In a bold move that signals a transformative shift for Miami’s urban landscape, the Swerdlow Group has unveiled plans for a $3 billion mixed-use public housing project, poised to become one of Miami’s most significant developments. Spanning 65 acres across the Little River and Little Haiti neighborhoods, this ambitious proposal is set to introduce nearly 5,000 units of workforce…
Gargantuan Development Proposal Would Bring 5,000 Affordable Units To Miami
Swerdlow Group has proposed a 65-acre redevelopment plan that aims to remake Miami’s Little Haiti and Little River neighborhoods. The Coconut Grove-based developer wants to bring 4,900 new affordable and workforce housing units to a nearly mile-long stretch of the neighborhood in a proposal that includes a new Tri-Rail station, retail space for big box stores and 700K SF of new…
Developers Propose Miami-Dade Mixed-Use Project With 5,000 Apartments
Plans for one of Miami’s largest ever developments have been revealed as part of a bid for county property in the Little River and Little Haiti area, according to the Herald. Swerdlow Group is partnering on the bid with AJ Capital Partners, which controls 27 acres in the area. Four Miami-Dade public housing projects, including Victory Homes and New Haven Gardens, would be redeveloped…
Swerdlow proposes $3B project with 5k affordable apartments in Miami
Swerdlow Group is proposing a massive, mixed-use public housing project spanning 65 acres along Miami’s Little River and Little Haiti neighborhoods. The development could cost $2.6 billion and create nearly 5,000 workforce and affordable housing units. Coconut Grove-based Swerdlow Group responded to Miami-Dade County’s request for proposals to redevelop and expand four…
‘Landmark’ Skybridge To Be Suspended Between Two Towers in Downtown Miami, 700 Feet Above Ground
The developers of the Miami Riverbridge project have released a website and video showing that a “landmark” skybridge is planned at the three-tower development. Three towers, including one supertall, will be replacing downtown Miami’s existing Hyatt Regency. The “spectacular” Skybridge will connect the two non-supertall towers, suspended 700 feet above ground.
Developer Files To Release Covenants At Former Chinatown Site in Edgewater
Miami commissioners are scheduled to have a hearing on a plan to release two covenants and a unity of title at the former Chinatown property in Edgewater. The documents date back to the 90s, when a development known as Chinatown was planned on the site. Miami’s Planning Department is recommending commissioners approve their release. An affiliate of developer Melo…
Six Brickell Properties Being Added To Rapid Transit Zoning Area
Intense development could soon be coming to six more Brickell properties, under Miami-Dade’s Rapid Transit Zoning rules. The properties are currently subject to City of Miami zoning rules, but are now in the process of being added to the County’s Rapid Transit zone, which generally allows more intense development. In the past, major developments have been announced…
Surfside Mayor’s Dubai Meeting With Developer Of Fatal Collapse Site Draws Rebuke From Commissioners
The Surfside Town Commission devolved into bickering and infighting Tuesday night as a commissioner tried to compel Mayor Shlomo Danzinger to turn over records related to an October 2022 trip to Dubai, where he met with the developer that purchased the site of the deadly Champlain Towers South collapse. “The trip to Dubai to meet a billionaire developer was not a casual…”
MG Developer, Baron propose 806-unit project with workforce housing near Coconut Grove
MG Developer and Baron Property Group propose an 806-unit apartment project near Miami’s Coconut Grove. The development firms want to build Merric Parc with two 31-story towers on a full city block between Shipping Avenue and Orange Street, and between Southwest 38th Court and 39th Avenue near the Douglas Road Metrorail station, according to an application…
Construction Now Underway At ‘Sophisticated’ Wynwood Station WIth 210 Apartments
Developer Fifield Cos. announced that it has broken ground on an apartment complex called Wynwood Station, with a “sophisticated, playful aesthetic.” The transit-oriented development is being built one block from a proposed train station on the Brightline tracks. A total of 210 apartments are planned. High end touches will include frameless glass showers, with some units…
Fifield Cos. Goes Vertical on 210-Unit Wynwood Luxury Rental
Wynwood Station will have an industrial-influenced façade. Image courtesy of Fifield Cos. Wynwood Station will have an industrial-influenced façade. Image courtesy of Fifield Cos. Wynwood Station will have an industrial-influenced façade. Image courtesy of Fifield Cos. Fifield Cos., in a joint venture with PGIM Real Estate, has started vertical construction on Wynwood Station…
Wynwood Station MXU at 45 NE 27th Street Starts Vertical Construction
Vertical construction has commenced on Wynwood Station, an eight-story mixed-use development in Miami. Located just 2.4 miles from the downtown area, the venture will offer 210 luxury homes, measuring 567 square feet to 1,036 square feet each. Floorplans include studios to two-bedroom units. In-unit amenities include quartz countertops, frameless glass showers, and stainless…
Brickell City Centre Retail Space Now 100% Leased
Brickell City Centre’s retail space is now fully leased, developer Swire Properties told investors last week. Some of the space may be allocated to prospective tenants who have signed letters of intent, the report said. It is the first time ever that the mall is fully leased. The mall opened in 2016. Even before reaching fully leased, the mall has been seeing more activity. Retail sales were…
Photos: See Construction Progress At 601 Miami (Natiivo)
Construction is continuing at the 51-story 601 Miami tower, photos by Phillip Pessar show. The project includes an additional 448 condos that were marketed under the Natiivo name, along with 70,000 square feet of amenity space. There will also be a Gale Hotel & Residences with 160 condo units. There will also be 125,000 square feet of office, and 20,000 square feet of event space.
Miami Beach powers up to shut down Spring Break
Miami Beach is clamping down to shut down spring break. The city, known for attracting visitors from around the globe, is targeting the March college break to avoid the violence and disorder of past springs. “The measures I proposed approved by our commission will ensure that our residents, businesses, and visitors are safe and thrive during spring break,” said Mayor Steven Meiner…
With Orlando link, Brightline revenues and riders jump
Since launching its long-distance services from Miami to Orlando in September, Brightline is reporting strong and accelerating ticket revenue and ridership. For December, ticket revenue was $12.4 million, an increase of $8.7 million or 233% from December 2022, according to Brightline’s recent revenue and ridership report. The report said the ridership numbers increased…
Municipal trolleys in Miami-Dade reach nearly 11 million annual rides
The municipal trolley services in Miami-Dade County continue to serve the community. The total amount of ridership for fiscal year 2023 was 10,809,633. From the 10.8 million ridership number, 699,719 came from on-demand routes, said Mariana A. Price, municipal program manager for the Citizens’ Independent Transportation Trust (CITT). “That means that still the majority of our ridership, 10,109,914, comes from our fixed-route circulators,” she said. “Fixed route is the most reliable type…
Terra’s $500M bid for Miami Beach condo building Castle Beach Club expires
Developer David Martin’s record bid to acquire Castle Beach Club, an aging oceanfront condo building in Miami Beach, could be dead in the water. Contracts with the majority of unit owners expired at the end of January, sources told The Real Deal. Martin’s firm, Coconut Grove-based Terra, is still interested in purchasing the roughly 570-unit property at 5445 Collins Avenue, and said…
Three-level expansion will bolster MIA’s South Terminal
Miami International Airport is working on a vital expansion project that will stretch out its South Terminal to meet its growing passenger demand, which is projected to increase 50% by 2040. Announced by Aviation Director Ralph Cutié before the county’s Airport and Economic Development Committee last October, the $754 million South Terminal expansion design-build…
Jeffrey Bass: Veteran attorney starts new firm, targets land use litigation
After playing a key role in shaping South Florida’s landscapes and skylines, Miami Attorney Jeffrey Bass has launched his boutique law firm in Coral Gables. Following a 30-year run as co-founder at Shubin & Bass in downtown Miami, Mr. Bass begins the year with the launch of The Bass Law Firm, in which he can continue hands-on and focused attention to clients’ matters.
County grants $2 million for Sawyer’s Walk in Overtown added development costs
The developers of Sawyer’s Walk, a 1.5-million-square-foot multi-use project in Miami’s Overtown, received a $2 million grant from county commissioners last week based on a letter seeking the money to cover part of a $16 million covid-generated cost overrun. The funding is to go to the 578 units of senior affordable housing that are part of the project. The developer, in a press…
Fifield Cos. Begins Construction of 210-Unit Wynwood Station Apartment Community
Fifield Cos. has begun construction on Wynwood Station, a 210-unit transit-oriented apartment community development at 45 N.E. 27th St. in the Wynwood neighborhood of Miami. Upon completion, the building will span eight stories and feature 11,000 square feet of ground-floor retail space. Apartments will range from 567 to 1,036 square feet in size, with a mix of studio…
BH Group plans medical office building in Aventura
BH Group is expanding its development pipeline in its home city with a planned medical office building in Aventura. The Aventura-based real estate firm is seeking to build a nine-story building on a 0.7-acre site at 2740 – 2760 Northeast 208th Street, a site plan application shows. BH Group is planning 50,004 square feet of medical office space on four floors and a ground-floor…
Miami commissioners give preliminary OK to rezone Polish American Club
Polish American Club of Miami is closer to scoring a rezoning of its longtime headquarters in Allapattah to make way for an eight-story mixed-use project. The Miami City Commission on Thursday voted on first reading to change the zoning designation for the club’s property at 1250 Northwest 22nd Avenue from “medium density restricted commercial” to “restricted commercial.”
Celebrity-Backed Rooftop Restaurant & Bar Coming To Miami Worldcenter
Miami Woldcenter’s Jewel Box retail building is getting a new rooftop restaurant and bar in 2025. Villa One Tequila Gardens, co-founded by celebrities Nick Jonas and menswear designer John Varvatos, joins a number of other retail and restaurant concepts coming to Worldcenter. The new restaurant and bar will ‘bring the essence of Mexico’s finest’ to Miami, with over 150 tequila…
This Week’s South Florida Deal Sheet: Nick Jonas Plans Tequila Bar At Miami Worldcenter
Singer Nick Jonas and menswear designer John Varvatos are planning to open a 13K SF rooftop bar at Miami Worldcenter called Villa One Tequila Gardens, according to a release. The bar is set to open in 2025 atop 150 NE Eighth St., a mid-rise retail building known as the Jewel Box with 80K SF. The bar, designed by Mexico City-based KOM Studio, will serve over 150 tequila and mezcal…
NuRock proposes Live Local Act project with 130 affordable rentals near Opa-locka
NuRock Companies proposes a Live Local Act project with 130 apartments near Opa-locka, marking developers’ continued use of the state legislation incentivizing affordable housing construction. The Alpharetta, Georgia-based company wants to build Residences at West View Landing with one 11-story building on the southeast corner of Northwest 27th Avenue and Northwest 123rd Street…
Limestone, Orion Complete $5M Renovation of Pinecrest Town Center in South Florida
Limestone Asset Management and Orion Real Estate Group have completed the $5 million renovation of Pinecrest Town Center, a 225,255-square-foot mixed-use property located at 12651 S, Dixie Highway in the south Miami suburb of Pinecrest. Renovations at the property, which features retail and office space, included upgrades to the façade and storefronts, the installation…
Miami-based Limestone Asset Management and Orion Real Estate Group recently announced the completion of a $5 million renovation of Pinecrest Town Center, a mixed-use retail and office complex situated at 12651 South Dixie Highway, Pinecrest, FL. The renovation focused on modernizing the exterior façade and storefronts, the installation of impact-resistant windows…
Landau Properties Breaks Ground On ‘Indian Creek Residences & Yacht Club’ In Bay Harbor Islands
National real estate development firm Landau Properties today announced the groundbreaking of Indian Creek Residences & Yacht Club, a highly anticipated new residential development transforming the south shore of Miami’s Bay Harbor Islands. Following the development’s setting of a new price record for the most expensive condo sale on the islands, project officials…
Mast Capital Lands $600M Construction Loan for Miami Cipriani Project
Cipriani Residences Miami is expected to open in 2028. Image courtesy of Mast Capital Mast Capital has secured a massive construction loan for its 80-story condominium project in Miami, Fla. The developer landed $600 million in financing, including $250 million from Banco Inbursa and $250 million from Ascendant Capital Partners. Newmark arranged the loan, which the developer…
Mast Capital, a Miami-based real estate developer, is gearing up to begin construction on Cipriani Residences Miami following robust sales activity. The developer has secured a record-breaking construction loan of $600 million from Mexico’s Banco Inbursa and Ascendant Capital Partners, the largest amount ever obtained for a single-tower residential construction in Florida.
Developers Announce Plans For New Transit Oriented Development In Overtown
Lion Development, Property Markets Group and LNDMRK have acquired Overtown’s Block 19, and announced plans for a Transit Oriented Development. The developers paid $16.5 million for the 1.5-acre property, which is just west of the Brightline tracks. The new development will include both market-rate and workforce housing apartments, along with parking facilities for …
Lion, PMG, Lndmrk buy Overtown dev site, plan multifamily project with workforce units
A trio of developers are betting on demand for apartments in Miami’s Overtown neighborhood. Michael Simkins’ Lion Development Group, Property Markets Group and Alex Karakhanian’s Miami-based Lndmrk Development scooped up a 1.5-acre development site at 105 Northwest Eleventh Terrace, according to the buyers’ news release. They plan a multifamily project with market…
FAA Issues Approval For Overtown Development Spanning Multiple Blocks
The Federal Aviation Administration issued approval last week for a new development in Overtown planned to span multiple blocks. The plans include four separate structures located along Northwest 2nd Ave between Northwest 11th St, Northwest 10th St and Northwest 9th St, the filing states. The FAA approval letter was mailed to Historic Overtown Partners, LLC, which shares…
Merrimac, Aria Development Land $95M Construction Financing for Miami Tower
600 Miami Worldcenter is scheduled for completion in 2026. Image courtesy of Merrimac Ventures and Aria Development Group 600 Miami Worldcenter is scheduled for completion in 2026. Image courtesy of Merrimac Ventures and Aria Development Group 600 Miami Worldcenter is scheduled for completion in 2026. Image courtesy of Merrimac Ventures and Aria Development…
Yakov and Cheryl Cohen propose 11-story mixed-use project in Ojus
Married couple Yakov and Cheryl Cohen propose an 11-story mixed-use project with offices, retail and apartments in the Ojus neighborhood. The Cohens want to build the Aventura Office Center with 120,000 square feet of offices; 4,400 square feet of commercial space; and 12 apartments at 18802 and 18820 West Dixie Highway, according to Yakov Cohen and an application…
Sale of 89,883 SF Mixed-Use Center in Aventura Arranged
Cushman & Wakefield has arranged the sale of Aventura Plaza, an 89,883-square-foot mixed-use center in suburban Miami. Situated along Biscayne Boulevard, the property comprises a neighborhood shopping center and a two-story office building spanning 23,554 square feet. Aventura Plaza was 92 percent leased at the time of sale to tenants including Ace Hardware…
Grocery-Anchored Shopping Plaza In Aventura Trades For $48M
A shopping center in Aventura’s Biscayne Boulevard retail corridor sold for $48M. The 90K SF shopping center was marketed for sale after boutique grocer Plum Market moved in last year. An entity tied to Miami-based Elysee Investments purchased Aventura Plaza at 17801 Biscayne Blvd., a 90K SF shopping center that includes a two-story office building, according to a release.
AcadeMir pays $17M for Homestead charter school
AcadeMir Charter Schools acquired its Homestead campus for $16.6 million. The Miami-based charter school company bought the two-story educational building at 13330 Southwest 288 Street, according to a press release. AcadeMir Charter School of Math & Science had leased the 3.5-acre property… from the seller, an entity…Miami-based real estate investors Mario and Ramon Castellanos.
Raise a glass: Coral Gables’ beloved bierhaus Fritz and Franz could be set to stay
On a cool December evening, Ernesto Diaz and four of his friends came to their favorite bierhaus to do the same thing they’ve done for the past 10 years. They saddled up around a long, varnished wood bench checkered in red and white, ordered a round of Bavarian brews, and caught up on the old days outside Fritz and Franz in Coral Gables. The five were childhood friends in Cuba.
Developers Known For Luxury Towers Pay $17M For Workforce Housing Site In Overtown
A trio of developers that have previously partnered on projects across Miami added a 1.5-acre development site in Overtown to their stable of planned projects. Property Markets Group, Lion Development Group and Lndmrk Development paid $16.5M for 105 NW 11th Terrace in Overtown between Downtown Miami and Wynwood. The joint venture is planning a transit-oriented…
Details revealed of former HFZ Developer Nir Meir’s arrest in Miami
Nir Meir bought himself time when he filed for bankruptcy in early February, delaying a hearing in New York tied to a $19 million judgment. Then he was taken away in handcuffs in Miami Beach the following week. Now, new details have emerged about the arrest of the former HFZ Capital Group executive who was indicted by the Manhattan district attorney this week on charges…
Lease roundup: Legacy gym coming to Miami’s Little River
Celebrities and athletes’ trainer Manning Sumner will open his Legacy gym and his No Days Off water and apparel brand in Miami’s Little River. Legacy and No Days Off leased the 12,000-square-foot facility at 7400 Northwest Miami Court, where the brands also will base their headquarters, according to the tenants’ news release. The gym, a store and co-working space will open this fall.
Hollywood Circle developer Chip Abele to convert apartment tower to condos
Hollywood developer Chip Abele is converting his Circ Residences rental tower into a condo building, amid rising demand for newer units. Abele’s GCF Development completed the 25-story, 386-unit tower at 1776 Polk Street in 2019. It’s now launching sales of the units as condos, with prices ranging from $450,000 to $1.3 million, according to a press release. The apartment building…
Oakland Park Officials Advance Urban League’s Plan For 19-Acre Housing Complex
The Urban League of Broward County’s decade-old plan to build an affordable housing development 4 miles north of Downtown Fort Lauderdale got closer to breaking ground at an Oakland Park City Commission meeting Wednesday. City commissioners voted unanimously to pass the first reading of two zoning changes that the Urban League needs to move forward…
An upcoming development at 904 East Las Olas Boulevard, slated for site plan approval by Fort Lauderdale’s Development Review Committee on February 13, is poised to significantly enhance the commercial fabric of East Las Olas Boulevard. Architectural Alliance, supported by Palmetto as the landscaping architect and Flynn Engineering Services, PA, as the civil engineer…
106-Residence Wellington North Proposed for South Shore Boulevard and Pierson Road
Developer Wellington Lifestyle Partners hopes to move forward with Wellington North, a residential housing complex in South Florida. The project involves annexing 96 acres from the Equestrian Preserve, which presently spans 9,000 acres. Wellington North upon completion would rest on 101.9 acres. The complex, backed by star investors such as Tiger Woods and Justin Timberlake…
After a series of meetings in January where residents aired their concerns and criticisms over Mark Bellissimo’s plan to build two projects in Wellington’s equestrian preserve, the village council voted to approve the proposal at a six-hour meeting on Wednesday night. The approval means that 96 acres will be transferred out of the 9,000-acre preserve, which has never been done…
Al Adelson, Morrison family propose 25-story condo tower in West Palm Beach
Developer Al Adelson and the Morrison family’s Sympatico Real Estate propose a 25-story condo project overlooking Clear Lake in West Palm Beach. Adelson, who developed The Bristol condo, and father-son real estate duo Carlos Morrison and Thomas Morrison want to build the 191-unit tower on 2 acres at 601 and 621 Clearwater Park Road, according Adelson and an application filed…
Video: BGO Economist Ryan Severino’s View of Commercial and Multifamily Real Estate
The Conversation: Navigating the Future; Insights from BGO Chief Economist on the Economy and Commercial Real Estate Market In this video, BGO Chief Economist Ryan Severino joins America’s Commercial Real Estate Show to discuss the economy and the U.S. commercial real estate market. Discussions include Severino’s views on the various property sectors moving…
The Fed: What Are the Long-run Trade-offs of Rent-Control Policies?
When economists evaluate policies, they typically find both positive and negative effects. These trade-offs are at the core of economics, where there is generally no free lunch. The role of the economist is to identify these trade-offs; the policymaker can, then—with full information—determine how to weigh one aspect of the trade-off against another. These trade-offs are apparent…
Manufacturing Momentum Is Building
Over the past three years, North America has witnessed many announcements regarding new and expanded manufacturing facilities. The pipeline for manufacturing development has reached an unprecedented level, indicating a solid trajectory for further growth in this sector. Numerous factors have converged to build momentum and spur investment in manufacturing construction…
Cargo and cruise traffic hit record highs last year at Florida seaports, which took advantage of global supply-chain issues and a desire by people to travel as COVID-19 pandemic restrictions waned, according to an industry report released Wednesday. The annual Seaport Mission Plan by the Florida Ports Council said 10 port facilities handled 114.25 million tons of cargo in 2023…
Cresting Revenues in Florida Apartments Now at a Trough
Revenue change in Florida markets hit a recent low in January, a far cry from the extreme peaks of 2021 and 2022. Among the nation’s largest 150 apartment markets, 17 are in Florida. Those 17 markets saw revenues decline an average of 3.4% in the year-ending January, according to data from RealPage Market Analytics. In comparison, U.S. revenues were unchanged for the year.
Changes to Florida’s affordable housing law clear hurdle
The Florida Senate passed amendments to the Live Local Act, which are expected to be approved by the House next. Let’s break them down. Live Local, signed into law by Gov. Ron DeSantis last year, created major zoning incentives for developers that set aside housing for people making up to 120 percent of the area median income, and allocated hundreds of millions of dollars…