HFZ Cancels Fasano Residences Miami Beach At The Shore Club Hotel

HFZ Capital Group has canceled the Fasano Residences Miami Beach, a 67-unit luxury condo project planned for the Shore Club Hotel property, which is currently managed by Morgans Hotel Group and owned by HFZ Capital Group. HFZ is currently in the process of returning deposits to buyers and began alerting their clients on Friday (10/2717) of the news. The project had sold 35-30 units, roughly 40%-45% of the project. The delayed closure of the Shore Club Hotel, which continued to take reservations into 2018, had caused confusion amongst buyers as had the rumored withdrawal of the Fasano brand, the luxurious Brazilian hospitality moniker. No construction permits had been filed and the developer reported that the market for construction financing on Miami Beach had dried out. HFZ Capital Group via the entity Shore Club Property Owner LLC purchased the Shore Club for $175.3 million in 2013 and planned to convert the 309-key hotel into a 85-key hotel with 67-condos under the watchful eye of Brazilian Architect Isay Weinfeld. The project would have been the first Fasano branded project in the United States, which has 4 hotels and 15 restaurants under management. 

Laure Tirouflet and Jose Carlo-Designed Boutique Hotel Approved on Indian Creek Drive in North Beach

The City of Miami Beach’s Design Review Board and Planning Board approved a newly proposed hotel to rise at 7128 Indian Creek Drive in North Beach. The hotel will be developed by IC Property Capital Corp and is being designed by Miami Beach-based architects Laure Tirouflet and Jose Carlo. The hotel will be built with "future street raising in mind" and the design includes 16-hotel rooms, underground parking, a rooftop pool deck, and graphic mosaic pattern on the front façade masking the garage and architectural treatments running along the spine of the elevator shaft. The community has an upcoming ballot in which Miami Beach voters will have the chance to approve or strike down the master plan to reenergize North Beach with a new downtown from 71st Street between Collins Avenue and Indian Creek Drive. 

“This is the type of beautifully designed, boutique hotel that people have been waiting to see in North Beach and dovetails nicely with the community’s Master Plan vision for this area,” said Greenberg Traurig Miami Real Estate Shareholder Ethan B. Wasserman, who represented IC Capital before the board. “Its location is ideal: in the Town Corridor just north of 71st Street and within walking distance of the ocean and park, as well as the local commercial sector that includes restaurants and other venues.”

Habitat Development Releases New Renderings of Smart Brickell Condo-Hotel

Habitat Development's planned condo-hotel Smart Brickell, designed by Hernando Carrilo, has released new renderings as the project gears up to break ground. Smart Brickell is located in West Brickell and is expected to break ground in the spring of 2018. The project will feature 3 towers with 170 condo residences and 150 hotel rooms. Condo pricing starts at $290,000 and ranges up to $490,000 while condo units size starts at 558 SF and ranges up to 878 SF. Smart features include Nest thermostats, Lifx Wi-Fi-enabled LED smart bulbs, Samsung’s digital home appliances, and a concierge app. Sales launched in phases and the first condo tower is now 35% sold with sales for the second condo tower expected to launch in Q1 2018. Smart Brickell is targeting a 2020 completion. 

“Our goal is to develop a new Brickell for a new generation,” said Santiago Vanegas, President of Habitat Development. “We want to lead the pack for futuristic living in Miami. Combining the elements of Smart Design, Smart Technology and Smart Use, we are providing a Smart solution to residents and guests in Miami. Everybody wants to be Smart.”

Check-Out The Zyscovich Architects-Designed Proposal To Redevelop The Shops at Sunset Place

A Zyscovich Architects-designed proposal to redevelop the Shops at Sunset Place is under review by the City of South Miami's Special Planning Board. The developers goal is to reenergize the existing, aging, Shops at Sunset Place into a lively mixed-use, urban district. The proposal calls for the addition of a "substantial residential component" including a hotel, restaurants, retail, offices and outdoor parks/gardens. Among the residential towers include a 17-story hotel with 182 hotel rooms, and two 14-story residential rental buildings with 442 units total. The first phase of the project would include demolishing and rebuilding large sections of the existing shopping center to update it with a more up-to-date, modern design. The second phase is to add a "true resident population." The redevelopment is being designed by Zyscovich Architects and Developed by Federal Realty, Grass River Realty and Comras Company.

Driftwood Acquisitions and Development Breaks Ground on Canopy by Hilton West Palm Beach

Driftwood Acquisitions and Development (DAD) officially broke ground on their new 150-room Canopy by Hilton West Palm Beach. The project, located at 704 S. Dixie Highway, marks the first hotel project in Palm Beach County for the Coral Gables-based firm. The hotel will be located 2 blocks away from City Place, Downtown West Palm Beach's retail, dining and entertainment hub. Canopy by Hilton West Palm Beach will rise 14-stories and feature 150 hotel rooms, 5,000 SF of event space, fitness center, 2 full-service restaurants and rooftop swimming pool. Driftwood Acquisitions and Development financed construction with a $27.7 million loan from First American as well as an additional $19 million that was raised via foreign investors through the Federal EB-5 Visa Program. The Canopy brand launched in October 2014 with a concept focusing on energizing neighborhoods by incorporating local design and food elements into each unique location. The first Canopy location in North American was Canopy by hilton Washington DC The Wharf. Construction on Canopy by Hilton West Palm Beach is expected to be completed by Q1 2019.  

“West Palm Beach is a lively and entertaining area for all ages, and we are confident that this thriving neighborhood is the perfect fit for the Canopy brand. We’ve always wanted a hotel that was close to our management headquarters and we are now living that dream,” said Carlos Rodriguez, CEO of DAD, an affiliate of North Palm Beach-based Driftwood Hospitality Management.

HES Group Secures Loan $9.5 Million Loan For Triptych Hotel in Midtown

HES Group has secured a $9.5 million loan for Triptych Hotel, in Midtown Miami, adjacent to Miami Design District. The loan was provided by a Panama-based lender 21 Brands S.A. Triptych Hotel was approved earlier this year, after HES Group sold JQ Group shares in the project for undisclosed terms. Previously it was reported that HES Group was looking for $120 million in construciton financing. The plans feature 20-story mixed-use tower with 252-hotel rooms, 38,000 SF of retail, 41,000 SF of office space, and 300 parking spots. The hotel will be operated as part of Hilton Worldwide's Curio Collection. HES Group, which is managed by Francisco Arocha, purchased the site for $12.25 million in 2014 under the affiliate-entity Aventura Hotel Properties, LLC. HES Group also owns and manages Aloft West Palm Beach and Hotel Indigo in Brickell. 

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. 

TAMZ Oversees Refreshed Branding For The Grand Beach Hotel Miami Beach

Miami-based real estate media and branding powerhouse TAMZ has refreshed the brand identity of the Grand Beach Hotel Miami Beach, located at 4835 Collins Avenue, Miami Beach. The Grand Beach Hotel Miami Beach was originally built in 2009 and underwent at $10 million renovation in 2015. The hotel sits on 200' of beachfront and offers the highest levels of luxury, amenities and comfort. Amenities include 2 heated Jacuzzi‘s, fitness center with panoramic sunset views, and 3 swimming pools including 2 beach level family pools and a rooftop adults only tranquility pool. Suites include marble bathrooms, private balconies and panoramic ocean, bay and/ or city views. There is also a Grand Beach Hotel located in Surfside.  

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.

CitizenM Hotels Continues Splash in Miami, Buys Perricone's Marketplace Site in Brickell

Last week we reported that Crescent Heights is aiming to bring a CitizenM Hotel to 1212 Lincoln Road on Miami Beach. CitizenM continues to make a splash in Miami as they have purchased the Perricone's site via the entity CitizenM Miami Brickell Properties at 15 SE 10th St next to Allen Morris Park for $16.18 million. The development site is 10,965 SF and the deal reportedly includes a leaseback. It is also reported that Perricone's may open a new restaurant in the new hotel when completed. The hotel would further urbanize the fast-growing Brickell neighborhood which features Brickell Flatiron adjacent to the property, in addition to the new Brickell City Centre, Brickell Heights, SLS LUX (opening December 2017), amongst others.