Location Ventures Proposes a 16 Story Condo Tower in Coral Gables

Coral Gables’ continued growth is being hinted at by Rishi Kapoor’s, Location Ventures’ proposal for a 16-story condominium. According to documents submitted to Coral Gables, Location Ventures plans to construct an 87 condo tower on a 1.6-acre plot at 1505 Ponce De Leon Boulevard, as well as at 122 and 126 Menores Avenue.

According to the minutes of the June meeting of the Coral Gables Planning & Zoning Board, the developer has a contract with the seller, who is a partner of Tibor Hollo’s Florida East Coast Realty, to purchase the land.

At its meeting on Tuesday, the municipal commission is anticipated to vote on the request. In the event that the proposal is authorized, commissioners will vote on it a second time at the next meeting.

According to documents, Coral Gables-based Location Ventures intends for seven of the units to be live-work condos on the lower levels of the structure and the other 80 would be located on the upper levels. A 319-car garage, 10,500 square feet of retail space, 20,144 square feet of open space, and a public dog park would also be included in the project.

According to property records, the site is mostly empty save from a two-story, eight-unit apartment structure. According to the minutes of the planning & zoning board meeting, the historic structure, built in 1925, will be maintained and integrated into the project, maybe as retail space.

The finished 13-story, 39-unit Villa Valencia condominium at 515 Valencia Avenue is one of the company’s developments in Coral Gables. In 2018, Location Ventures had invested $16 million in the property.

The business spent $20 million buying a pair of commercial structures in Miami Beach at 1260 and 1234 Washington Avenue last year. Under Location Ventures’ Urban co-living brand, the 1260 Washington Avenue property will be refurbished, while the 1234 Washington Avenue building will be rehabilitated.

Okan Group Officially Breaks Ground on 70 Story Okan Tower

On Friday, June 17, the community along with Miami notables gathered to witness the groundbreaking for Okan Tower, a new Downtown Miami megaplex with residences centered by a Hilton Hotel. The tulip-inspired design of Okan Tower, the largest Turkish investment in the United States, is a nod to the nation’s national flower.

This project will be Okan Group’s first development in the United States. Located at 555 North Miami Avenue, the 70-story Okan Tower, which will stand 902 feet tall, would rank among Miami’s highest structures. The tower has 64,000 square feet of “Class A” office space, 236 Short-Term Rental Residences powered by Hilton Hotels & Resorts, 163 Sky Residences with special owners-only facilities, and a 316-key Hilton Miami Bayfront Hotel with a full suite of amenities and entertainment spaces, etc.

The Okan Tower was created by the eminent architecture company Behar Font & Partners, whose stunning façade curves were influenced by the tulip, the Turkish flag flower.

The Okan Group manages a large portfolio of renowned mixed-use projects that have given the company a worldwide reputation in the construction, banking, textile, production, and tourism industries, among others.

Mayor of Miami Francis Suarez, former Turkish Prime Minister Binali Yildrim, Turkish Ambassador to the United States Murat Mercan, Turkish Consulate of Miami Feyza Barutcu Altug, former Turkish Consul of Miami Burc Ceylan, Miami Police Chief Manuel Morales, Commissioner Ken Russell, and Fortune International CEO Edgardo Defortuna were among the dignitaries present for the groundbreaking

Amenities:

• 24-hour reception and concierge
• 70th-floor rooftop pool and sky deck with private cabanas
• 12th-floor lap pool with clubroom and lounges
• State-of-the-art health and fitness center with yoga studio, Peloton bikes, and fitness MIRROR.
• Sauna, steam, and treatment rooms
• Children’s sensory and playroom
• Theater
• Wine cellar
• Owner’s lounge

The completion date for Okan Tower is set to be complete in 2026. If you or someone you know have an interest in purchasing at Okan Tower, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.

Related Group Proposes 15 Story Residential Development on Biscayne Bay in North Miami

The Related Group has officially submitted plans for a new development located in North Miami, Icon Residences. The development is projected to cost around $150-million and rise 15-story project sited on a one-acre tract of land at 2305 NE 123 Street. The site currently is occupied by the two-story White House Inn, which was built in 1969, closed in 2014, and vacant.

Icon Residences will feature 54 luxury residences, each costing an eye-popping $4.6 million, to be built right at the Shepard Broad Causeway’s entrance, with views across Biscayne Bay to the towers of Sunny Isles Beach to the northeast and due east across Bay Harbor Islands to Bal Harbour – as well as the yards and windows of the single-family homes of Keystone Point just north across the canal. The site would also allow for 184 feet of water frontage.

The Related Group is requesting that the city increase the building height limit on the land from 35 feet to 169 feet, which is the identical height of the Majorca Bay tower located at 11930 N Bayshore Dr., just a few blocks over. The entire height of Icon Residences would be 184 feet, including the 15-foot mechanical plant near the rooftop swimming pool.

Between the White House Inn site and Majorca Bay, related and other entities are considering or preparing a future skyline of structures of similar height. The White House Inn site is presently limited to 35 feet of construction under North Miami’s 2017 Comprehensive Plan, whereas the bayfront land to the south is permitted to 115 feet.

The Keystone Homeowners Association, which covers the area of more than 900 properties, held a full community meeting on May 19 in the recently opened Wildcat Center at 1600 NE 126th St. to discuss their frustrations with this project.

Pedro Gassant, a Holland & Knight partner representing the Related Group, made his best case, claiming that the Icon project would eliminate the vagrancy and illicit dealings currently plaguing the site and bring in $1.7 million in tax revenue in the first year and $45 million over 20 years for the cash-strapped city.

A 184-foot structure, according to Eric Riel, an urban planner who has lived within 500 feet of the projected skyscraper, is incompatible with the single-family dwellings shown immediately across the canal.

The new North Miami Planning Commission meeting is scheduled for June 28th at 7pm at North Miami City Hall.

Edgewater Tower Proposed by Aimco is Denied Approval

After a city of Miami board refused to recommend approval of Aimco’s plans for a luxury rental tower in Edgewater, the developer is determined to revaluate the development plans and come up with a solution to get these plans moving forward.

After identifying a number of “serious concerns” with the design, members of the Miami Urban Development Review Board voted on Wednesday to reject plans for the proposed mixed-use development across from Aimco’s Hamilton on the Bay tower. Despite the board’s rejection, Aimco can still seek approval for the project.

The board was initially split on whether or not to recommend acceptance of the proposals with conditions, with three members voting in favor and three voting against. As a result, the developer can either withdraw its application and start the process all over again, or the board can vote to decline the recommendation, allowing the developer to submit amended plans to the planning director for final approval.

Aimco’s attorney, Tony Recio, a partner at Weiss Serota Helfman Cole + Bierman, said the developer is examining the board’s ideas and looks forward to “addressing their criticisms with the planning director” as the project moves further. Recio submitted the concept to the board of directors on Wednesday.

Though they praised the project’s overall design, board members expressed concerns about circulation on the ground level, including how residents and restaurant customers would access parking, apartments, and the restaurant, as well as loading and trash collection, landscaping, and an oversized mail room.

At 555, 560, 600, 610, 620, 630, and 640 Northeast 34th Street, Aimco, a publicly traded multifamily real estate investment company located in Denver, has proposed a 60-story, 241-unit tower. On more than an acre of land, the construction would include a new parking structure and 4,700 square feet of commercial space for a restaurant on the bottom level facing the water.

Aimco has made a significant investment in Edgewater. It paid over $90 million for the Hamilton on the Bay rental complex, which is currently undergoing substantial renovations, nearly two years ago. A nearby vacant lot and a modest rental building were included in the purchase.

Following the cancellation of its tenants’ leases at the Hamilton last year, Aimco purchased premises across the street, where the new project would be built.

New Interior Renderings Revealed for Casa Bella Residences Miami

Casa Bella Residences Miami is one of the newest pre-construction developments that will soon join the Miami skyline. At first, we only were able to see a small glimpse into the design of the project due to just a few exterior renderings being released.

Now, the developer has revealed interior shots of the project and they are a must-see. The newest interior renderings include the lobby, an upper lounge area, a restaurant, a gym, penthouse interiors, and much more.

Casa Bella will feature 3 towers and 2 will rise 57 stories while 1 will rise 50. The first tower will feature 300 luxury units although 1,430 residential units have been approved for the site. The towers will have 1,629 parking spaces and will be connected by a podium.

Tower 1 at Casa Bella will feature 1 to 5-bedroom floor plans with only 6 units per floor. Interiors will be designed by Pierro Lissoni with landscape architecture by Enzo Ena. The double-height lobby will also be designed by Lissoni and will feature a mixture of sophistication and modern designs with a permanent collection of museum-quality art located throughout. 

Unit Features

• 306 luxury condos including an exquisite penthouse collection of 24 penthouses
• Residences offer 1, 2, 3, and 4-bedroom layouts with 10’ ceilings
• Penthouses offer 2, 3 + Den, and 5-bedroom layouts with 11-12-foot ceilings
• Units range in size from 711 to 5,890 square feet
• All residences feature 2 private elevators and a foyer, which is unique in Miami
• Biometric access-controlled elevators
• Floor-to-ceiling impact-resistant windows
• Modern European-style kitchens and bathrooms designed by Piero Lissoni featuring Italian cabinetry by ItalKraft
• Premium black glass appliance packages with integrated 36” Sub-Zero refrigerators/freezers, integrated paneled dishwasher, built-in Wolf convection oven, and speed oven, and oversized stainless-steel radius sink with faucet drawer
• Master bathrooms, designed by Piero Lissoni, boast frameless glass-enclosed showers, oversized tubs, imported porcelain flooring/wet walls, backlit vanity mirrors, and separate water closets
• Two penthouses feature private rooftop terraces complete with private summer kitchens and spa tubs
• Select units offer powder rooms
• Spacious private terraces with spectacular water and city views
• Casa Bella offers an extraordinary opportunity to have your residence curated by B&B Italia, Italy’s leading furniture brand

Tower Amenities

• 2 full floors of private amenities
• State-of-the-art wellness and fitness center offering on-demand services
• Yoga room
• Spinning room
• Salon with manicure/pedicure stations
• Adult entertainment lounge
• Game room
• Kid’s playroom with smartboard and educational games
• Residents’ party room
• Wine room
• Movie theater
• Museum-quality curated art collection
• High-tech business center with conference room
• Co-workspace
• Pet spa
• Expansive pool deck situated on the 11th floor overlooking Biscayne Bay
• 78’ lap pool
• Outdoor spa
• Poolside bar and café
• Poolside cabanas and lounge areas
• Towel service
• Sun-care kiosk
• Open-air lawn perfect for yoga
• Lush gardens were designed by acclaimed landscape architect Enzo Enea
• Pickleball court
• BBQ with outdoor dining area
• Ground-level restaurant open to the public
• 56th-floor Sky Terrace boasts rooftop pool and observatory (650 feet) with a high-tech telescope
• 24-hour valet parking
• 24-hour security
• 24-hour maintenance staff
• Multilingual team on site
• On-demand concierge services are available including housekeeping, grocery shopping, “while you’re away” butler services, dry cleaning, childcare, pet care, courier services, translation service, and more
• Residents enjoy a 1-year complimentary membership at the Grand Bay Beach Club in Key Biscayne

The location of this tower places residences near the Adrienne Arsht Center for the Performing Arts and the Miami International University of Art and Design. The Omni Station Bus Loop is also 1 block away.

In May, Casa Bella sold 60% of its inventory in just 5 months. Currently, international buyers are representing around 50% of new construction developments while earlier in the year, they were only representing 20%.

Construction for the development is estimated for winter 2022 with an anticipated completion date of 2025. If you or someone you know have an interest in purchasing at Casa Bella, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.

540 Unit Tower Planned for Miami’s Art & Entertainment District

With plans for a 540-unit apartment skyscraper in Miami’s burgeoning Arts & Entertainment District, LCOR is making its South Florida development debut.

According to public documents, Pennsylvania-based, LCOR purchased 1.1 acres of land at 1775 Biscayne Boulevard from a corporation owned by Aventura orthopedic surgeon Barry Silverman and his wife, Judy Silverman. The location lies on the outskirts of Miami’s Edgewater district.

Webster Bank provided LCOR with a $33.4 million loan while Walker & Dunlop’s Keith Kurland and Michael Stepniewski represented them in the financing transaction.

According to the developer’s news release, LCOR has proposed a 40-story skyscraper with studios to two-bedroom apartments all equipped with stainless steel appliances, washers and dryers, and quartz countertops.

Amenities:

• 600 space garage
• WiFi throughout the building
• Gym
• Rooftop pool deck
• Outdoor patio
• Grilling space
• Tenant lounges
• Co-working spaces
• Conference spaces
• Package retrieval services
• 14,000 square feet of ground-floor shops

The Silvermans initially planned a 53-story mixed-use skyscraper on the site with 444 residential apartments, 200 hotel keys, 45,600 square feet of commercial space, 64,500 square feet of office space, and a 546-parking garage through their V Downtown subsidiary. A Miami board approved the necessary exemptions for the construction in 2017, but the project was never completed.

LCOR’s first ground-up project in South Florida, according to the statement, but the business has been investing in the region and other Southeast regions for more than a decade.

According to its website, LCOR is a real estate developer, manager, and investor with a $9.5 billion portfolio of finished, under construction, and pre-development projects. The California State Teachers Retirement System, Ares Management, and PGIM are among its partners. LCOR’s CEO is Anthony Barsanti, and its senior vice president is Anthony Tortora.

Construction is anticipated to begin in early 2024 with completion in 2026.

Renderings and Sales Launched for Major Residences Miami

Major news for the infamous hospitality group, Major Food Group! Major Residences (renamed 888 Residences), the 1,049-foot-tall skyscraper, is setting a new benchmark from the minute tourists approach the site. Major ushers in lifestyle-driven hospitality and great home architecture for Miami as a combined vision of four industry heavyweights, MFG, JDS, Studio Sofield, and Ken Fulk.

According to the group, “This is the tallest, the most brilliantly designed, the best-in-class hospitality experience, with the best club, in the best city in the world.”

Major Residences will be located at 888 Brickell Avenue in Miami and will have 259 unique luxury apartments ranging from 1 to 4 bedrooms designed by Studio Sofield and set to open in early 2026, with sales for the project commencing July 2022. Each of the Major units will be designed as a hybrid plan, with a “lockout” function that allows for smooth conversions between a private residence, suite, and/or guest room.

Amenities:

• Access to the exclusive Major Club
  • Entertainment
  • Sports
  • Leisure
  • Wellness
  • Fitness
  • Pool deck
  • Terrazzo-clad sun deck
  • Private cabanas
  • Poolside service w/ a Major Food Group restaurant
• 115,000 square feet of facilities

The Food & Beverage program will contain trademark Major Food Group brands and wholly new ideas developed by longstanding partner Ken Fulk, unique to Major Residences Miami.

The tower, designed by William Sofield, has a beautiful façade of ivory travertine and high-gloss steel columns, giving it a defined, graphic look and distinguishing it from the surrounding structures.

The Porte-cochere, in a significant architectural gesture of skill and quality, greets with Gatsby-level enthusiasm via gold leaf trims, massive slabs of travertine, and white-glove service, setting the tone for the building’s mood.

Major Residences Miami is estimated to be completed summer of 2026. If you or someone you know have an interest in purchasing at Major Residences Miami, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.

70% Sold for Standard Residences

In November Rosso Development along with Standard International announced their collaboration on a development project in Midtown Miami, The Standard Residences Midtown Miami. Now, the Standard has reached 70% sold in only 5 months.

Situated between the Design District and Wynwood, the Standard Residences will rise 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 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 June 2022. Construction on the actual tower has already started and the expected completion date is in 2023.

Two Roads Development Buys $150 Million Edgewater Site for a 3 Tower Project

Two Roads Development recently purchased a $150 million development site in Miami’s Edgewater neighborhood, with the intent to build a 3-tower luxury condominium complex.

With the purchase of Biscayne 21, a 1960s-era condo with 191 units, Two Roads obtained the 3.5-acre beachfront lot located at 2121 North Bayshore Drive for $150 million.

Arquitectonica’s Bernardo Fort-Brescia will design the tower, which will contain branded apartments and luxury condo units.

Three Roads Development plans to build the 3 towers rising 60 stories tall or about 649 feet tall with up to 750 residential units and apartments.

The sellers which include 176 unit owners, were represented by an Avison Young team led by John Crotty and Michael Fay. More than two years ago, the unit owners came together and hired Avison Young to offer their property in bulk to Two Roads Development.

According to the Avison Young team, the unit owners were able “to negotiate for a multiple of more than three times what the sellers would have sold their individual units for on a one-off basis.”

Two Roads is a West Palm Beach and Miami-based developer that is known for its other towers including Elysee and Biscayne Beach.