$1.2B Deal Struck For 15-Acre Development Site On Biscayne Bay The largest piece of undeveloped waterfront in Downtown Miami has found a buyer at a record price. A partnership led by Terra Group and its CEO, David Martin, have agreed to pay $1.225B to purchase the 15.5-acre site at 1431 North Bayshore Drive on Biscayne Bay, […]
Miami board approves designs for Alta condos, Trilogy apartments A pair of residential projects near the Miami River and in Edgewater are closer to moving to the permitting phase. The Miami Design Review Board on Thursday approved plans for River District 14, a proposed condominium by Alta Development on a six-parcel site at 1451 Northwest 14th […]
‘Meticulously Designed’ 24-Story Tower With Micro Units Proposed In Brickell Plans have been filed for a 24-story residential tower in Brickell. According to a letter sent to City of Miami planners, the developer is proposing an urban infill, mixed- use project, in a structure that is “meticulously designed.” The project is proposed to include: 240 […]
Neology Tops Off $100M Luxury Tower in Miami’s Allapattah Neighborhood Development Group Neology Life Development Group has topped off The Julia, a 323-unit luxury multifamily tower in Miami. Designs were provided by Behar Font Architects, and JAXI Builders serves as general contractor. Completion is scheduled for February 2024. Lissette Calderon led Neology broke ground on […]
Attainable Housing Community Opens in Miami Douglas Enclave, a 199-unit attainable housing community in Miami, has opened its doors to residents. The Astor Cos. received the development’s temporary certificate of occupancy from the City, expecting a final one in the next 60 days. Douglas Enclave comprises a mix of workforce and affordable units, as well […]
Federal Reserve raises interest rates by a quarter point, keeping inflation in crosshairs The Federal Reserve is raising its key interest rate by 0.25%, continuing on its crusade against inflation while warning that recent instability in the banking sector could weigh on the economy. In announcing their ninth consecutive rate hike — which increases the benchmark […]
Ruger proposes 76-room hotel near Miami Beach Convention Center Ruger Holdings KG plans to convert an apartment building near the Miami Beach Convention Center into a hotel, The Real Deal has learned. On Monday, the Miami Beach Preservation Board will consider Cologne, Germany-based Ruger’s proposal to renovate and partially demolish Riviera Plaza, a Mediterranean Revival building […]
Developer Announces Plans For 111-Unit Visions At Brickell Station Plans for a new condo-hotel have just been revealed in Brickell. Urban Network Capital Group said in a press release yesterday that it had acquired three parcels located at 1120, 1130 and 1136 SW 3rd Avenue in Miami for a combined $8.5M. The developer plans an […]
24M-Square-Foot Downtown Miami Metrocenter Moves To RFQ Phase The massive Metrocenter project in downtown Miami has moved to the Request For Qualification phase, according to the SFBJ. RFQ packages were issued February 10, the report said. After development teams are selected in the RFQ, a Request For Proposals will be issued to get detailed development […]
Terreno To Develop $491M Industrial Project At Countyline Corporate Park In Hialeah Terreno Realty Corp. intends to further expand at Countyline Corporate Park, a 620-acre master-planned industrial campus developed by Florida East Coast Industries in Hialeah. According to a Securities and Exchange Commission Filing from February 9, Terreno plans to pay $173.6 million for a […]
Revealed: 44-Story West Eleventh Residences Planned In Park West PMG, Michael Simkins’ Lion Development Group, and Marc Roberts Companies have just announced plans for a Park West tower called West Eleventh Residences, to be developed in collaboration with Airbnb. West Eleventh Residences will rise 44 stories, with architecture by Sieger Suarez Architects. The ground floor […]
John Buck JV Acquires Miami Site for TOD Project Miami Station. Image courtesy of Berkadia The John Buck Co., in a joint venture with Florida Value Partners, BH Group and PEBB Enterprises, has acquired a 1-acre site in downtown Miami for $39.5 million. The Chicago-based developer intends to build a mixed-use tower, dubbed Miami Station. […]
Edgewater project more than doubles units to 1,300 in 42-story towers A major mixed-use residential project already in progress has expanded and will bring another 800-plus residential units to Miami’s Edgewater neighborhood. Developer-owner 1900 Biscayne Property Owner LLC and 2000 Biscayne Fee Owner LLC recently presented their latest project to the city’s Urban Development Review […]
L&L Holding, Oak Row Equities Obtain $215M Construction Financing for Mixed-Use Development in Miami L&L Holding Co. and Oak Row Equities, with project partner Shorenstein Properties and co-investor Claure Group, have obtained $215 million in financing for the construction of The Wynwood Plaza, a mixed-use project in Miami. Construction will begin on the 1 million-square-feet […]
Fed’s Beige Book Brings Some Positive Signs on Inflation From mid-November through December last year, the gap between labor supply and demand appeared to narrow, and nonlabor cost increases slowed, according to the Federal Reserve Bank of Atlanta’s new Beige Book report of economic conditions in the Southeast. Broadly, economic activity grew gradually as retailers reported […]
Metronomic loses Coconut Grove project in foreclosure sale Developer Metronomic lost its completed Coconut Grove apartment project in a foreclosure sale, adding to its financial woes of recent years. Wilmington Trust, the largest creditor on GroveHaus, sold the 10-unit building at 3265 Bird Avenue for $8.1 million in a foreclosure sale to Bolonki LLC, an […]
