Apr 10, 2015 - 0 Comments - Top Stories -

Miami Commercial Real Estate News April 10, 2015

Downtown Miami Buildings at NightPhotos of Construction Underway At Melo Group’s 647-Unit Aria On the Bay

With foundation work underway, Melo Group’s 50-story Aria On the Bay has been added to our TNM Index of projects under construction.  At 647 units, it packs one of the highest amount of residential units into a single condo tower of any currently under construction in Miami. Tibor Hollo’s Panorama Tower…

All Aboard Florida Finalizing Plan for 3 MiamiCentral On CRA Property

All Aboard Florida has submitted plans for 3 MiamiCentral, a mixed-use development in Overtown.  The project is planned to be built on a CRA-owned 1.89-acre lot located at 160 NW 7th Street. The CRA approved a long term lease with the company in 2013, allowing a project to be built on the site.

Angler’s Hotel Expansion Now Underway In South Beach

Construction is now underway on a project that will expand Washington Avenue’s popular Angler’s Hotel in South Beach.  As part of the project, 84 new rooms will be added to the hotel, which currently only has 45 rooms. The expansion also includes 3,000-square-feet of ground floor retail space, as well as 1,250-square-feet of meeting space.

Work Underway At 372-Unit Broadstone Brickell Project

Moss Construction has started work on the Broadstone Brickell project.  The project includes 372 rental units. It is being built by Alliance Residential, which also has the 418-unit SoMa at Brickell under construction nearby.  Broadstone will rise 24-stories, or 253-feet. Amenities for residents include a pet grooming spa…

52-Story Tower Above MPA Garage In The Works, Would Add 432 Downtown Units

A residential tower that would rise above an existing parking garage in downtown Miami is being prepared for submission to Miami’s Planning Department for review.  In 2013, the Miami Parking Authority board approved a deal with Downtown 56, LLC to redevelop the garage, located at 70 SW First Street. The garage is known…

Investigative Report: County gets a slap from the FIND Commission on Parcel B

Parcel BThis is the famous Parcel B owned by the County (The City of Miami sold it to them), always zoned parks. In a referendum to get the Heat Arena property, multi-billionaire Micky Arison promised it would be a soccer field. The County went to the Florida Inland Navigation District (FIND) to get…

Comment of the Day: “In the new plans for Biscayne…

“In the new plans for Biscayne Boulevard, what is happening to the Royal Palms? They were planted in 1926, each in memory of a World War I veteran who died. Any destruction of the Royal Palms of Biscayne Boulevard would be a betrayal. The new plans don’t even have many Royal Palms visible, when…

Marine Stadium Update: With the ‘Friends of the…

With the ‘Friends of the Miami Marine Stadium’ out of the picture, the City of Miami is trying to save the deal to host the boat show there, while preserving the stadium itself and avoiding a lawsuit from traffic-fearing Key Biscayne. A massive asphalt lot the city is building for the boat show could…

Doing it in public: Twenty Interesting Ideas to Improve Miami’s Public Spaces

Miami’s First ‘True’ Public Square?  Last week marked the official deadline for The Miami Foundation’s Public Space Challenge. Throughout the past month, Miamians submitted ideas on how to address our city’s lack of functional, communal, and truly accessible public spaces. To compare with global…

Construction Watch: The Frost Museum of Science…

The Frost Museum of Science has surpassed its 50 percent construction mark and is just over a year from its opening season, planned for summer 2016. The planetarium sphere is enclosed, the Gulf Stream Tank is getting shark-ready, and the ‘living core’ is getting ready to host life. New photos from…

Sittin’ on the walk of the bay: Related is Paying for the Biscayne Line, Miami’s Great Baywalk

Three key players behind the Biscayne Line—a name that was originally limited to just the section of baywalk that the Related Group is spearheading through Edgewater but is evolving to mean the entire seven miles of Miami’s future baywalk system, as well as five…

I Cover the Waterfront: In his monthly column in…

In his monthly column in Tropic Magazine, Curbed Editor Sean McCaughan looks at how the past year has been living without a car. The answer: because of living in the right area, services like Uber and Citi Bike, and working out of the house, not bad. Not bad at all…

New rental apartments in Broward outpacing demand: report

The stock of newly built apartments in Broward County is growing faster than demand, and vacancy rates are expected to rise this year, according to a recent report by Marcus & Millichap.  With 3,500 new units…

Blackstone, Wells Fargo close to acquiring most of GE’s $30B real estate portfolio

From the New York website: General Electric is close to selling most of its $30 billion real estate portfolio, and top candidates to buy include Blackstone Group…

Duke Realty sells Broward portfolio for $175M

Indianapolis-based Duke Realty recently sold a 940,319-square-foot Broward office portfolio.  Duke Realty affiliates sold nine properties to Starwood Capital, Trinity Capital Advisors and Vanderbilt Office Properties for $175…

The Good News About Florida CRE Insurance

Franklin Street’s Tom Kersting gives GlobeSt.com’s Jennifer LeClaire his predictions for the insurance market in Florida in part two of this exclusive interview series….

White Hot South Beach Retail Hits Market

This asset sits in one of the highest barrier-to-entry submarkets in Miami Beach. Get all the…

Duke Trades South Florida Portfolio to Starwood Capital for $178M

Starwood Capital Group closed a deal worth more than $178 million with Duke Realty for an office portfolio in Sunrise and Plantation…

FBI Opening New $194 Million South Florida Office

The FBI is officially opening its new South Florida field office at a suburban Broward County building that consolidates far-flung operations…

Rents Up: Cheaper to buy than rent in Miami-Dade County

Buying a home in Miami-Dade County could be cheaper than renting, according to a new study from RealtyTrac.
The study looked at the affordability of renting versus buying a three-bedroom home, and based its findings on how much each option would cost as a percentage of the median income of an area.

Affordable housing project in Fort Lauderdale to open Friday

The Village Place Apartments, a $125 million affordable housing project for seniors in Fort Lauderdale, is set to open on Friday.  The 112-unit project was developed by the Housing Trust Group of Miami, which bought the land in 2013 for $2.8 million and finished construction earlier this year.

Miami the Fifth Least Affordable for Renters

Start to feel nervous around the first of the month when the landlord comes to collect the rent check? You’re probably far from alone in Miami-Dade. It’s no secret that rents have started to skyrocket recently — they weren’t exactly cheap before — but things have gotten so bad that Miami-Dade is now the fifth least affordable county…