Terra Reveals Plans For Arquitectonica-Designed Multifamily Project in Little Havana

Terra Group has revealed plans for their newly proposed redevelopment of the Central Shopping Plaza, located across from the Magic City Casino in Little Havana, with the addition of a multifamily project with roughly 1,384 residential units and 1,559 square feet of commercial space on the 38 acre property. The project would feature seven 8-story garden style buildings designed by Arquitectonica, located at 3800 NW 11th St., 3899 NW 7th St. and 901 NW 39th Ave. Terra Group would not demolish but would upgrade and renovate the 301,806 square foot shopping center, which was built in 1959, and features a Walgreens and Party City. The project’s total development would measure roughly 1.74 million square feet. Terra is currently under contract to acquire the property from HayDay Inc., an entity controlled by Barbara Havenick and Isabel Amdur, who also own the Magic City Casino. The proposal was recently reviewed by Miami’s Urban Development Review Board.

“Terra is seeking approval to reposition the underutilized Central Shopping Plaza into a 38-acre mixed-use development. Plans for the development include preserving and upgrading the existing retail center with significant infrastructure and landscaping improvements, while adding an adjacent market-rate multifamily housing component with on-site parking and new green space,” said Terra Group in a statement.

CocoWalk Announces New Fashion-Focused Retailers Ahead of Fall Reopening In Coconut Grove

CocoWalk, one of the most highly anticipated mixed-use projects in Miami, has announced new clothing concepts to join their lineup. The open-air lifestyle center is bringing new tenants and energy to the Coconut Grove neighborhood. It is slated to begin its phased reopening later in the Fall along with new fashion-focused tenants. CocoWalk features 150,000 sq.ft. of prime retail and dining space that is currently 80% leased. New brands include Free People Movement, Europann and Late Night Gypsy.

“Our aim is to return CocoWalk to its former vitality by bringing in carefully curated tenants attuned to the wants and needs of the local community and surrounding neighborhoods,” said Stuart Biel, senior vice president of regional leasing at Federal Realty Investment Trust. “FP Movement, Europann, and Late Night Gypsy are cool and original apparel concepts that will not only enhance the center Grove’s retail offerings but will bring the community together for unique experiences.”

CocoWalk offers new tenants the opportunity to launch new concepts and test the market in prime retail space. Free People Movement is by the Philadephia based boho fashion house Free People. Their new line will offer customers fashionable athletic wear from a brand they already know and love. Europann is a men’s clothing line from Saint-Tropez, introducing the French Riviera style of prints and bold colors to Miami. Late Night Gypsy will offer trend-setting vintage clothing concepts from Los Angeles. Their brands include For Love and Lemons, Lavish Alice, Jen’s Pirate Booty and Band of Gypsies. 

“I’m excited to bring the trendy, street chic style of Los Angeles to the colorful spirit of Miami,” said Allegra Wynne-Kaplan, founder and owner of Late Night Gypsy. “Growing up in Miami, I always loved Coconut Grove’s enchanting vibe and unique energy – and after 15 years in Los Angeles, I’m ready to return to my roots, by opening my first storefront location at CocoWalk in the Grove. The artsy and free-spirited nature of the neighborhood perfectly aligns with Late Night Gypsy’s brand, mission, and image, and I look forward to being part of the Grove community once again.”

The three new retailers will join CocoWalk’s existing list of chic, diverse and international shops and restaurants. The list includes Planta Queen, Sushi Garage, Mister 01 Extraordinary, Botanico Gin & Cookhouse, Salt & Straw, Sweetgreen, Narbona Natural Foods & Farm Market, Bluemercury, Edward Beiner, Edite Mode, Palma de Leon, The Spot Barbershop and The School of Rock. The bespoke lineup of CocoWalk brings a new age of fashion, beauty and lifestyle to Coconut Grove. 

Metro Edgewater Gearing Up To Break Ground In Edgewater's Paraiso District

Colombian developer Carlos Ortiz is gearing up to break ground on his planned rental apartment building, Metro Edgewater, which will be located in Edgewater’s Paraiso District. The project recently received FAA approval and is expect to break ground in January 2021 pending the issuance of building permits. Metro Edgewater will rise 32-stories, 373’, and will feature 279 rental units targeted at millennials and young professionals. The project will also feature 4,063 square feet of ground floor retail and a pedestrian promenade along NE 31st Street with lush landscaping and street furniture, designed to act as a gateway for pedestrians from Biscayne Boulevard into the Paraiso District. The parking platform will feature a metal louver screen adorned with geometric artwork by the Miami-born artist Johnny Robles. Metro Edgewater is designed by Pablo Burgos of Burgos Lanza Architects & Planners with landscape architecture by James Socash, all in collaboration with David Polinsky’s Fortis Design + Build. Metro Edgewater will be located at 433-449 NE 30th Terrace and 430-452 NE 31st Street.

MG Developer Locks Down $16.5 Million In Equity Financing To Complete Coral Gables Luxury Townhome Projects

MG Developer, led by CEO Alirio Torrealba, has locked down $16.15 million in equity financing to complete two luxury townhome projects in Coral Gables, Biltmore Row and Althea Row. The projects are currently under construction after broking ground in February 2020. The financing was provided by PBVMF 23 LLC and was arranged by Jeffrey Donnelly and Dmitry Levkov of Colliers International South Florida.

The projects are being developed as part of MG Developer’s Biltmore Square, which features MG Developer nearby projects including apartment projects Biltmore Parc and the recently sold-out Beatrice Row. Biltmore Row features 10 townhome units and is located at 760 Valencia Ave. while Althea Row features 5 townhome units and is located at 735 Almeria Ave. Each townhome under development offers 4 bedroom floor plans and range from 4,514 to 5,524 square feet, featuring terraces, private loggias and luxurious finishes. Pricing starts just over $3 million per unit.

The Development Of Miami's Most Expensive And Deepest Underground Parking Garage Is Underway

Una Residences condominium will soon have Miami’s deepest underground parking garage with construction underway. The garage will reach nearly 50 feet and three stories below sea level and will become the most expensive underground parking garage in Miami costing developers $25 million to build. The subterranean parking garage will be 100,000 sq.ft. and house 236 cars for Una Residences, located on Biscayne Bay waterfront in Brickell and estimated to be complete in 2023. 

Una Residences is developed by OKO Group and Cain International with design by architects Adrian Smith + Gordon Gill. The luxury condominium will be nearly 600 feet tall once the project is complete. The underground parking garage will be one of a kind and hidden underground to maximize the condo’s waterfront views without any obstruction. This approach is very expensive and contracts the usual development strategy in South Florida that typically features a pool deck on top of several levels of parking to hide the garage. 

“OKO Group has extensive experience with subterranean construction, with our firm’s Capital City mixed-use development in Moscow encompassing a six-level garage for over 2,000 vehicles built 72 feet deep underground adjacent to the Moscow River,” said Ahmet Oktay Cini, Chief Operating Officer of OKO Group. “When conceptualizing the design for Una Residences in Miami, we envisioned a similar urban-style, efficient tower that would maximize as much space as possible for the use of residents and showcase the site’s waterfront views. The result was a modern condo tower without a parking podium, meaning more square footage for luxury amenities and residences.”

Civic Construction is the general contractor of the building who has taken on the task to build an underground garage that does not flood. They have developed a deep-soil-mixing construction process that will form a base of the garage underground to avoid flooding. 

“A below-ground garage of this caliber costs triple the amount of a typical parking garage. This kind of major investment in underground construction has never been seen before in Miami,” said William Real, President of Civic Construction Company. “The developers of Una Residences are sparing no expense when it comes to top-notch construction quality and efficient design, which will ultimately deliver a superior product for residents.”

The base of the garage is slated to be complete in early 2021, from there ground-level vertical construction will commence. The Una Residence tower is estimated to be complete in 2023. Residences are located at 175 SE 25th Road and prices start at $2 million up to $21.6 million for a penthouse. The luxury residence will rise up 57 stories and not only house Miami’s deepest underground parking, but offer residents beautiful views of Biscayne Bay and the Miami skyline. 

Terra Group's Proposal To Develop Bjarke Ingels-Designed Tower At 300 Alton Road Denied By Voters

Just days after we reported on Terra Group proposed 385’ Bjarke Ingels-designed tower at 300 Alton Road in Miami Beach’s South of Fifth neighborhood, voters have denied the sale of a parcel of land and air rights necessary to develop the project. Terra Group had offered $55 million for .3 acres and the air rights at 300 Alton Road but local opposition held that the offer was too low and Miami Beach is already too dense. Despite this the Miami Beach Chamber of Commerce and Ocean Drive Improvement Association supported the proposal. The sale of the .3-acre site and air rights was voted down by a 51.1% to 48.9% margin; although voters approved the long term lease on the city owned marina and management to Suntex by a margin of 52.4% to 47.6%.

“The results of yesterday’s vote make it clear that Miami Beach voters support our vision for a revitalized Miami Beach Marina alongside a package of community benefits and resiliency improvements to develop a ‘world class’ marina. Our team will now work with the City to determine the path forward,” said David Martin, President of Terra Group.

The project, which would have been called Marina Park, would rise 30-stories and would feature 60 luxury residential units which would be sold as condos in addition to 45,000 square feet of commercial space. The project would have a total development size of 225,000 square feet and would be the first Bjarke Ingels-design in Miami Beach.

Fontainebleau Miami Beach Reveals New Renderings Of NBWW-Designed Addition

Jeffrey Soffer’s Fontainebleau Miami Beach has revealed its proposed Nichols Brosch Wurst Wolfe-designed expansion across the street at 4360 Collins Ave, which is currently a surface parking lot. The buildings would be connected via a 90’-long pedestrian sky bridge that would cross West 44th Street. The addition would rise 5-stories and would feature convention space including two levels of ballrooms, a rooftop deck and three floors of parking offering 500 parking spaces. The parking lot to be developed at 4360 Collins Ave. was acquired by Soffer in 2005 for $15 million, the same year his family acquired the Fontainebleau Miami Beach hotel.

The Fontainebleau Miami Beach opened in 1954 and was designed by architect Morris Lapidus. The property spans more than 15 acres with 11 pools, a 40,000 SF spa, and 12 different restaurants and bars including Hakkasan and LIV Nightclub. The hotel is made up of four towers including the Chateau and Versailles towers with 846 hotel rooms as well as the Tresor and Sorrento towers with 748 condo-hotel units. It was acquired by Turnberry Associates for $325 million in 2005 before undergoing a $650 million gut-renovation.

Crescent Heights Announces Lease Signed For National Organic Supermarket At Nema In Edgewater

Crescent Heights has announced that a national organic supermarket chain has signed a lease for the ground floor retail space of Nema, which is planned to be developed at 2900 Biscayne Blvd. The name of the grocer chain is yet to be revealed but the location will be its first in the Miami area. The supermarket will occupy 38,950 square feet of ground floor retail space in addition to an indoor and outdoor cafe on the mezzanine level. The recently approved Nema will rise 38-stories and will feature 588 apartment units in addition to a full floor of indoor and outdoor amenity space.

Spec Home Developer Todd Michael Glaser Under Contract To Buy Jeffrey Epstein’s Former Palm Beach Mansion

Spec home developer Todd Michael Glaser is under contract to buy Jeffrey Epstein’s former Palm Beach waterfront mansion from his estate with plans to demolish the mansion and replace with a new home. Glaser’s undisclosed sum is rumored to be around $18 million, lower than the original listing in July for $21.995 million. The 6-bedroom waterfront mansion is a famous location for Epstein committing sex-trafficking crimes and luring underage girls. 

The Palm Beach mansion is located at 358 El Brillo Way and the listed exclusively with Kerry Warwick of the Corcoran Group. Glaser plans to knock down the existing home and build a 14,000 sq.ft. Art Moderne mansion. He expects the town of Palm Beach to be happy with his plans to demolish the existing home. 

Check Out The Bjarke Ingels-Designed Tower Terra Group Has Proposed For South of Fifth

Terra Group’s proposal to develop a 385’ Bjarke Ingels-designed tower at 300 Alton Road in Miami Beach’s South of Fifth neighborhood is headed to vote. The boutique tower would rise 30-stories and would feature 60 luxury residential units which would be sold as condos in addition to 45,000 square feet of commercial space. The project would have a total development size of 225,000 square feet and would be the first Bjarke Ingels-design in Miami Beach.

The project has been a hot-button topic over the past several months and the development team has been working with the community to present a design that would preserve view corridors and increase green space accessible by the public. The new proposal Led by David Martin, Terra Group is seeking to purchase air rights to the property from the City of Miami Beach for $55 million, in addition to the developer completing $22.5 million of public improvements including a one-acre public park and upgraded baywalk and $15 million for site residency and flood mitigation. The developer will also sign a long term lease for the city-owned Miami Beach Marina which will also see $35 million of improvements over 30 years and Suntex will be appointed as the new marina operator.