Live Local Project The HueHub with 4,000 Units Moving Through Site Plan Approval
A massive Live Local development is continuing through the site plan approval process. The development name is listed as The HueHub in plans prepared by architect Arquitectonica and submitted to the county. The first site plan application for The HueHub was submitted in July. Yesterday, the third version of plans was submitted following the first several phases of review.
The Residences At 1428 Brickell Gets Master Construction Permit
Developer Ytech has been issued a master construction permit for The Residences at 1428 Brickell. The development is now on track to begin going vertical and make its impact on the Miami skyline. By obtaining a master permit first, the developer ‘underscores its commitment to delivering the project on schedule without compromise.’
Brickell City Centre Retail Remains 100% Leased At The Start Of 2025
Swire Properties says that its popular Brickell City Centre shopping mall continued to remain 100% occupied at the end of 2024. It is the second year in a row that the shopping center was 100% occupied. Brickell City Centre’s mall was also listed as 100% occupied at the end of 2023. That was the first time it had ever reached 100% since the complex opened in 2016.
$185M Rainbow Village Breaks Ground Next To Wynwood
Construction is now underway at Rainbow Village, according to a press release. The $185m mixed-use development is being built on county-owned land at the border of Wynwood in Overtown. Rainbow Village will include: 310 affordable housing units almost 12,000 square feet of retail more than 50,000 square feet of amenity space 442 parking spaces Units will be income restricted…
Contractor Selected For Riverside Wharf, Groundbreaking June
The developers of Riverside Wharf have selected a contractor and announced a groundbreaking date, according to the Herald. The project is now said to be valued at $300m. Moss Construction will serve as the General Contractor for the development. Groundbreaking is planned for June, with completion planned for 2027. Riverside Wharf will include a 167-room Dream hotel…
It was a spot to party on the Miami River. Now a hotel, club and raw bar are moving in
A slice of land on the Miami River where people had gathered to party, drink, do Sunday yoga and eat food truck fare will be transformed into a major waterfront development featuring a hotel, entertainment complex and an offshoot of a popular seafood house. The Wharf Miami closed in August 2023, but details and a timeline of what’s next for the now-vacant site…
World’s Largest Cruise Terminal Opens At PortMiami
MSC’s new terminal at PortMiami welcomed passengers for the first time on February 8. Currently, the terminal isn’t yet fully completed, around three years after groundbreaking. When it is full operational, the terminal will be able to handle three ships and 36,000 passengers simultaneously. There are reports suggesting that the cost to built the terminal has increased from $350M…
New Renderings & Sales Records For Brickell’s Mandarin Oriental Residences
Swire Properties has released new renderings and announced new sales milestones for The Residences at Mandarin Oriental in Brickell. The development will include two towers, one rising 850 feet with 228 residences and another rising 426 feet with 66 private and 28 hotel residences, along with a flagship Mandarin Oriental hotel. Condo units have been selling for a blended…
661-Unit Metro Parc North Transit-Oriented Development in Hialeah Breaks Ground
A groundbreaking ceremony took place yesterday for Metro Parc North, a transit-oriented development. The development will be a highly amenitized, Class-A building – said to be one of the first of its kind in the Hialeah area. It will have 661 rental units, and over 15,000 square feet of retail. The development will be located on a full city block steps away from the Tri-Rail/Metrorail…
Baron Begins Hialeah Luxury Project
Baron Property Group, a Miami- and New York-based developer, has broken ground on a 661-unit luxury multifamily property adjacent to the Metrorail station in Hialeah, Fla. Metro Parc North will rise next to Hialeah Hospital, one of the largest hospitals in Florida. Located at 983 E. 26th St., Metro Parc North is next to Metro Parc, Baron Property Group’s 559-unit mixed-use…
Kendall Parkway development back on fast track
A long-stalled bid to cut driving time from West Kendall to downtown by adding 13 miles to SR 836 is set to rev up after the county pulled out of a war over control of five tollways. Commissioners voted unanimously last week to exit the fight, clearing the way for the Greater Miami Expressway Agency to put Kendall Parkway construction in high gear.
Miami’s Bayfront Park may come under park department control
Miami officials are considering dissolving the agency responsible for overseeing the operations of downtown’s two waterfront parks and transferring its duties to a new division within the city’s Parks and Recreation Department. The Miami City Commission is to review legislation today (2/13) that would repeal part of the city code that established the Bayfront Park…
Commissioners To Vote On Abolishing Bayfront Park Management Trust
Miami Commissioners are scheduled to vote on a resolution that would abolish the Bayfront Park Management Trust. The trust was initially created to manage Bayfront Park. Later, the trust took control of Museum Park (which the city officially now calls Maurice Ferre Park). A total of three commissioners must vote in favor in order for the trust to be abolished…
Miami aims to preserve the green at new Freedom Park
As work on Miami Freedom Park progresses, the City of Miami is taking steps to secure funding for the upkeep of the 58-acre public park promised as part of the development deal. Miami commissioners are to vote today (2/13) on two key measures designed to secure funding for maintaining and enhancing the expansive green space guaranteed as a public benefit of the Miami…
Careful logistics let PortMiami handle record 13 ships in a day
Preparations and planning were the framework for smooth sailing when PortMiami seamlessly welcomed a record number on ships on a single day on Saturday in a dress rehearsal for even more ship traffic. Feb. 8 was a historic day at the port, said Hydi Webb, PortMiami director and CEO, as, for the first time, 10 cruise ships and three cargo ships were at the port at the same time.
Revolutionary vertical air cargo hub at MIA is five years away
A revolutionary vertical center that will increase Miami International Airport’s cargo capacity by 50% is working through 18 months of due diligence before construction can begin, with actual operation of the center still five years away, aviation officials say. A 40-year lease for Miami Gateway Partners to spend $400 million to develop and then operate the cargo center…
661-Unit Metro Parc North Breaks Ground in Hialeah
Baron Property Group has officially broken ground on Metro Parc North, a 661-unit residential development in Hialeah. Designed by Modis Architects and built by KAST Construction, the project will introduce Class-A multifamily housing with a range of amenities, located adjacent to the Metrorail station and Hialeah Hospital. Completion is expected in Q3 2027….
$35.5M Loan for Moxy Miami Wynwood Hotel Arranged
Atlanta-based Hunter Hotel Advisors has arranged a $35.5 million loan for the recapitalization of the Moxy Miami Wynwood, a 120-room hotel that opened in October. The developer of the eight-story hotel was a 50/50 joint venture between Baywood Hotels and Dolphin Capital Partners. Charlie Ryan and Adeel Amin of Hunter’s capital markets team arranged the loan through…
Baywood, Dolphin Capital score $36M loan for Wynwood’s Moxy hotel, as they bring in new partner
When DolphinBay Hospitality sold a majority stake in the Moxy Miami Wynwood hotel recently, the joint venture also secured $35.5 million in new financing. DolphinBay… The same day, Istanbul-based Süzer Group paid $99 million to become 52 percent owner of the recently completed 120-key hotel at 255 Northwest 25th Street. Charlie Ryan and Adeel Amin…
The Residences at Mandarin Oriental, Miami Reveals 100K SF of Amenities
Swire Properties has unveiled the first images of the extensive amenities at The Residences at Mandarin Oriental, Miami, located on Brickell Key. The development offers over 100,000 square feet of resort-style amenities within a lush, multi-tiered podium designed by Thai landscape firm Shma. The Residences will feature 11 pools—the most in any new Miami development…
Lennar Plans 178-Unit Townhome Development in Hialeah, FL
Lennar is under contract from Miami Lakes-based Ita Regio LLC to purchase an 18.2-acre property in Hialeah, FL. The South Florida Business Journal reports that 15.2 acres could be developed into a single-family housing development that would feature 178 townhomes. Every home would offer three bedrooms, and the complex itself would offer 356 surface parking spots…
In Park West, 65-Story E11EVEN Tower Has Topped Off
The first 65-story tower at E11EVEN Club Hotel & Residences has topped off. Developer PMG and E11EVEN Partners are building the dual-tower development in Park West. The first tower, E11EVEN Club Hotel & Residences, features residences and hotel rooms, while the second tower, E11EVEN Club Residences Beyond, offers condominiums. A foundation pour for the first tower…
Brickell’s Mercedes-Benz Places Launches Sales For Tower 2
Mercedes-Benz and JDS Development Group have launched sales for Tower 2 at Mercedes-Benz Places. The 67-story building is already under construction. The design of the cuboid tower is said to embody the Mercedes-Benz brand aesthetic. “We are transferring our significant automotive design expertise into architecture and with that make a strong…”
171-Unit Domus Brickell Park Tops Off
Domus Brickell Park has become the first development in Brickell to top off this year. With the shell now complete, the tower is on track to obtain a temporary certificate of occupancy by the end of 2025, with its hotel and residences on schedule to open in Q1 of 2026. The 12-story development will include 171 fully furnished, short-term friendly units. More than 60% of units…
New Edgewater Tower Submitted To FAA At 333 Feet
The planned height for Metro Edgewater’s second tower has been submitted to the FAA. Metro Edgewater’s first 32-story tower reached completion in 2023. The second tower, Metro Edgewater 2, was first revealed in a hearing before the Urban Development Review Board in 2024. It is planned to rise 28 stories. The height will reach 333 feet above ground, or 341 feet above sea…
Witkoff to revive Blavatnik and Scher’s long planned Ocean Terrace project in Miami Beach
Witkoff Group formed a joint venture with Ocean Terrace Holdings, reviving development plans for a mixed-use luxury condo project in North Beach, The Real Deal has learned. Witkoff, led by Chairman Steve Witkoff and his son, CEO Alex Witkoff, is joining existing partners Alex Blavatnik and Sandor Scher on Ocean Terrace in Miami Beach. The new partnership closed on…
E11EVEN® Club Hotel & Residences Tower One Tops Off in Downtown Miami
Construction has officially topped off at E11EVEN® Club Hotel & Residences Miami, marking a significant milestone for the dual-tower luxury development rising in Downtown Miami’s Park West neighborhood. Developed by PMG and E11EVEN Partners, the project is redefining resort-style, entertainment-driven living in the city’s evolving urban core….
MG, Vertical launch condo sales for Alhambra Parc in Coral Gables
MG Developer and Vertical Developments are launching sales for their planned Coral Gables project, Alhambra Parc. The 78-unit condominium is planned for 33 Alhambra Circle, according to a press release. MG Developer, led by Alirio Torrealba, landed a $14.5 million preconstruction loan for the project in October. Torrealba partnered with co-developer…
BGO & Dermot Complete Solar Panel Installation at Cordoba in Downtown Doral
BGO and The Dermot Company have completed the installation of a $1.7 million solar energy system atop the parking garages at Cordoba, a 454-unit apartment community in Downtown Doral. The new system is expected to generate enough electricity to cover 50% of the energy needs for the property’s common areas, including its amenity spaces….
Reserve Padel Opens First Permanent Club at SoLé Mia in North Miami
Reserve Padel has officially opened its first permanent club at SoLé Mia, a 184-acre master-planned community in North Miami developed by LeFrak and Turnberry. Located at 2251 NE 146th Street, the new 100,000-square-foot facility features ten professional padel courts, including six outdoor and four indoor courts with 35-foot ceilings, along with two dedicated pickleball…
Aconcagua Developers Proposes 162-Unit Apartment for 12867 S.W. 248th Street in Homestead
Miami-based Aconcagua Developers has proposed a mid-rise housing development in southern Miami-Dade County. The unnamed complex would measure eight stories and feature 162 units. Residences would include one-bedroom and two-bedroom floorplans, measuring 590 to 985 square feet each. Communal amenities would feature a dog park and ground-floor swimming pool.
A developer proposes a 162-unit apartment project in Princeton, amid a continued rush on south Miami-Dade County. Aconcagua Developers wants to build an eight-story building on a 3-acre site on the northwest corner of Southwest 248th Street and Southwest 128th Avenue in an unincorporated area of the county, according to an application filed late last month.
BH adds to portfolio, pays $83M for waterfront North Bay Village apartment complex
BH Group expanded its South Florida portfolio once again, dropping $83 million for a waterfront North Bay Village multifamily project. The Aventura-based firm acquired Wake Biscayne Bay, a complex of three 10-story buildings with 338 apartments at 7501 and 7525 East Treasure Drive, confirmed Isaac Toledano, who leads BH along with his wife, Liat Toledano.
Permit Issued For $2M Island Gardens Sales Center
A construction permit has been issued for a temporary sales center on Watson island. The structure will likely be used to sell condos at an upcoming development. The name on the permit is listed as Island Garden Sales Center. Miami’s Building Department issued the construction permit last month. The temporary facility will have two floors, rising 26 feet in height…
Related Urban wants to bring mixed-income apartments to Coconut Grove
Related Urban is eyeing a public housing site in Coconut Grove for a mixed-income multifamily project. The Miami-Dade County Commission housing committee on Tuesday will review a resolution that would authorize Mayor Daniella Levine Cava’s staff to begin negotiations with Related Urban, led by President Albert Milo. The firm is seeking a 99-year lease…
831-Foot Building Proposed In Downtown Miami
A filing has been submitted to the Federal Aviation Administration for an 800+ foot building in Downtown Miami. The filing was submitted on February 3. It requests approval to build a tower rising to a height of 831 feet above ground, or 840 feet above sea level. The site coordinates submitted with the filing appear to be the same as the Clear Residences property.
Developer Celal Ozkan filed for bankruptcy on his North Miami Beach development site for a 341-unit apartment tower, marking the latest in his nearly yearlong dispute with the lender. Sky Gardens Residences, an entity tied to Ozkan, CEO of Turkish firm CEO Contract, is pursuing Chapter 11 reorganization on the 1-acre site at 16300 Northeast 19th Avenue.
With Over 75% Of Units Sold, The Perigon Miami Beach Gets $390M Loan
The developers of The Perigon Miami Beach have reached a sales milestone and obtained a massive construction loan, More than 75% of units have been sold, the developers said. Construction financing totaling $390 million has been issued by Eldridge Real Estate Credit. The Perigon will include 73 ultra-luxury condos. The building is being designed by OMA, led by architect…
The Last Carrot in Coconut Grove Forced to Relocate After 50 Years
After 50 years of serving the Coconut Grove community with fresh veggie sandwiches and healthy bites, the Last Carrot must relocate come November. According to Coconut Grove Spotlight, Coral Gables-based developer Allen Morris Company is slated to knock down the tiny strip mall located at 3133 Grand Ave., the home of the Last Carrot, to build a five-story, mixed-use office…
Poof! Judge dismisses foreclosure lawsuit against Masoud Shojaee
In one of the shortest lived foreclosure actions, City National Bank of Florida resolved a loan dispute with developer Masoud Shojaee in less than a month. On Jan. 24, Miami-Dade Circuit Court Judge Beatrice Butchko Sanchez approved the Miami-based bank’s motion to dismiss its lawsuit. Three weeks earlier, City National filed the complaint against Shojaee and an entity…
Launch party at Mercedes-Benz Places oozes pre-pandemic energy
Ugo Colombo walked into the Mercedes-Benz Places sales center launch wearing sunglasses with a light orange tint. Colombo glided through the building, sizing up the finishes for the planned Brickell condo project. The car enthusiast — he owns the luxury car dealership the Collection — is rarely seen at industry events. He was among a handful of developers and hundreds…
Tech firm Kandji will open its East Coast headquarters in Coral Gables. Kandji, which provides automation-forward Apple device management software, leased 30,000 square feet at 2811 Ponce de Leon Boulevard at The Plaza Coral Gables, according to the tenant’s news release. It will open on March 5. The San Francisco-based firm is led by CEO Adam Pettit.
Equinox preleases 31K sf at Oak Row’s Edgewater project, as it expands in South Florida
Equinox will open at one of Oak Row Equities’ mixed-use multifamily projects in Miami’s Edgewater, as it expands in South Florida, The Real Deal has learned. Equinox preleased 30,700 square feet at the 2600 Biscayne tower at 2600 Biscayne Boulevard, according to representatives for the tenant. The luxury gym is expected to open late next year or early 2027.
The Calta Group, led by brothers Ignazio and Gaetano Caltagirone, has announced closing a $53.693 million construction loan for two new rental apartment projects in Hollywood, Florida: Caltopia Hollywood and Caltopia Hollywood II designed by Kaller Architecture. The loans were provided by Forman Capital, under the leadership of Scott Mehlman, with advisory…
The Caltagirone brothers’ Calta Group scored a $53.7 million construction loan for a pair of Hollywood apartment projects with a total of 251 units. The deal comes as South Florida is dealing with a multifamily supply overhang following a yearslong construction flurry. Coral Gables-based Calta plans the 151-unit Caltopia Hollywood on a nearly 2-acre site at 2750 Van Buren Street…
Developer Raimundo Onetto plans a 466-unit wellness-focused condo project near the Hollywood Beach Golf Club, shifting from his previous plan for apartments, The Real Deal has learned. Onetto’s Miami-based Alta Developers will build Gaia Residences as a pair of 18-story towers with 72,000 square feet of amenities on a roughly 2-acre site at 401 North Federal Highway…
Craig Zinn Automotive Group paid $14.5 million for a Hollywood church building that’s near its existing Toyota dealerships. The Hollywood-based auto dealer, led by CEO Craig Zinn, bought the one-story, 51,700-square-foot building at 1800 North State Road 7 from Hope Church of Christ, according to records and real estate database Vizzda. The building…
Miami Heat Co-Owner Raanan Katz Buys Pembroke Pines City Furniture Store For $15 Million
As someone who closely follows South Florida’s retail and real estate scene, I was intrigued to learn that City Furniture has decided to sell one of its Pembroke Pines locations. This property, located at 11211 Pines Blvd., just traded hands for $15.24 million. The buyer? RK Centers, a firm led by Miami Heat minority owner Raanan Katz—which already owns neighboring…
Miramar Commerce Park Gets New Pharma HQ
Miramar Park of Commerce comprises more than 5 million square feet across numerous low-rise buildings. Image courtesy of CommercialEdge Nearly two years after acquiring Aveva Drug Delivery Systems, DifGen Pharmaceuticals has relocated its corporate headquarters from Princeton, N.J., to Miramar Park of Commerce in Miramar, Fla.
Stiles Corp. Seeks Rezoning Request for Apartment Complex at 8201 to 8151 Peters Road in Plantation
Fort Lauderdale-based Stiles Corp. wants to proceed with a multi-family housing development in Plantation, FL. Currently, it’s seeking approval for a land use amendment and rezoning request of a 22.3-acre property––4.3 acres of which could host the new complex. Plans call for 385 apartments. Configurations include one-bedroom to three-bedroom models…
Boca Raton selects developers to build city hall campus
Two South Florida real estate development companies beat out Related Ross as the city of Boca Raton’s preferred partner to redevelop 30 acres of publicly owned land. The Boca Raton City Council unanimously ranked Boca Raton City Center LLC, a joint venture of David Martin’s Miami-based Terra Group and Palm Beach-based Frisbie Group, as the No. 1 choice…
Condo owners at La Clara in West Palm Beach were promised a luxurious experience with high-end finishes “smooth and free of imperfections.” But now they’re alleging the finished product was anything but that. The condo association representing owners at the waterfront tower is suing the developer, an affiliate of Toronto-based Great Gulf, and the design…
First look: Vanderbilt reveals renderings for planned $520M West Palm Beach campus
Vanderbilt University revealed renderings offering a first look at its planned $520 million West Palm Beach campus. The proposed campus will span a total of 300,000 square feet, with the aim to serve 1,000 graduate students in tech and business programs when it is completed, according to a press release. Vanderbilt, known as “the Harvard of the South,” tapped Boston-based Elkus…
Climate Change and the Future of U.S. Real Estate: $1.47 Trillion at Risk The U.S. housing and commercial real estate markets are on the verge of a major transformation as climate risks escalate. According to a recent study by First Street Foundation, discussed here by First Street’s head of climate implications research Jeremy Porter, extreme weather patterns and rising insurance…
The Atlanta Fed’s REIN Team Looks Back at the Economy in 2024
As 2025 begins, the Atlanta Fed’s Regional Economic Information Network (REIN) looked at 2024 in the rearview mirror using what firms told us over the course of the previous year. Here are our key takeaways, which we will elaborate upon in this article: Growth in demand eased from pandemic-era highs, settling at more historically normal levels. Labor tightness has eased…
Housing affordability discussions have become commonplace across the country resulting from long-term housing supply challenges since the Great Financial Crisis (GFC) and short-term economic volatility through the pandemic and subsequent inflationary period. Despite possessing a variety of local housing ecosystems across America’s metros, housing affordability challenges…
Lee & Associates’ 2024 Q4 North America Market Report looks back at the tenant demand, absorption rates and vacancy trends for industrial, office, retail and multifamily sectors nationwide to extrapolate what might be on the horizon for 2025 and beyond. While net absorption in industrial and retail is down from the same period in 2023, the reasons — too much…
Nationally, Five Apartment Communities Sell for Roughly $250 Million or More in 2024
Following record-setting sales in 2021 and 2022, investments in U.S. apartments plummeted in 2023 amid the rising cost of debt and economic uncertainty. However, sales picked back up in 2024. During the year, five apartment communities changed hands for roughly $250 million or more. A total of 5,700 apartment properties changed hands across the U.S. at a value…
Office Loan Maturity Monitor: Another Year in the Books. What Lies Ahead?
Highlights: $487.5 million of CMBS office loans reached fully extended maturity in December, bringing the total for 2024 to $15 billion 27.5% of the loans maturing in December paid off, the third lowest monthly rate of 2024 Full year 2024 saw minimal improvement over 2023, with the full-year payoff rate climbing from 35.9% to 38.5% Debt yield was far and away…