Tricera Capital And Merrimac Ventures Close On Society Las Olas Retail Acquisition

Tricera Capital and Merrimac Ventures have acquired the ground-floor retail space within the newly developed Society Las Olas mixed-use project in downtown Fort Lauderdale developed by PMG. The purchase of the prime 301 SW First Ave. space closed on Aug. 27. The venture purchased the retail for $3.8 million, while also acquiring 40 parking spots as part of the transaction.

Society Las Olas is the premier mixed-use project along the revitalized Riverwalk in the heart of downtown Fort Lauderdale. Tricera’s partner, Dev Motwani-led Merrimac Ventures, has been a driving force in the neighborhood’s reemergence. Merrimac acquired the former Las Olas Riverfront complex and brought in PMG to develop Society on a portion of the property before partnering with Tricera to acquire and curate the retail component.

Merrimac also owns the adjacent property and operates the Wharf Fort Lauderdale and Rivertail with Breakwater Hospitality Group. Tricera and Merrimac own a total of ~16,500 square feet of retail at Society, with ~8,500 square feet of prime space still available. Nearly half of the space is already home to numerous first-to-market tenants of national prominence. 

Thompson Hospitality, one of the largest retail food and facilities management companies in the country, is leasing over 6,000 square feet of space that will house the company’s popular Matchbox Restaurant and Big Buns Damn Good Burger Co. After an initial $14 million investment earlier this year, Thompson Hospitality has fully acquired the Matchbox Brand and strategically expanded the concept into emerging markets. Since 2003, the Washington, D.C.-based chain has provided a quintessential neighborhood gathering place for communities.

With 11 locations across the U.S. and more on the way, Matchbox’s menu is centered around fresh, premium ingredients, offering something for everyone, from wood-fired pizzas and mini burgers to simple, yet refined main courses, and a full bar featuring specialty cocktails, local beer and wines from around the globe.

Thompson is also bringing its latest venture, Big Buns Damn Good Burger, to Society. Big Buns is a fun-casual restaurant specializing in burgers, burger bowls, shakes, craft beer and cocktails. The restaurant is inspired by a true love for burgers and beer, and the belief that eating out should feel like a fun backyard party with delicious food, ice-cold drinks and good friends.

Pura Vida Miami, the popular Miami casual health food restaurant, is leasing an ~1,600-square-foot space. Society Las Olas marks the first ever Fort Lauderdale location for Pura Vida, which strives to bring healthy food and a sense of community to each of its South Florida locations.

“Fort Lauderdale continues to offer great opportunities for us to expand our presence in the market,” Tricera Capital Co-Founder and Managing Principal Ben Mandell said. “We are thankful to be able to close this deal mid-pandemic with confidence and plan to continue our efforts in the area.” 

“Bringing these exciting concepts to downtown Fort Lauderdale continues our company – and my family’s – long history of enhancing the city we are fortunate to call home,” Merrimac Ventures President and CEO Dev Motwani said. “The tenants we are securing at Society nicely complement Wharf and Rivertail and will help make this area the focal point of the Riverwalk.”

Step Inside The $20 Million Kobi Karp Designed La Casa Palma Estate In Bay Point

The new construction Kobi Karp-designed spec home Las Casa Palma, with interiors by Borges+Associates, has hit the market for $20 million. La Casa Palma was developed by MV Group and is located at 580 Sabal Palm Road, situated in the private, gated community of Bay Point.

Las Casa Palma sits on a nearly 30,000 square foot waterfront lot and offers an open floor plan and glass sliders for with endless water views of Biscayne Bay. The contemporary estate features of the 6 bedroom, 9 bath residence include a movie theatre, gym, spa, wine cellar, glass elevator, reflection pond and a separate guest house with private entry and sunset deck. The backyard overlooks the Miami Beach skyline and features a lap pool and built in chefs summer kitchen. Las Casa Palma is currently listed for $20,000,000 with Chad Carroll of The Carroll Group at Compass.

Images via The Carroll Group

QUINT Collection Luxury Townhomes Launch Sales in Hollywood Led by Chad Carroll

QUINT Collection Luxury Townhomes in Hollywood have officially launched sales led by Chad Carroll and his team at Compass. Developed by Miami-based JQ Group, QUINT Collection Hollywood is comprised of 10 luxury waterfront townhomes with a private marina and unobstructed views of the Intracoastal and Atlantic Ocean. Nestled between the best of Miami Beach and Fort Lauderdale, QUINT offers the perfect blend of convenience and sophisticated minimalism merged with the ultimate luxury waterfront lifestyle.

“We are proud to see QUINT come to life and are thrilled to be among the few spearheading the transformation of Hollywood,” said Jesús Quintero, CEO and Founder of JQ Group. “Chad Carroll has set the standard for luxury waterfront home sales and his team’s extensive expertise will help complete our journey in delivering an outstanding project to completion.”

“Our team is honored to represent a project with a truly unique value proposition that is unlike any other in Hollywood,” said Carroll. “We continue to see tremendous growth in the area’s luxury market and QUINT is positioned as a one-of-a-kind property. Along with our strategic marketing and expertise in matching buyers with their dream home, we are confident in the project’s success.”

Residences start at $2.5 million and offer 3 bedrooms and 3.5 bathrooms with 10-foot high ceilings. Floor plans range in size from 3,100-3,500 square feet, with terraces up to 10 feet deep and a private 2-car garage. Custom finishes include Italkraft and Gaggenau appliances, porcelain floors, glass enclosed elevator and more. Five-story residences feature a sky deck with summer kitchen, jacuzzi and entertainment area. A residents-only marina includes 12 slips ranging between 55-80 feet with permitting ready to install lift, if desired. A model home designed by Spazio Di Casa that includes Roche Bobois furniture is asking $3.5 million. 

Images via The Carroll Group

For more information about QUINT Collection Luxury Townhomes, private showings or purchasing/ leasing information please fill out the form below:

Aston Martin Residences Miami Reveals New Renderings And Financing Options

G&G Business Developments has revealed new renderings and introduced a unique way of financing their new property at Aston Martin Residences Miami. Created to simplify the buying process, clients can enjoy a special payment plan developed with mortgage broker, Regal Group International.

After reviewing the market for over a year, Germán Coto, CEO of G&G Business Developments, and his team, saw an opportunity to innovate and enhance the buying experience by offering pre-construction deposit financing. This pioneering new program enables clients to finance their property from day one, providing buyers with greater freedom to manage their portfolio of investments and revenues.

“We’re redefining the Miami skyline with the new Aston Martin Residences, and now we’re redefining the way our valued customers can finance their new luxury homes,” says Germán Coto, CEO of G&G Business Developments. “At G&G we have a reputation for pursuing innovative projects with a clear vision to achieve exceptional results and increase customer satisfaction, and this is why we created an innovative financing option.” 

The collaboration between Regal Group International, a trusted name in residential mortgage lending for more than 23 years, and G&G Business Developments, a leading global luxury real estate company, is good news for clients looking for a smart way to finance their new home.

“Buyers have the opportunity to purchase their home with a special long-term payment plan that will provide comfort and a smooth process for prospective clients,” says Juan Ayala, President of Regal Group International. “After the initial payment, the buyer will make equal monthly installments for the Term of the Loan. These installments are fixed from day one of signing the contract and for the full term of the loan. There is no prepayment penalty for the duration of the loan, and the client can cancel or change their lender without being penalized. Additional financing costs and commitment fees are not included and remain the buyer’s responsibility. This new financing plan is one of the first of its kind for a pre-construction luxury development.” 

Regal Group International offers a highly personable approach, working with both parties, the prospective buyer and private investor, to ensure clients are supported throughout the sales process. Responsible for all financial and legal disclosures to the buyer pertaining to this financing, Regal Group International has developed a personalized and straightforward approval process, with a team of expert advisors on hand to ensure a smooth and stress-free transition to a new home at Aston Martin Residences.

Headquartered in Miami, G&G Business Developments was founded by CEO, Germán Coto. As the developer of Aston Martin Residences, the only Aston Martin real estate project in the world, G&G has a reputation for pursuing innovative projects with a clear vision that achieves exceptional results. This new financing offer is just one of the luxury services G&G has developed to make life easier for its high-level clients.

Aston Martin Residences, located at 300 Biscayne Boulevard Way in Miami, consists of 391 luxury residences and penthouses priced from the $970,000s to upwards of $50 million. The project is almost 60% sold, and construction is scheduled for completion in 2022. 

For more information about Aston Martin Residences, private showings or purchasing/ leasing information please fill out the form below:

Tropical Modern Palm Island Spec Home Designed By Choeff Levy Fischman Sells For $20.5 Million

 A tropical modern mansion on Palm Island designed by Choeff Levy Fischman has sold for $20.5 million. Located at 19 Palm Avenue, the two-story home spans 9,386 square-feet complete with a $500,000 custom Fendi kitchen. Dina Goldentayer of Douglas Elliman represented the sellers and Ivan Chorney and Michael Martinera of Compass represented the buyers. Dean Carr, an investor from London, and his wife Melissa Carr, sold the home to a California family.

19 Palm Avenue is one of Miami Beach's most opulent new residences and leaves you in awe the moment you step onto its lavish motor court. Boasting a colossal cascading water feature and British-made automobile rotating turntable, the private driveway also includes an outdoor stairway and a three-car garage with lift capacity concealed by rich Timura wood. The home's exterior façade also features gray limestone to create a warm aesthetic.

The residence offers six bedrooms and seven and a half bathrooms. The home offers large living spaces in an open-concept format that includes floor-to-ceiling sliding glass doors that open up to the rear deck, blending the indoors with the outdoors.

A focal point of 19 Palm Ave. is home's interior is a stunning 460 square foot open-air atrium with floating steps that take you across a shallow pool of water. Additional soul-soothing reflecting ponds and cascading water features are spread throughout the property on all four sides of the residence to emphasize its waterfront location.

The master-suite is another highlight of the home, spanning 1,490 square feet and overlooking Biscayne Bay on one side with the glass atrium on the opposite end. Complete with separate custom Ornare closets with Cavalli wall coverings, the master suite also boasts a midnight kitchen, a sitting lounge, and a fireplace. Two spacious bathrooms feature exotic floor-to-ceiling marble, and each comes with a seamless glass zero-edge spa shower with steam and scent ventilation. One of the master suite bathrooms also includes a bespoke vanity and a standalone floating Boffi tub. Cantilevered wood ceilings shade the room's private balcony, which also consists of a glass railing to provide unobstructed northeastern waterfront views.

19 Palm Ave.’s second level also includes an atrium-facing pajama lounge where the family can relax in a private setting away from the traffic of the ground level. Additional amenities include a fully integrated Savant home automation technology system and one of the largest residential-grade elevators. Located above one of the home's reflecting ponds, it provides access to three levels, including the private rooftop.

Outside, the home's infinity-edge pool is accentuated by a sleek three-sided Lautner knife-edge deck creating a visually seamless plane of water without any distinction of a pool wall. The fourth side creates the illusion that the edge vanishes into the bay. Adjacent to the pool, the architects incorporated a sunken living room element with custom seating that surrounds a fire pit on three sides. The home's outdoor deck incorporates a shaded cabana with separate bath, dining, bar, and kitchen with a spiral staircase that leads up to a rooftop lounge ideal for sunbathing.

Miami-Dade County And Related Urban Development Group Break Ground on Three Round Towers

Miami-Dade County Mayor Carlos A. Gimenez,  Chairwoman Audrey M. Edmonson and Related Urban Development Group (RUDG) have celebrated the ground-breaking of Three Round Towers B&C and Brisas del Este, an affordable housing development encompassing three buildings for a combined total of 383 units in the Allapattah area of Miami-Dade County. They were joined by a special guest on this occasion, the Honorable Dr. Benjamin S. Carson, Secretary for the U.S. Department of Housing and Urban Development.

The Three Round Towers development was originally built in 1970 on approximately 6.98 acres and included three towers (Towers A, B and C), a Community Center and parking for residents. Tower A was substantially renovated in 2018 by Related Urban. The current renovations are focused on the major rehabilitation of Towers B and C along with the construction of Brisas del Este, a new 120-unit affordable housing project. RUDG, the affordable housing arm of prolific developer Related Group, will serve as Miami-Dade County’s developer partner. 

The rehabilitation of the two existing towers and the new construction of Brisas Del Este will result in stylish, well-appointed residences tailor made to serve a primarily senior population through elevated accessibility options. The projects will serve residents from 30% area median income (AMI) up to 80% AMI and will be completed in the beginning of 2022.

“By fully leveraging multiple financing sources, our County is paving the way more for smart projects that create vital affordable housing for our residents,” said Miami-Dade County Mayor Carlos A. Gimenez. “Miami-Dade’s public-private partnership with Related Urban Development Group has been a key component leading to the success of this particular project, and I look forward to the County’s continuing wise use of P3’s moving forward.”

The total development cost for the three buildings is more than $106 million. The layering of financing makes this development the largest of its kind in the nation  utilizing Opportunity Zone Funds ($24 million) in combination with other federal and HUD resources, such as Low-Income Housing Tax Credits (LIHTC), Rental Assistance Demonstration funding (RAD), Home Investment Partnerships (HOME) from the City of Miami, and a Purchase Money Mortgage (PMM) of $18 million from Miami-Dade County to the developer. County and State surtax funds are also being invested in the project. More importantly, the Opportunity Zone investment of $24 million was made by personally by Related Group CEO Jorge M. Peréz.

“The redevelopment of Three Round Towers and the addition of Brisas Del Este leverages the widest range of financing available in affordable housing development,” said Albert Milo, Jr President of RUDG. “It is truly a first-of-its-kind project made possible by our partners at the County, who we have worked with over a dozen times to create transformative affordable housing solutions across Miami-Dade. Through collaborations like this, we are able to continue making a real difference for the residents of the communities we build in.”

“With this project we are proving that Opportunity Zone funding is scalable for major affordable housing developments,” said Michael Liu, Director for Miami-Dade Public Housing and Community Development (PHCD). Liu continued, “With a visionary like Jorge Perez and extraordinary builder in Albert Milo, our plan to transform all of our public housing with private sector partners will succeed.” 

Douglas Elliman Development Marketing Selected To Oversee Sales At 5000 North Ocean in Palm Beach

Douglas Elliman Development Marketing (DEDM) has announced that the firm has been selected to handle the exclusive sales and marketing for The Kolter Group's newly completed oceanfront residential tower, 5000 North Ocean, designed by Randall Stofft Architects and BC Architects, AIA. Chris Cox and Dave Shalkop from Douglas Elliman will be leading sales for the development where residences range from two-to-four bedrooms and are priced from $2.6 million to $5.6 million.

“We are thrilled to bring Chris, Dave and the Douglas Elliman Development Marketing and Real Estate team on board to finish selling out the remaining residences,” said Ed Jahn, senior vice president of Kolter Urban. “Chris and Dave have established themselves as leaders in the Florida market and their extensive experience coupled with Douglas Elliman’s robust and successful development portfolio, will help to ensure the sellout of 5000 North Ocean.” 

5000 North Ocean features the ultimate in privacy and boutique resort-style living with interiors by local renowned Palm Beach designer Bob Martin of The Decorators Unlimited. 5000 Ocean is comprised of 48 residences and the 19-story building is situated on an expansive stretch of direct, pristine Palm Beach oceanfront in Singer Island. There is over 340’ of direct oceanfront with more than half the property remaining as natural habitat or restored dune area.

Each residence features unobstructed Atlantic Ocean views, along with Intracoastal Waterway views to the West, and features floor-to-ceiling glass windows and doors and an expansive outdoor terrace. There are four distinctive floorplans, including four duplex residences and a penthouse known as the Sandcastle which spans 3,907 square feet with 2,407 square feet of oceanfront terrace.

“We continue to see a historic surge in activity in the Palm Beach County market, where the most discerning buyers are looking for the ultimate in luxury and value,” said Jay Phillip Parker, CEO of Douglas Elliman’s Florida Brokerage. “5000 North Ocean is positioned as a one-of-a-kind offering that we are confident will continue to see success as we close out the remaining sales at the project.” 

Amenities include an entry guardhouse with 24/7 attendance, a dramatic port cochere entry, private elevators providing convenient and safe access to all levels, residents club room and adjacent outdoor plaza featuring a full catering kitchen and bar, custom fireplace and lounge area, a state-of-the-art fitness center with the latest high tech exercise equipment overlooking the ocean and pool deck area, an oceanfront pool and spa, private oasis beach zone. The oasis beach zone is a one-of-a-kind seaside sanctuary reserved for 5000 North Ocean residents and individual secured climate-controlled storage areas. Each residence comes with two assigned covered parking spaces, with additional guest parking available and electric car charging spaces.

For more information about 5000 North Ocean, private showings or purchasing/ leasing information please fill out the form below:

Miami's First Large Scale Opportunity Zone Development Tops Off At 18-Stories in Downtown Miami

Co-developers The Estate Companies (EIG) and PTM Partners (PTM) have announced the topping off of the 230,430-square-foot, 18-story, 360-unit luxury rental development, Soleste Grand Central (Soleste Grand). Located at 218 NW 8th Street, steps from MiamiCentral Station in Downtown Miami, Soleste Grand represents Miami’s first large-scale opportunity zone real estate development.

“We are thrilled to have reached this significant construction milestone and look forward to delivering an exceptional development to the Downtown marketplace,” stated Robert Suris, managing principal, The Estate Companies. “Soleste Grand Central offers an elevated collection of health and wellness offerings, social components, and cutting-edge amenities at an attainable price point. We are confident this development will set a new standard for luxury rental properties in the area.”

The contemporary-style building was designed by Caymares Martin with interiors by ASG Interior Design. Apartments range in size from approximately 442 to 1,082 square feet and in studio, one-, two- and three-bedroom layouts. Residences also offer modern kitchens with custom cabinets, quartz countertops and designer lighting. Residences include dual master suites, spacious walk-in closets, private balconies and a full size washer and dryer. 

Soleste Grand offers nearly an acre of unparalleled indoor and outdoor amenity space for tenants to enjoy. For a peaceful retreat, a relaxing drink, or outdoor movie viewing, the ninth floor deck provides open lounge areas and summer kitchens that overlook the downtown Miami skyline. The fourth floor features 20,000 square feet of amenities, including a state-of-the-art fitness center with virtual trainers, dedicated yoga and Pilates room, and areas for high intensity interval training programs. Post-workout, residents can enjoy the resort-style pool deck or indulge at the spa with relaxation rooms, sauna and massage therapy rooms. The indoor club room offers billiards, shuffleboard, a large communal living room and viewing area that can be modified for intimate or large group events. The two-story marble-clad lobby offers a professionally programmed co-working space for residents, communal seating areas surrounded by indoor foliage, and a cafe with flexibility for event use.  

“By combining PTM and The Estate Companies’ deep knowledge and expertise in multifamily development, we have been able to develop a Class-A product that we intend to bring to market at a price point that is accessible to renters who have been priced out of many other recent new Class-A developments in Miami,” stated Michael Tillman, CEO, PTM. “On top of that, we have layered in novel amenity and technology offerings that are unlike others we have seen to date in the Miami marketplace and are excited to deliver a desirable home for our future residents.” 

 “The Estate Companies and PTM have a shared vision for the property and what today’s consumer is looking for,” added Jeffrey Ardizon, principal, The Estate Companies. “We believe we have implemented features our tenants value most. The daily conveniences of technology and large open spaces have gained priority, especially during the last few months.”   

Slated for completion in Q1 2021, Soleste Grand Central is a transit-oriented development. In addition to its close proximity to the MiamiCentral Brightline Station, the community is also near the Metrorail, Metromover, bus lines and soon, the Tri-Rail commuter rail. The project is also situated adjacent to I-95, the multi-billion-dollar Miami World Center, and the Downtown Miami office corridor.  

Billionaire Investor Carl Icahn Officially Relocates Icahn Enterprises From Manhattan To Sunny Isles Beach

Billionaire investor Carl Icahn has reportedly officially finalized the move of Icahn Enterprises from New York City to South Florida. Icahn Enterprises has moved into their 23,463 SF lease on the 12th floor and penthouse of Milton Tower, located at 16690 Collins Ave. in Sunny Isles Beach. The firm previously was located in the General Motors Building in Manhattan. Icahn is the latest ultra high-net-worth investor to relocate his firm from high tax northern-states such as New York to more tax-advantageous states such as Florida.

Milton Tower was completed in March 2020 and was developed by J. Milton & Associates. The office tower spans 102,000 SF, rising 12-floors with 6-floors of parking. Office spaces are customizable and range from 3,000 square feet to 13,900 square feet and feature floor-to-ceiling glass windows offering views of the Atlantic Ocean, Intracoastal and Sunny Isles skyline. Milton Tower offers first-class amenities include 24/7 access and security, a gym, ground-floor cafe, wifi-connected common areas, electric vehicle charging, emergency power, outdoor terraces and parking.

Leasing was launched in 2019 and the building is currently 50% occupied with tenants including family offices, law firms, investment companies and hedge funds. Much like Icahn, there is reportedly strong interest from firms relocating from the Northeast.

PROFILE Exclusive: Developing The Three Pillars Of Metropica With Joseph Kavana

Our first in-person interview and building tour since the COVID-19 shut-down was with Joseph Kavana, developer of $1.5 billion, 65-acre master-planned Metropica project which recently received TCO for its first residential offering, ONE Metropica Residences, design by YOO. Kavana’s vision for Metropica will transform Sunrise, FL with approximately four million square feet of development adjacent to Sawgrass Mills Mall, which is the 11th largest mall in the United States. Metropcia’s masterplan will consist of residential condominiums, apartments, boutique hotels, commercial office space, expansive green spaces and a burgeoning world-class culinary, retail, entertainment and lifestyle experience for residents and visitors to enjoy.

Despite the need for masks and social distancing, we were able to tour ONE Metropica Residences in person with Kavana to see the upscale finishes and attention to detail not-yet seen in Sunrise. While there we discussed the three pillars of Metropica, where Kavana draws his inspiration from as a developer and what is next for South Florida.  

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PROFILE: How did you get into real estate development? What is your background?

Joseph Kavana: I began developing in the 1980’s as a sideline to my Automotive business. We had a sizeable business working with major auto manufacturers and retailers, when I began investing in industrial properties and doing land development in South Florida. In the 1990’s, I participated in the purchase of thousands of rental apartments in Texas. I then moved into the international arena and developed in Punta del Este, Uruguay and Nordelta, Argentina.  I did not begin as a real estate developer, but that certainly became my passion.

PROFILE: When did you start developing in the United States? How is developing in the US different from other countries?

JK: As I mentioned, I began developing select projects in the 1980’s, but moved into the arena on a full-time basis starting in the 1990’s. As to what is different in the U.S. versus other countries, I would have to say that, in the U.S., the pace of development is much faster. There is simply no room for error from beginning to end. You need to have clear and concise planning, knowing that mid-flight adjustments are challenging -- and generally costly.  In other countries, you may have more time to plan and execute. There is more flexibility when it comes to changes and adjustments.

PROFILE: As a developer where do you draw your inspiration from?

JK: I would say it’s a combination of two things. First, you need to look at the land, see a need, and have a specific vision for the area. What is the best use? How do I make this happen? Once you decide, then the inspiration is what you want it to look like, what do you want it to be. It’s a very personal process for me. Once I’ve decided on the best use, I then look at what others have done that will help shape my inspiration. A visit to the ‘best of’ is what I would call it. That process -- part cerebral, part emotional -- is how I draw my inspiration. 

PROFILE: Did you have any mentors that helped shape your life or career?

JK: While I did not have any specific mentors in my industry, my overall mentor was definitely my father. He instilled in me that the way you conduct yourself in life is key. That your word is your bond, far better than any paper or contract you may sign.  He taught me that when you tell someone that you are going to do something, it must be done, no excuses. That has been my personal philosophy throughout my career. 

PROFILE: When did you start building and investing in Sunrise? What was the attraction to the area? 

JK: We originally purchased the land that would become Metropica in 1995.  A couple of years before that, in 1993, we developed a small shopping center on the land that is very close to where Metropica is now.  That was basically the beginning of Sunrise.  Sawgrass Mills opened in the late 1980’s, followed by the very first IKEA in Florida, and that is when we began to see the enormous potential of Sunrise. It evolved quickly, of course, including the construction of what is now the BB&T Center, followed by numerous, large corporate entities moving into the area -- such as AMEX, which has established a significant presence in the city.  Sunrise had land, access to major thoroughfares, and all within minutes of downtown Ft. Lauderdale and a short drive from Miami-Dade.  As the area evolved, what was missing also became clear, and that became the vision for Metropica. 

PROFILE: Where did the concept for the Metropica master plan come from?

JK: Once we realized what was missing in the area, we decided to build a multi-use community, which, in my mind, is different from a traditional mixed-use community.  We wanted to build something that would specifically fit the needs of the evolving area. The key was in the residential. We wanted tenants to be able to experience city-center life, but still maintain the benefits of a suburban experience. To us, it meant creating some separation between the residential, retail, and office space components – hence, multi-use versus traditional mixed-use. Everything was close by, but they were still separate components…no retail at the ground floor of residential, for example. Once we came to that conclusion, we then set out to see who had built in a similar manner.  What we found were developments around the country that had elements of what we wanted, so we took best-practices from that and melded the different pieces together.  And as life would have it, in an era of COVID, our masterplan offers a best-of-all-worlds scenario for our residents – key benefits of city-center living, coupled with access to larger spaces and nature that would not be possible in a true urban location.

PROFILE: What are the 3 pillars of Metropica and what are residents buying into?

JK: The three pillars are happiness, nature and wellness. The most important is happiness, with the other two playing into that concept. People want to be happy, which was already increasingly challenging, even before COVID.  The residential component is key. That is why we built the initial residential tower first. If we can help people be happy where they live, then we’ve accomplished a wonderful feat. We believe that everything built within Metropica should contribute to people’s happiness. The other two pillars support that. Access to nature is a key component of happiness. People crave that. That’s why the residential tower has wonderful view corridors of the Everglades and of the Central Park which will be part of our community. The third pillar, wellness, will be realized through our walking trails, bicycle paths, and all of the amenities that are part of Metropica, such as tennis courts, a spa, pool, and, eventually, an entire wellness center. Every Metropica buyer I have spoken with truly values our three pillars and appreciates the effort we have made to achieve those goals. 

PROFILE: Why did you elect to build ONE Metropica Residences first? What are some of the features that make the building unique?

JK: We began with the initial residential tower instead of any other component because we firmly believe that the lifestyle component we are looking to achieve begins with residential.  All other facets of Metropica will stem from residential. To that end, we went to Chad Oppenheim of Oppenheim Architecture + Design. Chad is globally recognized for socially and environmentally conscious architecture. He’s an incredibly selective individual, so we were very pleased with his ability to capture our vision for Metropica as a whole, and specifically for ONE Metropica, since that building was going to set the tone for the rest of the development. We coupled Oppenheim’s expertise with YOO Design Studio, and their combined skillsets allowed us to develop a building that is a true masterpiece. It has exceeded even our greatest expectations. The design and attention to detail is impeccable.  The building’s common areas are exemplary. From literally the ground-up, the building has set a standard for the area that will be revolutionizing high-rise living in the suburban market.

PROFILE: You mentioned that you have worked with Yoo Design Studio in the past, how did the relationship develop?

JK: This is actually our fourth project with YOO Design. Our first project with them was in Punta del Este in Uruguay and then Nordelta, adjacent to Buenos Aires, Argentina. We then worked with them in Atlanta and developed YOO at The Park, a high-end rental and now Metropica.   

PROFILE: How did you decide on Oppenheim for the architecture of ONE Metropica Residences? Will he be involved in the rest of the Metropica masterplan?

JK: As I mentioned, he has a well-established reputation, and we found a common vision for openness in the design. Oppenheim was involved with the master plan and the residential component of Metropica and of course, the first building. Once he saw the land and had an understanding for what was “missing” in the area, Metropica began to take on a life of its own. Chad’s (Oppenheim) vision was instrumental in the development of what is now one of the largest under-construction mixed-use communities in the nation.  

PROFILE: Where do you see the future of South Florida development? What does the South Florida metro-area lack?

JK: I am extremely bullish about the future of South Florida development. We are very fortunate to have one of the last large parcels of land (60+ acres), which is allowing us a truly unique vision. But I see a number of land assemblages where good developers are re-purposing outdated properties and bringing new life to an area.  When one looks at the many advantages of Florida, from weather to tax-friendliness, it is no surprise that our net-migration is almost 1,000 per day -- with a significant percentage to South Florida. There is no other place in the world I would rather live, and in spite of COVID, our future is extremely bright. 

PROFILE: Any last words?

JK: I think it is important to acknowledge the municipality of Sunrise and its leadership for the manner in which they have nurtured the area’s growth.  So many large companies now call Sunrise home. We used to call this area a ‘hidden gem,’ but it is no longer hidden. This is a special place.