MG Developers Break Ground on the Village at Coral Gables

The Village at Coral Gables is a highly anticipated residential development that just broke ground. The development pays homage to the aesthetic beauty and way of life of Seville, Spain, and carries on the legacy of the dreamer and founder of Coral Gables, George Merrick, and his vision.

This unique enclave’s construction was officially launched on Saturday, September 16th during the groundbreaking ceremony at 504 Malaga Avenue. More than 600 distinguished guests attended the event, including Coral Gables Mayor Vince Lago, Coral Gables Chamber of Commerce President Mark Trowbridge, the project’s exclusive sales partner, One Sotheby’s International Realty’s Founder and CEO Mayi de la Vega, and President Daniel de la Vega, as well as local buyers and residents.

After the groundbreaking ceremony, visitors were treated to a memorable experience at the appropriately called “The Village Harvest Festival.” Families and neighborhood residents gathered for the celebration of the fall season and the opening of The Village at Coral Gables from 10:00 a.m. to 2:00 p.m. The event included a farmer’s market with regional artisans and entertaining carnival games like face painting and bounce houses.

The 17 parcels that make up The Village at Coral Gables will be surrounded by Segovia Street, Hernando Street, Santander Avenue, and Malaga Avenue. From chic two-bedroom flats with a study area and a balcony to attractive four-bedroom townhomes that range in size from 1,750 square feet to 3,100 square feet, the townhomes, lofts, villas, and flats will vary in style and size. The Village at Coral Gables, created by De La Guardia Victoria Architects & Urbanists, will be developed in a Mediterranean Revival-Style Architecture, including gardens, courtyards, and fountains inspired by the alcoves in the Plaza de Espaa, and be modeled after Merrick’s seven communities.

A wellness clubhouse, indoor and outdoor terrace lounges, a workout wing, a plunge pool, a library, a conference center, and high-speed Wi-Fi are just a few of the recreational amenities available to residents. These amenities redefine modern living in the historic Coral Gables neighborhood. The Village at Coral Gables provides residents with the best of South Florida life because it is located close to Downtown Coral Gables, golf courses, the Lowe’s Hotel, the Biltmore Hotel, cultural attractions, and renowned culinary establishments.

Construction is expected to be completed by 2024. If you or someone you know have an interest in purchasing at the Village of Coral Gables, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.

Norman Foster’s Biophlic South Beach Office Building Project Approved by the Planning Board of Miami Beach

The proposed Alton Road office project in South Beach by developer Shvo was approved by the Planning Board of Miami Beach.

The project is being designed by Pritzker Prize winner Lord Norman Foster and the crew at Foster + Partners using a biophilic approach that was influenced by Florida’s climate and vegetation. Foster and Kobi Karp Architects are listed as the architects involved in the design.

‘The Alton’ and will rise 6 stories with 170,000 rentable square feet, 17,000 square feet of ground floor retail, and 4 luxury residential units.

The hearing before the Design Review Board will take place in October. The Alton’s construction is anticipated to start in early 2024, assuming it is permitted.

Shvo is working with Foster and architect Peter Marino on three Class-A office buildings in Miami Beach, including The Alton, that have a combined square footage of about 400,000. Together with Deutsche Finance America, the developer is committing nearly $2 billion to Miami Beach.

Monarch Alternative Capital Buys 801 Brickell Office Tower for $250 Million

The 801 Brickell office tower in Miami is being purchased by Monarch Alternative Capital and Tourmaline Capital Partners for roughly $250 million.

This 28-story building is anticipated to close in the next week. According to property records, the building was finished in 1984 and has a total square footage of 695,000 square feet, 415,000 of which are offices. The building was purchased in 2002 for $80.3 million by Nuveen, the financial division of the Teachers Insurance and Annuity Association of America, or TIAA. Over 90% of units at 801 Brickell are leased.

Among the tenants are the bank Cassel Salpeter, the investment business Selvatra, and Swiss Re AGroup. The 7,000 square foot office will be opened in the fourth quarter by BNP Paribas Securities Corporation, a division of the European bank BNP Paribas. Komodo, a restaurant owned by Groot Hospitality, has a location at 801 Brickell as well.

Approximately 60% of the purchase price is being financed by 801 Brickell’s buyers.

Apollo Capital Management, Canadian asset management CI Financial, and private equity company Thoma Bravo are three financial institutions that have recently leased space in Brickell. Also relocating from Chicago to Brickell is billionaire Ken Griffin’s Citadel and Citadel Securities.

Since Griffin’s $286.5 million purchase of the structure at 1221 Brickell Avenue in the summer of last year, Monarch and Tourmaline’s acquisition is the largest office transaction in South Florida.

With some asking rentals over $100 per square foot, the number of tenants has driven Brickell rents to all-time highs. The 801 Brickell acquisition is partially a bet on rental growth at the tower because, according to sources, new leases are signing for over $100 per foot, which is significantly more than the rates for existing leases.

According to its website, Tourmaline is an office investment company created in 2021 that has made $3 billion in deals and has 1.4 million square feet under construction. Brandon Huffman is in charge of it.

The Citigroup Center in downtown Miami, located at 201 South Biscayne Boulevard, is likewise a property owned by Monarch and Tourmaline. The 34-story tower also has CP Group, formerly known as Crocker Partners, is listed as a co-owner.

$1 Billion Highland Park Miami Project Unveiled

Due to Miami’s exceptional growth, which has surpassed that of other major international cities, there is now a greater need and demand for economic drivers, such as healthcare, in order to support the city’s expanding infrastructure.

The Allen Morris Company, one of the largest diversified real estate firms in the southeast, and Black Salmon, a national commercial real estate investment firm based in Miami, have teamed up to develop Highland Park Miami, further solidifying the metropolitan area’s position as the second largest health district in the United States. The 7-acre, $1 billion mixed-use development will add around 10% to the Miami Medical District’s footprint.

Preliminary site clearing for the eagerly awaited Highland Park Miami project will start later this year. The creative team behind the multi-phased development has spent the last ten years conceptualizing and planning Highland Park Miami. They have traveled to important medical centers in the US, such as Houston and Rochester’s renowned Mayo Clinic Health District, to gain a deeper understanding of the needs for such a significant and vast project.

The development of Highland Park Miami will be at the nexus of business and health. The multi-block, mixed-use complex will comprise hotels, residential buildings, supporting retail, food and beverage uses, and green space, and will house medical and related office uses in an urban setting. The internationally acclaimed architecture firm Arquitectonica is responsible for the project’s master planning and design.

Naturalficial, a Miami-based landscape architecture and design firm, has transformed Highland Park Miami, from an unused area into a walkable, gorgeously planted lifestyle community that promotes health and wellness. In order to stress connectedness as a crucial component of the design, it will have 1,000 residential units created by Oppenheim Architecture, a 150-room hotel, and 500,000 square feet of medical office space weaving through open pathways and vegetation.

At 800 NW 14th Street, Highland Park Miami will be situated between the bustling Miami River and Florida State Road 836, a significant east-west transit route that connects to the airport and practically all of the city’s top attractions. Being a transit-oriented development (TOD) and being only 400 feet from a Metrorail station, it will also draw a significant amount of density.

Hell’s Kitchen Miami is Officially Open

Gordon Ramsay, a well-known chef and restaurateur, has officially opened Hell’s Kitchen Miami. As Ramsay’s first business in South Florida, the eatery, which was inspired by his distinctive dishes from his popular culinary competition TV series Hell’s Kitchen, had its grand opening on Saturday, September 23.

The eatery is situated at 333 Biscayne Boulevard Way in the Met Square Complex in downtown Miami, which is a part of the Metropolitan Miami mixed-use complex. It is on the north bank of the Miami River. The property has 188 luxurious apartments, a museum honoring the Tequesta tribe, a hotel, a Silverspot Cinema, and more than 40,000 square feet of retail and dining space.

The enormous, two-story Hell’s Kitchen restaurant is spacious with a patio, terrace, open kitchen, two bars, two chef’s tables, and numerous private dining rooms on the main floor.

The open kitchen, which was intended to be the restaurant’s center point and features a combination of dramatic lighting and slick, white marble counters, will attract those who enjoy watching the line. Through a dedicated observation area located above the kitchen, even customers seated on the second level will be able to observe the cooks in action.

Along with Miami-exclusive dishes like steamed mussels with Spanish chorizo in a tomato saffron broth and churros served with cinnamon sugar, Mexican chocolate sauce, and dulce de leche ice cream, the Hell’s Kitchen menu will feature Ramsay’s signature classics, including his beef Wellington, crispy skin salmon, and sticky toffee pudding.

The Miami Hell’s Kitchen dining room’s open kitchen was intended to be the room’s focal point. A three-course prix-fixe menu including carefully chosen wine pairings that emphasize fan favorites is available to diners. There are vegetarian and vegan versions available, such as a vegan tomato saffron risotto and pan-seared tofu “scallops.”

Expect to discover both traditional and specialty drinks at the bar, including the inventive “Smoke on the Water” from the restaurant, which is served in a smoke-filled lantern. The “Notes from Gordon,” a drink that comes with a personalized note from Ramsay, is recommended.

Ramsay and Lion Capital signed a contract in 2019 to take his restaurant concepts nationwide. Currently, the company operates over a dozen eateries, including Gordon Ramsay Fish & Chips, Gordon Ramsay Burger, Gordon Ramsay Street Pizza, and Gordon Ramsay Steak, in cities including Boston, Orlando, Baltimore, and Kansas City in addition to Las Vegas and Chicago.

New Renderings Revealed for St. Regis Residences Miami Sales Gallery

New interior renderings of The St. Regis Residences Miami have just been revealed. The Residences, which will be situated in the upscale South Brickell district, will tower 50 floors above the waterfront of South Brickell and provide a distinctive experience and design to the St. Regis brand.

The skyscraper was meticulously cultivated and maintained by a visionary team, including architecture by the prestigious Robert A.M. Stern Architects and interiors by the famous Rockwell Group. It was developed by Related Group along with Integra Investments.

All 152 of the units have access to more than 50,000 square feet of indoor and outdoor amenities, as well as magnificent views of the water and other world-class amenities.

There will be luxurious finishes throughout the two to six-bedroom units with large walk-in closets, spa-like bathrooms, and other amenities featured in the grand floor plans, which also have private elevators and entry foyers. Top-of-the-line Sub-Zero and Wolf appliances, custom Italian cabinetry, and imported natural stone worktops and backsplashes are all included in the kitchens. Additionally, every luxury unit will offer expansive views of Biscayne Bay and the glistening Brickell skyline.

The structure is surrounded by rich landscaping created by the renowned Swiss design company Enea Garden Design in park-like surroundings. Deliveries to homes, a house car that is kept on-site, a shoeshine service, and other special arrangements are just a few of the signature butler services that round out the lifestyle experience.

If you or someone you know have an interest in purchasing at St. Regis Residences Miami, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.

New Tower Announced in Brickell- Calle 8

A new tower with a unique design was just announced in Brickell. The pre-application has just been submitted to Miami-Dade planners for the project Calle 8. Millennium Developments of Brickell, LLC is mentioned as the developer for this development.

The application states 464 residential units with studio to 3 bedroom floor plans with 1 penthouse available.

Floor Plan Availability:

• 252- studios
• 37- one bedrooms
• 167- two bedrooms
• 7- three bedrooms
• 1 penthouse

The plans also show a multi-level retail space as well as 467 parking spaces available on 11 levels. The Federal Aviation Administration approved a tower height of 685 feet above ground level or 699 feet above sea level in a letter that was published in May 2023. A gas station is currently on the property. Calle 8 will be designed by BMA Architects of Miami.

Related Group Tops Off on Two Tower Project in Wynwood

Wynwood Diamedix, a remarkable construction in Miami’s Wynwood Arts District, Related Group has just completed vertical construction.

There are 304 rental homes with interiors designed by ID & Design International, over 17,000 square feet of first-rate commercial space, and an impressive 63,000 square feet of first-class office space will be found in this two-tower project, which was created by Cohen Freedman Encinosa & Associates and is located at 2150 North Miami Avenue and 2115 North Miami Avenue.

Beauchamp Construction is listed as the general contractor on the project, and it is expected to be finished in September 2024.

Modern architecture and design are included in these luxury rental flats, which also provide painstakingly designed studio, one-, two-, and three-bedroom floorplans. Studios range in size from 550 square feet to more than 1,400 square feet, and all come with floor-to-ceiling windows, high ceilings, walk-in closets, and other features.

Amenities:

• Rooftop pool deck
• Summer kitchens
• State of the art fitness center
• Spin rooms
• Saunas and steam rooms
• Resident-only lounge
• Round-the-clock concierge service
• Golf Simulator
• Podcast room

Wynwood, formerly a neglected industrial area, has evolved into a flourishing cultural center with art galleries, shops, restaurants, and entertainment facilities. For those who appreciate urban living with a creative edge, its convenient location just minutes from downtown Miami and South Beach makes it the best option.

Miami Heat Victor Oladipo Just Sold his Miami Beach Property for $7.8 Million

All-Star NBA player Victor Oladipo, recently sold his Miami Beach property. According to records, Oladipo sold the non-waterfront mansion at 65 South Hibiscus Drive for $9 million, two years after purchasing it for a then-record $7.8 million.

In 2021, Oladipo had just become a member of the Miami Heat and had just purchased the 6,500-square-foot house. According to records, the house was built in 2020 and has seven bedrooms, seven bathrooms, and one half-bathroom. It covers 0.3 acres, which according to Hogan is unusual for Hibiscus Island. According to Hogan, the house contains a pool, two master bedrooms, and a separate guest house.

Oladipo paid a sum that, at the time, set a Miami Beach non-waterfront home record, but that record was quickly broken when the area’s housing market experienced a price increase due to increasing demand. When a Sunset Islands home sold for $12.5 million in 2022, it set the record for the most money ever paid for a non-waterfront residence in Miami Beach.

According to Hogan, the most recent sale sets a Hibiscus Island price record for non-waterfront properties. According to Redfin, Oladipo listed the home in June for $10 million.

Throughout his 10-year NBA career, the two-time All-Star has sustained numerous injuries. He was transferred from the Heat to the Thunder in July, however, there is some talk that he might be moved again, according to Hogan. According to the Bleacher Report, Oladipo filed a lawsuit against his longtime manager, James Henderson, in June, accusing him of stealing $1.3 million from Oladipo and investing it in a condo and a nightclub.

Hogan stated that Oladipo wants to keep a “home base” in the Miami area and wants a bigger yard for his daughter even though his basketball future is uncertain. According to Hogan, they have been looking at homes in Pinecrest, a well-known inland hub for NBA players, as well as Weston, Davie, Southwest Ranches, and Pinecrest.

Earlier last month, Jason Richardson, a retired NBA star, paid $6.3 million for a house close to Olympia Heights. Jimmy Butler, a member of the Miami Heat, purchased a South Miami house for $7.4 million in February of last year.

Abbhi Capital Breaks Ground on 2 Million Square Foot Development at Miami Worldcenter

With a ground-breaking of a 2 million square foot mixed-use development that includes the area’s first significant office building, Abbhi Capital plans to revolutionize Miami Worldcenter.

On September 20th, the city’s Urban Design Review Board will consider the expansive project, which consists of a 59-story residential tower and a 33-story office tower joined by a shared podium with plenty of parking. The property was purchased by SanaProperty8LLC, an affiliate of Abbhi Capital, for a total of $44 million between 2020 and 2021. It is located at 1001 N.E. First Ave. The development will have 1,319 spacious parking places, 7109 square feet of retail and dining space, 368,362 square feet of available commercial space, and 558 residential units.

An amenities deck including a pool, jacuzzi, pickleball courts, fitness center, coworking spaces, media room, and even a dog grooming station will be available to residents and renters on the 12th level. The construction intends to accommodate a variety of lifestyles with the majority of residential apartments beginning on the second floor and ranging from small 570-square-foot studios to roomy three-bedroom residences covering 1,562 square feet.

Ten city blocks make up Miami Worldcenter, which is next to Museum Park, which is home to the Frost Museum of Science and Pérez Art Museum Miami, as well as the FTX Arena, Adrienne Arsht Center for the Performing Arts, and Wolfson Campus of Miami Dade College. Miami Worldcenter is the largest and best-connected transit-oriented development in Florida thanks to its proximity to Brightline’s MiamiCentral station, which provides direct train service to Fort Lauderdale, West Palm Beach, and Orlando and access to Tri-Rail, the Metromover, and the Metrorail.