Mixed-use rental building tops off in Coral Gables
A rental and retail tower along Coral Way in the Gables has just topped off. The Mile is a planned 13-story building with 120 apartments and ground-floor retail space. It is being developed by Greystone, based in New York, and Alta Developers, based in Miami. The two companies paid $7.1 million for the project site at 3622 Southwest Coral Way…
Check out the plans for Green City, an “eco-friendly” development that would move the UDB
Green City is an ambitious plan to create 860-acres of much needed state-of-the-art but affordable eco-friendly development. The catch? It would be built outside of the county’s Urban Development Boundary and creeps up into the Everglades. A genuine plan or a green-washed Trojan Horse meant to spur development past the UDB?
PNC Bank lends $11M to build Miami self-storage building
PNC Bank provided an $11.41 million construction loan for a self-storage facility in Miami. The project is one of six in the county planned by Miami City Self Storage LLC, led by Jay Massirman, Stephen Garchik and Steve McBride. Each one will be about 100,000 square feet with 1,000 climate-controlled storage units.
‘Grand’ 99-room hotel proposed in Bay Harbor Islands
MB Development is seeking approval to build a 99-room resort along the Indian Creek Waterway called the Grand Beach Hotel. The proposed 7-story project went before the Bay Harbor Islands planning board July 7 and the developers were asked to make revisions to their plan and return in August, according to the town…
Pompano Retail/Office Asset Fetches $4.5 Million
The property is 75% leased with a mix of local retail, office and service tenants.
Contemporary Tower Will Replace Bay Harbor’s Only Historically Designated Building Ever
The Bay Harbor Continental, a MiMo co-op building on the north shore of Bay Harbor’s East Island was historically designated by Miami-Dade County earlier this year. It was the first and only building ever designated in Bay Harbor, on any level. Then all the developer P3 Investments’ lawyers and…
Archicritics: Affordable Housing Within Miami’s Glitzy Real Estate Market
Some of the poorest Miamians spend over 60 percent of their household income on housing. “With one of the most expensive real-estate markets in the country, Miami is suffering from a major workforce housing crisis.” says archicritic Alastair Gordon, who reminds us that for many of the greatest…
Development Update: Echo Brickell Replacing its Sharks with ‘Alternate Marine Life’
On June 23rd an Instagram account called aroundtheworldpix posted this rendering of the shark tank from the lobby of Echo Brickell, the superluxury condo tower going up in Brickell. It sparked public outrage with most people thinking the sharks in that tank would actually be that big, which obviously…
Verizon Wireless Store Sells at Aggressive Cap
“We priced it aggressively at a 6.65% cap when most deals of this nature were trading at or above a 7% cap for a lease length of under ten years in a secondary market.”
Bill creates new hurdles for EB-5 visa-backed projects
The unprecedented demand for EB-5 visas by foreign investors, as a way to gain permanent U.S. residency, could lead to new regulations that make it harder for project developers to tap capital from abroad. Consultants and attorneys in South Florida who specialize in EB-5 visas told The Real Deal that the popular immigration…
PREMIER Design + Build to Construct Industrial Facility in South Florida
Bridge Development Partners LLC has tapped PREMIER Design + Build LLC to construct Bridge Point Crossroads West. The general contractor will build the 242,859-square-foot speculative industrial facility on a 17-acre parcel in Hialeah Gardens, roughly 15 miles north of Miami. The facility will feature 32-foot clear heights, 81 truck dock…
Solar firm Conergy to move headquarters to Miami-Dade
Solar energy firm Conergy will move its U.S. headquarters from Denver to North Miami, where it will house 50 current and new employees. The majority shareholder of Conergy is Miami-based Kawa Capital Management. Founded in 1998, its corporate headquarters is in Hamburg, Germany.