MIAMI | Development Thread

[Dale]

I'm actually a little depressed about Skyrise now. I had no idea it was subject to referendum. Seriously, what are the odds that it will pass in a city in which we are almost daily acosted with the notion of the widening wealth gap ?

[chris08876]

Originally Posted by Dale

I'm actually a little depressed about Skyrise now. I had no idea it was subject to referendum. Seriously, what are the odds that it will pass in a city in which we are almost daily acosted with the notion of the widening wealth gap ?

I think the voters will vote for it to proceed. This project isn't something like "500 Alton" in which the Nimby voters in Miami beach would love to turn this down (Based on the height). Being in the actual city of Miami, I think given the high rise nature of the downtown area along with the surrounding areas, that hopefully the voters will use their heads on this one and see the benefits. I think it would be wise to have a marketing campaign for skyrise to give low information voters (the average american) information on the benefits. See, we at SSP know better, but the average american can't see something good even it it bit them in the —.

Although I don't think NIMBY's are a strong force in Miami yet. Lets hope it doesn't happen anytime soon (Nimbyism).

[GoldenDuskPhotograph]

Originally Posted by Dale

I'm actually a little depressed about Skyrise now. I had no idea it was subject to referendum. Seriously, what are the odds that it will pass in a city in which we are almost daily acosted with the notion of the widening wealth gap ?

I'm not sure how this will pan out, but it will be interesting to see how this fare's in the long run.

[chris08876]

Originally Posted by GoldenDuskPhotograph

I'm not sure how this will pan out, but it will be interesting to see how this fare's in the long run.

GoldenDusk, you might be interested in checking this out:

http://devmap.io/cities/miami/developments

Its a development project in which users can place locations and projects along with information/pics.

Here is the overall project:

http://devmap.io/

Fairly new, but cities like Houston have many projects filled in, and it is a work in progress. There are many projects for the Atlanta Area and Miami is also gaining some speed in terms of project information.

[UrbanImpact]

Originally Posted by GoldenDuskPhotograph

Hmm, this is interesting. I would go to an observation tower there. I'm guessing that you would be able to see Miami from there.

You can see downtown Miami from the I595/I75 interchange (the uppermost ramp) in West Broward County.

[bobdreamz]

Sorry but the SkyRise project is hideous and will block the view of the waterfront skyline. This God awful thing belongs in a place like Orlando not Miami.

[Dale]

Originally Posted by bobdreamz

Sorry but the SkyRise project is hideous and will block the view of the waterfront skyline. This God awful thing belongs in a place like Orlando not Miami.

Yes, Bob, we know you don't like Orlando.

[Dale]

Anyone having trouble with SSC ?

[MiamiSpartan]

It won't pass....

The Miami voters are an amazingly negative bunch.....
I didn't know it was subject to a referendum, either....

[chris08876]

Originally Posted by MiamiSpartan

It won't pass....

The Miami voters are an amazingly negative bunch.....
I didn't know it was subject to a referendum, either....

Could the developer ask for a repeal if such a vote did occur to block construction if it does start in June? I'm not 100% sure in in terms of the legal complications that could follow. It seems that if they did begin in June, there would be a lot of lost income if Skyrise is blocked if a August or November vote occurs.

[Dale]

That's what I'm saying. If I were a developer I'd be extremely reluctant to bury funds in an endeavor which would likely be stopped three months down the road.

[bobdreamz]

The reason it is going to a referendum is because it is city owned land and not private property. Even the American Airlines Arena is leased city property.

[GoldenDuskPhotograph]

Originally Posted by chris08876

GoldenDusk, you might be interested in checking this out:

http://devmap.io/cities/miami/developments

Its a development project in which users can place locations and projects along with information/pics.

Here is the overall project:

http://devmap.io/

Fairly new, but cities like Houston have many projects filled in, and it is a work in progress. There are many projects for the Atlanta Area and Miami is also gaining some speed in terms of project information.

That is a great interactive map. I like that a lot. Thanks for sharing.

[GoldenDuskPhotograph]

Originally Posted by UrbanImpact

You can see downtown Miami from the I595/I75 interchange (the uppermost ramp) in West Broward County.

Yeah, I've been on that ramp before and seen the city from there. Isn't that spot closer to Miami than Homestead to Miami?

[GoldenDuskPhotograph]

The Transformation of West Brickell

http://www.goldenduskphotography.com/blog/2014/5/7/the-transformation-of-west-brickell

[IMG]West Brickell by viper1165, on Flickr[/IMG]

[chris08876]

This could become something big.
----------------------------------------------

The brokers marketing a waterfront property adjacent to downtown Miami’s EPIC Hotel & Residences say they’ve already received two offers exceeding $100 million.

A company tied to EPIC developers Ugo Colombo and Diego Lowenstein want to sell the 1.25-acre parcel at 300 Biscayne Boulevard Way, as previously reported by The Real Deal. CBRE began showing the site to potential buyers about a month ago.

Since then, 90 groups expressed interest in purchasing the property, CBRE’s Robert Given told the Daily Business Review. Given and Gerard Yetming, the brokers leading marketing efforts, won’t respond to the initial offers until all bids are made.

“We’re looking for the best combination of pricing as well as the quality of the developer,” Given said.
Only nine Miami properties have sold for at least $100 million in the city’s history, according to the Review. That includes the Related Group’s $104 million acquisition of 444 Brickell Avenue in December 2013.

========================================
http://therealdeal.com/miami/blog/2014/05/07/downtown-miami-property-draws-huge-interest/

[GoldenDuskPhotograph]

They can certainly build something high in that location.

[dave8721]

Centro in the CBD is set to go vertical

http://www.globest.com/news/12_855/miami...roject-Reaches-Key-Milestone-345819.html

Centro Condo High-Rise Project Reaches Key Milestone

By John Jordan | Miami

MIAMI—Centro, the first residential condominium construction project in Miami since 2008, hit a critical milestone with its recent foundation pour. The process took 20 hours over two days at the project site for the 37-story loft-style condo tower at 151 SE 1st St.

A total of 68 trucks poured 1,360 yards of concrete over two days (April 26th and May 3rd). Centro developer Harvey Hernandez, chairman and managing partner of Newgard Development Group, says, "The foundation pour is a monumental milestone in Centro’s construction progress. In the past, people would come downtown to work and then leave immediately after dark. Today downtown is a dynamic neighborhood, close to cultural venues, offices and public transportation, offering endless amenities. It’s an exciting area where people want to live, and Centro residents will be in the center of it all.”

Centro’s residences will include one- and two-bedroom units with open-concept floor plans; 10-foot ceilings; floor-to-ceiling windows with energy-efficient, sound-reducing glass; and balconies. Contemporary interiors will feature finished concrete floors; oversized closets; modern Italian kitchens, bathroom and light fixtures; Italian cabinetry; and stainless-steel, energy-smart appliances.

Planned building amenities are to include a two-story penthouse recreation area featuring a rooftop pool with 360-degree views; health club and spa facilities; and resident’s Skylounge. The finished tower will also feature full-service valet parking; an outdoor pet area with access controlled entry/exit; 24-hour reception desk; multiple fully-wired shared workspaces; and ground-floor anchor restaurant and retail space.

The tower will also have dedicated parking for the Car2Go vehicle sharing program and lifetime Car2Go memberships for residents, as well as parking nearby in an existing garage.

[chris08876]

Originally Posted by dave8721

12-story Le Parc breaks ground in West Brickell:



http://www.globest.com/news/12_828/miami...-Brickell-Condo-Bets-on-Boom-344442.html

Update on Le Park Brickell:

--------------------------------

Le Parc at Brickell gets $19M loan

The developers of condo project Le Parc at Brickell received a $19 million loan.

Banco de Credito Inversiones Miami Branch (or BCI Miami) gave Miami-based ALTA Developers and Strategic Properties Group the mortgage for the 128-unit project, according to a written statement released on Thursday by a spokesperson for the developers. The companies began construction at the 1600 Southwest First Avenue site last month. They hope to finish the 12-story tower in late 2015.

Preconstruction unit prices at Le Parc range from the low $300,000s to about $750,000.

“This deal shows how banks are willing to lend to well-capitalized developers building projects in great locations,” ALTA CEO Patricio Ureta said. “This loan speaks very highly of our development given the fact that lenders continue to be cautious.”

=========================================
Eric Kalis
May 08, 2014
http://therealdeal.com/miami/blog/2014/05/08/le-parc-at-brickell-gets-19m-loan/

[GoldenDuskPhotograph]

Flagstone Receives Approval to Develop Watson Island

http://www.goldenduskphotography.com/blo...ceives-approval-to-develop-watson-island