Miami Developer Plans to Rebuild The Wharf in a $185 Million Project
On the site of the iconic downtown Miami’s The Wharf along the Miami River, a Miami developer is teaming up with Driftwood Capital to build a $185 million Dream Hotel and entertainment complex.
The Riverside Wharf project will consist of two 10-story buildings, one of which will house the 165-room Dream Miami hotel. According to a press release, it will also contain a restaurant, nightclub, and entertainment establishments, including an expanded and updated version of the Wharf. Some additional amenities will be built including a deep-water yacht port, and a public riverwalk.
A 16,000-square-foot restaurant, a 12,000-square-foot event hall, a 30,000-square-foot nightclub/rooftop dayclub, and 600 feet of river frontage are all planned for the 200,000-square-foot project.
Garcia’s Fish Market may also set up shop on the property as a pop-up market. Its commercial fishing activity used to be located on the property.
In 2016, voters in Miami approved a deal that awarded MV Real Estate Holdings, led by Alex Mantecon and Guillermo Vadell, a long-term lease on half of the land. The other half is also owned by MV Real Estate Holdings and is located in an Opportunity Zone.
The 1.5-acre Miami River property at 114 Southwest North River Drive was developed by MV Real Estate Holdings and its partner, Coral Gables-based Driftwood Capital. Nitin Motwani, the managing partner of Merrimac Ventures and the developer of the Miami Worldcenter, is also a general partner in the project, according to Mantecon.
According to Mantecon of MV Real Estate Holdings, the developers plan to seek project permissions from the Miami River Commission in January and then go before the Miami City Commission. Cube3 architects’ John Cardello is designing it, with landscaping by Savino-Miller Design Studio.
Once approved, construction is planned to begin in 2022 with a completion date in 2025.
Melo Group Purchases Entire City Block in Edgewater to Build a Four Tower Development
Melo Group has recently purchased an entire 3.04-acre city block for $105 million in Miami’s Edgewater neighborhood with the intention of establishing a huge development.
The entire block extends from Biscayne Boulevard to Northwest Second Avenue between Northeast 17th Street and Northeast 17th Terrace with the primary address as 1700 Biscayne Blvd.
The sellers of the land are Biscayne Arts LLC, Biscayne Arts Plaza LLC, Brickell North Investments, and Miami Proarts II but the press release stated that the land is managed by James Goldstein in Fort Lauderdale. They have owned the property for decades and the current block features 2 office buildings, parking lots, and a Burger King.
The Melo Group plans to develop four 60 story towers with condos, apartments, and retail space with the condo units totaling 1,520 residential units. The property was purchased for $105 million at $69,000 per buildable unit.
According to a representative of the Melo Group, “the Biscayne Place sale marks the highest price per square foot for any non-waterfront property in Miami’s Arts & Entertainment District and the second-highest in Edgewater.”
The Melo Group has built more than 6,000 condos in the city throughout the last 20 years with a majority of its projects located in Edgewater as well as the Arts & Entertainment District. If this property moves forward, this will be the largest development that the Melo Group has built in Miami.
Miami is Getting St. Regis Branded Twin Condominium Towers
The Related Group and Integra Investments are teaming together to transform the beachfront site of an affordable senior living housing facility in Miami into a pair of luxurious St. Regis-branded condo buildings. The towers are expected to rise 48 and 47 stories tall on 3.16 acres on 1809 Brickell Avenue.
The same architect who designed 220 Central Park South and 30 Park Place in New York will be the designer for this twin tower 354 unit development, Rober A.M Stern Architects. The interiors will be designed by the Rockwell Group, a New York-based design firm that is also responsible for NEMA and Treehouse Hotel.
Since 2014, Miami-based Integra has owned the existing bayfront building, formerly known as the Stanley Axelrod Towers. Integra paid $14 million for the 17-story tower currently located at the pre-construction site called the George Humphreys Tower built-in 1966.
According to documents from the Department of Housing and Urban Development withdrew the building from its affordable housing agreement in summer 2021. This implies that one of the remaining affordable housing complexes in Miami’s Brickell Financial District, one of the most expensive districts, will be demolished shortly.
According to a principal at Integra, Nelson Stabile, “Given the insatiable demand for top-tier residential product, we feel the market is ready for a bespoke building of this caliber — a masterpiece with an elevated lifestyle experience that only the iconic St. Regis brand can deliver.”
Units are expected to range from 1,300 to 7,000 square feet with prices starting at $2 million. Throughout the twin towers will span 55,000 square feet of amenities that will include a St. Regis Tea Room, an indoor lap pool, and a residents-only restaurant.
While the building will not include a hotel and short-term rentals will not be authorized, St. Regis Hotels & Resorts, located in New York, will provide services to future condo tenants.
Related and Integra expect a $2 billion sellout once the St. Regis Residences have been completed. The sales center is expected to launch in 2022 simultaneously with the sales. The ground breaking is expected to occur in 3rd quarter of 2022.
M Tower Redesign Renderings Revealed
Located at 56 SW 1st St and 65 SW 2nd Street, M Tower will rise 49 stories in Downtown Miami. Recently, the developers released renderings for a redesign of the tower. M-Tower will be developed by the Miami Parking Authority and a private developer in a partnership.
The old plans showcased the property reaching 53 stories, 440 condo units, and 818 parking spaces. The tower was proposed to encompass 622,783 square feet total with 25,732 square feet of office space and 1,089 square feet of retail. These previous designs were created by Zyscovich Architects.
The new designs showcase 624 condo units, ground floor retail, offices for Miami Parking Authority, and 717 parking spaces. The architect for the redesign is NBWW Architects located in Coral Gables.
In the previous design, the older garage on the property was to be refinished and incorporate some of the new design but the current plans show an entire demolition of the site with plans to rebuild.
The property that the proposed M Tower sits on sold earlier this year to an affiliate of the Lion Group NYC for $10 million.
If the new redesign is approved by all parties, then construction will begin in 2022.
Developers for Legacy Hotel & Residences Receives Third Largest Construction Loan Ever in Florida
Developer Dan Kodsi’s Royal Palm Companies recently received a $340 million construction loan for Legacy Hotel & Residences. New York-based real estate lending joint venture Silverstein Capital Partners, provided the loan for a condo-hotel construction tower that will be located in Downtown Miami at Miami Worldcenter.
According to a press release, the financing is the third-largest construction loan ever made in Florida, behind two others for projects in Miami-Dade. The other two loans were for the building of The Estates at Acqualina in Sunny Isles Beach ($558 million) and Five Park in Miami Beach ($345 million).
Legacy Hotel & Residences began selling in late 2019 and despite the pandemic, it is already entirely pre-sold, with $160 million in sales.
The luxury tower located at 942 Northeast First Avenue, will rise 50 stories at 668 feet tall making it the second tallest tower at Miami Worldcener. This mixed-use development will feature 312 residential units, 262 luxury hotel rooms, a business center, medical office, retail space, and rooftop atrium.
The residences will include studio to 2 bedroom floor plans with 368 to 964 square feet options. The units will be fully finished and furnished. One of the unique things about Legacy is that residents will be able to rent their units without any restrictions. This includes utilizing a short-term rental company, whether its the Legacy’s rental program, Airbnb, or VRBO.
Not only is this loan one of the largest construction loans in Florida but this is also Silverstein Capital Partner’s first South Florida loan. Larry Silverstein of Silverstein Properties is an affiliate of the financial group and also led the development of the World Trade Center after 9/11.
Kobi Karp Architects, Design Agency, and ID & Design International designed the structure.
The ground-breaking for Legacy Hotel & Residences occurred in August 2021 and is expected to reach top-off in 2024.
Plans for a 23 Story Tower Proposed in North Miami Beach
Miami-based Humberto Ramirez Developers are currently under contract on a North Miami Beach office building with plans to a 23-story condo-hotel.
Officially scheduled for December 13, North Miami’s City Planning & Zoning Board will be presented the proposal for the tower located at 2040 N.E. 163rd Street. The 1.09-acre site currently holds a 3 story 26,766 square foot office building with a medical practice and a consulting firm as the current tenants. The property is currently owned by North Miami Beach company, 2040 Investments.
Designed by Bermello Ajamil & Partners, the proposed tower would feature 334 condo units, 30 hotel rooms, and a 410-space parking garage (13 electric car spaces) totaling 272,660 square feet. According to the proposed plans, 144 one-bedroom units, 162 two-bedroom units, and 28 three-bedroom units.
The property would also feature 7,328 square feet of retail space. The parking garage would rise 7 stories tall and the hotel rooms would line the front of the garage.
Amenities for this tower would feature a pool deck above the parking garage, game room, and fitness center.
North Miami Beach has adopted revised zoning for its eastern portion in recent years in order to stimulate construction and increased density. The city hopes to attract additional people as well as business development to the region
Plans Submitted in Miami for S-Shaped Mixed Use Tower
In 2018, plans for a 60-story mixed-use project located at 1370 NE 2nd Avenue in Edgewater was proposed. The proposal was expected to bring 100,000 square feet of office space, 1,100 residential units made up of condos and rentals, and 1,100 parking spaces. The developer, Cresent Heights purchased the land in March 2017 for $64 million but the project came to a standstill.
Now, alternative plans for the site have been submitted that still would include a large mixed-use complex. The developer for this project will still be Cresent Heights and they will be combining the $64 million dollar property with land owned by the School Board of Miami-Dade.
The 1.13-acre development site will be designed by Rafael Viñoly Architects and the towers themselves will take the shape of an S. The project will include 1,441 residential units, 100,000 square feet of office space (dedicated offices for the School Board of Miami-Dade County), auditorium, 19,673 square feet of office space for Cresent Heights, 5 levels of amenities, and nine levels of parking. The towers will rise 43 stories reaching 649 feet tall.
Amenities:
bowling alley
indoor basketball court
indoor lap pool
indoor running track
management office on the ground floor
9 parking levels (3 public, 6 restricted)
The developer has chosen to have the proposal reviewed by Miami-Dade County under the Metromover Subzone Zoning Standards. The move permits them to avoid the more stringent planning, zoning, and design approval required by the City of Miami.
Chillax: Diesel Wynwood to Include a Sensory Room for Residents to Disconnect
We are constantly seeing innovative and unique amenities in new developments in Miami. Those include helipads, a Dezervator (car elevator), and a “soccer field in the sky.” Now we can add a sensory room to the list thanks to the new pre-construction tower DieselWynwood.
Sensory rooms are environments designed to provide the user with an immersive sensory experience that includes varying lights, sounds, colors, sensory cues to calm, and other sensories that promote emotional and cognitive development. They are intended to assist users in engaging with their senses and reaping the advantages of sensory stimulation in a safe and calm atmosphere.
Sensory rooms have been in the news more recently especially in South Korea with the opening of a sensory cafe near Seoul Forest. According to Insider.com, South Koreans are so stressed that they are paying to visit this indoor sensory room so they can relax and do absolutely nothing for any amount of time they would like.
This cafe known as the Green Lab features floor-to-ceiling glass windows looking out at the lush vegetation of the Seoul Forest. In this room, customers must silence their phones and they cannot speak during the experience. According to a Green Lab employee, Bae Hyum, “It’s so hard to find spaces in Korean society where it’s acceptable to do absolutely nothing.”
As for the newest pre-construction tower in Miami, the Diesel Wynwood sensory rooms will feature restorative seating for relaxation, meditative visual features, and media installations. New information on these sensory rooms is being released every day and we are very excited to fo this newest amenity in a soon-to-be iconic tower in Miami.
Introducing the “Sky Collection” at Waldorf Astoria Residences Miami
Waldorf Astoria Hotel and Residences Miami will rise 1,049 feet tall making it Miami’s tallest and its first supertall skyscraper. The tower itself offers 100 floors of luxury residences and amenities expanding over 1.5 million square feet vertically.
With nine offset, stacked glass cubes rising over Miami, this tower will be like no other residential project in Miami or in the world. Sieger Suarez, responsible for the Burj Al Arab tower in Dubai, and Carlos Ott, responsible for Echo Brickell, have partnered on the design of this remarkable tower.
Waldorf Astoria Hotel and Residences Miami will feature 361 condo units and 205 hotel rooms. The condo residences will range from 1 to 4 bedrooms (located in cubes 4 through 7), not including the “Sky Collection” or the penthouses.
Until today, the developer of Waldorf Astoria Residences Miami had only released cubes 4 through 7. In a two-part VIP Broker event this afternoon, Cube 8, known as the “Sky Collection”, was unveiled.
The sky collection consists of four units per floor totaling 40 units altogether (floors 80-89), ranging from 2 to 4 bedroom floor plans. The 2 and 3 bedroom units will be west-facing while the 4 bedroom units will be east-facing. The residences will feature 2,465 to 2,575 total square feet including terraces. Sky residences will feature 12-foot ceilings and will have the same finishes as the penthouse residences. Sky collection pricing range from $5 to $9.2 million.
For buyers requiring more living space, Waldorf Astoria Residences Miami will have five, full-floor penthouses, all located in Cube 9 of the supertall tower. Each floor will total 13,155 square feet, including east and west terraces, and feature 14-foot-high ceilings with floor-to-ceiling glass windows. The west terraces will include a summer kitchen and plunge pool. Two of the five penthouses have already sold, and the remaining three are asking $40 million.
Tower Amenities:
Peacock Alley
True Waldorf Service and concierge
Unobstructed views of city and downtown skyline, Miami Beach and the Atlantic Ocean
Waldorf Astoria immersive resort-style pool with outdoor café and private cabanas
Private Bar/ Wine Tasting Room
Signature Restaurant
All-Day Dining Brasserie
Pre-function and function spaces
Meeting and boardrooms
Waldorf Astoria Kids Club
24-hour valet parking
Signature spa
A leading-edge fitness center with private training studios
Residential Amenities:
24-hour doormen and lobby desk attendants
Private porte cochère with 24-hour valet service and private residential entry
24-hour concierge services in addition to dedicated on-site professionals
Live-in resident manager and 24-hour security
Front-door package and service delivery via signature Concierge Closet
Owners Lounge with high ceilings
Billiard and entertainment room with panoramic bay views
Designed for private functions and equipped with adjacent catering kitchen
Private residential pool deck with whirlpools with lounging areas
Exclusive Waldorf Astoria Miami access and benefits, including preferred spa and restaurant rates and access to à la carte hotel services
Currently, Waldorf Astoria Residences Miami is 60 percent sold. At today’s VIP broker event, it was announced that full sellout (totaling $1 billion) is expected by March 2022. Groundbreaking is still planned for Q1 2022.
