Some Serious I-Beams Went Up at Lincoln Road’s New Ross
Lincoln Road Ross Construction
When Miamians found out a year ago that discount fashion retailer Ross Dress for Less was moving to Lincoln Road, thanks to the sharp eye of photographer Phillip Pessar who notified your humble correspondent that Ross had posted a sign in front of their new premises and your humble correspondentbroke the news on Curbed Miami, of which he (okay, I) was humbly the editor of at the time, people got a little worked up. While some saw the Ross as a good sign, that affordable merchandise was making its way to Miami Beach, others felt it was the downfall of Lincoln Road as a unique street for locals. The ‘mall-ification’ of Lincoln Road was complete.
“Walgreens moving into the Ritz and now this… You can spend $500 on a room then run downstairs for snackys and across the street for a party outfit to wear to Cameo.” said one commenter.
“This is simply further proof that the only stores that can afford the exorbitant rents on Lincoln are the national chains. Here comes another one!” said another.
The multilevel retail building was supposed to be complete by October, but this being real life, well it isn’t. Construction has, however, made considerable progress with the demolition of the former building (the last remnants of the historic Carib Theater) and the installation of two ross of absolutely massive I-beams that will eventually support a tall shade structure over the entrance to the new Ross. People may be dressing for less, but they’ll buy those dresses (or shirts, pants, whatever) in a surprisingly dramatic structure.
Photo by Phillip Pessar
Fisher Island’s Newest Resident is Momo the Flamingo
Momo the Flamingo.
Meet Momo. Fisher Island, that exclusive private island and club has a new addition to its aviary, home to exotic birds like parrots and a flock of flamingos: the two month oldMomo the flamingo. According to the Facebook page for Palazzo del Sol, Fisher’s latest luxury condo building, it will take about two years for Momo’s soft gray feathers to turn pink. The aviary is open to club members, their guests, and hotel guests, so if you’re not in one of those three groups, or the help, well, here he is.
Closings at Centro Begin Last Week of May/First Week of June
Centro is done. Well technically, it’s almost done. According to representatives from the sales office, the Newgard Development Group’slatest condo tower Centro, at the corner of SE 1st Street and 2nd Avenue, is expecting to begin closings the last week of May/first week of June. Presumably that will be when the project receives its Temporary Certificate of Occupancy as well. At the moment construction fencing and scaffolding are still up, but the construction cranes have been removed.
Centro was one of the earliest to herald the resurgence of Downtown Miami in this real estate cycle (after the apocalypse of 2008 that is) and was even a little controversial in the beginning because it was built without a garage. And you know how Miamians love their cars. Then during site excavation, some nincompoops saw the unearthed foundations of a hotel formerly on the site and thought they had found Roman ruins. Hopefully the project, will be as entertaining when it’s done as it was watching it get built. We’re looking forward to seeing those Yves Behar-designed interiors too.
Excrutiatingly Adorable Little Coral Gables House Hits the Market for $675K
521 Aragon Avenue
This may be called the Miami Condo Blog, but when a house is cute, well, that house is cuuuute. Here’s an adorable little three bedroom, two bath, historic Mediterranean Revival number in Coral Gables that hit the market a total of eight days ago for $675,000. Built in 1926 and designed by architect Harold D. Steward, despite its modest 1,588 square foot size, the house has a certain stateliness to it, with a vaulted living room ceiling of ‘pecky cyprus’ beams, a fireplace, wooden floors, bright green cabinetry, and a front porch. The dining room/sun room has Portuguese tile floors, and out back the very lush backyard has a brick patio facing a pond and waterfall, with a little guest cottage beyond. At 521 Aragon Avenue, the house is in the oldest part of Coral Gables, two blocks away from Miracle Mile and literally basically around the corner from the childhood home of George Merrick, the Gables’ founder.
In Miami, houses are like land. In this town they’re not making many more of them. Condos are where the growth is, making up the vast majority of the residential real estate market, and houses in good neighborhoods are rarer and rarer.
New Owner Reboots The Edge on Brickell as a Hotel
New rendering of The Edge on Brickell
The Edge on Brickell is back, sort of. The sliver of land at 55 SW Miami Avenue where a condo tower was proposed just a few years ago will now be the site of a hotel, developed by its new owner Brazilian Leo Macedo of the Brick Group. The developer told Miami Today “A hotel makes a lot more sense than residential on the river in this particular location,” close to transit, marine life, and the activity of lots of surrounding new developments.
Although the hotel has a new architect and a new (even taller!) design, Macedo is sticking with the name ‘The Edge on Brickell.’ The project will have 200 hotel rooms and more parking than the axed residential tower. Plans shown to the Miami River Commission on April 22nd show two ninth floor pool decks and a rooftop restaurant.
Duplex Penthouse with Soaring Windows at 4 Midtown Wants $2.232 Million
Photos via broker Adrian Gonzalez.
The 3,557 square foot Penthouse 4 at 4 Midtown condominiums is on the market for $2.232 million and is stocked with a soaring, curvy-windowed living room with southeastern views over the Miami skyline, Biscayne Bay, and Miami Beach. Sure it could work for a family (Midtown is known for having lots of those) but something about the glassy master bedroom just screams ‘bachelor bacchanal chic.’ Living here would sort of be the Miami equivalent of living in Brooklyn, somewhere with a great view of the Manhattan skyline but slightly apart. Still a very cool neighborhood, but, at just over $2 mill, skipping the prices of an equivalent penthouse somewhere Downtown or in Brickell, while being able to see it all out your giant bay window. It’s all a matter of interpretation. Full disclosure, those bay views may be luscious, but see those two little buildings under construction due east? Those are Paraiso Bay and Biscayne Beach. Neither is anywhere near so little anymore, and there are more to come. The unit is listed with broker Adrian Gonzalez.
Checking in on Construction at the Ritz-Carlton Residences Miami Beach
Ritz-Carlton Residences Miami Beach construction. Photos via Ritz-Carlton.
The Ritz-Carlton Residences Miami Beach is probably one of the more complicated residential construction projects in Miami today. Sure, it’s not exactly Zaha’s exoskeletal tower, and definitely not an elaborate behemoth like Brickell City Centre, but the Ritz is the adaptive reuse of frankly what was an ugly old hospital building into very luxurious condos. Turning a heart hospital (it was the Miami Heart Institute) into a Ritz-Carlton is no simple task.
Updated construction photos released by the Ritz on April 21st show the project to be relatively far along. The structure was saved because any new construction on the site could not be nearly as large, due to zoning restrictions. Gutting and concrete pouring appear significantly complete, with lots of new glazing coming in, and work underway on the roof. About a month ago the building was over 65% sold according to the developer, although to make those sales targets they’ve certainly had lots of parties (Not that parties are such a bad thing. The stone crabs during South Beach Wine and Food Fest were superb) and recently listed a couple units in Canadian currency for one night, so there’s that.
After All That, is Genting Trying to Unload the Miami Herald Site?
The former Miami Herald Building site, owned by Genting. Photo by Phillip Pessar.
On the face of it, Malaysian casino conglomerate Genting‘s Miami dreams have been slow to materialize since setting up their Miami/Bimini operations around 2011, but does that mean Genting is ready to pack up and leave town? Will Resorts World Miami ever be a thing? According to the Miami Herald, Genting showed the former location of the Miami Herald Building to an unnamed real estate developer, apparently in a bid to flip it.
After spending nearly $500 million for the Miami Herald Building, the old Omni International Mall, the Boulevard Shops, and properties adjacent to the Miami School Board Headquarters, their plans to build literally the world’s biggest casino have all but bellyflopped. Having been denied the legal ability to build a casino at all, the company then announced plans to build a luxury mixed-use waterfront complex, demolished the old Miami Herald Building, and did pretty much nothing with the site (they are, however, renovating the historic Boulevard Shops). Since then rumors have swirled from various sources about what the company might be doing, and they have reportedly talked to developer Jorge Perez and soccer star/stadium builder David Beckham. None of those efforts, however, appeared to go anywhere. Although the company is still lobbying in Tallahassee to allow its casino plans to move forward, pulling out, by now, wouldn’t exactly be a huge surprise.
With a new hotel and more visitors, the Bimini operations appear to be doing better, although in January Genting took the newly renovated ‘Bimini Superfast’ boat out of service, at the time saying they planned to replace it with “a more efficient operation” sometime this spring.
Photo by Phillip Pessar.
Miami Condo Investments Welcomes Sean McCaughan as Editor
We are very excited today to announce that Sean McCaughan has joined Miami Condo Investments as our new editor. Sean’s natural talent of writing paired with his passion for Miami, architecture and the real estate industry makes him a perfect fit for the Miami Condo Investments blog.
Many may remember Sean as the previous editor of Curbed Miami, a popular online real estate publication as well as the editor of Gridics. In addition to his amazing talent, he is bringing many contacts within the real estate community. This will make sure that we have all the latest and greatest information to bring to you, whether you are a real estate/architecture enthusiast or are actively searching for a new property.
We hope that you enjoy the new posts & functionality of the site as much as we love bringing it to you!
After lots and lots of planning, the Related Group is having the grand opening of the new Auberge Residences Miami sales center in typical Miami style with a launch party this week. The developer appears to have adjusted to softening market conditions by erasing the planned second and third towers from renderings and putting them off while they focus on the first. However, by the look of everything else related to the project, this is still very much Miami, where decadence and financial profligacy still reign.
The 60-story tower will have 290 units (far fewer, of course than in the three-tower configuration), 90 suites managed by Auberge Resorts, lots of art, outdoor pools on the 12th floor and 60th floor, and a spa with what in a rendering appears to be an indoor pool. The 12th floor will have other amenities galore, including a wine room, cigar lounge, club room, media room, restaurant, etc. Downstairs, restaurants and retail will activate the street. The structure is being designed by Arquitectonica, with exterior spaces by landscape architect Enzo Enea. Piero Lissoni is doing the interiors.
Prices are in the $500,000s for one bedrooms with dens, under $1 million for 2 bedrooms, and in the low $1 millions for three bedrooms. Penthouses, some of which are duplexes, range from $1.7 to $4.1 million.
