Related Group and Two Roads Propose New 24 Story Tower-The Residences of Bal Harbour
The Related Group and Two Roads Development are partnering to create a new condominium project in Bal Harbour, The Residences of Bal Harbour.
The developers paid $135.2 million for an existing 88-unit condo tower and land located at 10245 Collins Avenue.
The proposed tower is expected to rise 24 stories tall featuring 61 luxury residences and 160 parking spaces which will be located in the basement of the tower.
Residence Features:
Waterviews from each residence
Wraparound balconies of each residence
3 to 5 bedroom floor plan options
3,258 to 4,754 square feet
High-impact floor-to-ceiling glass windows and sliding glass doors
Tower Features:
Separate ground floor, state-of-the-art fitness center
Ground-floor restaurant
Rooftop pool
Rooftop bar
Groundfloor pool
Private beach access
CFE is listed as the architect for the project with Skidmore, Owings & Merrill as the designer.
The Architectural Review Board is scheduled for October 6 to review an updated proposal for The Residences of Bal Harbour.
New Residential Project Proposed in Sunset Harbour
With proposals for a brand-new development in Sunset Harbour, developer Ronny Finvarb is appearing before the Miami Beach Design Review Board once more.
The board will decide on the plans for the developer’s mixed-use development at 1790 Alton Road in the Sunset Harbour area during its meeting this week. Finvarb had previously attempted to develop a hotel on the site, but the city commission last year unanimously approved a zoning overlay area that prohibited the development of new hotels. Instead, it promoted the creation of fresh office ventures or residential towers.
The new overlay district permits some residential units in office construction projects and raises the height limit for office buildings in the region bounded by 20th Street, Alton Road, Dade Boulevard, and Purdy Avenue from 50 feet to 65 feet. The district not only forbids the construction of new hotels, but it also necessitates a conditional use permit for all structures larger than 25,000 square feet.
The designs show a five-story structure with 12 residential units, a rooftop deck with a private pool and bar, and restaurant space on the first and second levels. Sobe 18 LLC is a subsidiary of the Bay Harbor Islands-based Finvarb Group.
Finvarb’s proposal to erect a 36-key hotel on the 0.2-acre land on Alton Road, which he paid $4 million for in April of last year, was opposed by several Sunset Harbour locals.
For their mixed-use project at 1685 Washington Avenue in Miami Beach, which will be anchored by the Thompson Hotel, Finvarb Group and Chahine Investment Group were able to raise $44.6 million in financing in May 2022.
The Landon Bay Harbor-Miami Beach, a 46-key hotel in the Bay Harbor Islands, was purchased by Finvarb Group last year for $10 million.
The Residence Inn by Marriott South Beach, the Courtyard by Marriott South Beach, and the Kimpton Hotel Palomar South Beach, all located close by at 1750 Alton Road, are also included in Finvarb’s portfolio of properties in Miami Beach.
Invite Only New Construction Luxury 50 Unit Condominium to Break Ground on Fisher Island Miami
The Related Group is making waves in South Florida with their newest condominium project on the exclusive Fisher Island. The invitation only condo tower would include 50 luxury residences with a select number of penthouses.
The wealthy have long made Fisher Island, which is located at the confluence of Biscayne Bay and the Atlantic Ocean and is a seven-minute ferry trip from Miami Beach.
Oprah, Julia Roberts, and Mel Brooks are all known to have lived on Fisher Island in the past. The enclave has also received some accolades: Bloomberg found in April 2018 that Fisher Island, with an average income of $2.5 million in 2015, was America’s wealthiest ZIP code.
According to Jon Paul Perez, Related’s President stated, “We are currently working with our sales teams to develop our list of VIPs. People can live their entire lives on the island and, as such, develop close relationships with neighbors and fellow residents. That’s the feeling we want to create at our job. We want our buyers to get to know one another, and forge close friendships that elevate this beyond just another one of their homes.”
The proposed condo site, which is the last developable parcel on the 216-acre island, was just purchased for $122.6 million by Related Group, billionaire tycoon Teddy Sagi, BH Group, and Wanxiang America RE Group.
When the unnamed property is finished, units will cost about $30 million, while penthouses will cost more than $60 million.
Project Details:
3 to 5 bedroom residences
Membership to Fisher Island Club
Golf course
Tennis facilities
Marinas
The project’s architect is listed as Kobi Karl with interiors by Tara Bernerd and Partners.
Sales are expected to begin at the end of 2022 with construction anticipated in quarter 4 of 2023.
Empira Group Purchases Building Site for an 85 Unit Residential Project-CoralGrove Brickell
Empira Group, a Swiss company, has recently invested $9 million in a multifamily building site in Miami’s The Roads neighborhood as part of its introduction into South Florida’s real estate market.
According to a news release from the developer, Empira plans to erect the eight-story CoralGrove Brickell project on a half-acre plot of land adjacent to Coral Way, between 3025 and 3051 Southwest Third Avenue.
The property currently consists of a two-story and a one-story apartment structure, both of which are vacant and scheduled for demolition this year.
CoralGrove will contain 85 units, ranging from one-bedroom to three-bedroom homes, and 900 square feet of ground-floor retail space.
According to Rafael Aregger, Empira’s head of investments in the U.S., the previously approved 79-unit proposal for the site is being modified by Empira to add more units and relocate a pool that was originally planned for a mezzanine level to the rooftop.
According to Aregger, Empira, which has its headquarters in the town of Zug, manages investments on behalf of German organizations like pension funds, insurance companies, and banks. Empira, led by CEO Marcus Bartenstein, manages $7 billion in assets.
The company entered the United States two years ago, but its primary area of interest is real estate in German-speaking regions of Europe. Together with its joint venture partner Zidan Management Group, it has since built up a 2,100-unit apartment portfolio in the Midwest. The company’s American headquarters are in Empira’s Miami location. Additionally, it maintains offices in Stockholm, Dubai, and London.
According to Empira, the business is considering future development in Sun Belt states including Arizona, Texas, and Florida.
Construction on CoralGrove Brickell is anticipated to begin in 2023 with a completion date in 2025.
Related Group Requesting Permission to Develop Mixed Use Project on Miami River
The Related Group’s affordable housing division, Related Urban Development Group, is requesting permission to develop a mixed-income housing development on Miami-Dade County property close to the Miami River.
The ground lease and development agreement with the Miami-based developer for the 1.05-acre site at 395 N.W. 1st St. and 25 N.W. River Drive will be up for consideration by the County Commission on September 1. There is a two-story county office building there right now.
The site is close to Interstate 95 to the west, Flagler Street Bridge to the north, and Lummus Park to the south.
In January 2021, the county released a request for proposals (RFP) to find a developer for the land, and Related Group was selected as the successful bidder.
The developer would lease the land from the county under the proposal for 75 years in exchange for a $1.54 million down payment and annual fee equal to 16.5% of the project’s revenue flow. Over the course of the lease’s 75-year term, the county calculated that the payments would total $238.8 million.
The Gallery at Lummus Parc was a project that Related Group predicted would cost $151.7 million to complete.
It would include 439 apartments in two 30-story towers, as well as 5,400 square feet of retail space, a 478-place parking garage, and a cultural installation showcasing Lummus Park’s heritage. An overpass over Northwest First Street would connect the towers.
On the eleventh floor, there would be an amenities deck with a pool, a club room, a workout facility, Zoom rooms, a game room, and a lounge.
Some of the apartments would have cheaper rents and be income-restricted. According to the agreement, 20% of the flats would be reserved for residents earning up to 50% of the area median income and another 20% for residents earning up to 140%. There would be no constraints on income for the remaining flats.
Miami’s average household income is $44,268. The Gallery at Lummus Parc is anticipated to fill some of that demand as local workers have found it more and more difficult to afford residences in the city due to recent double-digit rent increases.
The sizes of the flats would be between 495 and 1,220 square feet. There would be 28 three-bedroom homes, 99 studios, 177 one-bedroom units, and 135 two-bedroom units.
The Related Group representatives declined to comment. According to the proposal, a federal opportunity zone investment fund, Charlotte, North Carolina-based Grandbridge Real Estate Capital, and low-income tax credit equity from JPMorgan Chase and Raymond James would all contribute to the project’s partial funding.
The concept was created by Miami-based CFE Architects. The developer is represented in the application by Miami attorneys Terry M. Lovell and Al Dotson Jr.
Highest Penthouse at Paramount Miami Worldcenter is Now For Sale at $10.71 Million
At the current price of $10.71 million, the tallest penthouse in RPC’s Paramount Miami Worldcenter is now for sale.
With sweeping views of Miami from the 57th and 58th floors of the tower, Penthouse 5700 has 5,225 square feet spanning throughout four bedrooms, five and a half bathrooms, and a den that can be utilized as either a home office or a library in the unit. An open-style chef’s kitchen, floor-to-ceiling windows, double-height ceilings, and plenty of space for entertaining are included in the amenities of the property.
Penthouse 5700 will have access to the building’s 46 amenity spaces, which are the most residential amenities in the world and include the nation’s first outdoor soccer field in a high-rise residential building, resort-style swimming pools, tennis courts, a Tai Chi deck, and a boxing studio.
The purchaser will be residing among celebrities thanks to Paramount’s comprehensive array of sporting amenities, which has drawn a wide range of professional athletes.
Located in Miami Worldcenter, an entire city within a city and the second largest master-planned urban project in the country, Paramount offers walkable access to the best restaurants, cultural and entertainment venues in town.
The 58-story Paramount Miami Worldcenter, which was completed in August 2019, has 569 condo homes with studio, one, two, and three-bedroom floor layouts, as well as penthouses.
The Paramount Miami Worldcenter’s ordinary tower residences have interior square footage of 1,294 to 2,376 plus balconies, whilst its penthouse residences have interior square footage of 3,509 to 6,000 plus balconies.
The typical condo homes at Paramount Miami Worldcenter have either 11-foot- or 14-foot-deep terraces, private elevators, and 10-foot high ceilings with floor-to-ceiling glass windows.
Eight magnificent bi-level penthouses at Paramount Miami Worldcenter include 20-foot high ceilings, floor to ceiling glass windows, and panoramic views of the city and lagoon.
Elkus Manfredi Architects created Paramount Miami Worldcenter, which was created by Paramount Ventures. ID & Design International created the lobby and common areas.
Cipriani Residences Miami Reveals New Interior Renderings
With the newest condominium project in Miami, Cipriani Residences Miami is adding to its illustrious portfolio once more with its exclusive first glimpse at the exquisite interiors of the highly anticipated development.
The renowned hospitality organization chose the internationally renowned studio 1508 London to design the interiors of Cipriani Residences Miami, which is the group’s first residential skyscraper built from the ground up. 397 homes with one to four bedrooms will be available in the building, all of which have views of Coconut Grove, Brickell, and Biscayne Bay.
The Cipriani Residences Miami exudes a stylish, contemporary ambiance, similar to the burgeoning Brickell district, but with a European flair. Consider furniture covered in Italian leather, chandeliers from Venice, and rooms with beautiful walnut finishes. The enormous curved glass high-rise by Arquitectonica blends seamlessly with the city’s financial district’s skyline.
The double-height foyer, which modernizes Venetian design, is one of the building’s most alluring aspects. The elegant area is layered with Italian terrazzo floors, oak accents, and an actual Murano glass chandelier. It was designed to transition from day to night. The color scheme combines distinctive Cipriani tones with warm camel and blue tones.
Each house, which ranges in size from 1,213 square feet to 3,495 square feet, includes floor-to-ceiling glass windows, large terraces, and lofty 10-foot ceilings as standard features. Among the opulent features you’ll discover inside are open eat-in chef kitchens, integrated Wolf Sub-Zero appliances, and light pendants with Art Deco influences, as well as Dornbracht fixtures in the main bathroom and, of course, handcrafted Italian cabinetry designed to reflect the Cipriani aesthetic.
CEO and Founder of Mast Capital stated, “The interior design of Cipriani Residences Miami demonstrates a fundamental richness that recalls the timeless elegance of four generations of the Cipriani family. 1508 London has envisioned an offering that captures both the inherent spirit of Cipriani and the sophisticated lifestyle of Miami.”
The developer is expecting a sellout of approximately $1 billion. The groundbreaking is anticipated for the end of 2022 with a top-off date in 2025 with a completion date in 2026. Reservations are expected to be converted to contracts next month which will coincide with the launch of their sales center.
If you or someone you know have an interest in purchasing at Cipriani Residences Miami, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Plans for a 30 Story Tower in North Miami Beach are Announced by BH Group
After purchasing land in North Miami Beach, developer BH Group is planning a 30-story residential structure located at 2261 N.E. 164th Street.
The 1.96-acre site was sold by CK Prive Group 164 LLC, controlled by Bruno Bloch in North Miami Beach, to the BH Group in Aventura for $11 million. The property increased in value since it was last sold for $8.3 million in 2016.
Currently on the property is a 1969-built warehouse of 35,538 square feet. The warehouse will be destroyed, according to BH Group, and a skyscraper with 400 luxurious residential units will be built in its place.
CFE Architects of Miami Lakes will be the architect for the project.
After the city rezoned a significant portion of its east side to allow for higher density and mixed-use development, North Miami Beach has been experiencing an increase in commercial and residential developments.
BH Group has been purchasing sites all over South Florida. The business frequently collaborates with Miami-based Related Group including District 225 condo in downtown Miami, a condo on Fisher Island, a waterfront condo in North Miami, the Transit Village mixed-use project in West Palm Beach, and condos on Bay Harbor Islands.
Melo Group Tops Off Construction of URBAN 22
Seven months after breaking ground, the Edgewater twin-tower apartment building known as URBAN 22 has officially topped off on construction. The developer for the project, the Melo Group is a well-known development group in the Miami area. After completing 6,000+ residential units in Miami over the years, they currently have 2,000 units under construction.
Multiple parcels making up the 1.94 acre site stretch’s from Second Avenue, 22nd Street, to 23rd street. The Melo Group started purchasing these sites in 2011 that is now making up the site for URBAN 22.
The project call for twin 15-story towers that will total 708,119 square feet with an 8-story podium connecting between the two. The towers will feature 441 residential units, 7,168 sq. ft. of retail, 5,692 sq. ft. of office space, and 529 parking spaces.
The units will range from 725 to 1,200 square feet of living space with each unit featuring a private balcony with glass surround railings. There are 4 studios, 243 one bedroom, 152 two bedroom, and 42 three bedroom units available.
The garage will feature a pool deck on the roof, indoor/outdoor spa, garden terraces, and a fitness center with a social room for gatherings. The Melo Group stated that project would enhance the pedestrian experience through the bridge between the two buildings as well as the retail and commercial aspects.
Developers File Coastline Review for a 30 Story Mixed Use Tower
In North Bay Village at 1755 Kennedy Causeway, B Developments under the LGE NBV, LLC submitted a request to Miami-Dade County for a coastline review. Arquitectonica was hired by the developer to create a mixed-use structure that would be 345 feet tall, 30 floors tall, and directly face Biscayne Bay.
Due to the property’s frontage on Biscayne Bay and its compliance with Article III, Section 33D of the Miami-Dade County Code of Ordinances, the application is necessary. The coastline setback and side setback are subject to variance requests from the developer. A structure with 30 floors must be 75 feet away from the main shoreline and 25 feet away from the side shorelines, according to the County Code’s setback requirements.
The property can’t be developed strictly in accordance with the criteria due to the tower’s height, the property’s size, and the lot’s proportions. To build in compliance with the site plans, the setback from the beach would have to be decreased to 25 feet, resulting in a 50-foot variance.
The developer is offering to construct a public bay walk behind the property along Biscayne Bay as leverage to get the variances allowed for the project because the County standards cannot be met. On the plus side, the proposal complies with the 2020 Island Walk Design Criteria as well as the North Bay Village Unified Land Development Code.
According to floor designs submitted in February 2022 to the North Bay Village Planning & Zoning Board, the distinctive two-story waterfront restaurant would occupy 19,455 square feet of area between the ground floor and mezzanine level. From the mezzanine level to floors 2 through 5, 8 and 9, the majority of the west podium would be occupied by offices. There are five storeys of parking on the podium’s remaining surface.
On the 6th and 7th floors are the residential amenity levels, which have a landscape deck with three pools, barbecue spaces, fire pits, kids’ splash pads, party lounges, residential lounges, game rooms, sky lobbys, and fitness centers. On the south and west sides of the sixth level, there will be a separate amenity deck that the office tenants can use.
BuildingPlans Description
473,252 square feet project
201 residential units
32,654 square feet of amenities
19,455 square feet for a 2-story restaurant with a waterfront terrace
1,860 square feet of office space
408 parking space in a parking structure podium
The landscape architect is listed as Arquitectonica and the civil engineer as Kimbley-Horn.
Residential units would start on the 10th level and range in size from 670 to 2255 square feet, including 104 one-bedroom, 83 two-bedroom, 8 three-bedroom, and 6 four-bedroom units.
