Bal Harbour Shops’ Ambitious Expansion Plan: A Blend of Luxury and Workforce Housing
Bal Harbour Shops, a renowned shopping center in Florida, is set to undergo a transformative expansion that promises to reshape the community’s housing landscape. The owners of Bal Harbour Shops have filed an exciting proposal to build an expansion that includes 600 residential units, a move aimed at addressing the critical need for housing for various community members. This development has been made possible through Florida’s new Live Local Act, which allows developers to bypass certain local zoning regulations in exchange for a commitment to create workforce housing.
The visionary behind this project, Matthew Whitman Lazenby, President, and Chief Executive Officer of Whitman Family Development, sees the expansion as an opportunity to diversify the area’s housing market. Lazenby expressed, “By adding workforce and market-rate housing catering to service and hospitality workers, teachers, first responders, and other workers who are the backbone and lifeblood of our community and who are currently priced out of the market, Bal Harbour Shops will diversify the area’s housing market so that people who work in this Village can actually live here.”
The expansion will consist of two distinct types of residential units. First, 40% of the units will be dedicated to workforce housing, providing an attainable living option for essential members of the community. These units will offer comfortable and quality living spaces designed to cater to the needs of service industry workers, teachers, and first responders.
The remaining 60% of residential units will be luxurious, maintaining the premium design, finishes, and features that characterize Bal Harbour Shop’s luxury brand. This blend of workforce and luxury housing creates a unique living environment that promotes inclusivity and diversity while maintaining a high standard of living.
Apart from residential units, the expansion plan includes a 70-room upscale hotel, adding to the allure of Bal Harbour as a destination for visitors and tourists. Additionally, 45,700 square feet of retail space will be integrated, providing residents and visitors with more shopping options.
The new towers are set to rise to approximately 275 feet, similar in height to the St. Regis Bal Harbour Resort across the street. The design places a strong emphasis on pedestrian access and street-level activations, ensuring that the development seamlessly integrates with the surrounding community. New entry points to the development will enhance accessibility and encourage community engagement.
Currently, Bal Harbour Shops is eagerly awaiting the issuance of a building permit. Once this milestone is reached, the first phase of the project will commence with the construction of an attainable housing tower on the property’s southwest corner. Subsequently, the luxury housing and hotel will follow, further enhancing the community’s housing and hospitality offerings.
Luxury Redefined: St. Regis Residences Miami Unveils $45 Million Penthouse
The first of two upper penthouse residences at St. Regis Residences Miami, has recently been listed for a staggering $45 million. This duplex penthouse boasts over 10,000 square feet of sumptuous living space, augmented by a 2,842-square-foot indoor/outdoor private roof deck. The deck is nothing short of an oasis, featuring a pool, spa, and a summer kitchen, all set against the backdrop of Biscayne Bay and Brickell’s breathtaking views.
The visionary developers, Related Group and Integra Investments, have entrusted the architectural design to Robert A.M. Stern Architects (RAMSA) and the interiors to the acclaimed Rockwell Group. This collaboration promises an unparalleled standard in luxury living.
RAMSA, taking their first plunge into South Florida’s residential market, drew inspiration from the majestic ocean liners of the golden age, seamlessly blending it with the contemporary elegance of skyscrapers. The result is a 50-story tower that will house 152 condominium homes, ranging from two to six bedrooms. This includes the penthouses, sky villas, and two exclusive garden villas, each offering a unique living experience synonymous with the St. Regis brand’s historic five-star services.
Nick Pérez, President of Related’s Condominium Division, emphasizes the unparalleled exclusivity and service associated with the St. Regis name. He notes that the penthouse’s debut at the St. Regis Residences, Miami, is a landmark moment for both the development and the Brickell neighborhood, raising the bar for luxury living.
The penthouse units, occupying floors 48-50, feature five bedrooms and seven baths. Each level is graced with outdoor terraces, and the pièce de résistance is the dramatic private rooftop. The Rockwell Group’s interior design marries the grandeur of the Brickell and Astor families with Miami’s relaxed coastal ambiance, creating an extraordinary living environment. The primary bedroom suite is a study in opulence, with features like a midnight bar, dual bathrooms, split stone top vanities, oversized stone showers, and a freestanding bathtub.
Residents of these penthouses will enjoy an exclusive lifestyle with amenities like a private internal elevator, entry foyer on the penthouse levels, soaring 11’6” ceilings in living areas, and custom European stone flooring.
The St. Regis brand’s commitment to excellence extends to its amenities. Residents will have access to over 50,000 square feet of indoor and outdoor spaces, including a professional-grade fitness center, pilates and yoga studio, pickleball court, private marina, world-class spa and wellness center, and an indoor lap pool. The signature butler services enhance the living experience with offerings like deliveries to residences, house car, shoeshine service, and more. The building is nestled within park-like grounds designed by Enea Garden Design, providing a serene environment.
For dining, residents will have access to the iconic St. Regis Tea Room and a private fine-dining restaurant helmed by Michelin-starred chef Fabio Trabocchi. This adds a new dimension to the phrase “dining in,” promising an exceptional culinary experience.
The St. Regis Residences Miami, is not just a development; it’s a testament to luxury living, combining architectural brilliance, exquisite design, and the unparalleled service of the St. Regis brand. It’s where exclusivity meets the zenith of opulence.
1940 Bay Drive: A Vision of Modern Living in Miami Beach
Miami Beach is set to witness a transformative residential project at 1940 Bay Drive, thanks to the innovative vision of 1940 Apartments LLC. This Sunny Isles Beach-based entity, steered by Erwin Sredni, Jonatan Sredni, and Scott Albus, has put forth ambitious plans for a new architectural landmark in the Normandy Isle area.
The proposal outlines the construction of a 5-story multi-family residential building, replacing an existing 23-unit apartment complex. Designed by Revuelta Architecture International, with landscape architecture by Gardner + Semler, this 55-foot-tall structure promises to redefine the area’s skyline. The project will introduce 12 state-of-the-art condominium units, varying in size from 2,807 to 3,019 square feet, marking a significant upgrade in residential living.
Occupying approximately 35,400 square feet, the site currently features a building spanning 29,213 square feet. It is situated in the RM-1 Residential Multifamily Low-Intensity Zoning District, a prime location amidst a bustling residential enclave characterized by multi-unit condominiums and apartment buildings along Bay Drive.
The design team has focused on creating a modern, curvilinear structure that offers a softer edge to the neighborhood’s streetscape. Each unit boasts open-concept living areas, refined lines, and expansive windows to capture the stunning Miami Beach skyline. The exterior will feature smooth white stucco finishes, wood trim slats on balconies, aluminum garage cladding, and brise soleil, complemented by blue-green tinted laminate glass with light gray aluminum framing.
This project extends its aesthetic appeal with comprehensive landscaping plans, aiming to increase landscape coverage and introduce lush green elements. The design envisions a verdant atmosphere, integrating seamlessly with the building’s façade.
In alignment with Miami Beach’s need for effective parking solutions, the project reduces the number of residential units while incorporating on-site parking facilities. This approach is expected to alleviate parking scarcity, minimize traffic impact, and enhance the neighborhood’s quality of life.
Monika Entin from MHE LAW PA represents the developers in this initiative. The Design Review Board of Miami Beach is set to review the submitted plans today, potentially marking a significant step forward in the city’s residential landscape development.
1940 Bay Drive stands as a testament to the evolving architectural and lifestyle aspirations of Miami Beach. This project not only promises luxurious living spaces but also aims to harmoniously integrate with and enhance the surrounding community, heralding a new era of urban development in Miami Beach.
Coral Gables’ 4225 Ponce Development, a Class A+ Commercial and Retail Opportunity
Constellation Group, a distinguished commercial real estate investment and development firm based in Miami, in collaboration with The Boschetti Group, has successfully secured a substantial $33 million construction loan from Miami’s Banesco USA and Abanca. This funding is a strategic investment in the development of a Class A+ boutique office and retail complex at 4225 Ponce de Leon Boulevard, located in the heart of Coral Gables, South Florida’s City Beautiful and Merrick Park district. Renowned for its upscale shopping and entertainment, this area is a hub for economic growth and opportunity.
Eduardo Otaola, the Managing Principal at Constellation Group, highlighted the significance of this partnership and the potential of 4225 Ponce to introduce a unique, boutique-style Class A office environment to Coral Gables. This development is strategically positioned in a market that is currently experiencing limited supply, making it an attractive investment opportunity.
The project involves an eight-story building, spanning approximately 85,000 square feet between 4225 and 4311 Ponce de Leon. This venture is distinguished by its innovative design from the internationally acclaimed architectural firm, Arquitectonica. The luxury boutique-style Class A Office will feature 5,900 square feet of ground floor retail space, extensive parking facilities, 70,000 square feet of premium office space, and a rooftop food and beverage venue of 7,000 square feet, offering panoramic city views.
Amelia Rodriguez, Senior Vice President of Banesco USA, expressed optimism about the sustained economic growth in South Florida and the role of 4225 Ponce in enriching Coral Gables’ status as a prime business and cultural hub. This project aligns with Banesco USA’s vision of investing in innovative and dynamic projects, indicating a strong future for similar endeavors.
Monica Vasquez, General Manager at Abanca, emphasized the transformative nature of this collaboration, aimed at enhancing the urban, cultural, and economic landscape of Coral Gables. This development is a testament to Abanca’s commitment to supporting visionary and impactful projects.
Set to break ground in Q4 2023 and slated for completion in 2025, this project signifies a major revitalization initiative around Coral Gables’ Merrick Park district. It aims to elevate the business and consumer landscape of the area. Interior Architects, Inc. and Naturalificial will play crucial roles in designing the interior and landscape, ensuring a harmonious blend of nature and modernity.
Investors should note the project’s unique features, including four stories of Class A+ office space, a rooftop restaurant with city views, outdoor terraces, ground-floor retail spaces, and a 1,500-square-foot lounge. The addition of a covered pedestrian plaza and paseo with valet parking service is expected to enhance the appeal and functionality of the development, making it a lucrative investment opportunity in a thriving economic zone.
Mariners Bay Condo Set to Transform into a 20 Story Development
The Mariners Bay Condo, a familiar name for those who know the area, is set for a transformative makeover. Imagine a stunning 20-story building rising majestically, offering 267 units of luxurious living space. This unnamed development isn’t just a condo; it’s a lifestyle upgrade waiting to happen.
The proposed project will include 12 townhomes and a range of condos from one to three bedrooms. Development amenities include a fifth-floor swimming pool, a state-of-the-art fitness center, spa, children’s playroom and media room. The project also calls for 433 parking spaces.
Set to be located at 12000 N. Bayshore Drive, North Miami, Florida, 33181, this development promises an ideal balance of serene residential living and convenient access to Miami’s vibrant life. It’s a short drive from the beautiful Oleta State Park and just east of I-95.
Plans include revamping the 20-slip marina, adding yet another luxurious touch to this already promising development.
While the project awaits approval, it’s exciting to think about the potential transformation of the Mariners Bay Condo, a structure from the 1980s in need of significant repairs, into a modern haven.
3900 Alton Road Development Tops Off Construction
Mast Capital, together with its partner Rockpoint, has recently celebrated a significant achievement in their construction project at 3900 Alton Road. This new nine-story building in Miami Beach, a creation of renowned Arquitectonica with landscape design by Within Hults + Partners, introduces 178 upscale units to the market.
The project, managed by Kaufman Lynn Construction as the general contractor, was recently highlighted in a LinkedIn video marking its topping-off ceremony. JGR Construction, Inc. and US American Concrete are handling key structural and concrete aspects of the construction, with Coastal Metal and AKO Plumbing Corp contributing to the metalwork and plumbing, respectively. Additionally, two tower cranes from Morrow Equipment and formwork solutions from Doka USA are in place, while NV5, Inc. oversees construction materials testing.
Funded by a $64 million loan from PNC Bank in November 2022, the groundbreaking of this Miami Beach residential project set the stage for its anticipated completion. The first units are expected to be available by Fall 2024, in line with Mast Capital and Rockpoint’s aim to offer high-quality living spaces in a sought-after South Florida neighborhood.
Camilo Miguel Jr., CEO of Mast Capital, expressed his enthusiasm about the project, emphasizing its unique position in the Miami Beach real estate market, known for its limited availability of developable land. Unlike most new developments in the area that focus on properties for sale, this project targets the growing demand for luxury rental housing.
The building’s design features a blend of luxury and functionality, offering studio to three-bedroom apartments with high-end finishes like Italian cabinetry, porcelain flooring, and spacious balconies. The development also boasts amenities such as an elevated pool deck with bay views, BBQ and outdoor gaming areas, fitness and yoga studios, a resident lounge, co-working spaces, and a pet washing station.
Dan Domb, Managing Member at Rockpoint, also highlighted the importance of this development. He noted the strong demand for premium rentals in Miami Beach and the partnership’s strategy to invest in multifamily residences in the high-demand, limited-supply South Florida housing market.
Mast Capital’s significant role in Florida’s real estate scene is underscored by its diverse portfolio, which includes various residential and commercial properties across the region. The firm’s ambitious growth strategy involves acquisitions totaling over $3.5 billion in project capitalization and developing more than 4,000 residential units in South Florida’s Fort Myers and Tampa metro areas.
Origin Residences Reaches 70% Sold
In the heart of Bay Harbor Islands, a new landmark development is rapidly emerging as a beacon of luxury and exclusivity. The Origin Residences by Artefacto, launched only six months ago, has already achieved a remarkable sales milestone, with 70% of its units sold. This impressive feat positions it as one of the fastest-selling residential buildings in the area, underscoring the enduring allure of Miami’s waterfront lifestyle.
Origin Residences is the brainchild of a unique collaboration between Chile-based VDA | Origin Miami and the internationally renowned home furnishings brand Artefacto, headed by Paulo Bacchi. VDA, led by the visionary duo Mauricio Moya and Sergio Guzmán, is a prominent development company in Chile, bringing its expertise to this ambitious project.
The development promises to elevate Miami’s Bay Harbor Islands with 27 custom finished and furnished condominiums. These luxury boutique residences range from two-to-four bedrooms, with sizes spanning from 1,300 to 2,330 square feet. Starting prices were pegged at an impressive $1.390 million, a testament to the project’s premium offerings.
Interestingly, a significant proportion of the buyers are Brazilians, reflecting South Florida’s increasing appeal to Brazilian investors. The Miami Association of Realtors highlights Brazil as the third top international homebuyer market in 2023, further emphasizing this trend.
Mauricio Moya, VDA Miami’s lead developer, attributes these remarkable milestones to the insatiable demand for authentic Miami waterfront living. He highlights the exceptional common area design by Carla Guilhem, a globally acclaimed designer handpicked by Artefacto. “Together, we have created a project that redefines luxury waterfront living in South Florida,” Moya states, emphasizing the transformative lifestyle and unique opportunities offered at Origin Residences.
The project is not just about elegant living spaces; it’s a holistic experience. The residences boast stunning waterfront views and access to a private marina with 10 boat slips. The development also features a range of top-tier amenities like a rooftop pool, summer kitchens, an Owner’s lounge, a kid’s playroom, a coworking space, and a state-of-the-art gym.
Each unit reflects Carla Guilhem’s exquisite design ethos, with floor-to-ceiling sliding glass doors, private balconies, fully equipped kitchens with high-end appliances, modern bathrooms, and ample storage space.
Complementing the project’s luxurious interiors are the architectural designs by Revuelta Architecture International, known for its sustainable and quality designs. The project’s interiors, curated by Carla Guilhem, are meticulously designed to match the dynamic lifestyles of its residents.
Origin Residences by Artefacto is not just another development; it’s a testament to visionary planning, exceptional design, and the ever-growing appeal of Miami’s waterfront luxury lifestyle. As it nears completion, it’s poised to leave an indelible mark on the Bay Harbor Islands and the broader South Florida region.
The Rise of Mandarin Oriental Towers in Miami’s Exclusive Brickell Key
The Mandarin Oriental Towers project in Miami’s prestigious Brickell Key represents a significant investment opportunity. Currently in the advanced stages of permitting, with applications already submitted to Miami’s Building Department, this development is progressing rapidly towards construction, ahead of its planned condo sales launch in early 2024.
This ambitious project, exempted from UDRB review as confirmed earlier this year, comprises two distinct towers. The first tower is an architectural marvel, soaring to 65 stories and housing 228 luxurious condominium units. Standing at an impressive 826 feet, the construction of this tower involves a hard construction cost of approximately $237 million, inclusive of $663,600 in initial permitting fees.
The second tower offers a diverse mix of residential and hospitality options. It includes five levels of parking, eight levels of high-end lodging with 121 rooms, four levels of a condo-hotel featuring 28 units, and ten floors dedicated to 66 condominium units. This tower entails a hard construction cost of around $226 million, with $632,800 required for upfront permitting fees.
Moss & Associates, renowned for their construction expertise, are the appointed contractors for both towers. The project is spearheaded by Hong Kong-based Swire Properties, a name synonymous with high-quality developments. Kohn Pedersen Fox, a globally acclaimed architectural firm, is responsible for the design of these towers.
For investors seeking to capitalize on a premium real estate opportunity, the Mandarin Oriental Towers in Miami present a compelling proposition. With its strategic location, distinguished design, and robust development plan, this project is poised to redefine luxury living in Miami.
Rosewood Hotel and Residences Reveals $150 Million Penthouse in South Beach
Rosewood Residences, a 17-story luxury condo tower in the heart of Miami’s South Beach, designed by renowned architect Peter Marino. This project includes a record-setting penthouse, poised to be Miami Beach’s most valuable property, with a valuation exceeding $150 million. Scheduled for completion in 2026, this asset represents a rare opportunity in one of the world’s most desirable real estate markets.
The development, a fusion of high-end hotel, restaurant, and residential spaces, spans three acres on 18th Street and Collins Avenue, incorporating the historic Raleigh Hotel. Managed by the prestigious Rosewood Hotels & Resorts, this project is designed to redefine luxury living, offering unparalleled amenities and exclusive experiences.
At $10 million for a three-bedroom residence, with larger and more exclusive units available, the condominium promises substantial returns. The project’s pricing strategy aligns with luxury real estate trends in major cities like New York. The unique location and high-end offerings of this development present a compelling value proposition for discerning investors.
In 2019, developer Michael Shvo, in partnership with Deutsche Finance Group, acquired and envisioned a transformative project for the iconic Raleigh Hotel and adjacent properties. Shvo’s vision, endorsed by Miami Beach’s mayor, combines historic preservation with modern luxury, creating a unique investment proposition.
Peter Marino’s design emphasizes simplicity, elegance, and unobstructed ocean views, offering a refreshing contrast to typical Miami architecture. The building’s design is a testament to innovation, with units featuring high ceilings and premium materials, curated for an elite clientele.
Managed by Rosewood, the Residences promise a lifestyle of unrivaled luxury. Residents will enjoy hotel-style services, including the US outpost of the famed Milanese restaurant Langosteria. This holistic approach to luxury living makes the Rosewood Residences a standout investment in Miami’s property market.
Michael Shvo’s commitment to creating an unmatched product in Florida’s luxury real estate landscape is evident.
