Terra Group Receives $141M Construction Loan for Mixed-Use Project in Bay Harbor Islands

Miami’s very own Terra Group has received a $141 million construction loan for its Bay Harbor Islands mixed-use project.

According to a statement from a Terra affiliate that owns the site, the Coconut Grove-based business received finance for its construction at 1177 Kane Concourse. The lender is Mack Real Estate Credit Strategies.

Terra, led by David Martin, spent $31.5 million for the site on Kane Concourse and West Bay Harbor Drive in June.

The release states that the project would include a residential aspect as well as Class A workspaces as well as retail space. There will be a “signature food and beverage” concept on the main level of the tower.

Specifics on the project have not been released like square footage and where the tower will include condominium units or apartments.

Northwood Ravin and Wharton Equity Partners’ Wharton Urban real estate investment platform obtained clearance from the council in 2020 for 90 residential units, 98,800 square feet of office space, and 14,900 square feet of commercial space. Terra Group took over the development agreement issued to the sellers by the Bay Harbor Islands Town Council.

Last summer, soon before Terra purchased the land, the Town Council agreed to transfer the development agreement to Terra’s affiliate.

Terra Group also developed 900 Biscayne Bay, Quantum on the Bay, and Eighty Seven Park.

Construction is set to begin summer of this year.

Miami is Getting St. Regis Branded Twin Condominium Towers

The Related Group and Integra Investments are teaming together to transform the beachfront site of an affordable senior living housing facility in Miami into a pair of luxurious St. Regis-branded condo buildings. The towers are expected to rise 48 and 47 stories tall on 3.16 acres on 1809 Brickell Avenue.

The same architect who designed 220 Central Park South and 30 Park Place in New York will be the designer for this twin tower 354 unit development, Rober A.M Stern Architects. The interiors will be designed by the Rockwell Group, a New York-based design firm that is also responsible for NEMA and Treehouse Hotel.

Since 2014, Miami-based Integra has owned the existing bayfront building, formerly known as the Stanley Axelrod Towers. Integra paid $14 million for the 17-story tower currently located at the pre-construction site called the George Humphreys Tower built-in 1966.

According to documents from the Department of Housing and Urban Development withdrew the building from its affordable housing agreement in summer 2021. This implies that one of the remaining affordable housing complexes in Miami’s Brickell Financial District, one of the most expensive districts, will be demolished shortly.

According to a principal at Integra, Nelson Stabile, “Given the insatiable demand for top-tier residential product, we feel the market is ready for a bespoke building of this caliber — a masterpiece with an elevated lifestyle experience that only the iconic St. Regis brand can deliver.”

Units are expected to range from 1,300 to 7,000 square feet with prices starting at $2 million. Throughout the twin towers will span 55,000 square feet of amenities that will include a St. Regis Tea Room, an indoor lap pool, and a residents-only restaurant.

While the building will not include a hotel and short-term rentals will not be authorized, St. Regis Hotels & Resorts, located in New York, will provide services to future condo tenants.

Related and Integra expect a $2 billion sellout once the St. Regis Residences have been completed. The sales center is expected to launch in 2022 simultaneously with the sales. The ground breaking is expected to occur in 3rd quarter of 2022.

Aston Martin Residences Presents the Penthouse Collection

Aston Martin Residences Penthouse Collection

In the wake of top-off on construction for the sail-shaped Aston Martin Residences, a series of exclusive penthouses known as the Penthouse Collection was unveiled. There are currently 7 sprawling penthouses in the collection for the 66-story super-tall skyscraper. The most unique thing about these penthouses is that each floor plan and finishes are custom and 100% gorgeous.

The penthouses begin on floor 56 right above the amenity deck. Two of the penthouses, which are at least 8,800 square feet in size and cost between $16.7 million and $25 million, have already been sold. While the developer releases the collection, here is some exclusive information on penthouse number 5!

This penthouse located on the 60th-floor features 12,397 square feet of indoor and outdoor living space. Expanding through the entire floor, you will find 4 bedrooms, 6.5 bathrooms, and staff quarters. With 360 degrees of ocean and Miami views, this penthouse has it all, from the white marble to the floor-to-ceiling windows and beyond. Each penthouse includes a gym and a private terrace with a pool.

Did we also say that once you purchase one of the Penthouse Collection units, an Aston Martin DB11 or DBX will become yours? That’s right. And what makes it so much better is that you’ll be able to park your new Aston Martin in the signature garages designed just for your luxury car.

The lower-floor apartments, all of which face the ocean, start at a still-generous 3,600 square feet and $5.525 million, and include access to the building’s members-only community.

Development Information

Developer: G&G Business Developments
General Construction: Coastal Construction
Architect and Design Team: Luis Revuelta of Miami and Bodas-Miani-Anger of Argentina

Residence Features

Private service entrance at basement level for all move-ins and personnel
Bulthaup custom cabinetry in kitchens
White marble floors throughout the entire unit and porcelain in all balconies
Quartz countertops in the kitchen. Piatra Grey (Ceasarstone) or similar
Gagganeau appliances in all residences: (sizes depends on units)
Duravit wall-mounted toilets in all units throughout the building and bidets in select units
All bathrooms feature marble floorings and walls (Thassos or similar
Hansgrohe faucets in secondary bathrooms and exclusive Axor model in master and powder bathrooms
Italian Bertolotto doors with AGB hardware in all units
Wood-paneled front doors to residence with programmable smartphone technologies such as NFC and Bluetooth
Floor soundproofing system installed throughout all units including all bathrooms
Walls dividing units with corridors will be 10″ wide with layers of Quiet Rock improving soundproofing
German Schuco hardware on sliding glass doors
ThyssenKrupp “Destination Dispatch” elevator system from main lobbies getting passengers to their destination in the shortest travel time and enabling access only to their own floor for enhanced security
High-speed elevators going up to 1200 feet per minute
High-speed internet and Wi-Fi hotspots in all common areas
Cast iron pipes and risers avoiding Waterflow noises

Amenities

Full-service building with concierge and hospitality-inspired services
Super Yacht Marina facilities
“The Aston Martin Club” membership
Rooftop infinity pool located on 55th floor
Fitness Spa and Fitness Center with Meditation
Room and Treatments Suites
Private Steam, Sauna, and Locker Facilities
Pet-friendly building
Building designed with a helipad on the rooftop
24-hour valet and covered garage self-parking
Valet charging stations for electric cars
Valet Butler
Additional bicycle and private storage spaces
10 destination controlled super hi-speed elevators
and separate dedicated service elevators
Digital connection to concierge and all building
amenities from every residence
State-of-the-art Business Center and Conference Rooms
Art Gallery and Art Lobby on 53rd floor
Private Residence Movie Theatre, Event Space,
Kids Playroom, Teen Center, and Game Rooms
Virtual Golf
Beauty Salon with blow-dry station, pedicure chair,
manicure table, and wash stations

This luxury tower is already 75% sold and continues to sell out quickly. Construction for Aston Martin Residences is expected to be completed in 2022. If you or someone you know have an interest in purchasing at Aston Martin Residences, please contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332.

Plans Submitted in Miami for S-Shaped Mixed Use Tower

S-shaped Proposed Construction Tower in Miami

In 2018, plans for a 60-story mixed-use project located at 1370 NE 2nd Avenue in Edgewater was proposed. The proposal was expected to bring 100,000 square feet of office space, 1,100 residential units made up of condos and rentals, and 1,100 parking spaces. The developer, Cresent Heights purchased the land in March 2017 for $64 million but the project came to a standstill.

Now, alternative plans for the site have been submitted that still would include a large mixed-use complex. The developer for this project will still be Cresent Heights and they will be combining the $64 million dollar property with land owned by the School Board of Miami-Dade.

The 1.13-acre development site will be designed by Rafael Viñoly Architects and the towers themselves will take the shape of an S. The project will include 1,441 residential units, 100,000 square feet of office space (dedicated offices for the School Board of Miami-Dade County), auditorium, 19,673 square feet of office space for Cresent Heights, 5 levels of amenities, and nine levels of parking. The towers will rise 43 stories reaching 649 feet tall.

Amenities:

bowling alley
indoor basketball court
indoor lap pool
indoor running track
management office on the ground floor
9 parking levels (3 public, 6 restricted)

The developer has chosen to have the proposal reviewed by Miami-Dade County under the Metromover Subzone Zoning Standards. The move permits them to avoid the more stringent planning, zoning, and design approval required by the City of Miami.

Chillax: Diesel Wynwood to Include a Sensory Room for Residents to Disconnect

We are constantly seeing innovative and unique amenities in new developments in Miami. Those include helipads, a Dezervator (car elevator), and a “soccer field in the sky.” Now we can add a sensory room to the list thanks to the new pre-construction tower Diesel Wynwood.

Sensory rooms are environments designed to provide the user with an immersive sensory experience that includes varying lights, sounds, colors, sensory cues to calm, and other sensories that promote emotional and cognitive development. They are intended to assist users in engaging with their senses and reaping the advantages of sensory stimulation in a safe and calm atmosphere.

Sensory rooms have been in the news more recently especially in South Korea with the opening of a sensory cafe near Seoul Forest. According to Insider.com, South Koreans are so stressed that they are paying to visit this indoor sensory room so they can relax and do absolutely nothing for any amount of time they would like.

This cafe known as the Green Lab features floor-to-ceiling glass windows looking out at the lush vegetation of the Seoul Forest. In this room, customers must silence their phones and they cannot speak during the experience. According to a Green Lab employee, Bae Hyum, “It’s so hard to find spaces in Korean society where it’s acceptable to do absolutely nothing.”

As for the newest pre-construction tower in Miami, the Diesel Wynwood sensory rooms will feature restorative seating for relaxation, meditative visual features, and media installations. New information on these sensory rooms is being released every day and we are very excited to fo this newest amenity in a soon-to-be iconic tower in Miami.

Aston Martin Residences Construction Update

Aston Martin Residences New Construction

Aston Mar t in Residences is nearing the top off of the 66-story ultra-luxury tower located at 300 Biscayne Boulevard Way. Situated in Downtown Miami, this remarkable tower will be one of the Miami skyline’s most unique towers. Designed by BMA Arquitectos & Asociados with Revuelta Architecture International, the 816-foot tall sail-shaped skyscraper will vertically span 1.9 million square feet making it the 2nd tallest tower in Miami.

With Miami-based developer G&G Business Developments and the general contractor as Coastal Construction, the tower is progressing quickly. In October, the tower had already reached the 63rd floor. Now construction is at the 65th floor with netting taking the place of the floor-to-ceiling windows that will eventually be installed.

Vegetation is currently appearing on the pool deck located on the 55th floor as well. We are also seeing contractors carrying large sheets of floor-to-ceiling glass windows and installing them on the 52nd floor. Most of the mirrored siding/windows have been installed from the main to the 52nd floor. Rebar is also being placed on the perimeter columns of the top-floor penthouses.

Units range from studio to 4 bedroom floor plans with square footage beginning at 698. The largest square footage is 27,191 square feet for a penthouse unit that spans over three floors. Sales for Aston Martin Residences began in 2020 and since then a majority of the inventory has sold. River and Panoramic units start at $750,000 and rise to $8+ million depending on the floor plan and unit location. As for the Sky and Penthouse residences, units begin at $14 million reaching well over $50 million.

Aston Martin Residences Tower Construction