Electra America and BH Group are Partnering for a $1 Billion Renovation Project at Southland Mall in Cutler Bay
More than 4,000 units will be included in a $1 billion makeover plan for the Southland Mall in Cutler Bay, which was unveiled by Lake Park-based Electra America and Miami-based BH Group.
The 80-acre site will have mixed-use additions from Miami-based real estate company BH Group, its multifamily partner American Landmark in Tampa, and Electra. According to a press statement, they will contain a 150-key hotel, 60,000 square feet of medical office space, 150,000 square feet of retail out lots, and a public amphitheater.
The present mall building won’t be demolished, though, according to the developers. Instead, while the original mall is being rebuilt, the development would take place in the parking lot.
A new grand entry on U.S. 1, a pedestrian bridge to the brand-new BRT stop, trolley stops, and an amphitheater with a bandshell are all additional attractions.
The partnership purchased the indoor shopping center at 20505 South Dixie Highway in May for $100.3 million. Southplace City Center is the name of the new endeavor.
According to a press statement, Electra America, headed by managing partner Joe Lubeck, and its partners want to start construction on the first residential building in 2023, with a completion date of early 2025. Starting rent will be $2,500 per month.
MSA Architects is developing the master plan for Southplace City Center.
In the first five years, according to the project’s creator, 2,700 employment would be generated.
The redevelopment site is located in an Opportunity Zone, a region that has been set aside by the government with the goal of promoting growth and job creation in low-income areas. As a result, the partnership might draw in investors looking for tax advantages from project investment.
Sales Officially Launch for 21-Story Tower Shoma Bay Condos in North Bay Village
At a North Bay Village property it purchased earlier this year, Shoma Group is changing its plans from apartments to residential condos.
Shoma Group, led by Chairman Masoud Shojaee and President Stephanie Shojaee, is beginning sales of the Shoma Bay condos, with prices beginning in the $400,000s. ISG World, led by Craig Studnicky, was chosen by the Coral Gables-based developer to handle the units’ sales and marketing.
Shoma Bay will be a mixed-use development with 21 stories and 327 residences on a 2.8-acre plot of land.
In May, Shoma paid nearly $16 million for the property at 1850 79th Street Causeway with plans for a Publix-anchored residential and retail complex. The project, which includes a 36,000-square-foot Publix and around 6,300 square feet of retail space, including a rooftop lounge and a food hall called Shoma Bazaar, was approved by North Bay Village in March.
Condos are replacing rentals as South Florida’s rent growth finally starts to slow down. Similar adjustments have been made by other developers. A new rental skyscraper in downtown Miami was converted to a condo tower in July by Property Markets Group and Greybrook, and is currently known as The Elser Hotel & Residences.
The Shoma Bay will have apartments ranging in size from 360 square foot studios to roughly 1,500 square foot three bedroom condos. According to a spokeswoman, the average cost per square foot for all units is around $900.
Building completion could happen in the latter half of 2024, with construction set to start early next year. The interiors are being designed by Adriana Hoyos, with MSA Architects serving as the project architect.
There will include a lounge, bar, spa, gym, pool deck, library, and kids’ club among the amenities. A 2,600-square-foot co-working area and electric vehicle charging stations will also be included in the structure.
If you or someone you know have an interest in purchasing at Shoma Bay Condos, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
In July 2022, the developers, Mast Capital received approval from the FAA for the height allowance for the towers. On September 9, the contractor Moss Construction applied for a foundation work permit.
A second permit was filed on September 12th for the other 2 towers for foundation work. The county also issued a dewatering approval that is needed for the foundation work as well. Dewatering would include the removal of groundwater as well as from surface area.
Cipriani Residences Miami will feature 3 luxury towers spanning over 2.8 acres, located at 1420 South Miami Avenue in Miami’s renowned Brickell area, which will represent the famous brand’s elegant design and exceptional service.
The largest Cipriani tower will rise 80-stories and will feature 397 one to four-bedroom units with views of Biscayne Bay, Brickell skyline, and Simpson Park. The 2 smaller towers haven’t been revealed yet but will rise 59 stories and 50 stories tall.
Mast Capital paid $103 million, marking this transaction as one of the largest in Miami-Dade in 2021.
Cipriani is currently working with Mast Capital and Arquitectonica to bring this luxury building to life. Not only will the tower feature luxury amenities, but each residence will offer custom finishes and gorgeous designs.
Residence Features
• Generous living areas with ceiling heights of 10 feet • Floor-to-ceiling sliding glass doors and windows with magnificent panoramic views • Terrace access from the living room and primary bedroom of every residence • Gracious walk-in wardrobes in every primary bedroom • An exquisite selection of flooring options included • Direct elevator entry for select residences • Eat-in, open kitchen with custom Italian cabinetry inspired by Cipriani’s renowned style • Top-of-the-line appliances from Wolf Sub-Zero, including cooktop, integrated refrigerator, freezer, wine cooler, and dishwasher • Primary bathrooms with grand, stand-alone bathtubs and glass-enclosed showers; vanities with premium Italian cabinetry, imported stone tops, back-lit mirrors; separate room with water closet • Spacious laundry rooms with full-size washing machine and dryer, with a utility sink in most residences • Individually controlled, high-efficiency central air conditioning and heating systems, with linear diffusers in main areas to ensure seamless integration • Innovative smart technology infrastructure that enables home automation • Intelligent interface system for essential building services such as concierge, valet, and security
Cipriani has disclosed that the residential tower would have sophisticated, resort-style amenities for its inhabitants, as well as traditional design features popular at Cipriani restaurants worldwide.
Tower Amenities
• Exclusive private entrance with lush landscaping and elegant porte-cochère • Dramatic lobby leading to two banks of high-speed, touchless elevators • Signature private dining experiences by Cipriani • In-home dining and 24-hour catering services by Cipriani, exclusive to residents • Private dining rooms available for reservation, catered by Cipriani • Elevated resort deck with two swimming pools, a blissful outdoor spa, poolside cabanas, and a beautifully landscaped sun terrace • Poolside food and beverage services catered by Cipriani • Holistic spa with sauna and treatment rooms • Luxurious residents’ lounge for special events and intimate gatherings • State-of-the-art fitness center • Golf simulator • Pickleball court • Private salon available to be reserved for personal beauty services • Screening room with cutting-edge audiovisual equipment • Serene and spacious residents’ library • Engaging children’s playroom • Elevated four-level wellness center and lounge overlooking the Brickell skyline • Pet-friendly community with dog park • High-speed internet access across all public areas • Electric vehicle charging stations available • Air-conditioned storage rooms
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.
Eco-Friendly Mixed-Use Building Proposed in Coral Gables
Along the well-known Miracle Mile district of Coral Gables, Terranova Corp. intends to construct what might be the first mixed-use carbon-neutral structure in South Florida.
The office and retail building will generate all of the energy required to run it on-site, according to the Miami Beach-based developer. Using photovoltaic glass to capture solar energy, battery systems to store it, and energy-efficient AC and elevator systems might be done.
The total square footage of the four-story structure at 93 Miracle Mile would be 36,482. The building would feature 26,167 square feet of area for shops and restaurants and the rest for offices. A rooftop terrace would also be present.
According to Chairman of Terranova, Stephen Bittel, “93 Miracle Mile will be a revolutionary project, not only as a platform to champion Coral Gable’s dignitaries as forward-thinking leaders in sustainable development but also a blueprint for other developers and city planners as we face a climate crisis around the world. The modern proposed structure respects the scale of Miracle Mile, and uses traditional stone materials on the exterior, while also incorporating the best environmental options for the future.”
The developer paid $6.8 million for the 10,164-square-foot site in 2021 through an associate. The 9,097 square foot retail facility that it currently has would be torn down.
The project’s design was created by Miami-based Arqutiectonica and is awaiting local permission. Onyx Solar, based in Spain, was chosen to supply the solar glass. The solar glass will help with insulating the building as well as generating solar energy. The rooftop design will create a trellis that helps support the suspended orchid garden.
New Luxury Bayfront Development Revealed in Edgewater-Vida Residences
A new condo development has recently been revealed for Edgewater, Vida Residences. Vida Residences will encompass a Euro design that embodies luxury through every detail including its interior with beige tones, floating chandeliers, and all the amenities a luxury condominium has to offer.
Rising 9 stories tall, Vida Residences Edgewater will feature 121 fully finished and furnished units. One of the more enticing features includes the allowance of short-term rentals. There will no rental restrictions and residents will be allowed to rent on a short-term basis through hosting platforms such as AirBnb and VRBO.
The building will feature over 22,000 square feet of amenities.
Building Amenities:
Expansive rooftop tranquility pool with jacuzzi
Cabanas
Grilling stations
Private rooftop restaurant/bar
Breathtaking vistas of Biscayne Bay
State-of-the-art fitness center Convenient juice and coffee bar
HiTech co-working center 24/7 security services
Controlled property access with 24/7 concierge services
The developer for this project is listed as Urbana with Kobi Karl as the architect and interiors by Euro Design Group. The Groundbreaking is scheduled for the spring of 2023 and completion in 2024. Units start at $300,000.
Lululemon Buildout Begins at Miami Worldcenter
Construction on Block F West and World Square to the Right
The $4 billion and 300,000+ square foot multiple use development also known as Miami Worldcenter is ramping up construction. Miami Worldcenter is a vibrant location where you will soon be able to enjoy some of Miami’s finest foods, shopping, and entertainment! This new urban area is will be home to both national and local favorites as well as prestigious international companies.
One of the long-awaited retail locations is the glass cube known as Block F West, which is set to begin construction soon along with the World Square building. It is situated immediately west of Block F East also known as the “Jewelry Box”, which is now under construction and nearly completed.
Along with Sephora, Lucid Motors, and Bowlero, Lululemon is also expanding its retail chain to World Square with their space currently under construction.
These companies join other tenants that have already been revealed, such as Maple & Ash and Etta from Chicago which will both take up 2 stories of retail Space. According to Nitin Motwani, general partner of Miami Worldcenter Associates, these together with the most recent tenants have leased a total of around 90,000 square feet of retail space in the last 90 days.
According to Motwani, “On the heels of announcing an award-winning lineup of restaurant concepts slated to open at Miami Worldcenter, we are upping the ante with a trio of nationally and globally recognized lifestyle brands. These tenants exemplify the diversity we are offering throughout our residential, hospitality, and office developments across Miami, and bringing to life the retail components of Miami Worldcenter’s master plan is critical to transforming our 27-acre site into a thriving open-air destination.”
Lucid Motors is creating a multi-use building that will occupy almost 23,000 square feet. Bowlero will take up more than 31,000 square feet in the glass-enclosed “jewelry box” retail structure at Miami Worldcenter that looks out over the World Square plaza.
With the building permit issued in March 2022 for remodeling, Lululemon will occupy more than 6,000 square feet at the World Square plaza along Block H. The construction cost for Lululemon is an estimated $132,000 which will include remodeling and repairs.
Two Roads Development Launch Sales on 3 Tower Project- Edition Residences
Two Roads Development has just announced the launch of a 3 tower development designed around the Edition branding, Edition ResidencesEdgewater, with sales launching for tower 1.
With Marriott’s global reach, operational know-how, and size, this brand offers the personalized, intimate, personalized, and distinctive accommodation experience for which Ian Schrager (owner and operator) is renowned.
The Edition brand not only includes excellent design and genuine innovation, but also individualized modern service, and exceptional, one-of-a-kind food, beverage, and entertainment options.
Previously called Biscayne 21, the Edition project located at 2121 N. Bayshore Drive feature 185 condo units with pricing starting at $1.7 million. With 2 of the towers still being planned, it is unknown whether they will also have the ‘Edition’ branding.
Twos Roads Development is also responsible for Biscayne Beach and Elysee towers. Arquitectonica is listed as the architect.
In May 2022, Two Roads paid $150 million for the site which included Biscayne 21, a 191-unit tower currently on the site.
If you or someone you know have an interest in purchasing at Edition Residences Edgewater, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Groundbreaking Officially Scheduled for The Standard Residences in Midtown Miami
Carlos Rosso, the company’s creator and the owner of Rosso Development, said that the groundbreaking is scheduled for the end of this year.
According to Rosso, condos at The Standard continue to sell at a fast pace. The project has already reached 70% sold as of May 2022.
Situated between the Design District and Wynwood, the Standard Residences will rise to 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 the 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 October 2022. Construction on the actual tower has already started and the expected completion date is in 2024.
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.
