More Development Secures $76.81 Million Loan for SoWy: A Vibrant, Sustainable Mixed-Use Project in Miami
An international real estate company based in Miami and Nassau, Bahamas, More Development, has secured a significant $76.81 million loan for their latest venture, SoWy. This upcoming mixed-use development is set to transform the Wynwood and Overtown areas, situated north of Downtown Miami. The loan was announced by More Development President Whitney Thier and was provided by JP Morgan Chase.
The SoWy project spans nearly eight acres and includes 26 parcels across six blocks along 2nd Avenue, between NW 20th and 22nd Street. The site offers nearly 2.5 million base buildable square feet, even before considering the provisions of the Live Local Act. Initial plans for SoWy feature flexible and adaptable multi-use indoor and outdoor spaces, all housed within site-specific architectural buildings.
A key aspect of the SoWy development is its integration of residential spaces within a dynamic, creative environment, all while focusing on sustainability. More Development, which maintains an office within the SoWy site, is dedicated to respecting the unique cultural and artistic vibe of Wynwood and Overtown, ensuring seamless integration with the neighborhoods’ atmosphere.
Whitney Thier emphasized this commitment, stating, “More Development values artistry, craftsmanship, and history, and we were drawn to the soul and rich history of the area. With financing in place, we are ready to realize the initial phase of our plans to invigorate the neighborhood with a new vibrant environment where people can live, work, shop, dine, and play in a pedestrian-friendly and art-forward setting. We are eager to be a part of the community and are fully committed to preserving and enhancing the area’s distinctive character and contributing positively to its ongoing evolution. SoWy will build upon Wynwood and Overtown’s unique culture that attracts a diverse mix of residents of all ages and backgrounds.”
Wynwood is renowned for its vibrant street art, trendy galleries, and eclectic mix of shops and eateries. The neighborhood has experienced significant growth in recent years, with visitor numbers rising from 240,000 in 2013 to 15 million annually in 2023, according to the Wynwood Business Improvement District.
Overtown, on the other hand, is recognized for its historical significance and vibrant African-American heritage. Once known as the “Harlem of the South,” Overtown has been a cultural hub for music, arts, and community gatherings. The neighborhood is home to historic landmarks such as the Lyric Theater and hosts numerous cultural events celebrating its legacy.
More Development has a remarkable track record, having developed over seven million square feet of mixed-use property worldwide. The company is well-known for projects such as Baha Mar, a large resort in The Bahamas that includes three luxury hotels, 30 restaurants, bars, lounges, an 18-hole Jack Nicklaus-designed golf course, 10 swimming pools, a world-class spa, and the largest casino in the Caribbean. More recently, they completed Arev St. Tropez, a bespoke luxury hotel in the French Riviera, and are currently developing Mahogany Hill, a collection of luxury condominium residences in Nassau, The Bahamas.
With the SoWy project, More Development is set to enhance the vibrant and culturally rich neighborhoods of Wynwood and Overtown. The project promises to create a new, dynamic environment that respects the unique character of these areas while offering modern, sustainable living spaces. As the development moves forward, it will undoubtedly contribute to the ongoing evolution and growth of Miami.
New Construction in Miami Beach-Ella Miami Beach
Following the announcement of 299 Minorca, an eight-story, mixed-use venture, the Constellation Group and Boschetti Group have unveiled their next ambitious project: Ella Miami Beach. This upcoming residential tower promises to bring a new level of luxury and modern living to Miami Beach.
Ella Miami Beach is set to be a 10-story residential tower featuring 95 condominiums. Ella Miami Beach will offer a variety of living spaces, ranging from studio to two-bedroom layout plans, with unit sizes spanning from 434 to 1,076 square feet.
Residents of Ella Miami Beach will enjoy a plethora of amenities designed to enhance their living experience. The homes will feature expansive outdoor terraces, plank-style flooring, and various high-end finishes that provide a touch of elegance and comfort.
Amenities:
A rooftop swimming pool
A pickleball court
A fitness center
Additional offerings to cater to a modern lifestyle
These features are sure to provide residents with ample opportunities for recreation and relaxation. Condo sales for Ella Miami Beach began in June 2023, and the development has already seen significant interest, with 36 percent of the units sold. Although construction has not yet started, the project’s website anticipates completion by the first quarter of 2026.
Ella Miami Beach is not just about residential living; it will also include 2,200 square feet of retail space, adding convenience and vibrancy to the area. The high-rise has been designed by the internationally renowned, Miami-based firm Arquitectonica, ensuring a striking and modern architectural presence.
The developers purchased the 25,000-square-foot parcel for Ella Miami Beach in February 2023 for $5.5 million. The site is located at 6940 Abbott Ave, Miami Beach, FL, 33141, in the vibrant Miami-Dade County.
Ella Miami Beach is set to become a landmark of luxury and modern living in Miami Beach. With its high-end amenities, stunning design, and prime location, it offers a promising new option for residents seeking the best in Miami Beach living. Stay tuned for more updates as this exciting project progresses towards its anticipated completion in early 2026.
Exploring the Future: Miami Beach’s Mixed-Use Project Proposal
Miami Beach, renowned for its vibrant culture and stunning beaches, is often a hub for innovative urban development. Recently, the city’s Planning Board has been abuzz with anticipation as they prepare to review a groundbreaking proposal: a five-story, mixed-use project set to transform a familiar landscape.
At the heart of this proposal lies a 30,000-square-foot site, currently serving as a parking lot for the adjacent CVS. However, if approved, this space will soon undergo a dramatic metamorphosis into a 60,000-square-foot marvel of modern architecture.
The project’s focal point will be the introduction of 38,805 square feet of office space, comprising a significant 64.7% of the total area. Complementing this commercial aspect will be 77 parking spots and 3,900 square feet dedicated to commercial use, promising a dynamic blend of work and leisure within the bustling cityscape.
The proposal also envisions a residential component, adding a touch of urban living to the mix. Eighteen townhomes, each spanning 1,980 square feet, will grace the landscape, accompanied by a charming 564-square-foot rooftop amenity deck. Positioned on the lower two floors, these residences will coexist harmoniously with the commercial spaces above, creating a vibrant community within the city’s fabric.
However, the project’s scope extends beyond mere construction – it seeks to honor the city’s rich history while embracing the future. 7410 LLC, the developer spearheading this endeavor, plans to breathe new life into the iconic CVS building, a relic from the 1950s. This revitalization effort will retain the building’s historical significance, preserving its original components for future generations to admire.
The CVS redevelopment is not just about aesthetics; it’s a testament to responsible urban planning. In addition to the 18 residences, the revamped building will offer 25 parking spots, over 8,300 square feet of retail space, and a rooftop pool, transforming it into a multifaceted destination for residents and visitors alike.
One of the most intriguing aspects of this proposal is its commitment to sustainability and preservation. By repurposing existing structures and incorporating green initiatives, the project aims to minimize its environmental footprint while maximizing its impact on the community.
Located at 7401 to 7425 Harding Ave in Miami Beach, FL, 33141, in Miami-Dade County, this ambitious venture represents a bold step towards the future of urban living. As the city’s Planning Board convenes to evaluate this proposal, all eyes are on Miami Beach, eager to witness the evolution of its iconic skyline.
Miami Beach’s mixed-use project proposal embodies the spirit of innovation and revitalization, promising to redefine urban living in the heart of this vibrant city. With its blend of commercial, residential, and historical elements, it stands as a testament to Miami Beach’s commitment to progress while honoring its rich heritage. As the project moves forward, it is poised to leave an indelible mark on the city’s landscape, shaping its future for generations to come.
Expanding Horizons: Morabito Properties’ Wyncatcher Development in Wynwood
In the vibrant heart of Miami’s Wynwood Arts District, a new chapter in urban transformation is unfolding. Morabito Properties, led by developer Valerio Morabito, has embarked on an ambitious expansion of their Wyncatcher development, adding another dimension to the dynamic landscape of this iconic neighborhood.
The recent acquisition of an adjacent warehouse at 2150 NW Miami Court marks a significant milestone for Morabito Properties. This strategic move amplifies the firm’s commitment to redefining urban spaces, breathing new life into forgotten structures. With the support of a $35 million loan from BridgeInvest, Morabito Properties is poised to reimagine Wynwood’s skyline, one building at a time.
Wyncatcher is not just a development; it’s a testament to the fusion of creativity and functionality. Designed to blend seamlessly with Wynwood’s artistic flair, Wyncatcher embodies the spirit of adaptive reuse, transforming once-abandoned spaces into thriving hubs of activity. The existing Wyncatcher I, a boutique mixed-use property, is a testament to this ethos, boasting a distinctive facade adorned with murals by acclaimed artist VHILS.
Now, with the addition of Wyncatcher II, Morabito Properties is poised to set new standards in commercial innovation. Collaborating with Vagabond Architecture, known for their expertise in retrofitting existing buildings, the new structure will redefine the concept of contemporary workspace. From dynamic event spaces to cutting-edge offices and vibrant retail outlets, Wyncatcher II will cater to the diverse needs of Wynwood’s burgeoning community.
At the heart of this development lies a commitment to fostering collaboration and growth. Knotel, a flexible workspace operator backed by Newmark, has already committed to leasing Wyncatcher I, signaling confidence in Wynwood’s future as a premier business destination. With its elegant design and prime location, Wyncatcher I promises to be a magnet for innovation and creativity, offering a home for forward-thinking companies seeking to thrive in Wynwood’s dynamic ecosystem.
Valerio Morabito, CEO of Morabito Properties, encapsulates the vision driving this ambitious project. “Wynwood has evolved into a cultural hub where people want to spend their days,” he remarks. “Wyncatcher will be the community for it all.” Indeed, as Wynwood continues to attract millions of visitors annually, the expansion of Wyncatcher heralds a new era of growth and opportunity for this vibrant neighborhood.
BridgeInvest, the financing partner behind this endeavor, shares Morabito Properties’ vision for Wynwood’s future. Managing Partner Alex Horn highlights the synergy between creative financing and innovative development, underscoring the transformative impact of projects like Wyncatcher on the fabric of Wynwood’s urban landscape.
From its humble beginnings as a warehouse district, Wynwood has blossomed into a global destination for art, fashion, and innovation. With leading tech companies and top-tier hospitality offerings, Wynwood is a testament to Miami’s dynamism and diversity. And as the neighborhood continues to evolve, projects like Wyncatcher serve as beacons of progress, reshaping the city’s skyline and redefining urban living for generations to come.
Sales Launch for Domus Brickell Park Miami
We are thrilled to announce the launch of sales for Domus Brickell Park, the latest milestone in luxury condominium development brought to you by North Development—a joint venture between Miami developer Ricardo Dunin’s Oak Capital and Peru’s Edifica. This exciting project marks the second condominium under the Domus brand and showcases the unique FLATS concept (Flexible Apartments for Temporary Stays), designed to revolutionize urban living.
Situated in the heart of Miami’s prestigious Brickell financial corridor, Domus Brickell Park will rise 35 stories high, featuring 579 meticulously designed units. This prime location at 1034 SW 2nd Avenue places residents at the epicenter of vibrant city life, surrounded by major banks, corporate headquarters, trendy restaurants, shopping centers, and recreational venues.
Domus Brickell Park promises an exceptional living experience with an array of world-class amenities:
The Cypress Room: A luxurious 4,000-square-foot gathering space featuring a café, wine bar, and artisanal market with gourmet fare.
High-Touch Services: 24-hour concierge, valet attendants, and a dedicated customer service line.
Wellness and Recreation: A seventh-floor gym with an outdoor terrace, rooftop yoga deck, rooftop bar, pool, sky deck, cabanas with day beds, hot tub, and a lush garden lounge.
Technology and Convenience: The Domus FLATS App for seamless check-ins, room and elevator access, and more.
The FLATS concept, coined by Ricardo Dunin, is garnering praise for its innovative approach to short-term rental-friendly offerings, rooted in high-end hospitality. Domus Management, a bespoke management company created by Dunin, ensures that each property adheres to top-tier brand standards, providing a comprehensive, customer-centric experience.
The design team for Domus Brickell Park includes Studio Mc+G Architecture, known for their work on the iconic Delano South Beach hotel, and Urban Robot Associates, specialists in urban design, interiors, and landscape architecture. The building is a wellness-focused ‘green’ structure featuring ultraviolet (UV) water purification, air filtration systems, and EV charging stations.
Residents of Domus Brickell Park will enjoy unparalleled access to transportation, with the Brickell Metromover station just one block away. This connection links to the Miami Metrorail and the Brightline high-speed train, making travel to Orlando a breeze. The building’s location also offers stunning high-floor views of the cityscape and Biscayne Bay, and proximity to Southside Park, multiple greenspaces, and The Underline—a 10-mile linear park with numerous amenities.
Starting from the low $500,000’s to $1.5 million, Domus Brickell Park offers studio, one-, and two-bedroom FLATS featuring nine-foot ceilings, private balconies, keyless entry smart lock systems, premium appliances, and in-unit washers and dryers. This competitively priced property is poised to be a standout in the Brickell market.
Domus Brickell Park is slated for completion at the end of 2027, promising to be a landmark of luxury and innovation in Miami.
Swire Properties Unveils $100 Million Duplex Penthouse at The Residences at Mandarin Oriental
The latest addition to Miami’s upscale real estate scene is Mandarin Oriental, which, in collaboration with Swire Properties, has launched sales for The Residences at Mandarin Oriental, Miami. This development features 228 luxury branded residences within an 800-foot tower on Brickell Key, just moments away from Miami’s bustling center.
These residences are just a part of the brand’s grand vision to transform this secluded island sanctuary into an unmatched residential and hospitality destination. The South Tower will house The Residences at Mandarin Oriental, Miami, while the North Tower is set to become the new North American flagship Mandarin Oriental hotel, connected by a beautifully landscaped podium.
Among the first properties available is the development’s $100 million duplex penthouse. The penthouse offers 23,000 square feet of living space, including 7,000 square feet of private outdoor space.
With 30-foot-high ceilings, interiors by designer Tristan Auer, and unparalleled views of the city skyline from nearly 800 feet above, this residence epitomizes elevated living. The property features multiple outdoor dining and entertainment areas and a sky cabana that can serve as an additional bedroom. The infinity pool, one of Miami’s highest, adds to the allure for those who love heights.
Luxury Residences for Sale
The South Tower offers a range of luxurious residences:
Two-bedrooms starting at $4.9 million
Three-bedrooms starting at $5.8 million
Four-bedrooms starting at $10.5 million
Five-bedrooms starting at $17.5 million
The North Tower: A New Flagship Hotel
The North Tower will house the new Mandarin Oriental hotel, featuring:
121 rooms
A signature Spa at Mandarin Oriental
Multiple intimate fine-dining and al fresco restaurants
This tower will also offer an additional 66 private residences and 28 hotel residences, with sales set to launch later this year.
The Future of Branded Residences in Miami
The branded residence trend continues to gain momentum in Miami, blending luxury living with prestigious brands. With properties like The Residences at Mandarin Oriental, Miami, the city is setting new standards for high-end urban living, offering residents unparalleled luxury and world-class amenities.
Wynwood Welcomes Major Retail Expansion with Prominent Developers
In a significant move for the Wynwood Art District’s commercial landscape, a trio of influential development firms—Lion Development Group led by Michael Simkins, LNDMRK Development led by Alex Karakhanian, and Tricera Capital led by Ben Mandell—has jointly acquired 32,000 square feet of prime ground-floor retail space at the Society Wynwood complex. The deal, valued at $22.5 million, marks a pivotal development in one of Miami’s most vibrant neighborhoods.
Prior to the closing, Tricera and LNDMRK had already signed four major leases, securing tenants for approximately 50% of the available space. This proactive leasing strategy brought in a diverse mix of businesses, including Starbucks, Nacho Daddy, Chama De Fogo Brazilian Steakhouse, and I Scream Gelato. These brands are not just filling space; they are set to enhance the local flavor and economic vitality of Wynwood.
The property, developed by Property Markets Group (PMG) and Greybrook, is situated at 2431 NW Second Ave., right in the heart of the Wynwood Art District. This location is pivotal, standing directly across from the iconic Wynwood Walls. “Wynwood’s growth over the last decade has been tremendous, and our team is excited to continue to play a role in elevating the community,” said Ben Mandell, CEO of Tricera Capital.
Alex Karakhanian of LNDMRK Development also shared his enthusiasm for the project: “We are excited to partner with Tricera and Lion on this transformative acquisition. The retail is situated in the core of the district, and continues to attract premium tenants that want to be part of this vibrant community.”
The retail portion of Society Wynwood, along with its nearly 300 modern residential units and private parking garage, positions the building as a premier destination within the district. This integration of living, leisure, and work space reflects the ongoing transformation of Wynwood into a dynamic urban neighborhood where culture and commerce meet.
With successful leasing already underway and more announcements expected soon, the new ownership is poised to continue its momentum. The addition of high-profile tenants like Starbucks, which will occupy approximately 2,600 square feet, and the unique dining experiences offered by Nacho Daddy, Chama De Fogo, and I Scream Gelato, Society Wynwood is set to become a key player in the area’s ongoing development.
Introducing Clear Residences in Downtown Miami
Toronto-based Blutrich Holdings, spearheaded by real estate mogul Gil Blutrich, is set to transform Downtown Miami’s skyline with their latest venture, Clear Residences. This ambitious project proposes a 60-story mixed-use building situated at 130 Southeast 1st Street, a prime location in the heart of the Central Business District.
Clear Residences is designed to be a nearly 690-foot-tall architectural marvel, encompassing approximately 666,432 square feet. The structure is planned by Kobi Karp Architecture & Interior Design, with landscape architecture by KEITH. The project aims to offer 549 residential units alongside 3,622 square feet of ground-floor commercial space. Furthermore, residents will enjoy nearly 40,000 square feet of amenities and a parking garage designed to hold 157 vehicles. The Miami Urban Development Review Board is expected to review the project proposal on May 15.
Currently, the site operates as a surface parking lot, covering about 23,750 square feet or 0.55 acres, bordered by SE 1st Street and SE 2nd Street, with SE 1st Avenue and SE 2nd Avenue flanking its sides.
The design of Clear Residences aims to blend seamlessly with the urban fabric of Downtown Miami while standing out with its modern architectural elements. The building is characterized by sleek, curved corners and a striking glass façade. A unique feature of the design is the building’s rooftop, which includes landscaped terraces that provide a stunning contrast to its linear structure, enhancing the visual appeal and reducing the massiveness of the tower.
The tower’s position within the city allows it to capture breathtaking views from Biscayne Bay towards the west, emphasizing its prominence in the city’s landscape. The architectural renderings reveal a structure that honors the area’s vibrancy while contributing to the skyline’s dynamic evolution.
Several detailed renderings showcase the building’s intricate fenestration and façade, which includes vertical columns wrapped in golden metal, wrap-around frameless glass guardrails, and floor-to-ceiling windows. The bronze aluminum cladding panels add a touch of elegance and modernity to the overall design.
Blutrich Holdings has requested several waivers to facilitate this project, including increased lot coverage and adjustments to building setbacks and frontage access. These requests are aligned with recent amendments to local zoning codes, aiming to accommodate the unique design and structural requirements of Clear Residences.
Clear Residences is poised to be a significant addition to Miami’s downtown area, offering luxury living combined with breathtaking designs and state-of-the-art amenities. As the review date approaches, all eyes will be on how this project will further shape the future of Miami’s urban landscape.
New Renderings Revealed for Mercedes Benz Places
Mercedes Benz Places tower just revealed new renderings of the stunning 67-story edifice that’s taking shape in the heart of Brickell. This reveal, strategically timed ahead of the Formula 1 Miami Grand Prix weekend, not only captured the essence of luxury and innovation but also marked a significant milestone in real estate developments.
From the outset, Mercedes Benz Places has been a beacon of architectural ambition and opulence. It’s no surprise that the tower has already set a sales record, with 100 units snapped up within the first four days of marketing. This brisk pace of sales underscores the high demand and prestige associated with owning a part of this iconic building.
The image reveal event was held at The Concours Club, providing an apt setting for unveiling a project that melds luxury with cutting-edge design. Attendees got their first look at the sophisticated aesthetic and architectural nuances of the tower. Notably, the building features giant Mercedes logos at the porte cochere and atop the rooftop pool, these design elements echo the luxury and excellence synonymous with the Mercedes brand.
The event was graced by notable figures including Toto Wolff, the CEO of Mercedes AMG Petronas F1 Team; Michael Stern, CEO of JDS Development; and Ryan Serhant, a renowned real estate mogul. Their presence highlighted the significant collaboration and vision that drives the Mercedes Benz Places project.
The Mercedes Benz Places tower in Brickell is more than just a high-rise; it’s a symbol of luxury living and architectural grandeur. As the tower rises, it promises to reshape the Miami skyline and offer an unmatched living experience. The enthusiastic reception of the new renderings is just a precursor to the transformative impact this tower will have on luxury real estate in Miami.
For those interested in a blend of luxury and performance, Mercedes Benz Places appears to be setting new standards on every front. As the construction progresses, all eyes will undoubtedly remain on this landmark project that’s poised to become one of the most coveted addresses in Miami.
