The downtown and Brickell condo market has seen more new units ready to occupy this year than it did this far into in 2014, but the number of units entering the pipeline has slowed, hinting at continued but steadier future growth. “Fewer units are going to go through the construction pipeline in 2015,” said Anthony M. Graziano…
Miami City Commission to consider three big residential projects
The Miami City Commission will consider three major residential projects at its June 25 meeting, including an apartment tower by Argentinian developers the Melo Group. The Melo Group wants the height increased to 36 stories at 1410 N.E. Miami Place in the Arts & Entertainment District. It assembled the 1.23-acre site…
Design flaw stalls Flagler Street revamp
A flaw in design drawings has sidetracked a long-awaited rebirth of Flagler Street from Biscayne Boulevard to the Dade County Courthouse as a pedestrian-friendly promenade. Told of the snafu, Downtown Development Authority directors vowed to push forward. “Our biggest concern is that this doesn’t drag out,” Vice Chair Neisen Kasdin…
PortMiami charts course to expand capacity
PortMiami, well aware of its attractive location, has plans to accommodate more ships – and cruise lines. In 2013, Disney Cruise Line sailed to Miami, bringing 148,000 passengers with it. By 2015, that number had risen to 205,000, according to a port spokesperson. Virgin Cruises, which announced Tuesday that PortMiami…
Coral Gables approves big mixed-use project Mediterranean Village
Mediterranean Village, a large mixed-use project in Coral Gables, is set to break ground in less than 12 months after receiving approval from city officials. The project would be located on 6.7 acres at 2801, 2901 and 3001 Ponce de Leon Blvd. It was approved for 227 residential units (214 condos and 15 town homes), 180 hotel rooms…
Prudential takes out $46.8M loan on new Hialeah warehouse
New Jersey-based Prudential Life Insurance Company just took out a $46.8 million mortgage on a huge distribution center in Hialeah, according to Miami-Dade County records. Prudential purchased the Centergate at Gratigny, a one-million-square-foot complex with entrances along East 8th Avenue off the Gratigny Expressway…
New luxury condos on Biscayne Boulevard
A developer plans to construct a mid-rise luxury condominium on busy Biscayne Boulevard with large residential units and a sweeping, curvy façade. Boulevard 57 is an eight-story mixed-used development planned for a triangular parcel at 5700 Biscayne Blvd. in the MiMo District. The city’s Urban Development Review Board…
Fencing Coming Down At Worldcenter Property
Finally, some activity at the Worldcenter site. Yesterday, workers were seen removing gates that for decades have fenced in the mostly barren, surface parking lots where the project will be built. It is the first sign of movement on what would become one of the most transformative projects in downtown Miami’s history. Records show…
Commercial Broker Closes 25,000 SF In Lease Deals
Berger’s Joseph Byrnes, Keith Graves, St. George Guardabassi, Greg Milopoulos and Jonathan Thiel were involved in the transactions.
Miami Zoning Board Rejects Simkin’s Billboard Tower Project
How will this decision affect Simkins’ Miami Innovation District concept?
PGA Marina Sold to South Carolina Owner for $23M
PGA Marina Center LTD sold the PGA Marina boating center located at 2361-2385 PGA Blvd. in Palm Beach Gardens, FL for $23 million to PGA Marina Partners LLC. The sales price was allocated as follows: $4.65 million for the land, $3.8 million for the building, an additional $1.4 million for…
Starchitecture Watch: Miami Beach Doesn’t Want to Pay for Zaha Hadid’s Garage
The Collins Park Garage designed for Miami Beach by Zaha Hadid still hasn’t broken ground despite being very behind schedule, and now the city’s contractor is telling them that it will cost $49 million to build, twice the budget of $25 million. The city commission has requested that Hadid’s firm…
Mill Creek Residential buys lot for second phase of Miami apartment project
Mill Creek Residential paid $10.1 million for land to build the second phase of its Modera Station apartment project in Miami-Dade County. TREO Douglas Station, an affiliate of Miami-based TREO Group, sold the 1.16-acre site at 3734, 3736 and 3750 Bird Road, 3031 S.W. 37th Court, and 3090 S.W. 37th Ave. to MCREF Bird Road…
The Chopping Block: Governor Scott has vetoed spending for S. Florida projects…
Governor Scott has vetoed spending on a wide variety of South Florida projects, including millions for infrastructure work, the Underline, the Ludlam Trail, Vizcaya, the Miami Beach stormwater project, Miracle Mile improvements, and the Boat Show relocation, etc. Luckily, the organizers of the Underline…
In the Rezone: Planning Board Approves 22-Story Tower on the ‘Ocean Drive’ of North Beach
Developer Sandor Scher’s plan to built a mixed-use project which would include a 22 story tower on Ocean Terrace, a two-block-long, low rise stretch of oceanfront street much like Ocean Drive but in North Beach, has taken a big step forward, reports the Real Deal. The Miami…
Hollywood self-storage facility bought for $19M
A self-storage facility in Hollywood was bought for $18.83 million by an Atlanta-based company. Sheridan Extra Closet, managed by Clausson Lexow of American Storage Systems, sold the two buildings totaling 167,557 square feet to PPF SS 3090 Sheridan Street, an affiliate of Atlanta-based Safeguard Self Storage. This is its 13th location…
Preservation Watch: Little Havana is One of Eleven Most Endangered Historic Sites
Last year the National Trust for Historic Preservation named the midcentury modernist architecture of Bay Harbor Islands’ East Island among the eleven most endangered historic sites in America—a moment which amplified the preservation movement…
New Panama Locks To Open In April, But At Higher Cost
The new locks at the Pacific end of the Panama Canal began to fill with water this week in preparation for months of testing of their new gates before they open to commercial traffic in April 2016. The flooding to the Pacific locks, following that of the Atlantic locks earlier this month, puts the…
Hooters announces plans for five more South Florida locations
South Floridians must love their hot wings and orange shorts, because a Hooters franchisee announced that it will open five stores here in the next six years. Wings of South Florida, LLC entered into an agreement with Hooters of America, LLC to develop the new locations in the South Florida area, with the first opening June 2016.
Menswear store with roof-top terrace opening off Lincoln Road
Suitsupply, a European menswear brand, will open its first South Florida store on Thursday, taking a top floor space and rooftop terrace off Lincoln Road in Miami Beach. The shop, which sells men’s suits…
Hotel Indigo in Miami sells to California investors
The Carlyle Group and an investment fund have sold Hotel Indigo, a 120-room hotel in Miami’s Dadeland area for $18.63 million. Los Angeles-based Integrated Capital acquired the 1.5-acre property at 7600 North Kendall Drive. CRP Cardel Dadeland Hotel, an affiliate of…
Scott vetoes Underline, public infrastructure funding
Out of the $461 million Gov. Rick Scott vetoed from the state budget this week was funding contributing to a number of South Florida projects, including the…
New Coconut Grove townhomes headed to market
Grove Place, a newly announced townhouse project on the northern edge of Coconut Grove (demographics, commercial real estate listings), is gearing up to start selling units next month. Plans for the project, at 2701 Southwest 28th Avenue, include 21 three-story residences. Eighteen of those units with…
Little Havana on list of endangered historic places
The National Trust for Historic Preservation included the Little Havana section of Miami on its 2015 list of the 11 most endangered historic places. The National Trust, the primary U.S. preservation group, reported that two thre…
Hotel REIT picks up Hampton Inn Fort Lauderdale for $18M
A Miami-based hospitality group sold the Hampton Inn Fort Lauderdale Downtown Las Olas for $18.1 million, according to Broward County records. City Center Hotel Group sold the 156-key hotel, which was…
Related’s Ross looking to buy into F1 racing
From the New York website: Related Cos. founder and chair Stephen Ross is teaming with a Qatari sovereign wealth fund to bid for a stake in Formula 1 racing, according to reports. Ross’ RSE Ventures, with backing from Qatar…
Mediterranean Village at Ponce Circle lands zoning approval
Developer Agave Ponce received final zoning approval from the city of Coral Gables for its 6.7-acre mixed-use development. Mediterranean Village at Ponce Circle (area demographics, commercial property listings) will include a five-star hotel, Class A office space, high-end retail, 229…
Mill Creek picks up Coral Gables development site
Mill Creek Residential just picked up a $10 million property in Coral Gables for the second phase of an apartment project. The multi-family builder purchased an assembly of parcels along Bird Road and Peacock…
Swiss Hotel Investor Scores With TotalBank
Karyl Argamasilla, attorney at Bilzin Sumberg and counsel to TotalBank on the deal, tells GlobeSt.om this was a complex deal in many ways.
Open not quite a year, PortMiami Tunnel has met expectations and has exceeded some of them, said Chris Hodgkins, CEO of MAT Concessionaire LLC, its operator. The goal was to divert 16,000 vehicles per day – 28% of them trucks – from the streets of downtown Miami to the twin tunnels, and then to speed them to their destinations.
Science museum sprints to finish
With $101 million raised toward a fundraising goal of $135 million and most of the exterior construction completed on the four-building complex, the $300 million Patricia and Phillip Frost Museum of Science is sprinting toward an on-time summer 2016 opening. In addition to an original gift of $35 million, the Frosts donated $10 million…
Hotel Indigo Miami Dadeland sells for $18.63 million
Hotel Indigo Miami Dadeland has sold for $18.63 million – a 61 percent profit from its previous purchase price.
The six-story, 120-room property was sold to IC – Miami Dadeland LLC, a company affiliated with Integrated Capital in Los Angeles. The seller, CRP/Cardel Dadeland Hotel LLC, is an affiliate of The Carlyle Group…