Coastal Construction Tops Out University of Miami's Centennial Village Student Residence

Coastal Construction Group, one of the largest privately held construction companies in the Southeast, has topped out the University of Miami's Centennial Village, a state-of-the-art student residence that will accommodate over 2,000 students. Phase I of Centennial Village is anticipated to open in fall of 2024, with Phase II anticipated to open in fall of 2026.

Coastal Construction Group, one of the largest privately held construction companies in the Southeast, has topped out the University of Miami's Centennial Village, a state-of-the-art student residence that will accommodate over 2,000 students. Phase I of Centennial Village is anticipated to open in fall of 2024, with Phase II anticipated to open in fall of 2026.

This is the fourth construction project Coastal Construction has topped out for the University of Miami, including the Thomas P. Murphy Design Studio Building, which won the title of 2018 Building of the Year by World Architects.

The University of Miami’s Centennial Village, designed by VMDO Architects: Zyscovich Architects, is the second phase of a multi-year plan to modernize campus housing and will serve as a hallmark of the Coral Gables Campus and support the University’s efforts to competitively recruit top academic and athletic talent.

Made up of five residential colleges, Centennial Village will continue the successful First-Year Experience program with live-in faculty as well as professional and student staff who support and enhance the first-year experience. In addition to double rooms and an increased offering of single rooms, the new residential colleges will feature centrally located private bathrooms, shared resident lounges, and collaborative academic spaces.

Additionally, Centennial Village will be positioned to take advantage of the many outdoor and programmatic elements of the Coral Gables Campus surrounding Lake Osceola.

"As a former ‘Cane, I am especially pleased to celebrate the topping out of the University of Miami's Centennial Village. I started my construction career from a UM fraternity house when I was a student, so this project is particularly near and dear to me,” said Thomas P. Murphy, Jr., Founder, Chairman, UM alumnus and CEO of Coastal Construction Group.

Renderings via University of Miami

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Focus Reveals Plans For Residential Project At Former Starlite Motel East Site in Brickell

Focus, a Chicago-based real estate development and construction firm, has revealed plans for the redevelopment of the former Starlite Motel East site in Brickell. The project will be Focus’ first project in South Florida and follows the Miami-Dade County Board of Commissioners' recent approval of the rapid transit zone (RTZ) designation for the site where Focus plans to develop a new luxury housing development.

Focus, a Chicago-based real estate development and construction firm, has revealed plans for the redevelopment of the former Starlite Motel East site in Brickell. The project will be Focus’ first project in South Florida and follows the Miami-Dade County Board of Commissioners' recent approval of the rapid transit zone (RTZ) designation for the site where Focus plans to develop a new luxury housing development which blends contemporary design with the city's unique cultural heritage. The project is designed by Gensler and set to include 516 residential units, ground-floor retail, rooftop amenity spaces and 506 parking spaces. Focus acquired the site for $28 million in November 2022.

“We are thrilled to progress our plans and designs in the Southeast region of the United States, focusing on Florida right now," said Tim Anderson, CEO and Founder of Focus. "As Focus celebrates a 30-year history of responsible and sustainable development, we will continue to dedicate ourselves to creating projects that contribute positively to the communities we serve. Miami's vibrant metropolis, with its walkable urban cores, offers a dynamic and energetic environment that aligns perfectly with our mission.”

Celebrating 3 decades in business, Focus holds an exceptional reputation for delivering high-quality, design-driven buildings that seamlessly integrate into their surroundings. Focus’ portfolio includes properties in Chicago, Evanston, Forest Park, Highland Park, Lake Forest, Oak Park, Vernon Hills, Wheaton, and Winnetka in Illinois.

Renderings via Focus

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ONE Park Tower by Turnberry Reveals New Renderings of Amenities And Interiors

ONE Park Tower by Turnberry has revealed new renderings of their amenities and interiors, designed by Arquitectonica and Meyer Davis. Set within the multi-billion dollar, 184-acre master-planned community of SoLé Mia in the heart of North Miami, ONE Park Tower by Turnberry is a 33-story luxury condominium set to deliver 299 bespoke residences overlooking a seven-acre Crystal Lagoons amenity and surrounded by pristine natural landscapes.

ONE Park Tower by Turnberry has revealed new renderings of their amenities and interiors, designed by Arquitectonica and Meyer Davis. Set within the multi-billion dollar, 184-acre master-planned community of SoLé Mia in the heart of North Miami, ONE Park Tower by Turnberry is a luxury condominium reimagined for the next generation. The 33-story tower will deliver 299 bespoke residences overlooking a seven-acre Crystal Lagoons amenity and surrounded by pristine natural landscapes, a beach with private access, amenities created to offer residents a sophisticated lifestyle, and ocean views.

Envisioned by award-winning architecture firm Arquitectonica with interior design by globally recognized Meyer Davis, ONE Park Tower by Turnberry has been thoughtfully designed to offer resort-style, attainable luxury living for families seeking a walkable and connected community to call home.

Consisting of spacious one-, two-, and three-bedroom units plus a collection of penthouses, the residences boast dens and powder rooms and are designed to fit a range of lifestyles, all with connectivity to the outdoors and panoramic views of the stunning turquoise lagoon, Oleta River State Park, Biscayne Bay, the Atlantic Ocean, and the Miami city skyline.

Spanning 900 square feet to 2,100 square feet, residence interiors intentionally blend the natural beauty of the site with the vibrancy of the surrounding urban atmosphere. High ceilings and walls of glass open up to oversized private wrap-around terraces with seamless glass railings. All units will be completely finished with porcelain floors, oversized master bedrooms and walk-in closets (with upgrades available), and master baths featuring wet rooms with shower and soaking tub.

The centerpiece of the SoLé Mia community, a crystal-clear swimmable lagoon the size of 21 Olympic-sized pools, will provide ONE Park Tower by Turnberry residents a dedicated lagoon-front beach with umbrellas and beach chairs. Property staff will offer exceptional, individualized service for which Turnberry is known, including a Beach Concierge to arrange stand-up paddle boards and kayaks for rent and dining from The Lagoon Café and adjacent restaurants.

ONE Park Tower by Turnberry’s healthy lifestyle includes 37 acres of active and passive green space with eight miles of biking and running trails, private swimming pools, pickleball courts, and a state-of-the art wellness center which includes fitness, spa and massage facilities. Residents will also enjoy co-working facilities, a library, private event rooms, a climate-controlled wine room and dedicated children’s playroom. A gated entry, 24-hour security and secured garage parking with electric charging stations complete the offering.

ONE Park Tower by Turnberry is located at 2411 Laguna Circle, North Miami, FL.

Renderings via ONE Park Tower by Turnberry

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FIRST ON PROFILE: DAMAC Sets The Record Straight Addressing Misconceptions Following Special Commission Meeting, To Proceed With Submission B

FIRST ON PROFILE: DAMAC International, a Dubai-based luxury property developer renowned for setting ambitious standards in design and innovation around the globe, and the developer behind the forthcoming Zaha Hadid Architects-designed ultra-luxury condominium at 8777 Collins Avenue in Surfside, is setting the record straight to address misconceptions and misinformation following the July 25th Town of Surfside Special Commission Meeting in order to promote an informed dialogue.

FIRST ON PROFILE: DAMAC International, a Dubai-based luxury property developer renowned for setting ambitious standards in design and innovation around the globe, and the developer behind the forthcoming Zaha Hadid Architects-designed ultra-luxury condominium at 8777 Collins Avenue in Surfside, is setting the record straight to address misconceptions and misinformation following the July 25th Town of Surfside Special Commission Meeting in order to promote an informed dialogue. The developer is set to move ahead with Submission B, the wedding cake design which meets all current Town zoning requirements.

In June 2023, DAMAC submitted an application for site plan approval incorporating two design variations by the world-renowned architectural firm Zaha Hadid Architects for 8777 Collins Avenue to the Town of Surfside. As part of the application, DAMAC submitted two design variations with a common theme. The submission was based on alternative interpretations of the Town’s regulations. Submission A features consistent elevations on all sides and Submission B, colloquially referenced as the “wedding cake,” steps in on the South elevation.

Following the Town Commission vote on July 25th not to proceed with an ordinance that would, if adopted, establish a mechanism for Commission to provide setback flexibility for sites in the H-120 zone, DAMAC will be proceeding with Submission B, which is the wedding cake design. Submission B meets with all current Town zoning requirements but the proposed development at 8777 Collins Avenue is not without challenges.

The developer understands the unique and significant sensitivities involved with this property and remains committed to addressing concerns and to maximizing benefits for stakeholders while also ensuring privacy for future residents of its exclusive boutique condominium.

There have been several myths surrounding the proposed development and facts to dispel inaccuracies responded to in a statement provided by DAMAC International to PROFILEmiami can be found below:

MYTH 1:

A nefarious meeting was held in Dubai between the developer and Mayor of Surfside, and the developer bankrolled the trip for its own gain.

FACT:

Not true. As part of a planned journey to Israel for his son’s graduation last year, the Mayor of Surfside had a prearranged stopover in Dubai. During this stopover the Mayor of Surfside attended a meeting, suggested by senior management at DAMAC International, to meet with the DAMAC Chairman. This allowed them to meet for the first time and casually discuss the developer’s plan for 8777 Collins Avenue and how a memorial might be accommodated on site.

DAMAC strongly objects to any inference of wrongdoing. It should also be noted that DAMAC did not pay for any flights, accommodation or any other expenses incurred by the Mayor during his stay.

MYTH 2:

A memorial to the victims of the Champlain Towers South disaster will/should be located in the center of the property.

FACT:

The Town of Surfside and the Town’s Memorial Committee have already agreed to a memorial immediately adjacent to the property on a portion of 88th Street. This decision is memorialized in the Town’s Resolution Number 2022-2853, passed on January 11th 2022, whereby the town manager was directed to pursue all governmental approvals necessary to permanently close a section of 88th Street located in between Collins Avenue on the west and the public beach to the east for a memorial park and pedestrian plaza.

DAMAC purchased the property out of receivership as part of a court-directed process to fund a compensation fund for victim families. There is no condition of the sale requiring a memorial to be located on the site.

Despite being under no obligation to accommodate an onsite memorial, DAMAC has attended and partook in discussions with Surfside Commissioners and members of the Town’s Memorial Committee more than a year ago, to discuss the potential to incorporate a memorial on the property. The ordinance modifications necessary to facilitate a memorial on the site was subsequently rejected by the Town of Surfside on 25th July 2023.

MYTH 3:

DAMAC proposed the potential setback ordinance modifications discussed by the Town Commission on July 25th for its own benefit.

FACT:

The ordinance modification was proposed by Town management following meetings with victim families where some family members had asked for the opportunity for an extension of the public memorial on the property. The ordinance, if adopted, would provide the Town Commission the flexibility to adopt modified setbacks for the property that would, in turn, allow additional space to be created for an extension of the public memorial space. The ordinance change is not necessary for the development of the property as proposed.

MYTH 4:

If the ordinance reviewed on July 25th is ultimately approved, DAMAC would be the sole beneficiary of the ordinance and would receive 37,600 square feet extra buildable area (worth $50 million) as a result.

FACT:

Not true. First, the proposed ordinance would apply to all H-120 zoned land and is not exclusive to the property.

Second, DAMAC’s current plan Submissions are roughly equal in overall size and the application of the proposed ordinance would not result in additional floor area.

The Town Attorney clarified this issue at the July 25th Commission meeting. See link to video here.

Niall Mc Loughlin, DAMAC International Senior Vice President of Communications concluded “We also note comments from the previous Town Commission prior to the sale of the site (and repeated by the former Mayor at the July 25th meeting) that the Town is committed to not “down zoning” the property.”

“Given the upcoming Town elections, DAMAC would not be surprised to see further caustic ‘political theatre” in Surfside, additional grandstanding, and attempts to derail the project and publicly discredit the company for political gain or self-interest. We are confident that the submitted project is consistent with the Town’s regulations and look forward to continuing to work with the Town and stakeholders,” said Niall Mc Loughlin.

Renderings via DAMAC International

This article was published via a statement provided by DAMAC International. PROFILEmiami takes no ownership or responsibility behind any of the statements in the above article. All statements should be independently verified.

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Lefferts Files Plans For 72B Miami Beach Luxury Condominium Across From Recently Revealed 72 Park

Just weeks after launching 72 Park in Miami Beach, Lefferts, a real estate development firm with properties in Miami and NYC, has submitted an application submission to Miami Beach’s Design Review Board to develop 72B, a 20-story luxury condominium located just south of Surfside. Tentatively named 72B, the condominium is one of four developments the New York City and Miami-based real estate developer is spearheading in Miami Beach.

Just weeks after launching 72 Park in Miami Beach, Lefferts, a real estate development firm with properties in Miami and NYC, has submitted an application submission to Miami Beach’s Design Review Board to develop 72B, a 20-story luxury condominium located just south of Surfside. Tentatively named 72B, the condominium is one of four developments the New York City and Miami-based real estate developer is spearheading as part of its long-term commitment to revitalizing this Miami Beach neighborhood. The property will include commercial space, inclusive of food and beverage concepts, on the ground floor.

72B deliver as a 239,424 square foot luxury tower featuring 125-residences, located at 600 72nd Street Miami Beach, and will be designed by Arquitectonica. Exclusive Sales & Marketing will be managed by Douglas Elliman Development Marketing.

Lefferts estimates breaking ground on its latest project in Miami Beach’s desirable North Beach neighborhood in 2024, and expects to complete the condominium in 2027. Last month, Lefferts announced it had partnered with Cervera Real Estate to be the exclusive sales and marketing partner for its new condominium tower, 72 Park, just across from 72B at 580 72nd Street.

72 Park and this new luxury tower comprise two of the four residential developments Lefferts is spearheading as part of its long-term commitment to revitalizing this Miami Beach neighborhood, and ushering in a new era of investment and growth for one of the most desirable oceanfront communities.

“This close-knit Miami Beach community has an undeniable charm that is only exalted by the amazing public recreation spaces and locally owned businesses in the area,” said Jim Hedden, chief development officer of Lefferts. “We are deeply committed to preserving the fabric of the residential community while enhancing the quality of life and options available for families looking to make this slice of paradise their home.”

Renderings via Lefferts

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FIRST ON PROFILE: Indian Creek Residences & Yacht Club in Bay Harbor Locks Down $29 Million Construction Loan

FIRST ON PROFILE: The New York and South Florida-based Landau Properties has closed on a construction loan for Indian Creek Residences & Yacht Club on Miami’s Bay Harbor Islands, a boutique residential property, which will include condominium residences and a private marina. Construction on the development is now underway and sales will formally launch this fall. Miami-based private real estate lender BridgeInvest originated the $29 million loan.

FIRST ON PROFILE: The New York and South Florida-based Landau Properties has closed on a construction loan for Indian Creek Residences & Yacht Club on Miami’s Bay Harbor Islands, a boutique residential property, which will include condominium residences and a private marina. Construction on the development is now underway and sales will formally launch this fall led by Official Partners which was founded by Oren and Tal Alexander of the Alexander Team.

Miami-based private real estate lender BridgeInvest originated the $29 million loan to finance the ground-up construction of Indian Creek Residences & Yacht Club. It is the firm’s most recent transaction in its flagship fund, BridgeInvest Specialty Credit Fund IV, which focuses on development, bridge and value-add lending throughout the U.S. Raffi Landau of Estreich and Company arranged the construction financing provided by BridgeInvest.

“We are pleased to have the confidence of BridgeInvest on this very special project that will offer an unparalleled opportunity on the Bay Harbor Islands,” said Jonathan Landau, Founder and CEO of Landau Properties. “We received strong lender interest for this project, and this financing package affirms our team's ability to create an incredible residential experience with a combination of an amazing waterfront location, service-oriented lifestyle and world-class design. BridgeInvest, a highly regarded lending institution in South Florida, proved to be the perfect partner given their established local presence and robust construction abilities. It was a pleasure getting to know the BridgeInvest team and working with them on this transaction. Indian Creek Residences & Yacht Club has already captured interest from today’s most discerning buyers, and we look forward to seeing the building come to life, with demolition now underway.”

“We are excited to finance a unique, design-forward, boutique project on one of the best developable waterfront lots in Bay Harbor Island,” said Alex Horn, BridgeInvest managing principal and founder. “Jonathan Landau and his team are already proving their abilities to leverage their decades of development experience as they embark on creating the Landau Properties brand. We wish them continued success."

Indian Creek Residences & Yacht Club, which Landau Properties acquired the site for in 2022, will bring nine luxury condominium homes and six private yacht slips. The boutique building provides one of the only private yacht clubs in the area, as well as a sought-after opportunity to overlook the coveted Indian Creek Island. The waterfront development is being designed by Kobi Karp with interiors by Linda Zarifi of Zarifi Design.

Renderings via Landau Properties

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The Most Opulent Listing In Lake Park Hits The Market At Nautilus 220 In The Palm Beaches

Royal Palm Companies and Forest Development have revaled Penthouse F5, the final penthouse available. PHF5 is a stunning home with a rooftop terrace at Nautilus 220, a new luxury mixed-use development with condominium residences in two, 24-story towers, with restaurants like SeaHawk Prime by David Burke, retail, and offices all alongside a full-service marina.

Royal Palm Companies and Forest Development have revaled Penthouse F5, the final penthouse available. PHF5 is a stunning home with a rooftop terrace at Nautilus 220, a new luxury mixed-use development with condominium residences in two, 24-story towers, with restaurants like SeaHawk Prime by David Burke, retail, and offices all alongside a full-service marina. With nearly 4,600 square feet of total living area and a rare private roof terrace with pool, the residence is the most coveted listing in Lake Park to be announced at $4.6 million.

Located on the top floor of Nautilus 220’s South Tower, Penthouse F5 boasts 12-foot ceiling heights, two spacious bedrooms and two and a half ultra-luxe bathrooms. The rooftop terrace includes a summer kitchen, private pool, and sun deck. The residence also features direct elevator access to the foyer for ultimate privacy.

“Nautilus 220 brings a first-of-its-kind luxury development to the Lake Park area in the Palm Beaches and the penthouse gives residents an unparalleled level of oceanfront luxury,” said Peter Baytarian, Managing Partner of Forest Development. “As Palm Beach country continues to gain popularity and momentum with fans of waterside living from near and far, this penthouse is a truly elite option for living the South Florida dream that is minutes from famed Palm Beach and the ultimate luxury shopping, dining, and lifestyle.”

Nautilus 220 is comprised of 330 two- and three-bedroom residences in two, 24-story towers ranging from 1,500 to 3,400 square-feet. Various floor plans with plunge pools, summer kitchens, and unobstructed views of the Intracoastal Waterway and Atlantic Ocean. The project also offers an array of amenities including a one-acre outdoor amenity deck, resort-style pool, rooftop lap pool, wellness plaza, putting green, club room, theatre lounge, billiards, bowling, off leash dog run, guest suites, and private beach club access. The lobby, common areas, 5th floor amenities and model residence were each thoughtfully designed by Interiors by Steven G. Inc. Located in the popular Palm Beaches, this luxe development provides direct access to SeaHawk Prime by David Burke, as well as various other waterfront restaurants, retail, and office suites. Nautilus 220 is also set alongside the popular Lake Park Harbor marina offering slips for boats up to 100 feet.

“Nautilus 220 brings a unique, mixed-use experience to those in the Lake Park area with residential, F&B, retail, and office space all in one development,” said Daniel Kodsi, CEO of Royal Palm Companies. “The future resident of Penthouse F5 is someone who loves the Palm Beach lifestyle, but wants more in terms of new construction, amenities, and contemporary style. This resident will also appreciate the opportunity to own on the water just minutes from the beach at these prices. This is Palm Beach 30 years ago and has a tremendous opportunity to grow and appreciate in value with all that is going on in the area. PHF5 is its own private oasis with access to all of Nautilus 220’s top-notch amenities.”

The Nautilus 220 development team includes Forest Development and Royal Palm Companies. The design team includes architecture by R+N Architecture, interior design by Interiors by Steven G. Inc., and planning and landscape by Insite Studios. Sales and marketing for Nautilus 220 is being handled by Oculus Realty. Nautilus 220 is approaching 80% sold with construction expected to be completed in Fall 2024.

Renderings via Nautilus 220

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Pacific & Orient Properties, LLC Celebrates Construction Milestones for 7918 West Drive in Miami’s North Bay Village

7918 West Drive, a 21-story, 54-residence waterfront condominium development in Miami’s North Bay Village, has passed significant milestones in construction as the building’s foundation through third level are now complete with significant progress completed on the parking garage. Additionally, concrete has been poured on the 6th level as well as the verticals (columns and shear walls). The foundation for the south section of the parking garage is completed as well.

7918 West Drive, a 21-story, 54-residence waterfront condominium development in Miami’s North Bay Village, has passed significant milestones in construction as the building’s foundation through third level are now complete with significant progress completed on the parking garage. Additionally, concrete has been poured on the 6th level as well as the verticals (columns and shear walls). The foundation for the south section of the parking garage is completed as well. The estimated completion date for the development is the first half of 2025. 7918 West Drive is being developed by Pacific & Orient Properties, LLC.

“The meticulous planning and execution of the construction process have been instrumental in achieving this milestone,” said Chan Thye Seng, CEO and Managing Director of Pacific & Orient Properties, LLC. “We are excited to be a part of the rediscovery that is happening in North Bay Village and to redefine the standards of waterfront living in North Bay Village.”

Thornton Residential is the general contractor, and Juan Azulay, founder and director of MTTR mgmt, is the project architect. The building’s lobby features the design of ONE DESIGNS Co. Ltd, a Tokyo-based multidisciplinary architectural design firm. For those seeking a home that simply redefines attention to detail, the firm includes architectural designers and first-class certified architects who bring the expertise of Japanese construction and interior design.

7918 West Drive is the firs new residential project to break ground in North Bay Village in over a decade and is uniquely designed, offering cutting-edge technology throughout. Since its groundbreaking ceremony in February 2023, the development has been making impressive strides, solidifying its position as a symbol of architectural excellence in South Florida due to its exceptional design and meticulous attention to detail.

7918 West Drive is a collection of dramatic residences, where east meets west. Aerial views show the distinctive architecture and landscape elements that define every floor plan and each unit, respectively. Its combination of Japanese-inspired culture, spectacular design and modern, high-tech living sets the project apart from the rest. The community offers a Zen Garden, yoga space and water elements to create an indoor-outdoor feel.

Kitchens will feature modern cabinetry by SieMatic, premium countertops and surfaces by Cosentino, and quality Miele appliances. Residences will also feature Hansgrohe and Kohler plumbing fixtures. In addition, 7918 West Drive’s advanced technology will include customized software automatization for the latest in privacy, security and convenience.

Situated on a 33,600-square-foot lot on the Intracoastal Waterway, 7918 West Drive will feature 15,224 square feet of common areas, 148 parking spaces and 16 storage units.

Residences are priced from $2 million to over $17 million and range in size from 1,677-7,086 square feet total, each residence will feature a minimum of two bedrooms, with at least two view exposures to Biscayne Bay. With only four units per floor, all residences are corner units with each balcony having an irregular shape and irregular ceiling shape, providing partially shaded and partially sunny areas.

The combination of a thriving neighborhood, proximity to major cities, and serene waterfront living make North Bay Village and 7918 West Drive a highly desirable location for those seeking a luxury condo in South Florida.

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SHVO Locks Down $190 Million In Financing For The Raleigh Hotel & Residences, Miami Beach

SHVO, the ultra-luxury real estate development and investment firm led by Michael Shvo, has secured $190 million in new financing for The Raleigh Hotel & Residences, Miami Beach, a significant milestone in the next chapter of the iconic art-deco storied property. The loan, provided by BH3 Debt Opportunity Fund II, L.P. led by BH3 Management through its opportunistic credit platform, closed earlier this week. Construction is well underway and the property is on-track to open in 2026.

SHVO, the ultra-luxury real estate development and investment firm led by Michael Shvo, has secured $190 million in new financing for The Raleigh Hotel & Residences, Miami Beach, a significant milestone in the next chapter of the iconic art-deco storied property. The loan, provided by BH3 Debt Opportunity Fund II, L.P. led by BH3 Management through its opportunistic credit platform, and facilitated by Walker & Dunlop's New York Capital Markets team, closed earlier this week. Construction is well underway and the property is on-track to open in 2026.

With a total investment of approximately $1 billion, including a substantial equity contribution of over $300 million, the restoration and expansion of The Raleigh by SHVO, in partnership with Deutsche Finance America and a group of German institutional pension funds,represents one of the single largest investments in Miami Beach and serves as a testament to SHVO’s commitment to bringing world-class design and architecture to the city.

Located on 1775 Collins Avenue and situated on an unprecedented three-acre oceanfront parcel, the return of The Raleigh will redefine Miami Beach's historic Art Deco district. The design, helmed by acclaimed architect Peter Marino in collaboration with Miami-based Kobi Karp Architecture, will feature a 60-suite full-service hotel managed by Rosewood Hotels & Resorts, a separate 17-story oceanfront tower with 42 Rosewood-branded residences, and a private member’s club with Michelin-starred dining concepts.

“As we proceed with our meticulous restoration of The Raleigh, we continue to be inspired by its legacy of elegance, glamour and sophistication,” said Michael Shvo, Chairman and CEO of SHVO. “Our new financing will allow us to honor the historic significance of The Raleigh while ushering it into a new era of refined luxury, creating an unparalleled hospitality experience for generations to come.”

“BH3 is pleased to provide the financing for the first stage of construction for SHVO’s plan to restore and revive the iconic Raleigh property in Miami Beach,” said Gregory Freedman of BH3 Management. “Between SHVO’s track record of execution on other marquee luxury projects, the best-in-class team that has been assembled, including Rosewood and Peter Marino, and The Raleigh’s historic relevance and design, this will be a transformational project for Miami Beach.”

“This transaction underscores the reality that despite today’s challenging capital markets environment, liquidity remains readily available for proven sponsors determined to develop unique assets in established markets,” said Aaron Appel, Senior Managing Director and Co-Head of the New York Capital Markets team at Walker & Dunlop. “The collaboration between SHVO, Peter Marino and Rosewood Hotels & Resorts ensures that upon delivery, The Raleigh will be a truly market-defining project and a welcome addition to the rapidly changing landscape of Miami Beach.”

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Related Group And Rockpoint Sign Leases With Three New Retail Tenants At Manor at Miramar

Related Group, Rockpoint, and JLL have signed leases with three retail tenants at the new, mixed-use development Manor at Miramar now under construction in the heart of Miramar, Florida. Crema Gourmet, Sweat440, and The Spot Barbershop are the first retail tenants announced at the project located at 1 Main Street in Miramar where approximately 17,600 square feet of ground-level retail space remains available for lease.

Related Group, Rockpoint, and JLL have signed leases with three retail tenants at the new, mixed-use development Manor at Miramar now under construction in the heart of Miramar, Florida. Crema Gourmet, Sweat440, and The Spot Barbershop are the first retail tenants announced at the project located at 1 Main Street in Miramar where approximately 17,600 square feet of ground-level retail space remains available for lease. The property is expected to welcome residents and commercial tenants by the year’s third quarter.

JLL Senior Vice President Jonathan Rosen represented ownership in the lease negotiations.

“Since the project’s inception, we wanted to ensure Manor at Miramar offered a variety of retail services that would better the experience of residents and the surrounding community,” said Related Group’s, Senior Vice President of Development, Jessica Melendez. “With the addition of these three tenants, customers will be able to enjoy everything from a local food and beverage favorite to fitness and cosmetic services.”

Offering a wide ranging menu of delicious options from espressos to salads and bowls, Crema Gourmet Espresso Bar will be located on the corner of Main Street and Red Road taking 2,700 square feet of space on the ground floor. Since 2012, Crema Gourmet has quickly become a local favorite with fantastic coffee, juices, smoothies, salads, sandwiches, pasta, wine, beers, and more. Open seven days a week, the fast-casual spot focuses on finding gourmet ingredients that are carefully curated and fresh.

SWEAT440 is a dynamic 40-minute workout concept designed for beginners and experienced fitness enthusiasts alike. The boutique fitness studio will be taking 3,200 square feet at the development and offers one of the most convenient group fitness options with 40-minute, four 10-minute station classes are HIIT circuits: short, intense bursts of exercise with brief periods of rest to maximize calorie burn – and sweat.

Established in 2001 and growing rapidly with 20 locations, The Spot Barbershop will occupy 1,500 square feet along the project’s pedestrian walkway fronting the Miramar City Hall Promenade. From hot towel shave treatments to hip haircuts to straight razor shaves, The Spot Barbershop offers classic grooming services in a modern setting with skilled stylists combining superb service, a relaxed and sophisticated classic style into an experience where the goal is to make customers feel great and look even better.

The eight-story, luxury rental Manor at Miramar will feature 393 residential units ranging from studios to three-bedroom layouts. The project has 134 dedicated retail parking spaces comprising 23 on-street parking spaces, 53 parking spaces in a surface parking lot fronting Red Road, and 58 structured parking spaces dedicated to retail. Additional free parking is available in surrounding public parking garages. Related Group expects move-ins to begin by December 2023.

“Miramar is quickly becoming one of South Florida’s most sought-after retail submarkets,” said JLL’s Rosen. “Manor at Miramar is the ideal option for retailers looking to have an established residential base right upstairs and also benefit from the great foot traffic brought by the nearby Miramar Town Center.”

Since 1979, Related Group has enhanced skylines with real estate development characterized by innovative design, enduring quality and inclusive living. From luxury high-rise condominiums to more accessible developments, the Related Group’s distinctive brand of culture, design and lifestyle-infused properties continues to revitalize urban neighborhoods.

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