The Wharf Miami Set to Close Making Way For Groundbreaking Of Riverside Wharf On the Miami River

The Wharf Miami will close on Saturday, September 16 to make way for the expansion of the venue at the highly anticipated Riverside Wharf development. The iconic entertainment venue has welcomed millions of guests, hosted hundreds of cultural experiences and events, and became a space where countless cherished memories were made for all who have experienced the venue since its doors opened in November 2017. Originally the brainchild of Breakwater Hospitality Group’s Emi Guerra and MV Real Estate Holdings (MVREH)’s Alex Mantecon, The Wharf Miami has pioneered the open-air, waterfront concept and played a significant role in establishing the Miami River District as a world-class entertainment destination, as well as shaped the direction of entertainment venues in South Florida.

The Wharf Miami’s final weekend, dubbed “The Closing Parties” will be a monumental celebration kicking off with “The Closing Parties: & MORE!” on Friday, September 15, a themed celebration of everyone’s favorite moments and holidays at The Wharf Miami taking place from 4:00 p.m. - 3:00 a.m. The venue will be entirely decked out from top to bottom with “giant inflatables, photo moments, featured cocktails & more!” in celebration of The Wharf Miami’s most iconic events over the past five years. Seven themed bars with unique cocktails will include Cinco de Mayo, St. Patrick’s Day, Blowfish & Friends, HogWharf, Christmas and the 90s.

On Saturday, September 16, The Wharf Miami will host “The Closing Parties: Bon Voyage” from 12:00 p.m. - 3:00 a.m., the venue’s final day and a pure celebration of what makes The Wharf Miami. The first 500 people to arrive with an RSVP on Saturday will have a chance to spin a prize wheel to win The Wharf Miami merchandise. To RSVP for The Wharf Miami’s closing events, visit WharfMiami.com.

Upon closing of The Wharf Miami, seawall work will begin for the future site of Riverside Wharf, which is anticipated to break ground by end of year. Riverside Wharf will be home to the rebirth and expansion of The Wharf Miami, evolving from a pop-up experience to a world-class permanent establishment. Riverside Wharf as a whole will also include a 165-key Dream Hotel, an impressive 30,000-square-foot nightclub and rooftop day club, 16,000 square feet of signature restaurants, a 12,000-square-foot event hall, and a marina component.

“When we opened The Wharf Miami, it was a total game changer for the Miami River District and a never-before-seen concept in South Florida. Over the past six years, we have had the honor of operating this venue while bringing unique events, culinary concepts and an amazing atmosphere which forever changed Miami’s social scene. Watching the venue become so successful and beloved over time has been incredibly gratifying, we are proud to have created a space where guests felt welcomed and created lifelong memories,” said Emi Guerra, co-founder of Breakwater Hospitality Group. “While The Wharf Miami is closed, we are working hard to bring an impressive, elevated experience to Riverside Wharf, a project that would not have been possible without the support of our community. We invite guests to join us during the closing weekend to celebrate six incredible years of The Wharf Miami and what’s to come.”

Developed by MV Real Estate Holdings (MVREH) in conjunction with Driftwood Capital and Merrimac Ventures, the 10-story, 200,000-square-foot project will be the defining development for Miami’s Downtown core as a city-within-a-city, all-encompassing destination for unparalleled entertainment, exceptional dining and world renowned hotel accommodations. It will encompass a highly amenitized, 165-key Dream Miami luxury hotel, a world-class 30,000-square-foot nightclub and rooftop day club, a high-energy 12,000-square-foot event hall and mezzanine, as well as The Wharf Miami’s expansion. The property has been designed by Jon Cardello of Cube3 Architects, with interior designs by world-renowned iCrave and landscape design by Savino-Miller Design Studio.

“As Miami locals, it has been incredible to watch our city grow and experience The Wharf Miami’s evolution over time. The Wharf Miami has truly put the Miami River District on the map as a world-class entertainment destination. We are excited to begin the development of Riverside Wharf in this special location. This project will become a landmark property for Miami's Downtown core and provide a never-before-seen experience to our community, as well as will bring The Wharf Miami back as a permanent establishment on the waterfront,” said Alex Mantecon, CEO of MV Real Estate Holdings.

Dedicated to improving the neighborhood and giving back to the community, the developers of Riverside Wharf will construct a new public riverwalk along the development site as well as a state-of-the-art sea level rise initiative that will include building a new seawall. The project also will pay homage to the neighborhood’s historic fishing culture with a permanent Garcia’s Fish Market, where locals can get the freshest catch daily.

Last August, City of Miami’s referendum item #152 was passed after being unanimously supported by the Miami City Commission. This referendum added 50 years to Riverside Wharf’s current lease of a city-owned parcel of land which will be part of the development site, paving the way for Riverside Wharf to become a longstanding part of the Miami River community. This vote allows Riverside Wharf and its development partners the ability to provide the community with more jobs, commit more money to the City of Miami, improve the riverwalk and public areas near the property as well as improve the conditions of the aforementioned surrounding seawall.

The Wharf Fort Lauderdale will remain open and operational, alongside Breakwater Hospitality Group’s additional concepts which include recently opened, open-air waterfront venue Regatta Grove in Coconut Grove; beloved Irish pub JohnMartin’s on Miracle Mile in Coral Gables; seafood-forward restaurant concept Rivertail in Downtown Fort Lauderdale; and open-air gathering spot Carousel Club at Gulfstream Park in Hallandale Beach.

Disruptive Real Estate Brings Edgewater Vertical Development Site To Sale

Disruptive Real Estate, led by Miami power broker Stefano Santoro, has brought a world-class development site in the heart of Miami’s prime bayside in Edgewater, primed for an ultra-luxury hotel or condo project. The property, located at 702 NE 26th St. is currently asking $6.6 million.

Totaling 10,000 SF, the site’s favorable zoning, T6-36a-L allows for a variety of development uses with high density and building height. The subject property offers developers the opportunity to transform Edgewater’s skyline with an ultra-luxury condo or hotel project capturing the soaring population and rebounding hospitality market that the city is experiencing. The property features an FAR of 3 with buildable +/- 221,532 SF and density of 150 units per acre allowing 34.5 total buildable units on the .229 acre lot.

702 NE 26th St. is centrally located in Miami-Dade County on South Florida’s East Coast, positioned directly on NE 26th Street, which is off Biscayne Boulevard, a major north-south arterial road. The site is just east of Interstate 95, which connects to all major roadways in South Florida allowing easy access to area amenities. Positioned approximately four miles from Downtown Miami, seven miles from Miami International Airport and three miles to Port of Miami, the property offers unmatched accessibility to surrounding sub-markets.

Follow this link to check out the listing website and you can schedule a showing or get more information by contacting Stefano Santoro at 732-241-1940 or Stefano@disruptive-miami.com.

Images via Disruptive Real Estate

Clara Homes Receives Site Approval For Third Rental Building At Clara Bay Harbor

Clara Homes, a Miami-based real estate development firm founded by James Curnin, has received the approval for its third building and site plan at Clara Bay Harbor, a three-building ultra-luxury rental community in Miami's Bay Harbor neighborhood. Located from 10200 to 10290 East Bay Harbor Drive, the project's third and final six-story building will feature 77 expansive apartments as the largest of the three, spanning 1.3 acres. The site is the largest of the three spanning 1.3 acres, and following this latest city approval, construction is set to commence in 2024 for the third building. Clara Bay Harbor is a luxury rental community near Bal Harbour and Indian Creek, set to reinvigorate the Bay Harbor neighborhood into a premier luxury living destination with New York-style, personalized service and a spread of amenities including coworking lounges and rooftop pool.

As Clara Homes achieved approval for the third building, the firm also separately negotiated the purchase of Transfer of Development Rights (TDRs) from the Town of Bay Harbor Islands, a rare occurrence representing the need for rental product in the neighborhood and the trust the city has in the developer.

Int total Clara Bay Harbor will deliver a collective 150 luxury rental residences to Miami’s Bay Harbor neighborhood. The three buildings it comprises are being developed concurrently and cohesively, each with their own dedicated suite of amenities and services.

The first building, located at 10281 West Bay Harbor Drive, broke ground this February. Expected to open in fall 2024, it will feature 28 two- to five-bedroom apartments. Groundbreaking for the second building of Clara Bay Harbor, located at 1147-1163 100th Street, will take place later this year. With 45 expansive apartments, the site totals to about 145,000 gross square feet.

Clara Bay Harbor is Clara Homes’ first South Florida multifamily development, following the firm’s success developing, building and selling numerous Miami and Los Angeles luxury spec homes for above market rate prices.

Founded in 2014 by James Curnin, Clara Homes is a Miami-based, vertically integrated real estate firm offering residential and commercial development, operations oversight and custom homes. With work spanning South Florida to Los Angeles, the company has collaborated with some of the industry’s most innovative architecture firms, including Vertoch Design Architects, McClean Design and Strang Design, to differentiate its portfolio from others in the market. Currently in the pipeline are three waterfront spec homes, three privately owned custom homes, as well as a 150-unit, three-building rental development in Bay Harbor called Clara Bay Harbor.

Terra and Lion Development Group Acquire Midtown Development Site For $40 Million

A joint venture between leading Miami-based developers Terra, led by David Martin, and Michael Simkins’ Lion Development Group, has closed on the $40 million purchase of a prime 1.6-acre piece of property located at 3501 NE 1st Avenue in Miami. Plans call for an iconic luxury condominium tower designed by Miami-based architect Arquitectonica and international design studio Yabu Pushelberg set to rise at the nexus of Miami’s most in-demand neighborhoods, including the Design District, Midtown, Wynwood and Miami Beach. The joint venture has secured $30 million in financing from Metropolitan Commercial Bank, which will provide for the acquisition of the property and fund initial site development in advance of the project’s groundbreaking in 2024. Completion is estimated for 2026.

“Terra has long been committed to promoting design excellence and connectivity, so the opportunity to develop a tower at the gateway to the Design District, which has come alive as one of South Florida’s most walkable neighborhoods, is appealing. This tower will cater to residents who want to live steps away from world-class shopping, dining, and arts and entertainment – and minutes away from Miami Beach,” said David Martin, CEO of Terra.

“Here at Metropolitan Commercial Bank, we lend to best-in-class sponsors who are battle and time-tested experts in their asset class. We help them create and sustain generational wealth by understanding exactly how they create value, and by structuring our transactions to maximize this value creation. Terra has been on the front lines of reinvigorating some of the city’s most desirable neighborhoods for more than a decade now. We saw a great opportunity to help the firm acquire the last remaining undeveloped parcel in the Midtown Miami PUD. We are proud to add David Martin and Terra to our Florida sponsor roster,” said Manuel Vidal, Florida Market Manager for Metropolitan Commercial Bank.

Terra’s portfolio of luxury developments across South Florida includes Five Park, a 48-story residential tower rising at the entrance to Miami Beach; the two-tower Mr. C Residences Coconut Grove, which is nearing completion later this year; THE WELL Bay Harbor Islands, a wellness-focused mixed-use property planned for Miami’s Bay Harbor Islands with 54 luxury residences and 80,000 square feet of class A office space; and Villa Miami, a 55-story waterfront tower planned for Miami’s Edgewater neighborhood with roughly 50 full-floor residences.

Lion Development Group is led by Michael Simkins, one of the visionaries behind the E11EVEN brand and one of the largest property owners in Miami. Michael Simkins is leading the redevelopment of several distinct neighborhoods in South Florida and is currently developing E11EVEN Hotel & Residences, E11EVEN Residences Beyond and West Eleventh Residences.

FIRST ON PROFILE: Dubai-Based Developer DAMAC International Submits Pair Of Zaha Hadid Architect's Preliminary Designs For Surfside Development Site

FIRST ON PROFILE: DAMAC International, a Dubai-based luxury property developer led by Hussain Sajwani, it has submitted its application for planning approval to the Town of Surfside, incorporating Zaha Hadid Architects’ (ZHA) stunning design. Zaha Hadid Architects has produced a pair of design variations for a 12-story ultra-luxury boutique oceanfront condominium with 57 residences at 8777 Collins Avenue. The submission takes place less than a year from when the 1.8-acre oceanfront property was purchased in July 2022.

This commission marks the second Miami project for the award-winning British architecture and design firm founded by the late, Pritzker-prize winning architect Zaha Hadid. Zaha Hadid Architects were the vision behind One Thousand Museum Tower, the firm's first Miami masterwork, which became an immediate icon when it debuted in 2019 with an eye-catching, curving exoskeleton.

Each project by Zaha Hadid Architects is the very specific assimilation of its unique context, local culture, programmatic requirements and intelligent engineering— enabling the architecture and surrounding urban fabric to seamlessly combine, in both formal strategy and spatial experience.

“We are honored to have been chosen for this very special project. While no work of architecture can ever remove the pain of the past, nor should it, a truly ambitious work of architecture can respect such a significant site,” said Chris Lepine, Director, Zaha Hadid Architects. “It’s a great responsibility to be providing this vision for Surfside.”

As part of the planning application to the Town, DAMAC has elected to submit two variations of a common theme for consideration. The submission is based on alternative interpretations of the town planning ordinances. The first which steps in on the South elevation and the second with consistent elevations on all sides. The intention is to provide the Town with designs that we believe accord to the ordinances and meet the highest design standards possible under each interpretation.

Both designs feature a twin-building duality, with a sculptural form modulated with nested crescents that coalesce at the corners. These soft, cloud-like elements, stretch pull and contract emulating the ebb and flow of the ocean to animate the façade. Balconies stagger, never aligning vertically, to give variety to every floor and so that horizontal movement is emphasized. Balcony extensions, shading elements and geometric curves help to ensure privacy between condominiums and their adjacent spaces with a contemporary reinterpretation of privacy fins, a characteristic detail of Miami Modernism’s (MiMO) patterned screens filtering the strong Miami sun.

Each proposal incorporates precision-engineered façades that echo the colors and textures of sand within the adjacent dunes and beach. The rich materiality of these crafted facades embeds the building within its Surfside community and warmly reflects the magnificent variety of light throughout each sunrise, daytime and sunset on Miami’s internationally renowned coastline.

The designs maximize views and natural light into the condominiums from at least three aspects. The condominiums will flow seamlessly from indoors to outdoors with generous balconies extending the internal living space capitalizing on the Miami weather and ocean breezes. The condominiums, ranging from 4,000-15,000 square feet, will provide a variety of living experiences to the residents. The community amenities will include a 100-foot rooftop pool bridging across the atrium between the north/south arms of the building with direct views of Downtown, as well as a 75-foot indoor exercise pool.

Adjacent to this pool will be a spa and gym with views to the exterior landscape. The building is set within landscaped grounds enveloped by nature, reflective of its beachfront location and interface with the dunes and ocean.

"We are pleased to submit our planning application, featuring Zaha Hadid Architects’ design variations for the Town’s approval," said Niall Mc Loughlin, DAMAC International Senior Vice President of Communications. “They have raised their own bar once more with these two design variations, expertly weaving together form and space to engage the senses, and create an unrivalled ultra-luxury experience and a true sense of place.”

“We know we cannot replace what was so painfully lost, but it is our desire that the building honors and respects its location at the heart of Surfside’s community and offers a sense of closure to the tragic event of the past while also providing a sense of a new beginning,” added Mc Loughlin.

Related Group and LNDMRK Acquire Three-Parcel Site In Edgewater For $12 Million

The Miami-based Related Group, along with partner Alex Karakhanian at LNDMRK, have acquired 18,000 sq. ft. land parcel encompassing three adjoining sites in Miami’s Edgewater neighborhood. Located at 519, 525, and 535 NE 29th Street, the land overlooks Biscayne Bay and provides easy access to MacArthur Bridge, connecting Edgewater to Miami Beach, and to I-195, leading north to Fort Lauderdale and Palm Beach. Related and LNDMRK paid $12 million for the largely undeveloped site.

“Related identified the growth potential of Edgewater years ago, when we delivered the transformational, four-tower Paraiso Bay community along with Edgewater’s first five-star waterfront restaurant, Amara at Paraiso,” said Nick Perez, President of Related’s Condominium Division. “Edgewater offers it all- prime waterfront views, world-class culinary offerings, and easy access to other key hubs, from the Design District to Miami Beach. This newest acquisition is another step forward in our efforts to solidify the area as a true hot spot.”

“We’re thrilled to announce our acquisition of this premier property in Edgewater,” said Alex Karakhanian of LNDMRK Development. “We look forward to expanding our relationship with Related, who is also our partner on two other nearby projects, The Dorsey and NoMad Residences Wynwood.”

The seller, PPD Edgewater LLC was managed by Esteban Koffsman for the deal, and brokers Joel Rodriguez and Alex Suarez of Global Investment Realty brokered the transaction. LNDMRK Development is a principal based real estate company that primarily focuses on sourcing, acquiring, and developing commercial, residential, and mixed use projects throughout the Southeastern United States. Related and LNDMRK continue to pursue additional joint opportunities throughout South Florida.

FIRST ON PROFILE: Swire Properties Reveals One Island Drive Including 'The Residences at Mandarin Oriental, Miami' Set To Rise Over 800' On Brickell Key

FIRST ON PROFILE: Swire Properties has revealed the first official details of One Island Drive, an unparalleled residential and hospitality destination set within a secluded island sanctuary moments from Miami’s vibrant urban core. Surrounded by waterfront vistas, One Island Drive will be one of the crowning achievements of Swire Properties’ portfolio of world-class properties and is destined to be a defining landmark on the Miami skyline.

Located at the southernmost point of Brickell Key, the exclusive island community that Swire Properties has been developing for over 40 years, One Island Drive will be an oasis of calm, featuring two architecturally spectacular towers. The first tower, consisting of ‘The Residences at Mandarin Oriental, Miami’ and rising to over 800 feet, will feature an exquisite collection of 220 two-to-four-bedroom private homes with expansive floorplans of up to 4,700 square feet and two exclusive duplex penthouses at the top of the building, each spanning over 6,000 square feet. Approximately 400 feet tall, the second tower will feature the next iconic North American Mandarin Oriental hotel with 151 guest rooms along with 61 private Residences and 28 hotel Residences.

“Swire Properties has been headquartered in Miami for over 40 years, and in that time, we are proud to have transformed Brickell Key into one of the most sought-after locations in the city. With One Island Drive, we have taken the last prime waterfront site and created an island sanctuary that will be a destination for connoisseurs of luxurious design, intuitive service, and meticulous craftsmanship. Destined to become Miami’s most coveted condominium address, One Island Drive pairs intricately designed interiors with expansive private outdoor spaces that offer unmatched views of Biscayne Bay and the glittering skyline. With all the glamour and excitement of Miami, including convenient access to the city, One Island Drive offers the ultimate privacy for residents and guests. Surrounded by natural beauty, sparkling waters, and majestic vistas, there is no other location in Miami that provides what we are creating at One Island Drive,” said Henry Bott, President of Swire Properties Inc.

Offering panoramic views of Biscayne Bay, each tower will be connected by an expansive, resort-style podium with over 100,000 square feet of unrivaled amenities including a collection of multi-tiered, landscaped infinity swimming pools blurring the lines between land and sea, private cabanas, executive work lounges, private dining rooms with chef kitchens, world-class restaurants, a signature spa, and state-of-the-art health and wellness facilities. Envisaged as a tropical Eden, the abundance of greenery throughout the development will create a natural canopy of color and texture and feature an extension to the beloved Brickell Key baywalk.

One Island Drive will be a beacon of understated luxury on the waterfront, and a first-of-its-kind collaboration brought to life by an award-winning global design team, each at the forefront of their respective fields. Kohn Pederson Fox Associates (KPF) will envision the bold exterior architecture that will redefine the skyline; Parisian designer Tristan Auer will bring his rich aesthetic vision to The Residences’ interiors; AD 100 and Elle Décor A-List Parisian designer Laura Gonzalez will create the hotel interiors; and renowned Thai firm Shma will lead the landscape architecture. This represents the first new development commission for Auer, Gonzalez and Shma in the United States.

“We are delighted to carry on our longstanding relationship with Swire Properties as we embark on our second iteration of outstanding hospitality within Miami,” said James Riley, CEO Mandarin Oriental Hotel Group. “Twenty-three years ago, Swire and Mandarin Oriental Hotel Group joined forces to open Mandarin Oriental, Miami, forever elevating the level of hospitality in the destination. With One Island Drive we will do it again, offering residents and hotel guests the highest level of service, accommodation, and luxury amenities, all of which are synonymous with the Mandarin Oriental brand.”

One Island Drive will be the first residential property to be built on Brickell Key in the past 15 years and represents the final opportunity to own a new residence on the island. Pricing to start from $3,500,000 when sales launch in late 2023.

Swire Properties has played a leading role in developing the neighborhood of Brickell and has created a new center of gravity in Miami with the development of the $1 billion, 4.9 million square feet, mixed-use development, Brickell City Centre, located across the causeway from One Island Drive.

Renderings via Binyan Studios

Demolition Underway At Future Waterfront Site of Olara In West Palm Beach

Demotion has commenced on the future waterfront site of Olara in West Palm Beach, a luxury condominium tower that overlooks the Intracoastal Waterway. Olara is being developed by Savanna, a vertically integrated real estate investment and development firm with offices in New York and West Palm Beach. Set to transform he waterfront of North Flagler at 1919 North Flagler Drive, Olara will deliver premier condominium residences, 80,000 square feet of exclusive amenities including a private marina and world-class culinary experiences, and an unprecedented lifestyle for sophisticated clientele.

The milestone represents the first steps towards the project’s groundbreaking, which is scheduled for this fall. Construction for Olara will be led by SavCon and Gilbane, with completion slated for 2026. Residences are priced from $2 million with sales and marketing efforts exclusively overseen by Douglas Elliman Development Marketing and branding by King & Partners.

“We’re thrilled to reach this exciting milestone and begin the first phase of construction for Olara,” said Peter Rosenthal, Chief Development Officer of Savanna. “The vision for Olara was to re-invent and re-invigorate West Palm Beach. Between acquiring the property and working with our architect, Arquitectonica, on a modern design, the plans have been years in the making, so seeing the project start to come to life is really special.”

Once completed, Olara will rise 26 stories along the Intracoastal Waterway and feature 275 exceptional two- to four-bedroom plus den residences. Designed by Bernardo Fort-Brescia, founding principal of award-winning architecture firm Arquitectonica, the tower is a waterfront residential oasis with a timeless façade, differentiated by its soft curves and glass terraces that reflect the water before it. With interiors by world-renowned design studio Gabellini Sheppard Associates, the residences at Olara were envisioned to be bright, airy, and filled with abundant natural light through the floor-to-ceiling glass windows. They feature elegant European-style kitchens outfitted with honed Volakas marble countertops and a suite of Gaggenau appliances, as well as spa-inspired bathrooms with dual vanities. The neutral, natural color palette informs the finishes selected for the homes, such as the light oak flooring, white matte lacquer cabinetry, and bronze accents.

The lifestyle at Olara will also be enriched through an impressive 80,000 square feet of indoor and outdoor amenity spaces. Among some of the amenities are a private marina, resort-style swimming pool with private cabanas, world-class fitness center and spa designed by The Wright Fit, and 30,000 square feet dedicated to a restaurant and epicurean marketplace.

“As the sister company of Savanna, also expanding in South Florida, SavCon is proud to be working alongside Glibane to build West Palm Beach’s most desirable waterfront destination,” said Eric Desimone, Chief Executive Officer of SavCon. “We truly believe that Olara is going to change the landscape of the area, and we’re honored to have a role in bringing this project to fruition.”

Situated along North Flagler Drive to offer views of the Intracoastal and Palm Beach Island, Olara will provide an expansive four-acre oasis that’s easily accessible to some of the area’s most coveted dining and shopping destinations. Residents are in within minutes of white-sand beaches, Palm Beach Island, and downtown West Palm Beach’s four retail and entertainment districts: Clematis Street, Rosemary Square, Northwood Village and Antique Row, lined with fashionable boutiques and collectibles. Many cultural institutions surround Olara, such as the Norton Museum of Art, the Ann Norton Sculpture Gardens, and the Kravis Center for the Performing Arts, which regularly hosts Broadway shows, nationally acclaimed theater and dance troupes like the Palm Beach Symphony, the Palm Beach Opera, and the Miami City Ballet.

Olara is sponsored by a Savanna affiliate. Savanna is a proven owner, operator, developer, and institutional fund manager with a 30-year track record, it has invested in and developed over 17 million square feet of real estate. Other affiliated parties include the Mactaggart Family Partnership, which has invested in and developed premier real estate projects in the United States and England for over 100 years, as well as Haymes Investment Company and Brandon Rinker, who assisted in the acquisition of six of the eight parcels within the assemblage that became the Olara development site. Haymes and Rinker served as development consultants as the site was assembled and the development vision was finalized. The principals of Haymes Investment Company have owned, operated and developed millions of square feet of commercial, residential and retail real estate in New York, Florida, and around the United States. Brandon Rinker has assembled some of the premier sites in the Palm Beaches. Brandon is now a principal at Savanna.

Swire Properties and Related Companies Commence Demolition On Future Site of One Brickell City Centre Supertall Office Tower

Swire Properties Inc., the U.S. subsidiary of global developer Swire Properties Limited, and Related Companies, one of the most prominent privately-owned real estate firm in the United States, have officially commenced demolition on the site of the future One Brickell City Centre, an approximately 1,000-foot supertall tower that will be the tallest commercial building in Florida. Miami Mayor Francis X. Suarez, Henry Bott, the President of Swire Properties and Stephen M. Ross, the Chairman and Founder of Related Companies, were in attendance at the event today to celebrate moving forward with this premier office development that validates the tremendous strength of the Miami office market. As part of the program, one of the buildings currently on the site was partially demolished through a stunning display where multiple floors of glass and concrete were carved out of the structure.

One Brickell City Centre will feature 1.4 million total square feet of office space and the largest floorplates ever approved for a commercial office building by the City of Miami. Located in the heart of Miami’s financial district, at the corner of Brickell Avenue and SE 8th Street, it will overlook the Miami skyline offering 360-degree views of Biscayne Bay, Miami River, and Downtown Miami. One Brickell City Centre is the second phase of Brickell City Centre, a $1.05-billion, 4.9-million-square-foot, mixed‐use development that opened in 2016 and was developed by Swire Properties.

“This will be an iconic building that will reshape the Miami skyline, the third-largest skyline in America. It will attract the world’s best talent to Miami. Thank you to Related and Swire, who have doubled down with confidence in the future of our city,” said Miami Mayor Francis X. Suarez.

“One Brickell City Centre is a transformative development that sets the standard for the future of office buildings and showcases to the world’s leading companies that Miami is the new destination to call home. Swire Properties and Related Companies take great pride in collaborating on a truly innovative office development that features thoughtful design, cutting-edge technology and amenities and features that aren't available elsewhere in Miami’s office market,” said Henry Bott, President of Swire Properties Inc.

“Today marks an inflection point in the Miami office market as the workplace of yesterday is torn down to make way for future,” said Stephen M. Ross, Chairman and Founder of Related Companies. “One Brickell City Center combines the best-practices of luxury hospitality and wellness projects with the latest workplace insights to create the flexible, amenity-driven, lifestyle workspace that leading companies, many of them already Related tenants in other markets, are increasingly looking for to fuel collaboration, engagement and retention of top talent.”

Internationally renowned architecture firm Arquitectonica designed the building with the office of the future in mind, with features and amenities ideal for tenants in Miami’s fastest growing sectors including financial services and technology. One Brickell City Centre features thoughtfully envisioned and spacious floor plans, outdoor terraces on nearly every floor, column free interiors, numerous indoor/outdoor spaces for meetings and gatherings, and state-of-the-art technology features to meet the needs of the most discerning office tenants.

One Brickell City Centre marks the first time Swire Properties has collaborated with Related Companies. Both companies share a vision for creating vibrant neighborhoods that change the urban landscape with innovative developments that positively impact communities for generations to come.

Related Companies has extensive experience in Florida and has redeveloped Downtown West Palm into one of the nation’s fastest growing commercial, retail, culinary, art and tourism destinations. Related Southeast leads the market in Class AA office with 360 Rosemary, CityPlace Tower, Esperanté, Phillips Point and the forthcoming 1 Flagler, as well as the celebrated destinations of Rosemary Square, Hilton West Palm Beach, and RH West Palm. Swire Properties has spearheaded the transformation of Miami as well as Brickell’s history and skyline by instilling its core values of quality, integrity, originality and long-term focus to each of its developments, which include Brickell City Centre, the Mandarin Oriental Hotel, EAST Miami hotel and restaurants, as well as the entire island community of Brickell Key.

One Brickell City Centre is situated at the entrance to Brickell City Centre, which is LEED Gold Certified and includes: 500,000 square feet of shopping, culinary and entertainment offerings; the 352 key EAST Miami hotel; the condominium towers Reach & Rise; two additional office towers providing 260,000 square feet of space; the $30 million Climate Ribbon, which promotes sustainability through water conservation and energy efficiency; and a 2,600-space underground parking garage. It can be accessed directly from the I-95 at SW 8th and is in close proximity to many city transit options.

Other supertalls coming to Miami include Waldorf Astoria Hotel & Residences Miami which was recently issued the first vertical construction permit for a supertall in Florida. The tower is nearly sold-out and is being developed by PMG and Grey brook Realty Partners, Mohari Hospitality, S2 Development and global hospitality company Hilton (NYSE: HLT). Another is 888 Brickell, a luxury condo tower at 888 Brickell Avenue being developed by JDS Development which was previously branded as MAJOR in partnership with Major Food Group. Most recently billionaire hedge fund magnate Ken Griffin and his firm Citadel are planning a supertall bayfront mixed use office tower at 1201 Brickell Bay. Related Companies has also been quite active in the Palm Beach office market.

Merrimac Ventures and BH3 Management Join Forces For New Development on Watson Island

BH3 Management and Merrimac Ventures, two of South Florida’s leading development firms, have teamed up to execute the City of Miami’s long-held vision of a thriving destination on Watson Island. The joint venture will draw upon their deep local roots and collective expertise to bring to life 10.7 acres of land on the island, which is one of the most vital properties in South Florida, situated along Biscayne Bay midway between Downtown Miami and Miami Beach.

The BH3 Management and Merrimac Ventures JV acquired the lease from Mehmet Bayraktar’s Flagstone Property Group who first acquired the rights to develop the land via Miami voters in a city-owned land referendum in 2001. Flagstone Property Group was able to complete the Island Gardens Mega-Yacht Marina but failed to complete the proposed mixed-use development which is set to include hotels and retail. The lease then went through a series of dramas including the City Commission voting to end the lease with Flagstone Property Group who used the city and ultimately the city entered an agreement to pay the developer $20 million.

The transaction between the BH3 Management and Merrimac Ventures JV with Flagstone Property Group was brokered by Alex Zylberglait on behalf of Marcus & Millichap and does not include the Island Gardens Mega-Yacht Marina. The Joint Venture now holds the 75-year lease paying $2 million in annual rent to the City of Miami.

Initial site work at the property, including utility and infrastructure improvements, will soon get underway following the transfer of an existing City of Miami lease to BH3 Management and Merrimac Ventures. In the coming months, the development team will be evaluating how this portion of Watson Island can be designed, curated and programmed to deliver public benefits while aligning with today’s market.

Benefiting from a long track record of bringing signature developments to life, the joint venture has deep experience undertaking transformative projects and creating regional destinations. BH3 Management, led by principals Daniel Lebensohn and Gregory Freedman, has developed more than 4 million square feet of commercial real estate including Privé at Island Estates in Aventura, and has deployed in excess of $2 billion of capital since its inception.

“Watson Island is one of the City of Miami’s most important and well-situated properties, yet it’s also one of its most underutilized assets,” said Greg Freedman, Principal at BH3 Management. “For two decades, Miami residents have been anticipating the creation of a mixed-use development at this site, and now that vision will come together. Our plans for Watson Island will deliver an amenity for nearby residents, as well as a destination for visitors from across South Florida and around the world.”

Merrimac Ventures, led by brothers Nitin and Dev Motwani, is currently developing assets valued above $3 billion and its principals have led some of the largest real estate developments in South Florida, including the $4 billion, 27-acre Miami Worldcenter in Downtown Miami; the Four Seasons Fort Lauderdale Hotel and Residences; Paramount-branded condominiums in Miami and Fort Lauderdale; and the Las Olas Riverfront.

“The development of Watson Island is an opportunity to rethink the way people can access this beautiful site, which offers unobstructed vantage points featuring the Downtown Miami skyline, Biscayne Bay, Museum Park, and the cruise ships at PortMiami,” said Nitin Motwani, Principal at Merrimac Ventures. “Miami is synonymous with the water, and yet there are surprisingly few places where residents and visitors can access the waterfront. Our plans for Watson Island will be centered around public space and the site’s bayfront setting, offering some of the best views in all of Miami.”

Miami voters initially approved plans for the privately-funded development of City-owned land on Watson Island back in 2001, and the lease on the property was most recently modified in 2019. A site plan is already approved, combining hotel, retail, and residential uses alongside new public space and a waterfront promenade. While the plan will be modernized, BH3 Management and Merrimac Ventures intend to develop within the same footprint and density allowances that voters previously approved, ushering in investments in quality-of-life, resiliency, and infrastructure improvements – without putting a burden on taxpayers.