David Martin of Terra Group Acquires Prime 15.5 Acre Previous Miami Herald Site in Downtown Miami for $1.225 Billion from the Genting Group
Terms have been agreed upon for the purchase of a 15.5-acre development property on Biscayne Bay in Downtown Miami by SmartCity Miami LLC, an investment company led by Miami-based Terra and its CEO, David Martin. Genting Group will sell the property to the organization for $1.225 billion (USD). The closing is scheduled for later this year.
The property, which is located at 1431 N Bayshore Drive in Miami, has 800 linear feet of direct Biscayne Bay frontage and highly aggressive zoning in one of the city’s most vibrant and connected neighborhoods. A notable mixed-use commercial, retail, residential, hospitality, and entertainment destination could be developed on the location.
The buyer of the property is a longtime Miami resident, Miamian David Martin, CEO of a Miami-based development firm, Terra Group.
According to Martin, “This is a prized piece of real estate in the heart of one of the world’s most dynamic and fastest-growing cities, and we are honored to have been selected as the property’s next owner. At Terra, we have a long history of enhancing communities and transforming neighborhoods through careful planning, beautiful design, and a focus on connectivity and resiliency. Our development on Biscayne Bay will continue this tradition. “
Martin continues, “The scale and location of this site offers the opportunity to do something spectacular, something that all Miamians can take pride in, and we will deliver nothing short of that. For now, our team is focused on understanding the full potential of the property and the surrounding area. Our vision will evolve as we learn more. Over time, we will arrive at a plan that elevates Downtown Miami, improves access to the waterfront, and is welcomed by our community.”
The rare riverfront location in the Omni District was valued at just about $1.5 billion. The 15.5-acre development site, known as BayCity Miami, now hosts ArtMiami’s Art Wynwood show in February as well as CONTEXT Art Miami every year during Miami Art Week. The Miami Herald’s main office had stood on the land and was destroyed in 2014.
The Resorts World operator Genting Group, which owns 10 acres of land west of Biscayne Boulevard, will continue to be involved in the Omni neighborhood. Genting Group is one of the biggest resort, entertainment, and gambling organizations in the world.
The property, which spans many lots and once housed the Miami Herald’s headquarters, is zoned RTZ for mixed-use in Miami-Dade and is in the Metromover subzone (Rapid Transit Zone). The land has limitless buildable square footage, no setbacks, a height limited only by the FAA standards (649 feet), and a potential density of more than 8,000 units according to South Florida’s most benevolent zoning designation. The RTZ zoning offers builders a sizable, incredibly flexible building envelope as well as the chance to create a unique waterfront development on the site.
By comparison, Miami Worldcenter is 27 acres.
13th Floor Investments and Key International Reach an Agreement with Presbyterian Church Site to Move Forward with Construction
At 609 Brickell Avenue in Miami, a new 80-story project, created by Sieger Suarez Architects, and developers 13th Floor Investments and Key International is moving forward.
The congregation and the Miami-based developers have a “transaction and development agreement,” according to a memo filed with the Miami-Dade Clerk of Court on March 2nd. The developer’s right to purchase the property, their duty to build the project there in accordance with the agreement, and their duty to transfer ownership of the new church improvements to the church after substantial completion are all included in the terms of the agreement. Only a memo verifying the existence of the arrangement was recorded. Other details of the agreement have not been released.
13K-BP Brickell Owner LLC is identified as the developing firm, while Arnaud Karsenti is mentioned as the developer’s authorized signatory on the letter. The project’s goal is to utilize the land that is currently used for parking and a religious school building at the back of the property while maintaining the main church structure.
The agreement provides a number of advantages for the congregation and might be worth $240 million to the church. As part of the arrangement, the church will be granted access to 148 parking spaces, 90,000 square feet of space in the new structure, and a small park. In exchange, the church will receive $48 million in cash, 15% of condo sales estimated to be $125 million, and a portion of revenue from the restaurant on the ground level.
The iconic 1949-built First Miami Presbyterian Church, was named a historical landmark in 2003, will continue to stand. The church had previously struggled with money, including a $7 million tax obligation in 2018 as a result of selling part of its lands.
The document submitted to Miami-Dade County does not specify the specific terms and conditions of the sale. It does, however, confirm “the Developer’s Obligation to Construct the Project on the Property in Compliance with the Agreement.”
Miami’s Review Board Approves New Construction Development in Overtown- Block 19
Miami’s Urban Development Review Board has given the green light to Overtown Block 19, a 25-story mixed-use development slated at 1159 Northwest 1st Court in Overtown.
The approximately 275-foot-tall building, which was designed by Nichols Architects with Witkin Hults + Partners serving as the landscape architect, is being developed by RNG Overtown LLC in Morganville, New Jersey. It will have 606,942 square feet of space divided between two towers connected by a podium, including 413 multifamily units, about 20,000 square feet of ground-floor retail, and 505 parking spaces.
The property is surrounded by Northwest 11th Terrace, Northwest 1st Court, NW 12th Street, and NW 1st Avenue and is part of Block 19 of the Alice Baldwin Subdivision. Within the Southeast Overtown/Park West Community Redevelopment Agency (SEOPW CRA) section of the city, the site consists of unimproved land.
The land is a part of a 1.16-acre Transit Oriented Development District (TOD) that spans from 1129 to 1159 Northwest 1st Court and 105 to 113 Northwest 11th Terrace. It is located four blocks north of the Overtown/Lyric Theatre Metrorail Station and south of Interstate 395.
Aluminum and clear glass window walls, smooth off-white, green, and light blue painted stucco reinforced masonry walls, and cast-in-place concrete wall projections make up the outside facade of the structure. The building’s pedestal will have panels with wood patterns, aluminum and glass storefront systems, art murals, and horizontal aluminum louvers. The balcony slabs will have dark metal railing systems.
As it combines cultural arts, produces sustainable jobs, promotes the neighborhood as a destination for culture and entertainment, and enhances the quality of life for Overtown inhabitants, Overtown Block 19 complies with the Southeast Overtown/Park West CRA Redevelopment Plan.
Construction jobs, long-term jobs for on-site facility maintenance, and commercial use will all be created by the project, which also includes artwork by a local artist to activate the facade and raise cultural awareness in the neighborhood.
Onda Residences in Bay Harbor Islands Tops Off Construction
In Miami’s Bay Harbor Islands neighborhood, the 8-story Onda Residences has topped off on construction by Ugo Colombo’s CMC Group and Valerio Morabito’s Morabito Properties.
The building, called Onda meaning ‘Wave’ wascreated by Bernardo Fort-Brescia of Arquitectonica. Carlo and Paolo Colombo of A++ Human Sustainable Architecture built the interiors, and award-winning landscape architect Enzo Enea of Enea Garden Design created the rich landscaping. The development’s general contractor is Coastal Construction.
Onda Residences is located 1135 103rd Street, and are made up of 41 immaculately finished units with floorplans that range from two to four bedrooms including den ranging from 1,809 to 3,535 square feet. Up to 5,073 square feet are devoted to four penthouse houses, two of which have rooftop swimming pools. Pricing for the luxury units start at $5 million.
Residence Features
Office/den
Private and semi-private high-speed elevators
Floor-to-ceiling impact-resistant sliding glass doors and windows
Roomy tiled terraces with private gardens
Open floor plans with up to 9-foot grand ceiling heights
Fully equipped Snaidero kitchens with top-of-the-line Miele appliances
Bathrooms with Italian marble and wood cabinetry
Exquisite Italian flooring throughout
Energy-efficient air conditioning and heating
With more than 300 linear feet of bay frontage and panoramic views of Biscayne Bay and the Atlantic Ocean, Onda’s premium Bay Harbor Islands location is unrivaled. One of Onda’s most well-liked attractions is its private marina, which has 15 boat docks and is only accessible to homeowners. Together with immediate ocean access via Miami’s Haulover inlet, the property will also feature a water sports launch station with kayaks, paddle boards, and inflatables accessible for use.
Development Amenities
Rooftop pool deck and lounge area
State-of-the-art fitness facility with Technogym equipment
Yoga studio
Spa with massage treatment rooms
Changing areas
Steam bath and sauna rooms
Covered valet drop-off area
Personal parking spots
Electric vehicle charging stations
Bicycle storage
Home storage space
Cutting-edge security, and technology
Onda is estimated to be completed in Q4 of 2023 and 85% of its units have already been sold. If you or someone you know have an interest in purchasing at Onda Residences Bay Harbor Islands, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Michelin Names 8 New Miami Restaurants to The Florida Michelin Guide
Eight new Miami additions to the Florida Michelin Guide were unveiled by Michelin. The Michelin Guide classified the businesses as “New,” encouraging diners to try new and exciting restaurants in Miami.
The yearly Michelin announcement of Bib Gourmands and stars has yet to be released and Michelin occasionally “teases” its annual guides by presenting brief lists in prominent cities.
The announcement was explained in a statement by Gwendal Poullennec, the international director of the Michelin Guides, “We improve our digital tools to further strengthen the bonds that unite us to food lovers. By revealing some of the new additions made by our inspectors throughout the year.”
According to the press release, any of the 8 restaurants on the list may be awarded a Bib Gourmand or star during the annual star ceremony.
It mostly indicates that the Michelin team of inspectors is actively looking for restaurants in Miami to include in the 2023 Florida Michelin Guide. A restaurant also needs to merit its inclusion in the annual guide. Ten restaurants in Miami received one star when the Florida Guide was published in June 2022, giving them a total of 65 spots. The only establishment to be awarded two stars was L’Atelier de Jol Robuchon. The coveted three-star rating only goes to a select few great restaurants like the French Laundry, Alinea, and Eleven Madison Park. No Miami eateries have ever received this honor.
No location or date for the 2023 Michelin Florida Star Reveal Ceremony has been determined. The ceremony was previously Orlando in June 2022.
Michelin Guide Florida: New Miami Additions, February 2023
Brasserie Laurel- French-inspired cuisine inside downtown Miami’s new Miami Worldcenter.
Rosie’s- Brunch garden in Little River with Akino West as Chef.Fiola Miami- Coral Gables Italian restaurant by Michelin-starred, Fiola D.C.
Walrus Rodeo- Wood-fire cooking by the Boia De team.Lido- Surf Club with a champagne bar and delectable Italian food.
Lion & the Rambler- Chef Michael Bolen makes a classic spin on American cuisine.
Tambourine Room by Tristan Brandt- Modern/classic French and Asian inspired dishes.
The Gibson Room- American fare with modern inspired cocktails.
Rooftop Restaurant Giselle to Open Friday February 3rd
On Friday, February 3, the glitzy new restaurant Giselle will open on the rooftop of the illustrious nightclub E11EVEN Miami. Giselle is brought to you by E11EVEN and hospitality group The Restaurant People, where executive chef Gustavo Zuluaga will weave together global flavors in dishes like whole crispy snapper with aji amarillo aioli and Peruvian salsa criolla.
Giselle’s menu is extravagant, with items such as bluefin tuna truffle cones topped with 24-karat gold leaf. Truffle toast, flaming lobster thermidor, Peking chicken, Japanese A5 snow-aged wagyu, a flaming Australian wagyu tomahawk, caviar, seafood towers, oysters with Champagne mignonette granita, and other extravagant offerings are available.
Truffle toast, pork ribs, Chilean sea bass, filet mignon, and a flaming lobster thermidor are among the dishes on the menu. For those who can’t decide, a six-course tasting menu is available.
The cuisine incorporates French, Asian, South American, and Mediterranean flavors. This makes sense given his background, which includes stops at L’Atelier de Jol Robuchon in Miami, Zuma, Komodo, and Juvia before becoming executive chef at Laurent Tourondel’s Dune in Fort Lauderdale.
Guests enter the restaurant by taking a private elevator up to the rooftop restaurant, where they will walk through the mosaic-lined tunnel into the space, which features a retractable roof that spans the entire indoor-outdoor restaurant.
Giselle’s marble-adorned 14-seat bar features digital art display cases showcasing the work of Miami-based filmmaker and producer Frank Kelly, who was commissioned to create a custom short film series for the space. The adjacent lounge and terrace area features black marble dining tables with views of the Miami skyline, while a neon sign that reads “I’ll be here, if by chance, you’ll be here too” rules the space.
Giselle is located at 15 NE 11th St, Miami, FL 33132 with hours at Wednesday through Sunday 6pm to 3am.
37 Story Tower Designed by Arquitectonica and Developed by 13th Floor Investments in Now Complete
Cascade, a 37-story multi-family building at 3050 Southwest 37th Avenue in Miami, is now complete. The building, designed by Arquitectonica and developed by a joint venture partnership between Miami-based real estate developers 13th Floor Investments and Adler Group, in collaboration with global investment manager Barings, contains 421 modern apartment homes ranging in size from 510 to 1,323 square feet.
The residential tower is the second to be completed within the 7-acre Link at Douglas master plan, which is bounded to the north by Peacock Avenue, to the east by Southwest 37th Avenue (Douglas Road), to the south by Shipping Avenue and South Dixie Highway, and to the west by Southwest 37th Court. The building’s general contractor was Civic Construction, and it received its Temporary Certificate of Occupancy (TCO) from Miami-Dade County on January 5.
The 37-story tower is located at the intersection of two of Miami’s most desirable neighborhoods, Coconut Grove and Coral Gables, and is adjacent to the Douglas Road Metrorail Station, US-1, the city’s main thoroughfare, and The Underline, a 10-mile linear park, urban trail, and public art destination. Residents have direct access to the Metrorail system, bus lines, and the Miami and Coral Gables Trolleys, making commuting to Brickell, Downtown Miami, and the Health District a breeze.
The property’s interiors, designed by DesignAgency, feature teak wood and textured wall designs that contrast with matte black accents, creating effortless elegance without exclusivity. Earth tones can be found throughout, from the lobby lounge’s relaxed greenery and natural wood details to a lush garden display outlining the expansive amenity deck, providing serenity in each space.
Stone-wrapped kitchen islands, floor-to-ceiling windows, and in-unit washers and dryers are features of the residential units. Tall matte lacquer soft close cabinets, full tile backsplash, modern ENERGY STAR® appliances, porcelain tiled showers, front-lit vanity mirrors, and wood-look flooring are among the superior features and finishes. Select residences have inboard private balconies.
Cascade’s amenities include a resort-style pool with luxury lounge seating, cabanas, a poolside bar, an outdoor movie screen, and a game room with a foosball table, billiards, shuffleboard, and card tables, a basketball half-court, a yoga studio, grilling stations, outdoor dining areas, an indoor social lounge with comfortable seating, modern kitchen, media room, and a kids’ playroom, and an onsite dog run and wash.
The Link at Douglas master plan will include approximately 1,600 residential units, over 32,000 square feet of retail space, and a public plaza connecting to The Underline. Cascade’s sister property, CORE, a 22-story multifamily tower with 312 apartment residences and 6,000 square feet of ground-floor retail, opened in 2021.
One River Point Receives FAA Height Approval
The Federal Aviation Administration has given its certification for the One River Point towers in downtown Miami. The FAA allowed the towers to rise to a height of 788 feet above ground, or 797 feet above sea level, in a letter that was sent out on January 16.
The same property received FAA approval in 2014 for a construction height of 928 feet above ground (that approval expired in September 2018). The FAA then gave the towers additional certification in 2019.
Developers Edgardo Defortuna of Fortune International Group and Shahab Karmely of KAR Properties announced their collaboration to construct the buildings in November 2022.
The original developing company sold the property to the new partnership for $58.85 million.
According to records, Bank OZK gave the developers a $38 million loan for the 1.8-acre site at 24 Southwest Fourth Street in Miami. According to Defortuna, the loan is a line of credit to be utilized for the 386-unit luxury condominium’s development, sales, and marketing. After the unit plans are completed, sales should begin this year.
The developers will make a few changes while maintaining Rafael Violy’s original concept. An 85-foot waterfall, a three-story glass skybridge that floats in midair, and an exclusive members-only Adrian Zecha “Sky Club” on the 55th level with two restaurants, a cigar lounge, a wine cellar, and a screening room were all originally planned.
If you or someone you know have an interest in purchasing at One River Point, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Miami’s First Distillery Opens February 2023
Tropical Distillers, a liqueur manufacturer, has opened Miami’s first distillery. A fully automated distillery with an on-site cannery, a 30-seat bar, and tasting room, and a gift shop with items only available at the distillery are all included in the area.
The facility creates JF Haden’s Craft Liqueurs line, which includes flavors including mango, lemon, and coffee. Also being developed are several additional goods.
Buzzy Sklar, the CEO and founding brand partner of Tropical Distillers, together with Mike and Maurkice Pouncey, two former NFL players, and real estate agent Kim Rodstein are partners in the distillery.
According to Sklar, “doesn’t fit any mold; we are one-of-a-kind in Miami, offering locals and visitors alike a unique beverage destination that is not only entertaining and aesthetically pleasing, but also informative.”
Visitors will be able to sample cocktails including the Cafecito Martini, Floridian Martini, and a variety of frozen drinks on Fridays and Saturdays from 5 pm until midnight.
A 1,500-square-foot outside deck at Tropical Distillers offers more seats and access to nearby food trucks. The neighborhood of Allapattah’s 8,000-square-foot location was scheduled to debut in December 2021 but was held back.
From Thursday through Sunday, at 1 pm, 3 pm, and 5 pm, there are guided tours available for $25. The event includes pick-ups from places in Miami and tastings of five different concoctions.
