Hollywood to consider tower by Related Group, 13th Floor and Key International
A trio of developers are seeking approval to build the Hyde Beach House hotel and condominium in Hollywood. The city’s Planning and Development Board will meet on July 9 to consider the proposal by PRH 4000 South Ocean LLC, a joint venture between Miami developers the Related Group, 13th Floor Investments and Key International.
Email points to broader probe of Miami affordable housing developers
A revealing email spotlighted in a recent federal criminal complaint charging a Miami developer with stealing government money for affordable housing makes a strong case that prosecutors are aiming at bigger targets. The May 2009 email shows how the alleged plot was hatched between two of the most prominent development…
A Sneak Peek at SLS LUX Brickell, Opening in 2017
SLS LUX’s mission is to “indulge the senses,” though “sense the indulgence” also comes to mind. Especially in Miami, with all eyes – certainly ours – on the upcoming SLS LUX Brickell Hotel & Residences. The dynamic duo of sbe and The Related Group, along with partner The Allen Morris Company, can already boast a sellout crowd…
Miami’s Grove Station Shops bought for $12.1M
The Grove Station Shops in Miami’s Coconut Grove neighborhood was purchased for $12.1 million. Marlin Family, a Miami-based company managed by Ann D. Bowen, sold the 18,962-square-foot plaza at 2720 S. Dixie Highway to MAC Grove Station LLC, managed by Michael Comras, of Miami Beach-based Comras Co.
Marriott property in Doral trades for $10.4 million
A Residence Inn by Marriott in Doral sold for $10.4 million, according to Mami-Dade County property records. The 112-key room property at 1212 N.W. 82nd Avenue is no longer under the control of Marriott, according to a representative from the company, meaning the building will likely be rebranded by its new owners.
Palace assisted living center awarded $27M construction loan
The Palace, a high-end assisted living center, obtained a $26.86 million construction loan for its Homestead location. TD Bank awarded the mortgage to the Palace at Homestead LLC, managed by Jacob Shaham. His company also owns the Palace in Coral Gables. The Homestead facility will replace an existing assisted living center…
Casino at Hialeah Park nabs $30M loan from Wells Fargo amid expansion
The Casino at Hialeah Park obtained a big loan to help it complete its expansion. Wells Fargo Gaming Capital, an affiliate of the banking giant (NYSE: WFC), provided a $30 million loan to Bal Bay Management, the owner of the casino and quarter horse race track managed by John J. Brunetti Sr. It’s located on 200 acres at 2200 East 4th Ave.
Schools to issue $200 million in bonds
The Miami-Dade County Public Schools plan to issue about $200 million in bonds this month due to cash-flow needs for district-wide upgrade projects. Up to this point, the school district has been working on smaller projects that were badly needed, but it is rapidly progressing and moving onto larger…
Luxury condos due on water near hospital
A developer hopes to build a new luxury condominium on waterfront property next door to Mercy Hospital in Coconut Grove. The project will require a land use and zoning change, which has gained preliminary approval from Miami commissioners. Two ordinances must receive approval on a final reading late…
A garage like no other has advanced in Miami and will add another 800 parking spaces to the growing Design District. Called Museum Garage, the 7-story building with ground floor retail is planned by Dacra for a stretch of Northeast 41st Street. The city’s Urban Development Review Board on June…
Port Everglades to receive $1.2M for next phase of dredging project
Port Everglade will receive $1.2 million from the U.S. Army Corps of Engineers for the next phase of its dredging project. The next step is the pre-construction engineering and design phase, estimated to cost about $5.6 million. “It has been a long and winding road. But we are much closer to the finish line,” said Port CEO Steven Cernak…
Lester Sola: Spearheading mammoth water and sewer upgrades
Lester Sola always knew he wanted to give back to his community. He worked awhile in banking and construction, but when a professor in his graduate program advised him to apply for county management training in Broward County, Mr. Sola decided to serve Miami-Dade, where he grew up and lived.
County must get Marlins to pay their pittance for stadium
It took less than three years from the time Miami-Dade County approved financing for a baseball stadium for the Miami Marlins to the day it opened in 2012. The Marlins have played 3½ seasons there. Yet it’s still a mystery how much the Marlins are going to pay in the deal. The Marlins…
Streetscape to revamp Miracle Mile
The Coral Gables Streetscape, a $20 million plan to redesign Miracle Mile and a section of Giralda Avenue, is nearing the end of the design phase and construction is expected to begin in January, says Mayor Jim Cason, after a final city commission vote in August. The goal is to revitalize downtown…
Art Basel safe in convention center remake
The $500 million renovation of the Miami Beach Convention Center is to begin in December, but there’s no need for Art Basel fanatics to fret – the art show isn’t going anywhere. Construction is to be completed in phases, each circling around the art show’s annual return.
Aventura ParkSquare’s 40,000 SF Medical Wellness Center Unveiled
CREC to lead sales and marketing for the state-of-the-art tower, targeting specialty healthcare tenants.
Video: Emerging From A CRE Funk
So how do you get yourself pumped up and ready to make more deals?
Federal judge tosses out town’s RICO suit against residents seeking public records
Gulf Stream’s legal offensive against residents Martin O’Boyle and Chris O’Hare suffered a huge setback late last month when a federal judge in West Palm Beach threw out the town’s federal racketeering suit against the two men.
Sleeping Around: Beaux Arts Bank-Turned-Hotel The Langford to Open in Sept.
After years of renovation and conversion of an historic bank building, The Langford Hotel will finally be ready this September, and maybe one of the biggest reason yet to venture Downtown after business hours, reports HotelChatter. Built in 1925 and once home to Miami National Bank, the Beaux Arts…
Commercial Real Estate National News Roundup For July 7, 2015
REITs cautious because of possible interest rate hikes, offices surge in some secondary markets, good news and bad news about Atlanta’s CRE, industrial property will be hot for the rest of 2015. It’s all here at the Commercial Real Estate national…
The Summer 2015 Linneman Letter: ‘The Chirping Continues’
This excerpt covers the shrinking of the U.S. economy in the first quarter of 2015, as well as an in-depth discussion of the GDP, employment and other key economic indicators.
Southeast CRE Sees Strong Push Toward This
There’s a clear movement in the Southeast. Judd Bobilin, CEO of Chance Partners, sees is as plain as day….