Dr. Arthur Agatston, social rooms, cinema, children’s room, and library further complement the Ritz-Carlton lifestyle. The Residences range in size from 2,000 SF to over 10,000 SF, priced from $2 million to over $40 million.

“Turning a set of massive historical structures into one cohesive modern masterpiece was no easy feat and our team has made it a tremendous success. The best things in life are worth waiting for and we have designed this project meticulously, taking the time to integrate the development seamlessly with the surrounding community,” said Ophir Sternberg, CEO and founding partner of Lionheart Capital. “The wait is finally over, and we are looking forward to welcoming residents to this exclusive real estate collector’s item, designed for life.”

“The excitement has been building with our residents and prospective buyers leading up to this much anticipated announcement,” according to Jay Parker, CEO of Douglas Elliman’s Florida Brokerage. “Unlike the buying habits of today’s market, where buildings are torn down every few years, this project has been curated as an investment for the long term, as an instant classic with only the finest architecture, best in class interior design, world’s first amenities of their kind and exclusive location that cannot be replicated.”

“Unlike other projects in the area, these residences feel like single-family homes instead of ‘cookie cutter’ condo units,” explained Jason Rosenhaus, Vice Chairman of Rosenhaus Sports Representation and buyer at The Residences. “My family and I are looking forward to begin moving in this month, as Lionheart Capital has spared no expense to ensure perfection and have made this irreplaceable home worth the wait.”

Photo Credit: Courtesy of The Ritz-Carlton Residences, Miami Beach

Miami Dolphins Break Ground On Best In Class Training Complex At Hard Rock Stadium

The Miami Dolphins have broken ground on their new, best in class training complex that will be located in one of the former parking lots at Hard Rock Stadium. The project is expected to cost $135 million to build. The 217,200 SF facility will feature multiple outdoor fields, a 92,200 SF indoor field, state-of-the-art weight room, locker room, hydrotherapy, recovery area with cryotherapy, rehab areas, dining hall, auditorium, meeting rooms, press area, office area, fan amenities, broadcast area and on-site medical equipment as well as the Baptist Sports Performance Clinic which will be operated by partner Baptist Health. The facility was designed by Rossetti and construction is being overseen Moss Construction. The complex is expected to be completed in Spring 2021. 

Kushner Companies To Move Ahead With 2000 Biscayne After Filing For Construction Permit

Kushner Companies has applied for a construction permit as they gear up to move ahead with the development of their 2000 Biscayne site in Edgewater, the first site they plan to develop as part of their $550 million, 3-phase project. The proposed project for 2000 Biscayne, which was originally designed by Dorsky + Yue, is expected to cost $123.6 million with a total development area of 706,148 SF. 2000 Biscayne will rise 36-stories, 418’, and will feature 393 residential units, 5,500 SF of ground floor retail and 455 parking spaces. Kushner Companies is targeting a Q3 groundbreaking for phase 1 and the 3-phase project will ultimately bring 1,100 residential units to Edgewater.

PARAMOUNT Miami Worldcenter Receives TCO As Tower Powers Towards Completion

PARAMOUNT Miami Worldcenter has received its TCO as the $500 million, 60-story tower is powering towards completion with closings expected to commence in the coming weeks. The residential tower features 569-units which start at $885,000. The tower is 90% sold with buyers representing 56 countries. PARAMOUNT Worldcenter features more than 40 amenities including resort style pool complete with floating pods, tennis courts, soccer pitch, boxing studio, basketball court, golf simulator, state-of-the-art fitness center, Sky Observatory, Tai Chi deck, and a rooftop entertainment deck 60 stories above the Miami skyline.PARAMOUNT Miami Worldcenter is being developed by Dan Kodsi with Art Falcone and Nitin Motwani. PARAMOUNT Miami Worldcenter is the luxury residential condo tower that is part of the larger $2 billion, 30-acre Miami Worldcenter initiative that will transform Miami's urban core via world-class high-street retail concept with shopping, dining, entertainment, hospitality, office space, a Marriott Marquis Miami Worldcenter Hotel & Expo Center, apartment rentals, amongst others.

ROVR Development Gearing Up To Break Ground On Grand Station Tower In Downtown Miami This Year

ROVR Development, led by Oscar Rodriguez and Ricardo Vadia, is gearing up to break ground on Grand Station Tower at 40 NW 3rd Street in Downtown Miami after first applying for construction permits in March 2018. Grand Station will rise 31-stories, 322’, and will feature 300 apartment residences and 5,000 SF of retail. The project will also expand the Courthouse Center Garage with an additional 350 parking spaces and the tower will rise over the newly built portion. The developers have set-up Grand Station Partners and plan to launch a public-private partnership with Miami Parking Authority. The project is expected to cost $70 million to develop with Ortega Construction as the general contractor. Grand Station Partners has a 99-year land lease on the site with an option to extend an additional 50 years.

Magic City Innovation District Set To Transform Little Haiti After Receiving Final Approval

Magic City Innovation District (MCID), a 17.7-acre Innovation District in Miami’s Little Haiti and Little River neighborhoods, has received a unanimous final approval from the Miami City Commission. MCID spans 6 city blocks and intends to redevelop the Little Haiti and Little River neighborhoods to create a walkable, campus-like neighborhood where individuals from all demographic backgrounds can enjoy a high-quality live, work, play lifestyle. With an emphasis on technology, sustainability, health and wellness and art and entertainment, MCID will contribute to the economic vitality of the area and enhance the appeal of the community.

Renovations and construction commenced in August 2018 on 17 of MCID’s 21 commercial buildings. The project's first phase of commercial development features 200,000 SF of leasable space spread through several modernized warehouses. Designs for the commercial spaces, which range from 300 to 14,000 SF, are spearheaded by a variety of local design firms, including McKENZIE and ELM Architects. MCID anticipates being ready to receive office, retail and other commercial tenants as early as September 2018. Metro 1 is overseeing lleasing efforts for the 17 spaces, geared toward creative-style tenants that align and shape MCID’s atmosphere and further promote foot and auto traffic throughout the neighborhood. The developers will also contribute $31 million to the Little Haiti Revitalization Trust which will be overseen by the city

When complete, the Magic City Innovation District Will feature 3.8 acres of public civic space, 2.18 acres of landscaped pedestrian promenade dubbed the Promenade du Grand Bois, 2,630 residential units, 1,987,686 SF of office, 101,669 SF of expo space, 432 hotel rooms, 344,538 SF of retail, and 6,081 parking spaces. The first 4 tenants to commit to MCID were revealed in Sprinf 2019 including Diana Lowenstein Gallery, Manmar Entertainment (marketing), Ecovie (recycling start-up), and COOL Creative (advertising).