ROVR Development Gearing Up To Break Ground On Grand Station Tower In Downtown Miami This Year

ROVR Development, led by Oscar Rodriguez and Ricardo Vadia, is gearing up to break ground on Grand Station Tower at 40 NW 3rd Street in Downtown Miami after first applying for construction permits in March 2018. Grand Station will rise 31-stories, 322’, and will feature 300 apartment residences and 5,000 SF of retail. The project will also expand the Courthouse Center Garage with an additional 350 parking spaces and the tower will rise over the newly built portion. The developers have set-up Grand Station Partners and plan to launch a public-private partnership with Miami Parking Authority. The project is expected to cost $70 million to develop with Ortega Construction as the general contractor. Grand Station Partners has a 99-year land lease on the site with an option to extend an additional 50 years.

The Perkins + Will-Designed Kenect Miami Revealed At Miami Worldcenter

The Chicago-based Akara Partners has revealed their plans for Kenect Miami at Miami Worldcenter. The Perkins + Will and Stantec-designed tower will feature two towers, one rising 39-stories, 410’, and a second rising 79-stories, 810’. The 39-story tower will be built first and will feature micro-units with a unit count of 450 residences and 436,258 SF of total development. The 79-story tower will feature 468 larger units. In total Kenect Miami will bring 918 residential units, 16,000 SF of retail and 1,100,000 SF of floor area. The property will also feature landscape architecture by Savino & Miller Design Studio. The proposal is currently submitted to Miami’s Urban Development Review Board.

The Choeff Levy Fischman-Designed 224 Bal Bay Drive Breaks Records In Bal Harbour With $24 Million Sale

224 Bal Bay Drive has closed for $24 million after being listed on February 8, 2019 for $24.95 million with Dina Goldentayer of Douglas Elliman. The home was on the market less than 5 months before closing to an undisclosed buyer represented by Sandra Debuire of Coldwell Banker. This represents the highest sale ever recorded in Bal Harbour, Florida for a single-family home, 182 Bal Bay Drive previously held the record when closed for $17.5M in 2013.

Designed by award-winning architects, Choeff Levy Fischman, with interiors by designer Deborah Wecselman, the 11,700 SF modern home has 100’ of water frontage and unique to the area, a 1,433 SF rooftop space that is solar-panel ready.

The luxurious home features 8 bedrooms and 9 bathrooms along with a media room, lounge, multi-purpose room, a master bedroom suite with two large terraces and on one of the terraces, its own outdoor shower, a large indoor gym, elevator and 50’ infinity-edge lap pool with bright blue mosaic tile overflows into a reflective pond and connects to a smaller shallow splash pool. Lush landscape surrounds a covered terrace with firepit, reflecting ponds, floating stepping stones, and an outdoor dining area, with full kitchen and a cabana bath. The roof is also an ideal space for entertaining, and has been designed to include an elevated wooden deck, a custom built-in bar with tropical wood finish and custom built-in seating.

Lil Pump Drops $4.6 Million On LF Development's 1510 Bay Drive On Miami Beach

Rapper Lil Pump has dropped $4.89 million on LF Development’s project at 1510 Bay Dr. Miami Beach, FL which was completed in April and listed with Luis Dominguez and Karl Hueck of Douglas Elliman. According to the deed filed last Wednesday, Gazzy Garcia also known as rapper “Lil Pump” known for his “Gucci Gang” song is the buyer of the Miami Beach home represented by Luisa Taylor of The Agency Collective. LF Development is the same development company behind the Miami Beach property sold to Hassan Whiteside of the Miami Heat.

Located on Bay Drive in Miami Beach the 5,100 SF home features 5 bedrooms and 7bathrooms overlooking Biscayne bay views and includes a 3rd floor rooftop terrace with sunset views located on Normandy Island. The home features luxurious textures, exceptional finishes and one-of a-kind design bringing soul to the open living space. Outside offers a a completed automated LED lit pool and spa with stunning landscaping inspired by Raymond Jungles.

HFF Secures $550M Loan For Expansion Of Luxury Retail Destination Bal Harbour Shops

Holliday Fenoglio Fowler, L.P. (HFF) has announced that it has arranged $550 million in financing for the expansion of the iconic Bal Harbour Shops, a 463,114 SF, open-air, fully leased global, luxury shopping destination anchored by Saks Fifth Avenue and Neiman Marcus along Miami Beach in Bal Harbour, Florida. The loan is one of the largest construction loans ever to close in Miami. The HFF capital markets team was led by executive managing director Manny de Zárraga, senior managing director Chris Drew, managing director Jim Dockerty and director Matthew McCormack. MetLife Investment Management’s Arun Singh, vice president for the Southeast Region, and Jay Gadsby, director, originated the loan on behalf of MetLife Investment Management.

HFF worked on behalf of the borrower, Miami-based Whitman Family Development, to place the $150 million, eight-year, fixed- and the $400 million floating-rate construction facility with MetLife Investment Management. Loan proceeds will be used to retire an existing loan and expand Bal Harbour Shops by an additional 300,000 SF, including a 57,414 SF space to be occupied by Barneys New York, which will be Barneys’ only flagship store in the southeastern United States. A three-story promenade will be added to connect Barneys to the existing palm tree-lined promenade. The renovation will also bring a new grand entrance at the northeast quadrant of the property along with an expansion of the Neiman Marcus space by 20,000 SF.

“The loan marks the official launch of the Bal Harbour Shops expansion and represents the growth and strength of Miami’s retail real estate market,” Drew said.  “As the climate shifts for many traditional retail centers across the U.S., Bal Harbour Shops maintains its position as the most successful, high-end shopping destination in Florida and one of the most productive in the world. The Shops continues to experience intense demand from both existing tenants and retailers that have been waiting years to join its roster, and we are excited that this loan will allow Whitman Family Development’s expansion plan to come to fruition.”

Situated at 9700 Collins Avenue on 17.42 acres in an exclusive oceanfront community located between the Atlantic Ocean and the Intracoastal Waterway, Bal Harbour Shops was completed in 1965 as the first all-luxury fashion shopping center and has been meticulously maintained throughout the years. Bal Harbour Shops has operated at 100% occupancy for several decades with a waiting list. In addition to the anchor tenants, the Shops is home to more than 100 of the most sought-after global, high-fashion boutiques and brands, including Chanel, Gucci, Van Cleef & Arpels, Tiffany & Co., Salvatore Ferragamo and Valentino. The destination also boasts the highest concentration of restaurants in Bal Harbour.

“We’re delighted to support the expansion of one of the nation’s leading luxury shopping centers in the U.S.,” Singh said.  “This development will support the local economy and ensure that Bal Harbour Shops remains a destination of choice for many years to come.”

Magic City Innovation District Set To Transform Little Haiti After Receiving Final Approval

Magic City Innovation District (MCID), a 17.7-acre Innovation District in Miami’s Little Haiti and Little River neighborhoods, has received a unanimous final approval from the Miami City Commission. MCID spans 6 city blocks and intends to redevelop the Little Haiti and Little River neighborhoods to create a walkable, campus-like neighborhood where individuals from all demographic backgrounds can enjoy a high-quality live, work, play lifestyle. With an emphasis on technology, sustainability, health and wellness and art and entertainment, MCID will contribute to the economic vitality of the area and enhance the appeal of the community.

Renovations and construction commenced in August 2018 on 17 of MCID’s 21 commercial buildings. The project's first phase of commercial development features 200,000 SF of leasable space spread through several modernized warehouses. Designs for the commercial spaces, which range from 300 to 14,000 SF, are spearheaded by a variety of local design firms, including McKENZIE and ELM Architects. MCID anticipates being ready to receive office, retail and other commercial tenants as early as September 2018. Metro 1 is overseeing lleasing efforts for the 17 spaces, geared toward creative-style tenants that align and shape MCID’s atmosphere and further promote foot and auto traffic throughout the neighborhood. The developers will also contribute $31 million to the Little Haiti Revitalization Trust which will be overseen by the city

When complete, the Magic City Innovation District Will feature 3.8 acres of public civic space, 2.18 acres of landscaped pedestrian promenade dubbed the Promenade du Grand Bois, 2,630 residential units, 1,987,686 SF of office, 101,669 SF of expo space, 432 hotel rooms, 344,538 SF of retail, and 6,081 parking spaces. The first 4 tenants to commit to MCID were revealed in Sprinf 2019 including Diana Lowenstein Gallery, Manmar Entertainment (marketing), Ecovie (recycling start-up), and COOL Creative (advertising).

Nexus riverside approved and seT to break grouNd in Q4 2020

Adler Developments’ Nexus Riverside is coming to the Miami River after having been approved by Miami city commissioners. The developers plan to break ground in Q4 of 2020 and will bring 4 towers set o be completed in 5-7 years. Nexus Riverside will feature rental apartments, retail space, a shared parking garage and a 230,000 SF administrative building which will replace the City of Miami’s neighboring offices. Adler Developments will receive $150 million in tax exempt and taxable special obligation bonds which will help finance the development of the city’s new administrative building. Greenberg Traurig’s Nancy Lash and Ryan Bailine represented Adler Developments to structure the deal.

One Thousand Museum Residences By Zaha Hadid Announces Major Milestone As The Ultra-Luxury Tower Receives TCO

The time Miami has been waiting for has arrived. Developers Louis Birdman, Gilberto Bomeny, Gregg Covin and Kevin Venger, have announced that One Thousand Museum Residences by Zaha Hadid Architects has obtained its temporary certificate of occupancy (TCO) indicating the building is now ready for occupancy and closings can commence immediately.

“We could not be more proud of bringing Zaha Hadid’s vision to life and her legacy to Miami,” says Birdman, co-developer. “This tower represents the peak of architecture and design, and will completely surpass every expectation of our homeowners.”

The 62-story tower has already become an iconic Miami landmark, its striking exoskeleton design an identifier for Downtown and the city’s cultural nucleus. Its revolutionary design is recognized as one of the world’s most challenging architectural projects to date, the complex construction was overseen by Plaza Construction.

Residences are available for immediate occupancy, including half-floor plans starting at $5.8 million and full-floor residences to over $24 million. This summer, a curated collection of turnkey residences will come to market by international design houses of Artefacto, B&B Italia, Roche Bobois, Meridiani, Luxury Living Group and Morada Haute Furniture Design, with more turnkey units to be unveiled after the summer.

The residential experience and prestige of the tower is amplified by unrivaled amenities, including a private roof-top helipad, indoor-outdoor 1KM wellness center with gym, yoga facilities, 8 Juice Bar fueled by Raw Republic, relaxation pods and private rooms for spa services; a Sky Lounge for dining and events with seasonal menus by celebrated Chef Mame Sow, Director of Culinary; an on-premise bank vault; nearby Museum Beach a private Beach Club; access to a house car service; multimedia theater and more.

Residents will also become members of an exclusive partnership with Haute Living new Members Only App which will offer One Thousand Museum residents to exclusive access to VIP cultural, fashion, sporting and musical events in Miami and around the world. The final element rounding out the seamless, luxury lifestyle experience is the services. One Thousand Museum is the first residential project to partner with Forbes Travel Guide to set service standards for the building and train all staff in accordance with their Five-Star ratings system. The building also offers a Curator of Hospitality to anticipate homeowners’ needs on- and offsite.

The Arquitectonica-Designed Redevelopment Of Coconut Grove's Historic Pan Am Airways Base Submitted To City

Grove Bay Investment Group LLC. has submitted plans to the city for the redevelopment and restoration of Coconut Grove’s historic Pan Am Airways base. Construction on the project is already underway on the parking garage portion of the development. The Arquitectonica-design features 2 restaurants, event space, a public rooftop terrace and a baywalk. The historic hangers will be restored and preserved. The proposal is set for review by Miami’s Historic & Environmental Preservation Board on July 2.

Aston Martin Residences & Coastal Construction Set For Massive 1,400 Truck 30-Hour Concrete Pour

Construction at Aston Martin Residences is about to shift into the next gear as G&G Business Developments and Coastal Construction are set for a massive concrete pour. The 30-hour pour will require more than 1,400 concrete trucks as construction teams will pour the foundation for the highly-anticipated Aston Martin Residences in Downtown Miami.

On Friday, June 28 at 9:00 p.m., approximately 14,000 cubic yards of concrete and a team of 100+ workers will lay the foundation for the 69-story ultra-luxurious tower located at 300 Biscayne Blvd. Set to rise 818’, the luxury branded residences will be the tallest residential building south of New York upon completion in 2022.

German Coto, CEO of G&G Business Developments said: “I’m delighted with the progress in terms of the construction schedule and also sales. The feedback we’re receiving from purchasers is extremely positive, and their enthusiasm is reinforcing our decision to build quality into every stage of the process at the Aston Martin Residences.”

“We are incredibly excited for this construction milestone and to be a part of developing this extraordinary tower as the first real estate project for Aston Martin,” said Tom Murphy, Jr., chairman and CEO of Coastal Construction Group. “We look forward to bringing to life this striking building as it shapes the new skyline of Miami’s iconic downtown waterfront.”

The one-of-a-kind Aston Martin-branded tower will offer 391 lavish residences, with a variety of floorplans consisting of one to five bedrooms and penthouses ranging from 8,977-10,463 SF. The iconic tower is the first for Aston Martin and will feature 42,275 SF of sky amenities across four floors, including a double-level fitness centre overlooking the ocean, infinity pool, spinning studio, boxing gym, virtual golf room, art gallery, two cinemas, as well as a full-service spa, beauty salon and barber shop.

Pricing starts at $700,000 and range up to $8,800,000 for the "River and Panoramic Residences" part of the building and $14,000,000 to $50,000,000 for the "Penthouses." Sales are being overseen by Cervera Real Estate.