Joint Venture Submits Sole Proposal for $10 Billion Miami MetroCenter Redevelopment Plan
A joint venture between Merrimac Ventures, Related Urban, and 13th Floor Investments has submitted the sole proposal for the redevelopment of MetroCenter in Downtown Miami. The plan calls for the transformation of 17 acres surrounding the Stephen P. Clark Government Center into a dynamic, transit-oriented district. According to county records…
Codina scores $100M construction loan for 412-unit multifamily project in Downtown Doral
Codina Partners landed a $100 million construction loan for a 412-unit multifamily project at its Downtown Doral mixed-use development. The firm, led by father-daughter duo Armando Codina and Ana-Marie Codina, started building the seven-story Sevilla building on a 4.2-acre site on the corner of Northwest 53rd Street and Northwest 52nd Terrace in Doral, according to the developer’s…
“Financial sabotage”: Dan Kodsi’s Legacy Miami Worldcenter tied up in foreclosure, countersuit
Future of 50-story mixed-use condo and hotel tower under construction hangs in the balance Developer Dan Kodsi’s Royal Palm Companies filed a counterclaim to its lender’s foreclosure lawsuit, tied to the stalled Legacy Hotel & Residences project at Miami Worldcenter. Legacy Lender Holdings LLC last week sued affiliates of Kodsi’s Miami-based Royal Palm Companies…
Miami Beach’s Sixty Sixty Resort faces $21M foreclosure
Lender alleges waterfront condo-hotel owner defaulted on 2023 loan Three years after buying Sixty Sixty Resort in Miami Beach, the owners could lose the 82-key waterfront condo-hotel to foreclosure. On June 27, De Paz Family Investment sued Bloom Hotels 6060 — which owns all the units at the 15-story building at 6060 Indian Creek Drive — as well as the property’s condo association…
VDA lands $31M construction loan for Artefacto-branded Bay Harbor condos
74% of units at waterfront seven-story, 27-unit project are presold Chilean developer VDA Origin | Miami landed a $30.5 million construction loan for a planned Artefacto-branded condo project in Bay Harbor Islands. Mauricio Moya and Sergio Guzmán’s VDA scored the financing from Joshua Crane and Robert Schwartz’s New York City-based S3 Capital…
Developer scales down Goulds Village Center to 300 market-rate apartments
Last year, Lockhart Management Group scored approval for 342 units A developer wants to scale down its planned Goulds Village Center project to 300 units. Lockhart Management Group, which primarily has built self-storage facilities across Florida, plans the market-rate complex with a pair of five-story buildings on a 3.7-acre site between U.S. 1 and the South Dade Busway…
These projects will bring more density to Miami’s Little Haiti and Little River
A handful of developments will add more than 10K apartments and more than 1M sf of commercial space Miami’s Little Haiti and Little River are where generations of working class immigrants, predominantly from Haiti, have planted roots and seasoned the area with Caribbean flavor. A stretch on Northeast Second Avenue between 54th Street and 71st Street is like…
FAA Gives Approval For 1,046′ Height Of Citadel Supertall Tower In Brickell
Citadel’s planned Brickell supertall headquarters tower just gained a key approval from the Federal Aviation Administration. The agency issued a determination on July 3 stating that the proposal would not be a hazard to air navigation. The application had been filed with the FAA on October 24, 2024, so it took over 8 months to receive the approval letter.
Thousands Of Employees: Carnival Corp. Files Plans For Global HQ In Miami
Carnival Corporation filed preliminary plans yesterday for a new global headquarters complex in Miami. The company announced earlier this year that the new headquarters office would be used to consolidate employees currently dispersed throughout other locations and regions, as well as those an existing Doral office. It is being designed for an initial 2,000 employees…
New Brickell Public Library Moves To Study Phase
Miami-Dade is moving forward with exploring building a public library in Brickell. County Commissioners voted unanimously last month to study various possibilities for the new branch, which would expand Miami-Dade Public Library System’s 50 library locations. The goal is to establish a library that is around 8,500 square feet. There are four possible options that will be studied…
Miami Beach floats plan for ferry service crossing Biscayne
Miami Beach is powering toward a water taxi service connecting the island to the mainland. In June, commissioners unanimously approved authorizing the city administration to negotiate with Water Taxi of Fort Lauderdale LLC, the top-ranked water-taxi service proposer to respond to a city request. As noted in the commission memo accompanying the legislation…
New player enters Miami Seaquarium bankruptcy case
The Miami-Dade commissioner whose district includes the Miami Seaquarium has been delegated to negotiate with those now controlling the county-owned site on the bidding, auction and bankruptcy procedures for disposing of the attraction. “I can practice in bankruptcy court and I have an expertise in valuation,” Raquel Regalado told commissioners, who unanimously backed…
Codina Partners Breaks Ground on Sevilla at Downtown Doral, Secures $100 Million Construction Loan
Codina Partners has officially broken ground on Sevilla, a seven-story, 412-unit mid-rise residential tower located in the heart of Downtown Doral. The project marks the latest addition to the 250-acre master-planned community and is positioned to meet growing demand for upscale, amenity-rich living in one of Miami-Dade County’s fastest-growing submarkets….
Four-Story, 30-Unit Apartment Complex Proposed for 16905 SW 100th Avenue in Southern Miami-Dade
Doral-based TLC South Dade LLC hopes to get approval for a low-rise residential building in southern Miami-Dade County. The unnamed venture would measure four stories above grade and feature 30 apartments. Layout plans would include studio, one-bedroom, and two-bedroom apartments, and residency would be reserved for tenants earning up to 120 percent of the area…
Related Proposes 700 New Apartments in South Miami Near Metrorail Station
Related Urban Development Group is proposing to build a transit-oriented apartment complex in South Miami. The Property is owned by the Miami-Dade County Department of Housing and Community Development, and was awarded to Related to redevelop. In 2024, Related completed construction on Residences at SoMi Parc, a mixed-use development with 172 units on a portion of the site.
Permit For Midtown Miami’s Tallest Building Now In Process
A construction permit to build the tallest building in Midtown Miami ins now officially in the review process. The building permit application for the new tower was submitted on May 2. It completed pre-screening and entered review on June 26. The Jean-Georges Miami Tropic Residences building is planned to rise 48 stories, or 606 feet above ground. Existing buildings in Midtown…
Uber Doubling Miami Office Space In Blackstone-Owned Building
Uber has signed a deal to expand its Miami office, a sign that the area is still attracting new investment from technology companies. The deal doubles the footprint Uber has at the building, at 161 NW Sixth Street, after it signed a 13K SF lease in August 2021. Blackstone purchased the 2 and 3 MiamiCentral office buildings for $230M in 2021. “We’re excited to be expanding our footprint…”
Rental Flexibility Green Light For Planned 70-Story Brickell Tower `Calle 8`
Miami-Dade has issued a Zoning Verification Letter that appears to allow flexible rentals at the 70-story Calle 8 tower planned in Brickell. The June 9 letter was issued in response to a Zoning Verification Request filed by representatives of the developer. A professionally managed operation will oversee the leasing, according to the original letter sent to the county.
1600 Edgewater Advances To Site Work Permit After FAA, UDRB Approval
Plans for a 33-story tower known as 1600 Edgewater are advancing with a new site work permit filing. The site work permit application was submitted on June 2, with GT McDonald listed as the contractor. The permit is not yet in review. A total demolition permit to clear the site is also in process, as is a master construction permit for the new tower. The FAA issued approval for the height…
‘Chocolate Girl’ Sculpture Proposed To Be Placed In Brickell, Valued At $500k
A bronze sculpture by Ignacio Gana may soon be placed in a prominent location in Brickell. Gana is a Miami-based artist who was born in Chile. He has proposed to temporarily place a sculpture titled “Chocolate Girl” on city-owned property on Brickell Avenue. The sculpture would be installed for up to a year at Mary Brickell Park, located at 501 Brickell Avenue.
Archaeologists Discover Artifacts Up To 3,500 Years Old at 1809 Brickell Ave Development Site
More remnants of ancient settlement have been discovered in Brickell, according to the Herald. The report said the remains were discovered at 1809 Brickell Avenue, where the luxury St. Regis condo tower is now under construction. The buried findings include refuse and other artifacts that are up to 3,500 years old, along with ancient human remains. A 17-story building previously…
Photos: One Bayfront Plaza Demolition Site In July
Photos by Phillip Pessar show the One Bayfront Plaza demolition site in downtown Miami. A 19-story building and an attached garage and retail complex are being demolished. The building is around 67 years old. Demolition began in 2023. There are plans for a supertall, landmark 1,049-foot tower on the site.
Developers Acquire Miami Beach Club for $131 Million, Plan Branded Condominium Tower
A joint venture between Related Group, BH Group, and Dezer Development has finalized the $131 million acquisition of the Miami Beach Club, an aging oceanfront condominium property at 19051 Collins Avenue in Sunny Isles Beach, Florida. The development team plans to redevelop the site into a new 150-unit branded luxury condominium tower, which could rise as high…
$295 Million Mixed-Use Project Proposed for 7200 NW 22nd Avenue in Miami
The Miami-Dade Housing Committee intends to review plans for a three-phase, mixed-use development next week. SG Poinciana Ventures LLC has proposed a project that would offer both residential and industrial aspects. The first phase is planned to offer 155 housing units, available to seniors earning up to 60 percent of the area median income (AMI).
BSD Capital planning Davie mixed-use project after buying dev site for $16M
Hollywood-based firm plans The Core Residences, with 744 apartments, 51K sf of retail and 29K sf of office BSD Capital is planning a two-tower, mixed-use project on a Davie development site the firm acquired for $16 million. An affiliate of Hollywood-based BSD Capital, led by co-CEOs Guy Levintin and Sharon Sharaby, acquired a 4.8-acre property with a 41,000-square-foot office…
Granite Pays $36M for Coral Springs Industrial Campus
Exclusive Trim and Marc Refrigeration occupy the entire two-building campus. Image courtesy of JLL Granite REIT has purchased a 124,500-square-foot industrial campus in Coral Springs, Fla. The asset traded for $36.4 million, according to Broward County public records. The joint venture of Barings Real Estate and Arkadia Property Group was the seller.
Granite REIT picks up Coral Springs industrial complex for $36M
Barings and Arkadia sold two fully leased warehouses on 7 acres Granite REIT CEO Kevan Gorrie, Barings CEO Mike Freno and Arkadia Chairman Richard Kilstock with the Coral Springs Logistics Center at 3850-3872 Northwest 126th Avenue in Coral Springs (Getty, JLL, Granite, Barings, LinkedIn, Arkadia) Granite REIT is the latest institutional out-of-towner to dip…
T2 Hospitality pays $37M for 163-key oceanfront hotel in Lauderdale-By-The-Sea
T2 Hospitality CEO Mike Patel with the Plunge Beach Resort Hotel at 4640-4644 and 4660 El Mar Drive in Lauderdale-By-The-Sea (Getty, T2 Hospitality, Google Maps) T2 Hospitality bought a 163-key oceanfront hotel in Lauderdale-By-The-Sea for $36.6 million. The Newport Beach, California-based firm purchased Plunge Beach Resort Hotel from an entity managed by…
Construction Ends on ‘Mount Hermon Apartments’ at 750 NW 4th Street in Fort Lauderdale
Construction has concluded on an affordable housing development for seniors in Fort Lauderdale. Mount Hermon Apartments comprises 104 units, ranging from one-bedroom to two-bedroom layout plans. Residency is reserved for seniors 62 and older who earn at or below 25 percent of the area median income (AMI) and 60 percent of the AMI. According to ConnectCRE…
South Florida shopping center spree continues with $18M Broward sale
North Miami-based investors acquired Davie Square and Denny’s outparcel Investors can’t get enough of South Florida shopping centers these days. The latest deal features SouthEast Properties selling a Davie retail plaza it developed more than a quarter of a century ago for $17.8 million. An affiliate of Deerfield Beach-based SouthEast, led by Jay Geiserman, sold Davie Square…
Investor buys shopping plaza, self-storage in Pembroke Pines for $16M
Andrew Perkins has been scooping up South Florida retail since at least 2022 Commercial real estate investor Andrew Perkins bought a shopping plaza and self-storage property in Pembroke Pines for $15.5 million. Perkins Realty Management purchased the 64,300-square-foot Sheridan Village Center at 16602-16660 Sheridan Street, according to the broker’s news release.
Longpoint sells Broward County industrial portfolio for $70M
Boston-based firm sold nine warehouses for nearly $19M above previous sale price in 2021 Longpoint sold a Broward County warehouse portfolio for $69.9 million, roughly $19 million more than the previous sale price four years ago. In the largest of three separate deals, an affiliate of Newport Beach, California-based MIG Real Estate paid $29.9 million for a 124,227-square-foot…
New York developers plan 75-key boutique hotel in Fort Lauderdale Beach
A New York City-based development team plans to build 42 Hotel, a 15-story, 75-key hotel in Fort Lauderdale Beach. The developers, who won site-plan approval for the boutique hotel development on Monday, expect to open 42 Hotel in 2027. The aim is to attract mostly leisure travelers, and charge them more than $400 a night, they said. The developers said they plan to start clearing…
Grant Cardone, Penn-Florida team up for possible 101 Via Mizner condo conversion in Boca Raton
JV plans to buy 366-unit Boca Raton multifamily project out of bankruptcy for $235M Grant Cardone and Penn-Florida Companies are teaming up to possibly convert the distressed 101 Via Mizner multifamily project in Boca Raton into condos. At a Thursday hearing, U.S. Bankruptcy Judge Peter Russin will consider a motion by the Penn-Florida entity that owns the 14-story…
Venture X Opens Boca Raton Coworking Location
The 30,000-square-foot flex office at Palmetto Central Campus features reception services and a community lounge area. Image courtesy of Grover Corlew Flex office provider Venture X has opened its newest coworking location at Grover Corlew’s Palmetto Central Office Campus, located at 1489 and 1499 W. Palmetto Park Road in Boca Raton, Fla. The coworking brand will occupy 30k sf…
Construction Moves Forward on 25-Story The Berkeley Palm Beach in West Palm Beach
Construction is moving forward on The Berkeley Palm Beach, a 25-story condominium development underway at 601 and 621 Clearwater Park Road, facing Clear Lake in West Palm Beach. The tower is being developed by Australian Property Group, led by Al Adelson, in partnership with Sympatico Real Estate. Adelson previously led the development of The Bristol…
Lease roundup: Steve Ross’ CityPlace in West Palm Beach lands Reformation, Alo, Bluemercury
Also, a Florentine sandwich shop and a pizza restaurant are on tap for South Beach’s Lincoln Road Related Ross’ Steve Ross with the CityPlace retail complex at 700 South Rosemary Avenue in downtown West Palm Beach (Getty, CityPlace, Google Maps) Billionaire Steve Ross’ CityPlace mixed-use complex in downtown West Palm Beach scored more than 125,000 square feet…
Margaritaville hotel may still come to Riviera Beach
Proposal will compete with rival bids from Related Group, Forrest Development Roughly a year after an attempt to build a Margaritaville hotel fell apart amid allegations of fraud, a developer has again proposed to construct the resort at Riviera Beach’s Marina Village. Robert Sonnenblick, chairman of Pacific Palisades, California-based, confirmed he is among four development teams…
Industrial Construction Hits Decade Low Nationally Amid Tariff Pressures
Analysts point to new tariffs imposed by the Trump administration as a key factor weighing on industrial development. This slowdown could undermine earlier expectations of a strong rebound in 2026. New industrial starts in 2025 may sink to their lowest level this decade, having totaled just 86.9 million square feet this year through May, according to…
Video: RealPage Chief Economist Carl Whitaker Provides Multifamily Market Outlook for 2026 & Beyond
America’s Commercial Real Estate Show recently delved into the multifamily market, a sector that continues to generate significant interest among investors. In this episode, the show host engaged in a fascinating conversation with Carl Whitaker, Chief Economist with RealPage. The episode kicked off with a reference to the upcoming 2025 C5 Plus CCIM Global Summit…
New bill proposes legal path for 900,000 undocumented construction workers
The construction industry keeps adding jobs in South Florida despite a skilled labor shortage in the region. The CEO of the Hispanic Construction Council, George Carrillo, leads a national nonprofit focused on addressing construction workforce gaps. He said that a large portion of the workers are from other countries. “When we think about the other critical component…
A Double Whammy for the Office Sector Nationally
Highlights: The U.S. office vacancy rate reached another all-time high in the second quarter of 2025 at 20.7%. Similarly, the office-backed CMBS conduit delinquency rate was at an all-time high of 14.26% in June 2025. Although 2024 reported the sharpest annual increase in the office-backed CMBS delinquency rate, concerningly, the first six months of 2025 reflected the fastest…
Commercial property pros focus on incentives in sweeping federal tax and funding law
Commercial real estate professionals expect the sweeping $4.5 trillion federal tax and funding bill signed into law by President Donald Trump to have some positive effects on the property industry. The measure signed into law over the holiday weekend expands tax breaks that executives said could boost investments in new affordable housing and provide more opportunities…
Apartment Development in Opportunity Zones May Matter for Inflation
Legislation introduced during the first Trump administration sought to incentivize investment in low-income areas of the U.S. through tax benefits. One measurable result was a surge in apartment development within these Opportunity Zones (OZs). A shift in housing-supply dynamics draws attention since housing costs influence inflation. Historically, higher-income census tracts…