Terra Breaks Ground on Upland Park in West Miami-Dade, A $1 Billion Transit-Oriented Development
Terra has officially broken ground on Upland Park, a $1 billion mixed-use community that will transform the Dolphin Park-and-Ride Transit Terminal Facility into a 47-acre, transit-oriented development. Conceived in partnership with Miami-Dade County, the project will bolster public transit ridership while anchoring the new East-West Corridor of the County’s SMART…
$1B Upland Park Transit-Oriented Development Breaks Ground
A groundbreaking ceremony was held yesterday for the largest public-private transit-oriented development in Miami-Dade County’s history. Upland Park is being built next to the Dolphin Park-and-Ride Transit Terminal Facility . It is being developed on land that was producing zero public revenues previously. The new development will generate over one billion dollars in new rent…
Miami-Based Developer Proposes Complex with Workforce Housing at 8445 S.W. 94th Street in Kendall
A Miami-based developer has filed a pre-application for a multi-family housing community in Kendall. 8445 Galloway LLC wants to proceed with a six-story apartment building, requiring 53,218 square feet of new construction. Current plans call for 41 residences—10 of which would be designated as workforce housing. According to Miami-Dade County records, a family…
Harvey Hernandez, Two Roads selling piece of Miami River dev site
Developer Harvey Hernandez and Two Roads Development are under contract to sell a portion of their Brickell assemblage along the Miami River, The Real Deal has learned. Miami Beach-based Prosper, a development firm led by Jay Roberts, is working with an undisclosed partner to acquire the 1-acre property at 66 Southwest Sixth Street and 625 Southwest First Avenue…
Development district to finance Freedom Park improvements
The 58-acre public park promised in the Miami Freedom Park project will be backed by a dedicated fund and district, securing its maintenance, while officials are also committing $10 million in future funding to improve parks across the city. During the Feb. 13 meeting, the Miami City Commission approved two resolutions to secure funding for the maintenance…
Noguchi-designed fountain flows again, but higher, in Bayfront Park
Water is once again flowing through the newly renovated fountain at Bayfront Park, where its historic design meets modern enhancements. City officials gathered at Bayfront Park last week for an evening ribbon-cutting ceremony as the sunset and the Mildred and Claude Pepper Fountain’s vibrant, colorful display took centerstage. After decades of disuse, the iconic downtown…
Shoreline Review Application Submitted for 39-Story ‘Isle of Dreams’ at 1400 79th Street Causeway
A shoreline development review application has been submitted for Isle of Dreams, a 39-story mixed-use tower planned at 1400 79th Street Causeway in North Bay Village. Developed by Sunbeam 1400, LLC, an affiliate of Sunbeam Television, and designed by Arquitectonica, the project marks the first phase of the Sunbeam NBV Special Area Plan (SAP), which was approved in 2022.
duPont REGISTRY Group, Fortune International Group, and Pininfarina have partnered to develop duPont REGISTRY Tower, a luxury tower designed for automotive collectors and high-end businesses in Miami’s Magic City Innovation District. The project will merge automotive culture with premium office and lifestyle spaces, offering a first-of-its-kind destination…
South Florida’s older, suburban office buildings ripe for deep discounts and conversions: panel
South Florida’s office market is in the midst of a deep exhale after years of pandemic-fueled momentum, according to members of Avison Young’s top brass. “I think we are taking a breath in South Florida right now,” said Greg Martin, a principal in the brokerage’s Fort Lauderdale/Boca Raton office. “In the last 12 months particularly, the nation has caught up with us.
Developer Proposes ‘Gallery in the Grove’ for 3170 Mundy Street in Coconut Grove
Related Urban Development Group has proposed a high-rise, mixed-income tower in Coconut Grove. The aptly named Gallery in the Grove would measure 20 stories above grade and comprise 248,265 square feet of new construction. It would be one of the tallest buildings in the area. Gallery in the Grove would feature 345 apartments; the South Florida Business Journal shares…
Two Roads’ Edgewater condo buyout at impasse: What could happen next?
It’s been nearly a year since a Florida appellate court entered a ruling in favor of the eight holdout unit owners at a bayfront condo in Miami’s Edgewater, putting the developer’s plans to build a luxury Edition Residences project in limbo. The developer, Miami and West Palm Beach-based Two Roads, and the holdout unit owners at Biscayne 21 still have not reached an agreement.
One Kane Breaks Ground in Bay Harbor Islands, Secures First Tenant BondST
Construction is now underway at One Kane, a 126,000-square-foot Class A office building rising at 9551 E Bay Harbor Drive in Bay Harbor Islands. The seven-story project will introduce Miami’s first office building with private boat access, offering reserved dock slips and boat valet service alongside a suite of high-end amenities. Developed by Taubco and Landau Properties…
Related Urban’s plan for $148M Coconut Grove mixed-income project nabs committee approval
Related Urban’s potential replacement of a Coconut Grove public housing project for seniors with a $148 million mixed-income multifamily project is gaining steam. Miami-Dade County Commission’s housing committee on Tuesday voted unanimously and without discussion in favor of Mayor Daniella Levine Cava negotiating a 99-year lease with Related Urban, led by President Albert Milo…
Indian Creek Residences & Yacht Club Tops Out in Bay Harbor Islands
Indian Creek Residences & Yacht Club has officially topped out in Bay Harbor Islands, reaching its full eight-story height. Developed by Landau Properties and designed by Kobi Karp Architecture & Interior Design, the boutique waterfront condominium is now over 80 percent sold, with only two residences remaining. Closings are anticipated to begin by the end of the year.
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 obtained the loan from Synovus Bank on Jan. 30, records show. 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.
Plans for 68-Story One Brickell City Centre Canceled Amid Market Shifts
Swire Properties has canceled its plans for One Brickell City Centre, a proposed 68-story office tower in Miami’s Brickell neighborhood. The decision comes after challenges in securing sufficient pre-leasing commitments, leading the company to list the 2.8-acre site at 700 Brickell Avenue and 799 Brickell Plaza for sale through brokerage firm CBRE….
Affordable Housing Development ‘Rainbow Village’ Starts Construction at 2000 NW 3rd Avenue in Miami
Construction has started on Rainbow Village, a mixed-use affordable housing complex in Miami. The 310-residence development will offer studio to four-bedroom homes, with the project itself comprising close to 700,000 square feet of new construction. Yield PRO shares that residency will be available to those earning at or below 30, 50, 60, 70, and 80 percent of the area…
Asi Cymbal scored a $114 million refinancing for a 341-unit Live Local Act apartment complex in Miami Gardens, as loans keep flowing in South Florida. Apollo Global Management and RXR Realty Investments provided the loan, which paid off the $102.5 million construction financing for the 14-acre Laguna Gardens at 20775 Northwest 17th Avenue, according to the developer’s news release.
Housing Trust Group Breaks Ground on $185M Affordable Housing Development in Miami
Housing Trust Group has broken ground on Rainbow Village, a $185 million affordable housing development located at 2000 N.W. Third Ave. in Miami. Spanning 698,000 square feet, the community will feature 310 units alongside 12,000 square feet of retail space, 50,000 square feet of amenities and 442 parking spaces. Units will be offered in studio, one-, two-, three…
The Residences at 1428 Brickell Secures Master Permit, Clearing the Way for Vertical Construction
Master permit approval has been secured for The Residences at 1428 Brickell, a 70-story, 195-unit residential tower in the heart of Brickell. Developed by Ytech and led by Yamal Yidios, the approval sets the stage for construction to move full speed ahead. Unlike phased permitting, the master permit allows the project to proceed without interruption, keeping…
Historic preservation board greenlights Keyah’s plans for new Miami Beach hotel
The Miami Beach Historic Preservation Board is keen on Keyah Real Estate Group’s plan to reshape nearly an entire Art Deco block between Washington and Collins avenues. On Feb 11, the board unanimously approved by a 5-0 vote a new 262-key hotel project by Aventura-based Keyah and Grup Peralada, a family office based in Barcelona, Spain.
Keyah Real Estate Group Unveils Plans for a New Iconic Miami Beach Hotel
Keyah Real Estate Group, a dynamic, rising hospitality developer with footprints in Miami and New York, is thrilled to unveil plans for a 262-key multi-structure boutique hotel, that is set to redefine the Miami Beach hospitality scene and become the city’s next hotel, wellness, and F&B destination. The project has just secured unanimous approvals from both the City of Miami Beach…
duPont Registry Tower Announced For Miami
Plans were announced this morning for a luxury tower for car collectors in Miami, to be called the duPont Registry Tower. duPont Registry is partnering with Miami developer Fortune International and Italian design firm Pininfarina on the project. The tower will house an invitation-only club for collectors of exclusive cars. It will be located in the upcoming Magic City…
Phased Vertical Permit Issued For 67-Story JEM Private Residences
The 67-story JEM Private Residences at Miami Worldcenter has been issued a phased vertical permit. Miami’s Building Department issued the permit this morning, allowing vertical construction work to commence. The 67-story tower is planned to rise to a height of over 700 feet. It will include 259 luxury condo units on the upper levels, and 530 multi-family units on the lower levels.
$25.8M Sale-Leaseback of Cold Storage Facility Near Miami Airport Arranged
Digiacomo Group and JLL have negotiated the $25.8 million sale-leaseback of a cold storage facility located at 2323 N.W. 72nd Avenue in Miami. The seller, produce distributor Sun Belle LLC, will lease back the 82,261-square-foot property from the new owner, locally based Iconic Equities LLC, which specializes in industrial outdoor storage (IOS) and traditional industrial…
Demolition Continues At One Bayfront Plaza Supertall Site
Demolition is continuing at the One Bayfront Plaza site in the heart of downtown Miami, new photos by Phillip Pessar show. The 19-story, nearly 70-year-old building is being demolished to make way for a new supertall tower. Demolition is taking place in phases. It began in 2023 with interior demolition, and recently progressed to demolition of its massive parking garage and retail…
Lease roundup: Morgan Stanley renews at Flow and Canada Global’s Aventura Corporate Center
Morgan Stanley kept its offices at the Aventura Corporate Center. The New York-based financial services behemoth renewed its 42,400-square-foot lease at 20801 Biscayne Boulevard in Aventura, according to a news release from the landlord’s broker. Christina Jolley of Blanca Commercial Real Estate represented the landlord. Adam Bernstein and Zach Wendelin of JLL…
DWS Sells Fort Lauderdale Office Tower for $220M
The office building at 401 E. Las Olas Blvd. rises 23 stories in Fort Lauderdale, Fla.’s financial district. Image courtesy of Square2 Capital The partnership of Highline Real Estate Capital, Square2 Capital and Lone Star Funds has acquired 401 E. Las Olas Blvd. in Fort Lauderdale, Fla.’s financial district. CBRE represented the seller of the 410,561-square-foot office asset…
Three investment firms bought the Bank of America Plaza at Las Olas City Centre in downtown Fort Lauderdale for about $220 million, marking the second major office sale in the city this week. Lone Star Funds, through its real estate fund VII, Highline Real Estate Capital and Square2 Capital bought the 23-story building at 401 East Las Olas Boulevard, according to news…
Benjamin lists Fort Lauderdale dev site for over $33M, as construction prices continue to climb
Benjamin Companies put a 2.4-acre multifamily development site in Fort Lauderdale on the market for more than $33 million, amid elevated construction costs and slower rental growth. Garden City, New York-based Benjamin Companies scored approval in 2022 for a pair of 33-story towers with 542 apartments, combined, and 13,800 square feet of commercial space…
Bradford Allen pays $208M for Las Olas Centre I & II offices in downtown Fort Lauderdale
Bradford Allen Investment Advisors bought a two-building office complex in downtown Fort Lauderdale for $208 million, marking the biggest office sale this year. Chicago-based Bradford Allen bought the Las Olas Centre I & II at 350 and 450 East Las Olas Boulevard from DWS Group, according to the buyer’s news release, which doesn’t include the price. A source familiar…
A local developer is seeking $6 million in incentives from the Fort Lauderdale Community Redevelopment Agency (CRA) to support a mixed-use development in the Historic Sistrunk neighborhood. The proposal, part of the CRA’s Development Incentive Program, aims to stimulate economic growth in the historically Black community located just west of Flagler Village.
Related, BH and Pebb clear final hurdle for Office Depot campus mixed-use project
A partial redevelopment of Boca Raton’s Office Depot campus is set to go forward after receiving final city zoning approval. The Boca Raton City Council on Tuesday unanimously approved a site plan to demolish an existing office building to make way for an eight-story building with 500 apartments, nearly 43,000 square feet of retail and restaurant space and a 36,400-sf…
Terra, Frisbie win bid for Boca Raton City Hall redevelopment, plan 2M-plus sf mixed-use complex
Davd Martin’s Terra and Frisbie Group won a coveted bid to redevelop Boca Raton’s government campus, where the firms plan a 2.5 million-square-foot mixed-use complex. Terra and Frisbie beat three other contenders, including second-ranked bidder Related Ross, led by billionaire Steve Ross. On Tuesday, the Boca Raton City Council voted to select Coconut…
Related Ross Seeks Rezoning for Mixed-Use Development at K Park Site in Wellington
A rezoning application is moving forward for a 66.3-acre site in Wellington, where Related Ross, led by billionaire developer and Miami Dolphins owner Stephen M. Ross, plans to develop a large-scale mixed-use project. The site, K Park, is located at 10400 Stribling Way and is currently designated for community facilities and commercial uses. The Village of Wellington’s Planning…
Prologis Says Warehouse Leasing Rises After U.S. Election Eases Uncertainty
The world’s largest industrial developer and landlord said a burst of leasing since the U.S. November election has bolstered the company’s expectations for accelerating warehouse demand this year. Prologis signed a company record of more than 60 million square feet of leases in the fourth quarter, with most of the deals signed in the weeks after the Nov. 5 election reduced econo…
For Some CRE Owners, Insurance Now Gobbles Up Double the Revenue
Since around 2018, property insurance costs began a steady march upward, almost universally across commercial real estate (CRE), broadly forcing property owners and lenders to strategically confront the reality of soaring premiums and shrinking availability. But much of CRE has also enjoyed significant rent growth, which has seemingly muted the overall impact to bottom line…
Reducing Costs & Increasing Value: Climate-related Trends for CRE in 2025
While some elements of sustainability may face growing political headwinds, climate risk is engrained in CRE. Investors and lenders are focused on identifying opportunities to reduce costs, while also determining the long-term implications for asset value. Energy efficiency and resilience to extreme events address both of these concerns and thus are expected to stay…
Commercial Property Values Drive Optimism Around 2025 Investments, TD Bank Survey Finds
Despite rising energy costs, office vacancies, interest rates and economic uncertainties as the industry adjusts to a new administration, recent insights garnered from TD Bank’s survey at the CRE Finance Council Miami found that commercial real estate leaders are still excited for the opportunities this year could bring. More than 200 commercial real estate professionals…