Resorts World Moves 1-Step Closer To Reality, Submits Replat To Redevelop Bus Terminal

Resorts World has moved another step closer to becoming a reality after submitting their proposed replat of Awana Forest to Miami City Planners. The replat includes the county bus terminal with the Adrienne Arsht MetroMover, which Resorts World previously won county approval to redevelop in March of this year (2017). Their proposal includes redeveloping the terminal in conjunction with retail space and a 36-story, Arquitectonica-designed residential hotel tower. The hotel tower will feature 300 hotel rooms and an unspecified number of residential apartment or condo units. The project is being developed by Resorts World Miami LLC with a total cost projected to be $200 million. 

PARAMOUNT Miami WorldCenter Reveals Collection of Ultra-Luxury Poolside Cabanas

PARAMOUNT Miami WorldCenter has revealed their luxurious poolside cabanas which will be one of the staples of their amenity deck, which will be the largest amenity deck in the United States. Cabanas will start at $295,000 and will range up to $350,000. There will be 26 cabanas in all which are located on the main amenity deck, 90' above ground level. Cabanas will be 227 SF each and will feature air conditioning, entertainment area, bar, bathroom, shower and rooftop terrace.   

"There is nothing else like this in the world. We have created the only poolside bungalows in Downtown Miami to take your residential experience to the next level," said Dan Kodsi, the developer behind PARAMOUNT Miami WorldCenter.

In all, PARAMOUNT Worldcenter features more than 40 amenities including resort style pool complete with floating pods, tennis courts, soccer pitch, boxing studio, basketball court, golf simulator, state-of-the-art fitness center, Sky Observatory, Tai Chi deck, and a rooftop entertainment deck 60 stories above the Miami skyline.

Read our PROFILE Exclusive Interview with Dan Kodsi, developer of PARAMOUNT Miami WorldCenter.

Check-out the unveiling of PARAMOUNT Miami WorldCenter's Penthouse Collection of 26 exclusive luxury residences. 

G&G Business Developments Officially Breaks Ground on Aston Martin Residences On The Miami River

G&G Business Developments alongside Aston Martin, officially broke ground on Aston Martin Residences at 300 Biscayne Boulevard Way on October 18, 2017. Aston Martin Residences is designed by BMA & Revuelta Architecture and will rise 66-stories, featuring 391 condominium units. Coastal Construction Group is the general contractor on the project.

“Aston Martin is on a growth trajectory globally and across the United States. Our partnership with G&G Business Developments to create Aston Martin Residences Miami, forms an important part of that growth story and of our desire to bring our brand to new audiences across the world,” said Simon Sproule, Aston Martin Vice President and Chief Marketing Officer

“In October 2016 we announced the partnership with Aston Martin and our plan to break ground in October 2017. Exactly one year later we are here to celebrate the start of construction which is confirmation of our commitment to follow our own strict timeline. This development has been extremely well received, in part due to the unique offer but also due to the outstanding job our official broker Cervera is doing. I am confident we will deliver on our promise to create the ultimate residential tower and I’m looking forward to admiring the view from the top of this special building when it is complete,” said German Coto, CEO of G&G Business Developments. “The success of this collaboration is a testament to the team work, mutual trust and dedication of everyone involved, both at G&G and Aston Martin.”

The tower's interiors will feature signature carbon fibre reception desks in each of the tower’s two private lobbies, lighting and handmade detail based on the car, and residence doors hand-adorned door numbers from the same jewelers that place the logo on the hood of Aston Martin cars along with bespoke artisan Aston Martin door handles, and kestral tan leather door tabs. The tower's design will features floor-to-ceiling glass with no visible concrete, including glass encased support beams. Units range from 1 to 4 bedrooms with a 19,000 SF, 6 bedroom crown-jewel penthouse on the 63-65 floors. Pricing starts at $600,000 and range up to $7,000,000 for the "River and Panoramic Residences" part of the building and $14,000,000 to $35,000,000 for the "Penthouses." Amenities include a 42,000 SF “Sky Amenity” deck which features a state-of-the-art fitness center with spin room and boxing facilities, golf simulator, multiple theaters, and a curated art gallery. Sales have passed over $100 million in deposits since the on-site Sales Gallery opened in early July (2017). Aston Martin Residences is expected to be completed in 2021. 

Greybrook Realty Partners and PMG Unveil Initial Renderings of 400 Biscayne

Just days after PROFILEmiami reported that the Toronto-based Greybrook Realty Partners had invested $32.2 million to fund the acquisition of 400 Biscayne Boulevard, the developer has released initial renderings for the project. Greybrook Realty Partners will develop 400 Biscayne in partnership with Property Markets Group, PMG. The developers plan to build 690 residential rental units which will be targeted at millennials and students of Miami-Dade College, with an additional 20,000 SF of commercial space. The residential tower will also feature keyless entry and other smart-home technology, a co-working space with an integrated library and business center, restaurants and retail shops, Wi-Fi access throughout the building, an a fitness center with a swimming pool, spa and yoga studio. 400 Biscayne is located adjacent to Bayside Marketplace, Bayfront Park, Miami WorldCenter and American Airlines Arena. With the completion of MiamiCentral, residents will have easy access to public transit, including the Brightline intercity rail system and MetroMover. 

“We are thrilled to partner once again with PMG on our third investment offering in the South Florida market,” states Peter Politis, CEO of Greybrook Realty Partners. “The region is experiencing a shortage of high-quality rental inventory as supply is unable to meet the growing demand for rental accommodation. We believe that 400 Biscayne will provide an attractive rental offering featuring luxury amenities and efficient floorplans that are well-suited to millennials and students of the nearby Miami Dade College (which does not provide housing facilities for local or international students due to lack of available land nearby).”

Greybrook Realty Partners Invests $32.2 Million To Acquire 400 Biscayne Boulevard

Greybrook Realty Partners, from Toronto, has invested $32.2 million to fund the acquisition of 400 Biscayne Boulevard, which they will develop in partnership with Property Markets Group, PMG. The developers plan to build 690 residential units which will be targeted at millennials and students of Miami-Dade College, with an additional 20,000 SF of commercial space. The residential tower will also feature keyless entry and other smart-home technology, a co-working space with an integrated library and business center, restaurants and retail shops, Wi-Fi access throughout the building, an a fitness center with a swimming pool, spa and yoga studio. Greybrook Realty Partners and PMG are also developing 300 Biscayne Boulevard. The Real Deal reported in July 2017 that PMG had 400 Biscayne Boulevard under contract for $53.6 million. 

Judge Dismisses Lawsuit Against Miami-Dade County Challenging Land Sale To Miami Beckham United

Miami-Dade Circuit Court Judge Rodolfo Ruiz has dismissed a lawsuit against Miami-Dade County, challenging the future use of Overtown land sold to Beckham and partners on the basis of its acquisition. The suit was filed by disgruntled local activist Bruce Matheson to stop a $9 million sale of 3 acres as part of the assemblage, which was sold based on the state of Florida's Economic-Development Law as a no-bid sale and was never offered to other buyers. Miami-Dade County lawyers argued that Florida's economic development law protects the county and its taxpayers by giving municipalities the authority to sell property if the sale benefits the local economy. As part of the deal Beckham must commit $175 million to stadium construction. Ruiz expects his ruling to be appealed. Last month we reported that David Beckham and his partners made a $450,000 downpayment to Miami-Dade ahead of their September 10th deadline to complete the purchase of the final 3 acres of the 9 acre Overtown assemblage.

Stantec Releases New Renderings of Park-Line Miami and Park-Line West Palm Beach

Park-Line Miami and Park-Line West Palm Beach have released new renderings of their future lobbies designed by Stantec. Both Park-Line branded residential projects are located next to the All Aboard Florida Brightline Train Stations, helping further connect the South Florida city centers and allowing residents to seamlessly travel between Miami, Fort Lauderdale and West Palm Beach. Park-Line Miami was designed with a “the timeless traveler," featuring rich leathers inspired by antique luggage and travel bags, warm woods, creamy neutral tones, and deep blues are incorporated to create a sophisticated and inviting environment. Stantec will also design Park-Line Miami’s residential units, and amenity deck, which will feature a yoga pavilion, dog park, running track, movie screening area, and a resort-style pool. The twin towers located in MiamiCentral have just begun vertical construction. Park-Line West Palm Beach's design will feature tones of rich purple complemented by warmer tones of yellow and a dripping diamond tile wall that gradients from purple to gold and silver tones. Amenities at Park-Line West Palm Beach will feature a game room, dog park, and dog spa. Bother towers are under development by Florida East Coast Industries (FECI). Park-Line West Palm Beach is expected to be completed in 2018 and Park-Line Miami is expected to be completed in 2019. 

“The All Aboard Florida train and the residential towers are monumental in transforming the lives of commuters in South Florida,” said Susan LaFleur, director of hospitality and residential interiors for Stantec’s Miami office. “Our goal is to create a welcoming feeling for residents by implementing rich design and timeless sophistication.”

PROFILE Exclusive: Energizing Miami's New Arts + Entertainment District With The Skyline Changing CANVAS

PROFILEmiami had the exclusive opportunity to sit down with Ron Gottesmann and Nir Shoshani, founders of NR Investments and the masterminds behind CANVAS as well as Miami's new, burgeoning Arts + Entertainment District. Get inside the neighborhood changing developers' minds as they discuss how CANVAS came to reality, what drives the Arts + Entertainment District forward, bridging art and lifestyle within a residential community, and how they brought life and vibrancy to a dilapidated area in the heart of Downtown Miami. 

PM: This area was completely flat, there wasn’t any development in the A + E District, when you guys got here, what did you find and how did you get the land

Ron: We built Filling Station Lofts, and after we completed that project, we created CANVAS. Prior to that, we looked at everything happening around us and decided we wanted to do something different… so we started the Arts + Entertainment District, which was formerly the Omni District.

Nir: When we talked about forming the Arts + Entertainment District, before Filling Station Lofts, there wasn’t much in the area. Our idea was to create an urban village. One essential component was public transportation. Fortunately, that feature was already in place – a MetroMover station – but it was underutilized. Another was density. We needed to create density, which, in turn, would create energy. And another component was mixed-use retail. Ron and I took our time picking the right people to help us build that energy… all of which was necessary to bring people to the area. This wasn’t a renaissance… it was a ground-up effort. Virtually nothing existed within these 16 blocks.

Ron: This is a true story: We took some people from our company on a fishing trip to the Tropic Star Lodge in Panama. One evening, we were sitting around a table and there were some guests nearby from New York. They asked us where we were from and we said Miami; so they said, ‘you have to go this cool place,’ and they started showing us photos of Filling Station Lofts and the rooftop. All of us looked at each other and we were in shock. We said, ‘you know what, we did it!’ This was a validation of what we had built. It was our dream to create a concept and connect it to the community. Even through the Miami Flea, we have given residents who live in Filling Station Lofts the opportunity to further their own businesses. That’s why we started the event -- to give people who actually live in Filling Station a platform to grow their businesses and achieve recognition.

Nir: To date, we have hosted more than 180 public events in an effort to further the growth of the District. I think that’s been one of the most important aspects of creating a genuine community…and through a very holistic approach.

PM: So you guys decided to build condos because you already had the rentals via Filling Station. Did people demand for condos or did you guys do your own market research?

Ron: It was a dream. It was a vision. At the end of the day, we wanted to develop something affordable – something that was luxury but not too expensive. We also wanted to maintain Fannie Mae approval, which prevents selling to bulk buyers.  In the beginning, we were approached to sell in bulk, but we didn’t. Fannie Mae approval creates a healthy project…and when it comes to delivery, people can really buy and finance with 5% down on their units. This was our intention from day one.

Nir: From the get-go, CANVAS has been an end-user product. We’d like it to be a place where families and professionals will be able to fulfill the American dream.

PM: We discussed that the clientele who likes the Arts + Entertainment District, design and style may not like real estate business and developers, where do you see a lot of your buyers coming from? Are they investors looking for rental units or end users?

Ron: It’s a mix of people. We have investors, we have end-users, we have domestic buyers, we have foreigners who come here to study. The area itself is such a unique location…one that’s close to Miami Beach, the University of Miami, Miami International Airport, etc. -- so you find yourself in a place where you can easily be mobile. In the past, this was the Omni District.  We succeeded in changing the branding to the Arts + Entertainment District. That was the first stage. Then came the push to sell to people who really wanted to use it. The majority were end-user buyers. We never pitched or sold units as rental opportunities or promised returns. We don’t believe in selling something we cannot commit to. Quality product, amenities, connectivity between people…that’s what we’re looking to create and provide.

Nir: Although I dislike the word, it’s about “lifestyle.” We see this area as offering the urban community lifestyle, not the South Beach lifestyle. We are stressing that in our amenity deck…we are stressing that in the joint activity offerings through the gym, the racquetball courts, etc.  We want our residents to connect through these features.

Ron: Not only that, but also with retail. We believe that retail shapes an area. For that reason, we are paying a great deal of attention to the retail space… and we aren’t rushing into the maximum rent per square-foot. We want to preserve and build the community. We are not looking for the top restaurant… we are looking for the restaurant that can serve the neighborhood – grocers and other retailers that will connect with the community.

PM: CANVAS will feature art installations throughout, etc. How did this idea evolve?

Nir: I think it’s very much part of what we are about. It’s another key element.  All of these individual aspects are not “THE” factor that will make the project a success… they make up the entire package. The first similar experience we had with an art installation of such magnitude was within Filling Station Lofts, where we decided to work with Wynwood-based muralist Daniel “Krave” Fila, along with seven local artists, and create small, original works of art in the lobby.  We subsequently saw a huge demand. So in CANVAS, we decided to scale up, going from framed works to murals. We will therefore have 27 residential floors in the building with original curated murals on every one.

Ron: We decided to bring Wynwood into the building, but in a classic way. We implemented something similar in the Filling Station Lofts; and therefore, I think we have proven that it can be done successfully. The building is unique and the response has been phenomenal.

PM: When the buyer closes on the unit and you give them the keys, what is one feature in the building or their newly purchased unit that will stand out and make them happy they bought here?

Ron: Everything. Absolutely everything from A to Z. We don’t cut corners. When the clients move in, they will get everything ready to go. The only thing they’ll need to bring with them will be their shirt and their furniture. The amenities are there, the retail is there, and the community is there.  

PM: What does CANVAS mean to the Arts + Entertainment District and to the city of Miami?

Nir: For me, CANVAS is the first milestone in the District – one that will bring more people to the area and subsequently create even more energy around us. Architecture is important. Structure is important… and that is what we have worked to do with CANVAS.

Ron: I think it’s the next phase in the continuation of building up this area and the District. People are in love with the community. It’s a place that residents will be proud to call home.

About Nir Shoshani, Ron Gottesmann & NR Investments:

NRI is a privately held real estate investment company with focus on commercial and residential real estate co-founded by Nir Shoshani and Ron Gottesmann. NR Investments is built upon the belief that small investments in communities and local culture result in large returns in real estate value. NR Investments has completed neighborhood changing projects across South Florida, including Filling Station Lofts, and Lima, Peru. Prior to forming NRI in 2001, Nir Shoshani was president at TiS America, Inc. a subsidiary of Top Image Systems Ltd. (NASDAQ: TiSA), a publicly traded, high-tech firm headquartered in Israel with operations around the globe. Mr. Shoshani is a graduate of the Belgrano School of Business in Buenos Aires. Co-founder Ron Gottesmann was a former mortgage banker who oversaw the operation of the Miami branch of GFI Mortgage Bankers Inc. of New York. Today, NRI is a fully integrated developer, owner and manager of real estate, with holdings that include large-scale office buildings, commercial shopping centers and multi-family housing.

G&G Business Development Announces Aston Martin Residences to Break Ground October 18

Aston Martin Residences at 300 Biscayne Boulevard Way, under development by G&G Business Development, has announced that they will break ground on October 18, 2017. The news follows last month's announcement that G&G Business Development had filed a Notice of Commencement with Miami-Dade County. Aston Martin Residences is designed by BMA & Revuelta Architecture and will rise 66-stories, featuring 391 condominium units. Amenities include a 42,000 SF “Sky Amenity” deck which features a state-of-the-art fitness center with spin room and boxing facilities, golf simulator, multiple theaters, and a curated art gallery. Sales have passed over $100 million in deposits since the on-site Sales Gallery opened in early July (2017). Construction is expected to be completed in 2021. Check-out the most recent group of renderings that were released earlier this summer.

Okan Group Proposes The Sterling, A Mixed-Use, Behar Font-Designed Downtown Hotel Tower

Turkish developer Okan Group has proposed a 73-story hotel project inspired by a tulip in Downtown Miami. The project is being dubbed The Sterling (although renderings show Okan Tower) and is located at 555 N. Miami Avenue. The Sterling will feature 300 hotel rooms, 80,000 SF of office space, 10,000 SF of restaurant space and 362 condominium units. The tower is expected to rise 956' and is designed by Behar Font & Partners. Miami’s Urban Development Review Board is expected to review the plans this month (October 2017). Okan Group acquired the land for $18 million in March 2017.