North Bay Village Approves 7.3 Million Square Foot Development Project Featuring 1,936 Residential Units
Sunbeam Properties, the proprietor of WSVN Channel 7, has a 7.3 million square foot redevelopment plan that has officially been approved by the North Bay Village Council. The special area plan for a 12.9-acre site covering 1400, 1401, 1415, 1600, and 1601 79th Street Causeway, as well as 155 and 1624 North Bay Causeway, was approved by the Village Council on a 3-2 vote early on Wednesday.
A 300-room hotel, 1,936 residential units, 200,000 square feet of office space, 670,000 square feet of retail space, 117 units of workforce housing, and around 5,000 parking spots are all included in the development plan. Additionally, there would be 84,366 square feet of public space, including a half-mile pedestrian walkway known as the “island walk” that would be surrounded by restaurants and stores. A marina would also be a part of the project.
The project’s highest structure would be 650 feet tall. To lessen the number of shadows cast upon the smaller dwellings, the structures closer to single-family homes would be smaller. Buildings north of the project would be taller and would rise 240 feet in height south of the causeway.
The offices and studios of WSVN will eventually be relocated as part of the construction. WSVN and Sunbeam Properties are owned by the multibillionaire Ansin family.
The project’s first phase, according to Ansin, would be built south of the causeway and will have 500 to 600 apartments spread across two buildings, along with a restaurant, grocery store, and other retail space that may house an urgent care facility or a daycare. Sunbeam Properties must apply for building permits for the first phase within two years in accordance with its development agreement with the village. The first renters, according to Ansin, should move in within five years.
As the Ansin family celebrates the 60th anniversary of running WSVN in North Bay Village, CEO Andy Ansin admitted that this was an emotionally charged decision for him. He has visited that studio ever since he was a youngster.
Although Ansin said the initial concept wasn’t for redevelopment, Sunbeam Properties over time purchased surrounding lands. According to Ansin, the first purchase was made to stop a strip club from being built next door. It bought a nearby office complex so the TV station would have more parking.
Ansin discovered North Bay Village had potential after having experts from the University of Miami School of Architecture do research on future renovation. However, it necessitated moving the TV studio.
Ansin stated that he is still looking for a new studio for WSVN. He emphasized that it would require plenty of parking, hurricane-resistant construction, and backup power generation.
PlusUrbana, a firm based in Miami, is the project’s architect. Attorney Ian DeMello, who is headquartered in Miami, is the developer’s representative.
New Development Announced in Wynwood-The Rider
The Rider, a new project in Wynwood, has just had its designs submitted to the Wynwood Design Committee. The Rider will be a mixed-use upscale rental development that will rise 12 stories tall.
Spanning over 131 luxury units with a total leasable area of 104,625 square feet for the units and 6,000 square feet for ground-floor retail. The Rider will also include 146 garage spaces.
The Rider is situated at the intersection of Miami’s hip and developing Wynwood and Midtown neighborhoods, at 94 NE 29th Street, Miami, Florida on 0.56 acres. Residents will be able to scooter to their preferred locations, such as the Wynwood Walls, trendy shops and restaurants with a variety of flavors, and the shops at Midtown Mall, as well as a stroll to a prospective train station that may be only 85 yards away.
The Rider will have excellent access because it is about a 5-minute drive from the Miami Design District’s world-class shopping and from Interstate 195.
Tower Features
Rooftop Pool
Pool deck
Dog Park
Private hangout area
Resident’s lounge
Cutting-edge gym
Art and Photography by Morrison Hotel Gallery
Rooftop food service establishment that will be open to the public and be serviced by separate elevators
The developer is listed as the Rilea Group with Wynwood Deforma Studio listed as the architect.
On October 12, there will be a hearing before the Wynwood Design Review Committee to continue discussions about the new development.
Related Group and Two Roads Propose New 24 Story Tower-The Residences of Bal Harbour
The Related Group and Two Roads Development are partnering to create a new condominium project in Bal Harbour, The Residences of Bal Harbour.
The developers paid $135.2 million for an existing 88-unit condo tower and land located at 10245 Collins Avenue.
The proposed tower is expected to rise 24 stories tall featuring 61 luxury residences and 160 parking spaces which will be located in the basement of the tower.
Residence Features:
Waterviews from each residence
Wraparound balconies of each residence
3 to 5 bedroom floor plan options
3,258 to 4,754 square feet
High-impact floor-to-ceiling glass windows and sliding glass doors
Tower Features:
Separate ground floor, state-of-the-art fitness center
Ground-floor restaurant
Rooftop pool
Rooftop bar
Groundfloor pool
Private beach access
CFE is listed as the architect for the project with Skidmore, Owings & Merrill as the designer.
The Architectural Review Board is scheduled for October 6 to review an updated proposal for The Residences of Bal Harbour.
The Constellation Group and Boschetti Group Propose a 15 Story Luxury Tower in Coral Gables
A 15-story, mixed-use luxury rental property is now being proposed by the Constellation Group and the Boschetti Group in Coral Gables, located at 4241 Aurora Street.
The proposals will be reviewed by the city’s development review board on Friday, according to Constellation Group Principal Eduardo Otaola. Approximately 70 apartments, 20,000 square feet of office space, 10,000 square feet of retail space, and a 5,000 square foot park would be present at the development site.
The location, which takes up an entire city block, is located west of Ponce de Leon Boulevard and immediately north of the Nordstrom shop at Brookfield Properties’ Merrick Park mall.
The project’s architects are listed as Bernardo Fort-Brescia and Raymond Fort of Arquitectonica, who were chosen by the Miami-based Constellation and Coral Gables-based Boschetti. According to Otaola, the design is the Mediterranean with an “innovation” twist because the location is located within the city’s Design and Innovation Overlay District. The building’s creators are aiming for a Mediterranean-inspired addition.
According to Otaola, they met with the neighborhood to obtain input on the designs and are proposing the taller building in exchange for the park.
According to the developers’ proposal, Constellation and Boschetti are requesting a transfer of development rights at the meeting on Friday that will add 26,000 square feet to the floor area ratio and offer remote parking for around 60 of the 200 required parking places. The developers are being defended by Greenberg Traurig’s lawyer Jorge Navarro.
At 4225 Ponce de Leon Boulevard, an adjacent office and retail complex is also being built by Constellation and Boschetti. It’s anticipated that construction will begin then.
Constellation is expected to close on its share of the property at 4241 Aurora early next year. Property records show Brookfield Properties sold the 0.7-acre site to a Boschetti affiliate in January for $6.1 million.
After going before the development review committee, Otaola said the project will be heard by the Coral Gables Board of Architects. He intends to break ground by the second or third quarter of next year.
Just east of Merrick Park and south of Bird Road in Miami, a number of apartment complexes have already been completed or are in the planning stages. The Watermark at Coral Gables on LeJeune Road and Belmont Village Senior Living next to the Collection dealership are two other high-end senior living projects that developers are currently working on to the north and south of the mall.
According to public records, Boschetti also owns a site close to the Watermark project.
The LifeTime-branded mixed-use multifamily development at 237 South Dixie Highway in Coral Gables was purchased by Hines for $430 million in August.
Invite Only New Construction Luxury 50 Unit Condominium to Break Ground on Fisher Island Miami
The Related Group is making waves in South Florida with their newest condominium project on the exclusive Fisher Island. The invitation only condo tower would include 50 luxury residences with a select number of penthouses.
The wealthy have long made Fisher Island, which is located at the confluence of Biscayne Bay and the Atlantic Ocean and is a seven-minute ferry trip from Miami Beach.
Oprah, Julia Roberts, and Mel Brooks are all known to have lived on Fisher Island in the past. The enclave has also received some accolades: Bloomberg found in April 2018 that Fisher Island, with an average income of $2.5 million in 2015, was America’s wealthiest ZIP code.
According to Jon Paul Perez, Related’s President stated, “We are currently working with our sales teams to develop our list of VIPs. People can live their entire lives on the island and, as such, develop close relationships with neighbors and fellow residents. That’s the feeling we want to create at our job. We want our buyers to get to know one another, and forge close friendships that elevate this beyond just another one of their homes.”
The proposed condo site, which is the last developable parcel on the 216-acre island, was just purchased for $122.6 million by Related Group, billionaire tycoon Teddy Sagi, BH Group, and Wanxiang America RE Group.
When the unnamed property is finished, units will cost about $30 million, while penthouses will cost more than $60 million.
Project Details:
3 to 5 bedroom residences
Membership to Fisher Island Club
Golf course
Tennis facilities
Marinas
The project’s architect is listed as Kobi Karl with interiors by Tara Bernerd and Partners.
Sales are expected to begin at the end of 2022 with construction anticipated in quarter 4 of 2023.
In July 2022, the developers, Mast Capital received approval from the FAA for the height allowance for the towers. On September 9, the contractor Moss Construction applied for a foundation work permit.
A second permit was filed on September 12th for the other 2 towers for foundation work. The county also issued a dewatering approval that is needed for the foundation work as well. Dewatering would include the removal of groundwater as well as from surface area.
Cipriani Residences Miami will feature 3 luxury towers spanning over 2.8 acres, located at 1420 South Miami Avenue in Miami’s renowned Brickell area, which will represent the famous brand’s elegant design and exceptional service.
The largest Cipriani tower will rise 80-stories and will feature 397 one to four-bedroom units with views of Biscayne Bay, Brickell skyline, and Simpson Park. The 2 smaller towers haven’t been revealed yet but will rise 59 stories and 50 stories tall.
Mast Capital paid $103 million, marking this transaction as one of the largest in Miami-Dade in 2021.
Cipriani is currently working with Mast Capital and Arquitectonica to bring this luxury building to life. Not only will the tower feature luxury amenities, but each residence will offer custom finishes and gorgeous designs.
Residence Features
• Generous living areas with ceiling heights of 10 feet • Floor-to-ceiling sliding glass doors and windows with magnificent panoramic views • Terrace access from the living room and primary bedroom of every residence • Gracious walk-in wardrobes in every primary bedroom • An exquisite selection of flooring options included • Direct elevator entry for select residences • Eat-in, open kitchen with custom Italian cabinetry inspired by Cipriani’s renowned style • Top-of-the-line appliances from Wolf Sub-Zero, including cooktop, integrated refrigerator, freezer, wine cooler, and dishwasher • Primary bathrooms with grand, stand-alone bathtubs and glass-enclosed showers; vanities with premium Italian cabinetry, imported stone tops, back-lit mirrors; separate room with water closet • Spacious laundry rooms with full-size washing machine and dryer, with a utility sink in most residences • Individually controlled, high-efficiency central air conditioning and heating systems, with linear diffusers in main areas to ensure seamless integration • Innovative smart technology infrastructure that enables home automation • Intelligent interface system for essential building services such as concierge, valet, and security
Cipriani has disclosed that the residential tower would have sophisticated, resort-style amenities for its inhabitants, as well as traditional design features popular at Cipriani restaurants worldwide.
Tower Amenities
• Exclusive private entrance with lush landscaping and elegant porte-cochère • Dramatic lobby leading to two banks of high-speed, touchless elevators • Signature private dining experiences by Cipriani • In-home dining and 24-hour catering services by Cipriani, exclusive to residents • Private dining rooms available for reservation, catered by Cipriani • Elevated resort deck with two swimming pools, a blissful outdoor spa, poolside cabanas, and a beautifully landscaped sun terrace • Poolside food and beverage services catered by Cipriani • Holistic spa with sauna and treatment rooms • Luxurious residents’ lounge for special events and intimate gatherings • State-of-the-art fitness center • Golf simulator • Pickleball court • Private salon available to be reserved for personal beauty services • Screening room with cutting-edge audiovisual equipment • Serene and spacious residents’ library • Engaging children’s playroom • Elevated four-level wellness center and lounge overlooking the Brickell skyline • Pet-friendly community with dog park • High-speed internet access across all public areas • Electric vehicle charging stations available • Air-conditioned storage rooms
If you or someone you know have an interest in purchasing at Cipriani Residences Miami, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Groundbreaking Officially Scheduled for The Standard Residences in Midtown Miami
Carlos Rosso, the company’s creator and the owner of Rosso Development, said that the groundbreaking is scheduled for the end of this year.
According to Rosso, condos at The Standard continue to sell at a fast pace. The project has already reached 70% sold as of May 2022.
Situated between the Design District and Wynwood, the Standard Residences will rise to 12 stores and will feature 228 luxury hotel branded units curated by Urban Robot and Standard International. Arquitectonica is listed as the architect on the project.
The luxury units range from 432 to 965 square feet of living space with the studio to two-bedroom floor plan options still available. Prices will range from $469,900 to $949,900
Price Breakdown
Studios starting at $469,900
1-bedroom starting at $699,900
1-Bedroom + Den starting at $809,900
2-bedrooms starting at $949,900
The units will feature cubby kitchens designed by Urban Robot, expansive 6′ deep terraces, and master baths with double showers. Unit owners will be able to rent their units for periods of up to 30 days with exclusive benefits to friends and family.
Amenities:
35,000 square feet of amenities
10,000 square feet of retail space
Expansive lobby with lounge areas and a cafe
Rooftop restaurant
Bar
60-foot resort-style pool
Sweat room and fitness center
Indoor pickleball court
Yoga and stretch studios
Karaoke bar
Pet Spa
Party room
Carols Rosso, owner of Rosso Development has stated that this is his first major development since he left the Related Group. Rosso hinted at additional Standard-branded residential projects in the pipeline.
Standard International, currently operates 16 hotels in the United States and across the world and owns a waterfront hotel on the Venetian Islands in Miami Beach named the Standard Spa.
The sales gallery is still under construction and is expected to be completed in October 2022. Construction on the actual tower has already started and the expected completion date is in 2024.
Co-Owner of E11even Nightclub and Partner at Titan Capital Acquired Land at Miami Worldcenter
For $30 million, Lynd Living acquired a Miami Worldcenter development site from a business run by Marc Roberts, co-owner of the E11even nightclub, and Ira Saferstein, a partner at Titan Capital.
The $4 billion master-planned mixed-use project spanning 27 acres in the Park West neighborhood of downtown Miami has added the San Antonio-based company as the newest multifamily developer to the group of apartment builders.
According to public documents, a Lynd associate purchased the roughly 0.5-acre parcel of land at Northwest 10th Street and North Miami Avenue and secured a $22.7 million financing through TIG Romspen US Master Mortgage. According to a news statement, Kevin O’Grady and Justin Neelis from Concord Summit Capital handled the finance and Lynd has hired the company to find a construction loan. Additionally, Concord Summit mediated the sale.
IRR Parkwest Investments, led by Roberts and Saferstein, was sold by the Miami-based legal firm Adams Gallinar, which was represented by attorneys Michael Gallinar and Jason Camps.
A 650-unit apartment building is permitted on the site of the development. A residential tower is being planned, according to David Lynd, CEO of Lynd. “For the time being, we are keeping it quiet. We’ll release more information as we prepare to enter the market.
According to records, the vacant property was a component of a 1-acre assemblage that IRR purchased in 2020 for $26.7 million. The remaining property is still owned by Roberts and Saferstein. Roberts, a former boxing promoter, joined master developers Art Falcone and Nitin Motwani as an early investor in the Miami Worldcenter project in the early 2000s.
In March, the Miami Worldcenter development property at 1016 Northeast Second Avenue was purchased for $40.5 million by the New York-based Naftali Group and Chicago-based Akara Partners. The CEO of Naftali, Miki Naftali, is constructing two residential towers, but the company hasn’t said whether the structures would house condos or apartments.
Adam Neumann, a co-founder of WeWork, received $108 million in construction financing in February for a new apartment building on a bare lot at Miami Worldcenter. It shares a boundary with Caoba, a 40-story apartment complex at 698 Northeast First Avenue. Both the development site and Caoba’s ownership organization were purchased by Neumann.
Related Group Requesting Permission to Develop Mixed Use Project on Miami River
The Related Group’s affordable housing division, Related Urban Development Group, is requesting permission to develop a mixed-income housing development on Miami-Dade County property close to the Miami River.
The ground lease and development agreement with the Miami-based developer for the 1.05-acre site at 395 N.W. 1st St. and 25 N.W. River Drive will be up for consideration by the County Commission on September 1. There is a two-story county office building there right now.
The site is close to Interstate 95 to the west, Flagler Street Bridge to the north, and Lummus Park to the south.
In January 2021, the county released a request for proposals (RFP) to find a developer for the land, and Related Group was selected as the successful bidder.
The developer would lease the land from the county under the proposal for 75 years in exchange for a $1.54 million down payment and annual fee equal to 16.5% of the project’s revenue flow. Over the course of the lease’s 75-year term, the county calculated that the payments would total $238.8 million.
The Gallery at Lummus Parc was a project that Related Group predicted would cost $151.7 million to complete.
It would include 439 apartments in two 30-story towers, as well as 5,400 square feet of retail space, a 478-place parking garage, and a cultural installation showcasing Lummus Park’s heritage. An overpass over Northwest First Street would connect the towers.
On the eleventh floor, there would be an amenities deck with a pool, a club room, a workout facility, Zoom rooms, a game room, and a lounge.
Some of the apartments would have cheaper rents and be income-restricted. According to the agreement, 20% of the flats would be reserved for residents earning up to 50% of the area median income and another 20% for residents earning up to 140%. There would be no constraints on income for the remaining flats.
Miami’s average household income is $44,268. The Gallery at Lummus Parc is anticipated to fill some of that demand as local workers have found it more and more difficult to afford residences in the city due to recent double-digit rent increases.
The sizes of the flats would be between 495 and 1,220 square feet. There would be 28 three-bedroom homes, 99 studios, 177 one-bedroom units, and 135 two-bedroom units.
The Related Group representatives declined to comment. According to the proposal, a federal opportunity zone investment fund, Charlotte, North Carolina-based Grandbridge Real Estate Capital, and low-income tax credit equity from JPMorgan Chase and Raymond James would all contribute to the project’s partial funding.
The concept was created by Miami-based CFE Architects. The developer is represented in the application by Miami attorneys Terry M. Lovell and Al Dotson Jr.
