There has just been a huge new utility agreement recorded that will add roughly 1,400 new apartments to downtown Miami. The agreement will enable Namdar Towers to start construction. The Building Department of Miami is already processing permits for the project.
The contract was signed by Ephraim Namdar on behalf of the development companies 50 North Miami LLC and 222 North Miami LLC, both of which have addresses in North Great Neck, New York. A $1,301,083.65 connection cost is anticipated.
According to a press statement from August, the project has secured a $195 million acquisition and construction loan.
In October, the Namdar Towers project was submitted to the UDRB. Miami’s Building Department is currently reviewing permits for development and demolition.
A 41-story structure with 680 units and a 43-story building with 714 units would make up the proposed Namdar Towers, which would have combined square footage of more than 1.2 million.
This project is planned in 2 phases, the 41-story tower will be part of phase 1 while the 43-story tower will be part of phase 2.
Development Information:
1,394 units
Pools
Fitness center
Bowling rooms
Golf simulators
Co-working space
7,984 sq. ft. of commercial space
336 parking spaces in a five-level garage
1,395 bicycle racks
The architect is identified as Behar Font. Permitting for construction and demolition is already in progress.
According to its website, Namdar is a family-owned development company that was established in 1979. Ephraim Namdar, who has previously been named in media sources as the company’s founder and CEO, is in charge of running the LLC that bought the Miami property.
One River Point Receives FAA Height Approval
The Federal Aviation Administration has given its certification for the One River Point towers (now called Faena Residences Miami) along the Miami River. The FAA allowed the towers to rise to a height of 788 feet above ground, or 797 feet above sea level, in a letter that was sent out on January 16.
The same property received FAA approval in 2014 for a construction height of 928 feet above ground (that approval expired in September 2018). The FAA then gave the towers additional certification in 2019.
Developers Edgardo Defortuna of Fortune International Group and Shahab Karmely of KAR Properties announced their collaboration to construct the buildings in November 2022.
The original developing company sold the property to the new partnership for $58.85 million.
According to records, Bank OZK gave the developers a $38 million loan for the 1.8-acre site at 24 Southwest Fourth Street in Miami. According to Defortuna, the loan is a line of credit to be utilized for the 386-unit luxury condominium’s development, sales, and marketing. After the unit plans are completed, sales should begin this year.
The developers will make a few changes while maintaining Rafael Violy’s original concept. An 85-foot waterfall, a three-story glass skybridge that floats in midair, and an exclusive members-only Adrian Zecha “Sky Club” on the 55th level with two restaurants, a cigar lounge, a wine cellar, and a screening room were all originally planned.
If you or someone you know have an interest in purchasing at One River Point, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
New Development Proposed at Brickell Key
Swire Properties submitted a request to the Federal Aviation Administration in late December in order to bring the supertall development to Brickell Key, a posh residential island outside of Miami’s financial sector.
According to the designs, there will be two towers: one rising 700 feet and the other rising 1,049 feet, making it a supertall skyscraper. At the southernmost point of the enclave, at Brickell Key Park, both would be situated.
The vacant land at the southern end of Brickell Key, which the firm claimed was being kept for development or sale, is owned entirely by Swire Properties, according to the company’s 2021 annual report.
Although Swire’s precise plans for the property are yet unknown, the park is zoned for residential use. Additional to the development’s height, no other information regarding it is included in the application.
The 2.4-acre park was purchased by the Miami-based developer in 1997. There is currently no developer listed on the FAA filing.
Financing Obtained for 3 Tower Development Near Miami River
Truist Bank, based in North Carolina, has given the Related Group, a $164 million construction loan for the first of three skyscrapers planned for a premium 3.9-acre development site along Brickell Avenue, south of the Miami River.
The 47-story building, also known as One Brickell Tower II, is expected to rise at 77 Southeast 5th Street to a height of about 478 feet and contain 506 units. The entire mixed-use development, which includes the anticipated 75-story Baccarat Residences Miami and an 82-story hotel and residential tower, is designed by Arquitectonica. The tower’s general contractor is John Moriarty & Associates, and work is anticipated to start next month.
The most recent rendering for One Brickell Tower II shows the structure from a ground-view angle as seen from Brickell Avenue with Icon Brickell visible in the background. The sign that reads “The One” atop a planted wall signals that this is the first time we have seen branding for this stage of the project.
A double-height lobby with a covered entry and exposed concrete support columns can be found at the tower’s base. These columns rise into what could be described as an undulating wall of balconies.
The balconies are enclosed by continuous horizontal bars of glass, and the exterior walls are covered in smooth stucco that has a grayish appearance. The site, which will feature a drop-off facility along Brickell Avenue, is surrounded by extensive landscaping. The three towers will be connected by a multistory pedestal. That connecting podium will accommodate an outdoor amenity level on its roof and include parking spots.
Plumbing, excavation, and site work permits were given last year. Due to unpaid permit fees, vertical construction permits are still pending. In 2020, FAA building permits were issued.
Construction Update on The Standard Residences in Midtown Miami
Plans for the permit were originally filed on December 6 and were approved just eight days later. According to promotional brochures and prior news releases, the project’s official address is 3100 Northeast 1st Avenue, while the pending permit lists 90 Northeast 32nd Street as the location of the site.
The project, which was created by Rosso Development and Midtown Development and designed by Arquitectonica with interior design by Urban Robot Associates, includes 228 residential apartments, 34,000 square feet of amenities, and 11,000 square feet of ground-floor retail space.
While permitting flexible short-rental programs with 30-day minimum stays up to 12 times per year, homes will be delivered move-in ready. Parking will be made possible via the use of the nearby garage. The project’s general contractor is named Cavossa Management Inc. The designer of the landscape is Naturalficial.
The 28,477-square-foot site still has no address listed in the property records. Midtown Opportunities VIIIB LLC is listed as the owner of the property, which is typically situated along the west frontage of Northeast 1st Avenue between Northeast 31st and 32nd Streets.
According to the work items specified in the permit application, the construction of 224,000 square feet of space is expected to cost $40,000,000, or about $178 per square foot.
The size of the units will range from 432 square feet to 935 square feet, with studio through two-bedroom floor designs. All units will include premium wood-inspired flooring, custom bathrooms with double vanities and dual shower heads, high-efficiency washers and dryers, contemporary, open-concept kitchens with top-of-the-line equipment, 9-foot ceiling heights, floor-to-ceiling glass windows, and custom finishes. There will be private outdoor patios in some homes.
Owners and visitors will have access to a staffed lobby and concierge services, on-demand housekeeping, grocery provisioning, dry cleaning, shoe-shining, and tailoring, secured and air-conditioned storage rooms that are available to all residents for purchase, a climate-controlled package, and mail room, a 24-hour security system, high-speed elevators, and controlled property access.
The groundbreaking is anticipated for early 2023.
Fortune International Group Announces Casa Tau Branded Residential Tower-ORA
Fortune International Group, led by visionary founder Edgardo Defortuna, has announced a collaboration with hospitality brand Casa Tua to curate and program its newest high-rise, mixed-use development located at 1210 Brickell Avenue in Miami’s Brickell neighborhood.
ORA is the first branded residence for Casa Tua, the renowned, heartfelt brand and exclusive members’ only club that has gathered friends in their properties in Miami, Aspen, and Paris for over two decades and is set to launch in The Surrey, A Corinthia Hotel in Manhattan in 2023. Casa Tua has planned a full suite of amenities for the property, as well as short-term rental residences.
According to Defortuna, “ORA will serve as a unique residential development in a premier location, at the best corner in the Brickell neighborhood. We look forward to working alongside the Casa Tua brand to curate a sophisticated experience that will create a community for its residents and Brickell. ORA will become the city’s most exciting amenity.”
ORA by Casa Tua will feature, among other things, two new restaurant concepts by Casa Tua, a gourmet market by Casa Tua, a rooftop lounge – with resort-style offerings such as a pool, sky lounge, and bar; a show kitchen, private event space, and – curated by Casa Tua; an abundance of nature and lush landscaping infused into the building’s design, including full floors of floating gardens overlooking city views; an entertainment lounge, and fitness and wellness amenities.
Reservations for the short-term rental homes, which range in size from 500 square feet for studios to 2,400 square feet for four-bedroom homes, will open in January 2023. The price will begin at $800,000.
Terra Group Releases Renderings for $1 Billion Development-Upland Park
Upland Park, a $1 billion transit-oriented development planned close to Dolphin Mall, has unveiled renderings. According to the developer, Upland Park is being specifically constructed for connection with the projected east-west transit link.
Upland Park’s urban planner is Plusurbia Design, while the project’s design architect is Arquitectonica with the developer listed as the Terra Group.
According to the developer, the community would have quick access to key employment hubs like the Health District, Downtown, Brickell, and Miami International Airport.
The actual project location is the Dolphin rapid transit station.
Once within the community, people will experience a master-planned neighborhood that is walkable and has resiliency elements as well as built-in traffic solutions.
In order to appeal to “all ages and audiences,” including elders and students, the community will also offer a range of home sizes and price points.
Project Description:
1,700+ residences
140,000 sq. ft. of retail space
427,000 sq. ft. of commercial space
126 room hotel
charter school
After the developer acquired a lease for the property on December 1 and secured a $35 million site work loan, site construction is anticipated to start in early 2023.
Taurus Investment Holdings and The Congress Group Switch Civica Development from Office to Residential
The focus of Civica’s plans is shifting from offices to residences in recently updated plans for the development. In the previous plans, the development was set to rise 22 stories tall with a height change to 27 stories or 310 feet.
The changes also include 342 residential units, luxury amenities, commercial and office space, and an 8-level garage with 590 parking spaces.
The property is located five minutes walk from the Civic Center Metrorail station. The land sits right behind the 836 Expressway, which is being reconstructed as part of the Signature Bridge project.
Currently on the site is a three-story shopping center with 74,463 square feet, as well as a 4,768 square-foot bank branch. While the tower is being constructed, both of those buildings would still be present, albeit their parking spaces would be moved to the new parking garage for the complex.
The Miami Urban Development Review Board is scheduled to examine the project at a hearing on December 21. The architect for the project is listed as Cube 3 and the developers include Boston-based, Taurus Investment Holdings, and The Congress Group. The developer purchased the site for a combined $30.5 million in 2020.
New Development Announced in Brickell-Westpine
Westpine, a 43-story residential tower, has just had its plans submitted in Brickell. Westpine will have a 474-foot high peak and will feature 328 residential units, 1,155 square feet of retail, and 357 spaces for parking.
A multifamily building with 24 units that was built in 1964 is currently on the 0.7-acre site.
Westpine Brickell LLC is listed as the developer and Behar Font Partners as the architect. Westpine Brickell LLC, an affiliate of Westpine partners originally purchased the site for $11.53 million.
Instead of being referred to the City of Miami for review under city zoning regulations, the project was submitted to the Miami-Dade County Planners for review under their Rapid Transit Zoning Metromover Subzone.
On December 9, a pre-application meeting with county planners was sought.
Brickell, also known as the Financial District of Miami, is home to a large number of international banks such as HSBC, Espirito Santo Bank, and Banco Santander.
These Brickell Miami banks are predominantly located along Brickell Avenue – the main thoroughfare running through Brickell Miami and extending north to south from the Brickell Avenue Bridge to the Rickenbacker Causeway.
Brickell Miami is considered to be one of South Florida’s most prestigious neighborhoods and is a perennial favorite place to live among affluent, young professionals.
