Cornerstone Group Begins Planning Phase for New Development in Miami-Dade County
Royal Pointe Associates, controlled by executives from the Miami-based Cornerstone Group, submitted a pre-application to county officials for the 5.5-acre property at 11350 Dunbar Drive, which encompasses the majority of the block along Lincoln Boulevard and Booker T. Washington Boulevard. It has a deal with Miami-based Anvil Community Development for the unoccupied site.
Anvil Community submitted plans in 2019 to develop the land with 102 units, but construction has yet to begin. Because the land is in a federal opportunity zone, investors can benefit from large tax breaks.
The project would contain 102 units in four 3-story structures, according to Cornerstone Group’s plan. A clubhouse and 174 surface parking places would be provided. The only thing that would be missing from the development is a pool.
The units would range from 714 to 1,259 sq. ft as 30 one-bedroom units, 60 two-bedroom units, and 12 three-bedroom units.
Before filing official applications, developers submitted pre-applications to gain comments from county employees. The project was designed by Miami-based Burgos Lanza Architects & Planners.
Cornerstone Group sold 27 housing buildings in South Florida to Blackstone in January for a total of $575.7 million. Given the steep rise in rents in Miami-Dade, there is a strong need for additional affordable housing, and Cornerstone Group has the resources to develop it.
Triple Tower Development Proposed by Hyatt and Gencom on the Miami River
Hyatt and Gencom have recently formed a partnership with the goal to redevelop downtown Miami’s Hyatt Regency into a 3 tower development site located directly on the Miami River. This development is expected to enhance access in and out of the city, and revitalize a major section of Miami’s riverfront.
The proposal calls for a privately funded makeover that includes a reinvented Hyatt Regency hotel with over 1,500 residential apartments, meeting space, and open-air public space along the Miami River.
Three skyscrapers are planned for the site. 682 multifamily apartments, a 615-room Hyatt Regency with over 100,000 square feet of conference space, and 264 serviced apartments will be housed in Towers 1 and 2, which will rise 61 stories.
Tower three, which is expected to have 860 residential units, will be one of South Florida’s highest structures dubbing it a supertall tower. According to a spokesperson of the joint venture, the supertall tower would be 1,049 feet tall, which is the highest height allowed by Miami’s zoning standards.
The towers will be above a podium structure with 190,000 square feet of Class A conference space, which is a 50 percent increase over the James L. Knight Center’s current capacity.
Tower Proposal
1,806 apartments
20,000 sq. ft. of co-working space
615 rooms under the Hyatt Regency hotel brand
190,000 sq. ft. of meeting space
12,000 sq. ft. of food and beverage/retail space
Restaurant and lounge located in a skybridge linking the two shorter towers just 700 ft high
50,000+ sq. ft. of public space
1,100 parking spaces
Rebuilt riverwalk spanning 480 feet
Covered pedestrian bridge connection to Metromover’s Knight Center Station
Arquitectonica is listed as the architect. Construction on the Hyatt Regency Miami property is planned to begin in 2025 if voters approve the project in November 2022.
Aria Reserve will rise 62 stories tall reaching 627 feet, making it the tallest dual waterfront residential development in the United States. The project will feature two towers, each with 390 units and 1,608 parking spaces.
Sales for Aria began in June 2021 for South Tower and since the launch, its sales have been very successful. According to the Melo Group, over $40 million of all 12 penthouses have sold within the first 90 days of the launch. Now more than 90% of the units have sold with a total sales of over $600 million.
Construction deposits include a 30% deposit for all U.S. buyers and a 40% deposit for all international buyers. According to the developer, more U.S. buyers have purchased penthouses but overall units, the buyers have been half from Latin America and the other US buyers.
Residential units begin at $750,000. Although sold out, the penthouses started at $12 million. Units will feature 1 to 4 bedroom floorplans with 1,100 to 2,600 square feet of options. The penthouses themselves range from 3,500 to 9,000 square feet with each of them featuring a 3-car garage.
Tower Amenities:
2-acre recreation deck
Lap pool and spa
Gaming center
Playground
Tennis courts
Basketball courts
Paddle courts
Miniature golf course
Wellness center
Gym
Meditation Garden
Residence Features
Unobstructed views of Biscayne Bay and Ocean
Finished residences with two flooring options
All residences include 2 high-speed elevators
All residences include an office/media room
All residences are sunrise-sunset flow-through from East to West
3-month seasonal rentals allowed up to 4 times per year
The Aria Reserve groundbreaking ceremony is set for May 16, 2022. If you or someone you know have an interest in purchasing at Aria Reserve, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
St. Regis Residences Miami Launches Sales for 2nd Tower-The William Tower
The William Tower located in the heart of Brickell, is set to rise 48 stories tall and feature a limited collection of 183 residences which will include penthouses and sky villas. The collection itself will showcase 1 to 7-bedroom ‘Bayview’ units ranging from 1,400 to 8,000 sq. ft. floor plans.
Each of the luxury residences will feature unobstructed views of Biscayne Bay, the Atlantic Ocean, and the Miami Skyline. Each residence will come equipped with state of the art technology, custom flooring, custom cabinetry, and high-end appliances
The Residences
Private elevator and entry foyer to each residence
Double door entry in select residences
11-foot ceilings with integrated linear diffusers in living areas
Custom European marble flooring throughout
European solid wood doorways
All homes feature a powder room and laundry room
Integrated smart home technology
Kitchens
Gourmet kitchen with custom Italian cabinetry designed by Rockwell Group
Marble countertops and backsplashes
Fully integrated Sub-Zero and Wolf appliance packages, including:
Paneled refrigerator
Paneled freezer
Full-height wine refrigerator
Convection oven
Steam oven
Microwave
Dornbracht fixtures
Primary Suites and Bathrooms
Oversized walk-in closets
Midnight bar and butler’s pantry
Split marble top vanities with Dornbracht fixtures
Oversized marble showers and free-standing bathtubs
Private water closets with Toto toilets
St Regis Residences Miami Amenities
40,000 square feet of amenity space
On-premises ground floor, fine dining restaurant
Exclusive beach club access
Park-like grounds and lush terraces
State of the art media room
Business center with coffee bar and conference rooms
Children’s entertainment room
Teen video game lounge
Programmable golf simulator
Salon equipped for all beauty services
Pet spa, grooming, and dog walking services
Private, secure climate-controlled storage
Private marina
Fully equipped fitness center
Relaxation and juice bar
Indoor lap pool and cold plunge pool
Pilates and yoga studio
Salt spa room
Dual saunas and steam rooms
State of the art treatment room
Bayfront infinity pool and whirlpool with private cabanas
Poolside bar and cafe
Bayfront garden with seating area
St. Regis Butler service and in-room dining
St. Regis housekeeping services
St. Regis global membership privileges
31st Floor Sky Lounge
Double-height bar and lounge with water views
Signature St. Regis Cognac Room
Traditional St. Regis Tea Room
Billiards room
Catering Kitchen
Technologies
Keyless residential entry
Smart home climate and lighting control systems
State of the art fiber optic WI-FI service throughout residences and amenities
Easy to use St. Regis residents-only app
According to the email blast from the developers about the newest tower launch, each tower has its own personality and style, which shows in the newest renderings released. The developers for this project include the Related Group and Integra Investments with Robert A.M. Stern Architects as the leading architect.
If you or someone you know have an interest in purchasing at the St. Regis Residences Miami, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Calta Group Purchases Hollywood Development Site for $9.5 Million
A new apartment development could be in the works in downtown Hollywood. The Calta Group recently purchased the site located at 2215-2239 Hollywood Blvd for $9.5 million.
The 1.6-acre site was sold by Hollywood Construction & Development LLC which is managed by Joseph Horn of Miami. The same company purchased the site just late year in May 2021 for $7.7 million.
Several retail and office buildings currently occupy the site and would need to be demolished once the project is approved. The Calta Group, which is led by Ignazio, Gaetano Caltagirone, and Igor Blatnik plans to develop an 8-story apartment tower. The tower itself would feature 180 units and 1,800 square feet of ground-floor retail space.
The original design was proposed in 2019 by Borges Architects + Associates who would remain the lead for the project.
Amenities:
Pool deck
Business center
Gym
The groundbreaking will be scheduled for the 4th quarter of 2022 but the Calta Group still needs to select a general contractor for the project.
The Calta Group continues to make headway in Hollywood with their total construction projects reaching $1.5 billion.
Sales Launch for Society Residences in Downtown Miami
In the heart of downtown Miami, sits a new construction site of an up-and-coming tower developed by PMG. Society Biscayne was originally announced as an apartment tower but recently the developer decided to transition the apartment tower into residential units due to the lack of inventory in Miami. Now the property is officially Society Residences (now called The Elser).
The construction for the 704 unit tower is currently underway at their site located at 398 NE 5th St in Miami. Rising 47 stories (571 feet) tall, units will be presented as fully finished and fully furnished with luxury amenities and outstanding water views.
Visionaries
Developers: Property Markets Group (PMG) and Greybrook Partners
Architect: Sieger Suarez Architects
Interior design: Cotofana Designs
Building Features
47-story tower located in Downtown Miami
Designed by internationally renowned architecture firm Sieger Suarez Architects
Views of the Miami skyline, unobstructed views of Biscayne Bay and the Atlantic Ocean
Modern Residential Lobby with 24/7 Concierge
Electric Vehicle Charging Stations
Features the Latest Smart Building Technology
Destination Controlled Elevator Dispatch
Smart Package Lockers
Custom Society Residences app, linking residents to concierge services and building amenities- Digital Key- Guest Access- Payments- Package Deliveries- Messages from Management
Dry Cleaning & Laundry Service Lockers
Access-controlled entry points throughout
Valet Parking
Amenities
Lobby with Cocktail Bar and Restaurant by Jaguar Sun®
Over 19,000 square foot double-height amenity deck overlooking Downtown Miami and Biscayne Bay
Curated art and green walls throughout all common areas
132-Foot Resort Style Pool with private lounge areas
16 ft Poolside Screening LED Wall
Lawn with Theater
Sky Entertainment Lounge & Grilling Terrace featuring eight grills
Fully-furnished studios, 1, 2, and 3-bedroom residences
9’2” ceiling height with floor-to-ceiling windows
Balconies with stunning views of Biscayne Bay and the Miami city skyline
Porcelain wood-grain tile flooring throughout
Built-in full-size washer and dryer(in select residences)
Ecobee smart thermostat
Smart keyless entry
Pre-wired for high-speed communications, multiple telephone lines, and cable
Custom kitchen cabinetry by Italian design house Italkraft
Quartz kitchen counters
Frigidaire stainless-steel appliances including microwave, dishwasher, freestanding range oven, and refrigerator
Frameless glass-enclosed showers
Custom Italian vanities by Italkraft
Modern matte black kitchen and bathroom fixtures
Fully built-out California-style closet
Pricing:
Studios from $600K
One bedroom from $800K
Two bedrooms from $1.4M
Three bedrooms from $1.4M
The building is still under construction but the TCO is anticipated to be received by the end of June.
If you or someone you know have any interest in purchasing at Society Residences, please contact Lucas Lechuga via email at [email protected] or by phone at 786-247-6332.
Fortune International Group and Blue Road Group Announces Nexo Residences in North Miami Beach
Nexo Residences, a 254-unit condo building with no short-term rental limitations in North Miami Beach, has been launched by Fortune International Group and Blue Road.
The proposed site is located at 13899 Biscayne Blvd., with Blue Road of Bay Harbor Islands and Fortune of Miami having a deal with Aventura-based Tomaja LLC for the 1.74-acre site. Currently on this site is a 36,661-square-foot office structure, built-in 1958, which would be removed.
Nexo Residences, according to the developers, will be the first condo in North Miami Beach to allow short-term rentals. Some investors choose short-term rentals as a method to supplement their revenue by offering properties on home-sharing services like Airbnb.
According to the President and CEO of Fortune, Edgardo Defortuna, “Nexo Residences will serve as the premier short-term rental offering in North Miami Beach, an area that has been underserved in the hotel and rental products; most projects of this kind concentrate in downtown Miami and Brickell.”
The Nexo’s 15-story units would vary from 525-square-foot studios to 2,190-square-foot townhouses pricing beginning in the $400,000s.
Residence Features:
Fully finished
Floor-to-ceiling windows
Porcelain flooring
Built-in bedroom closets
Dedicated lockable owners’ closets
Expansive balconies with glass railings
European style kitchens
Quartz counters
Matte black fixtures
Smart key access
Self-service package system
Amenities
Lounge
Tech hub with a café and coworking space
Playground
Clubroom
Fitness center with a yoga studio and virtual trainer
Rooftop observatory deck
Pool deck
2 Spa pools with loungers
Private event area
The project will be designed by Frankel Benayoun Architects with landscapes and interiors by Urban Robot. According to the press release, Fortune International Group and Blue Road hope to break ground by the end of 2022.
JMH Development to Build 7 Story Luxury Tower in Miami Beach
The long-awaited Miami Beach condo project by JMH Development can finally move forward after the lawsuit against the developer was dismissed. The lawsuit included the actual condo site where the plans for this new tower would be constructed.
The project has been put on hold for 5 years due to a dispute between the original partnership of Jason Halpern (Managing Partner for JMH Development) and companies owned by Dhruv Piplani. In 2017, Piplani filed suit again Halpren and accused them of selling the property without permission of the co-investors.
When originally purchased, the property was purchased for $7.75 million by 29 ICD LLC, managed by Gerard Longo, who is noted as a longtime business partner of Halpren.
To add fuel to the fire, in 2020, Halpern filed for a $5.25 million mortgage foreclosure against the property. The original case was dismissed due to a breach of contract because PSB Indian Creek failed to make the $800,000 contribution toward the project in 2016.
According to Halpren, “In addition to Justice Masley’s ruling in favor of JMH Development across the board, the court awarded our client attorneys’ fees. This is a big win for our client, and demonstrates the egregious nature of the claims made against them.”
The project itself will be located at 2901 and 2911 Indian Creek Drive in Miami Beach. It is approved to rise up to 7 stories with 22 luxury condo units. The property itself will have to stay under 17,150 square feet and will also feature a rooftop pool, as well as a parking garage for 22 cars.
Groundbreaking Officially Scheduled for District 225
Developers for one of the newest pre-construction towers in downtown Miami, District 225, have officially scheduled the groundbreaking for the third quarter of this year.
The Related Group along with ROVR Development and BH Group have been working tirelessly on the sales ever since the launch of the tower in 2021. Since then the development has 100% sold out.
District 225 will rise 37 stories tall and be built without a parking garage and will also be one of the first tower with direct listings on Airbnb.
The buyers for the tower included domestic transplants, remote workers, and domestic transplants as well as 50% of the buyers coming from South America.
According to Jon Paul Pérez, President of Related, “We launched District 225 as an experiment of sorts. And while we knew this unique product would resonate with buyers, the demand has surpassed even our most optimistic projections. Related has long been at the forefront of trends, and we are proud to once again be at the cutting-edge of the market.”
What makes this project unique is its home-sharing capabilities as well as its resort-style amenities. Siegler Suarez Architects partnered with Meshberg Group will be responsible for the design.
District 225 will total 343 unit spanning over 288,400 square feet with studios to 2 bedroom floor plans. Studio pricing will begin around $350,000 up to $700,000 for the 2-bedroom floor plans. There will also be 2,297 square feet of commercial space located on the main floor.
District 225 Amenities
Rooftop pool
Fitness center
Indoor/outdoor basketball court
Racquetball court
Rock-climbing wall
Yoga/spinning studio
Coworking spaces
Lounge with billiard tables
Summer kitchen
Residence Amenities
Views of Biscayne Bay and Miami skyline
Fully finished and furnished studios, one-, and two-bedroom residences
9.8-foot-high ceilings
Smart-home technology experience for seamless personalization with the touch of a button
Interiors designed by award-winning interior design firm Meshberg Design
Fully built-out closets in all residences curated by Meshberg Design
Includes integrated audio, video, window treatment, and lighting systems
Equipped with a contemporary lighting package, including recessed lighting, dimmers, and lighting control
Built-in, top-of-the-line washer and dryer
Flooring selections included with specifications recommended by Meshberg Design
Pre-wired for high-speed communications and data connection
Kitchens featuring custom Italian cabinetry curated by Meshberg Design
Smeg appliance package including an integrated, paneled microwave; dishwasher; built-in convection oven; and refrigerator/freezer
Master baths featuring rainfall showerhead and custom Italian vanities
Dornbracht and Duravit bathroom fixtures, features, and accessories
The building will be professionally managed by Atlantic & Pacific, which will have staff educated in all elements of Airbnb hosting, including listing, marketing, maintenance, and cleaning.
