City Within A City: Miami Worldcenter To Eventually Have Almost 8,000 Residential Units
Miami Worldcenter finalized an agreement last week with Dade’s Water and Sewer Department that will bring enough utility capacity to the site for 7,780 residential units. To date, there are only two residential towers going through the city approval process. The Paramount condo tower will have 513 units, while a rental…
60-story towers due on river, to connect at top
Dual 60-story towers planned for the north bank of the Miami River are to include residential units and exclusive hotel rooms. The towers would connect at the top and bottom and be open in the middle. Plans calls for about 400 residential units, including two 5,182-square-foot penthouses that each have a terrace and pool.
Developer Avra Jain now active in 60 to 70 locations
Avra Jain is known for complete restoration of the Vagabond Hotel and being a woman in the predominantly male world of Miami development. What people might not realize is her generosity of spirit, evidenced by her pointing to others’ hard work that she says paved the way for her and the admiration she has for other developers…
Historic Edgewater site could get 36-story tower
Coral Gables office building bought by Texas developer known for knocking ’em down
A Coral Gables office property could be redeveloped after being acquired by a Texas developer known for knocking down buildings. errick Partners, a Miami-based company managed by Steven Schiff, sold the office buildings at 4015 and 4131 Laguna Street for $11 million to Terrace Mountain Investors IV, managed by Frank Trabold…
Surfside site under contract for $40M, new oceanfront hotel and condos planned
Marlins Site Remains Most Likely Stadium Site for David Beckham’s MLS Team
At an event late last week, Miami-Dade Commissioner Xavier Suarez once again showed off his office’s…
Big-name developers Related, Adler 13th Floor, vie to build at Coconut Grove Metrorail
Developers behind some of the most notable projects in Miami-Dade County are vying to build out an area adjacent to the Douglas Road Metrorail station near Coconut Grove. Miami-Dade government requested proposals for transit-oriented development near the station. Two groups responded, Miami Today learned through a public…
Young downtowners OK with less space
Not surprisingly, people are moving into residences they can afford and then adjusting to the size of their home, although residential brokers are noticing first choices often depend on the age group. “Buyers are going with what’s available to them,” said Daniel Quintana, managing broker of Merca Real Estate…
More Free Trolleys Coming to Miami
Miami leaders are preparing to expand their free trolley system, which averages 12,000 riders daily. Commissioner Frank Carollo said the rubber-tired trolleys have met great success since they started rolling in 2012. “I want to extend that success into Little Havana,” he said. On April 23, he moved to add a route into East Little Havana…
Miami CRA defers vote on giant LED billboard tower
The Southeast Overtown/Park West Community Redevelopment Agency has delayed its vote on plans for an electronic billboard tower that could grant millions in incentives to the Miami agency in exchange for approval.
Miami Beach Ritz Carlton Residences Construction Moving Along
Construction is moving forward on the Ritz-Carlton Residences Miami Beach at 4701 N. Meridian Ave., at the site of the former Miami Heart Institute. The seven-acre waterfront project comprises 111 condominium units and 15 single-family homes that will be priced from $2 million to more than $40 million. Delivery is expected in 2016…
Miami retail climbs higher up national index
Miami moved up one spot to rank 11th in Marcus & Millichap’s National Retail Index for 2015, climbing from 12th place last year, among 46 major retail markets based on a series of 12-month variables including employment growth, vacancy, construction and rents. Miami nearly cracked the top 10 – led by San Francisco, New York…
Toxic Soil Found at Bayfront Park
In the 80’s they decided that Bayfront Park was too flat and added fill to make it a bit more interesting. DERM has now found that the fill added is toxic and must be removed or capped. DERM decided to test all City parks after they found toxic material in other parks.The areas in question in…
History Lessons: The Boulevard Was Carl Fisher’s Last Miami Beach Hotel
Of developer Carl Fisher’s original Miami Beach hotels, including the more well known names like the Flamingo, the Nautilus, the Lincoln, and the King Cole, the least known, and the last one he ever built here, was The Boulevard.
According to the Wolfsonian Museum…
Sleeping Around: The new Aloft South Beach, on…
The new Aloft South Beach, on its spectacularly unusual Lake Pancoast location, is opening next month, reports the Real Deal. The project includes the restoration of the historic Ankara Motel, along with significant additions, including a new tower and new levels on the existing structures.
Development Update: Design District/Midtown Link to Break Ground Next Month
District 36, the mixed-use residential/commercial/retail project that will be sort of a link between the Design District and Midtown because of its location on the north side of 36th Street, between NE 1st Avenue and NE 1st Court, will break ground next month Michael Comras told the Miami Herald….
Come Hell or High Water: Will You be Underwater When Sea Levels Rise?
A web app created by professors and students at the FIU School of Journalism and Mass Communications, merging data from the Google Elevation Service with calculations made by scientist Peter Harlem at FIU’s GIS Center, shows the potential effects of sea level rise across South Florida in…
Storefronting: The new Lincoln Road Apple…
The new Lincoln Road Apple Store is finally open, and Racked Miami has some interesting tidbits on the design, which recalls an auto dealership that was originally located on the site in 1935. Oh, and it’s three times bigger than the old one.
Equinox fitness chain is taking the over the industry and will be part of Brickell Heights
The chain of luxury gyms will have nearly 80 clubs by the end of 2015 and has announced plans to launch a chain of upscale hotels with focus on physical health in Los Angeles and New York. “Our client has a lifestyle of high performance,” said the head of marketing for Equinox Carlos…
Boca Raton’s Arvida Park of Commerce rebranded to welcome residential uses
The Arvida Park of Commerce in Boca Raton has been rebranded as the Park at Broken Sound as it transitions from a traditional business park to a live/work center with residential units. The two property associations for the 750-acre property hired Fort Lauderdale-based ID & Design International to create a new logo and signage…
Retail Pre-Leasing At Brickell City Centre Weak, Simon Brought In To Help Market Space
Swire Properties has signed a deal with Simon Property Group to help lease the retail space at Brickell City Centre, in a three-way partnership with the Whitman family. The move comes weeks after the developer revealed in a conference call that just 25% of non-anchor space had been leased, a disappointing number. In 2013…
Royal Palm ownership approved, will become first Tribute by Starwood
Almost two months after the $278 million sale of the Royal Palm Hotel in Miami Beach, the new operators affirmed they would abide by the terms of a four-year-old conditional use permit given to the previous owner by the city’s planning board…
Israeli firm pays $13M for Fort Lauderdale’s Merrill Lynch Plaza
Arvida Park of Commerce renamed Park at Broken Sound
The Arvida Park of Commerce has been renamed the Park at Broken Sound as developers prepare to build residential units and retail stores at the 700-acre commercial park in northwest Boca Raton. Two associations of property owners at the 37-year-old development…
Developer plans 1M sf of self storage for Miami-Dade
Could self storage be the next big thing in real estate? At least one development firm thinks so. Miami City Self Storage, which develops in-fill storage facilities throughout South Florida, just picked up six parcels in Miami-Dade County as part of its plan…
JMH Development’s Aloft South Beach to open next month
Aloft South Beach — developed by Jason Halpern’s New York-based JMH Development, Madden Real Estate Ventures and Starwood Hotels & Resorts, announced Tuesday that it will open on May 28. The hotel, at 2360 Collins Avenue, will have…
First new Fort Lauderdale condo project completed this cycle
A developer has completed the first new condo project in the downtown Fort Lauderdale and Beach market during this current South Florida real estate cycle that began in 2011. A Fort Lauderdale corporation — Grupo Alco International LLC with Gustavo…
Apple’s New Lincoln Road Store Is Three Times Larger
e new Apple Store is officially open on Lincoln Road, and it is HUGE. According to 7 News, hundreds lined up to see its sleek new abode, which was designed by Touzet Studio, the same local architecture firm that created the Gap’s two-story, light-flooded Lincoln Road store. The first 1,500 customers received a limited edition T-shirt…
Texas developer picks up Coral Gables buildings for $11M
A Texas developer acquired nearly half a block in Coral Gables recently, Miami-Dade County records show.
Miami-based Merrick Partners sold the 1-acre site on Laguna Street and Altara Avenue, three blocks west of developer Ugo Columbo’s…
South Florida home prices keep rising: S&P/Case Shiller
South Florida again ranked among the highest metropolitan areas for rising home prices, according to the S&P/Case Shiller Home Price Indices released Tuesday. In February, the Miami area’s ranking was up 9.2 percent, year-over-year, and up 0.6 percent from January.
Net Leased Best Buy Sale Proves Theory
“Buyers looking to purchase net-leased investments should look for these and other attributes like rent- to-store sales ratio when evaluating these type of opportunities.”
Rare Retail Center Sells for $54M
“Opportunities of this quality in South Florida are rare and Wellington Green Commons should remain a dominant and highly productive center for years to come.”
Casa Palma apartments in Coconut Creek sold for $90M
A new South Florida apartment complex once again traded for top dollar as the Casa Palma in Coconut Creek sold for $89.88 million. MCA Casa Palma Owners, an affiliate of Boston-based AEW and Orlando-based Zom Holdings, sold the property at 6112 to 6252 N. State Road 7 – just north of the Sawgrass Expressway – to Teachers…
Miu Miu’s Design District Location Very Serious About Fashion
Picture Miu Miu and Prada as two sisters walking down the street. One wears a Peter Pan collar dress with milkmaid braids and a set of loafers, skipping happily along, the other a pencil skirt with an intricate bejeweled blouse and stacked heels, barely cracking a smile. Miuccia Prada herself has noted the distinction between her two…