MIAMI | Development Thread

[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]

The Transformation of West Brickell

http://www.goldenduskphotography.com...-west-brickell

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

[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/m...ne-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.

[GoldenDuskPhotograph]

Flagstone Receives Approval to Develop Watson Island

http://www.goldenduskphotography.com...-watson-island

[chris08876]

Jade Signature developer scales down project

As competition for buyers intensifies in Sunny Isles Beach, where 14 new condo towers are proposed, developer Edgardo Defortuna is reducing the number of units, square footage and parking spaces in his Jade Signature tower under construction in the city.

Citing “recent changes in the marketplace,” the developer – in a letter submitted by attorney Clifford A. Schulman of law firm Weiss Serota Helfman – filed a “major site plan modification” request seeking formal approval for the changes from Sunny Isles Beach commissioners. The application is on the agenda for Thursday’s commission meeting.

The Jade Signature modification request calls for the elimination of 31 condo units and seven parking spaces in the 56-story tower at 16901 Collins Avenue, which is immediately south of a pair of condo towers – Jade Ocean and Jade Beach – that were previously developed by Defortuna.

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http://therealdeal.com/miami/blog/20...condo-project/

[chris08876]

Dadeland Mall renovation adds 25 stores

The recent redevelopment of the Dadeland Mall will add 25 new stores and approximately 1,500 new jobs, according to mall manager Irma Castor.
The new two-level Terrace wing added 102,000 square feet to the mall and stores such as Microsoft, Tommy Bahama and Urban Outfitters. Restaurants took about 30,000 square feet of the mall’s new wing, including Aoki Teppanyaki, Balans, Earls Kitchen + Bar and Texas de Brazil.
“The restaurants have added a fresh, new nightlife element that Dadeland Mall did not have before,” Castor said.

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May 13, 2014
http://therealdeal.com/miami/blog/20...dds-25-stores/

[MiamiSpartan]

Originally Posted by chris08876

Dadeland Mall renovation adds 25 stores




=====================================
May 13, 2014
http://therealdeal.com/miami/blog/20...dds-25-stores/

The one odd thing about the addition: They closed off the mall entrance there....and KEPT the handicapped parking there! Discovered it when I was there with my 83 year old Mom who doesn't get around all that well....Can't believe they let that one fly....

[chris08876]

Possible project to keep our eyes on. May lead to something nice retail/mix-used wise.
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New York investor pays $45.4M for Sam Herzberg's portfolio, plans major project

The New York investor paid $45.4 million for Sam Herzberg’s portfolio in the district. Thor’s acquisition of the five properties closed on Friday. Miami-Dade County has not recorded the all-cash transaction.
Thor adds more than 32,000 square feet to its growing assemblage in the district. The company has spent more than $76 million in four recent acquisitions, including last month’s $15.8 million purchase of the Baltus building. That building is contiguous to the properties Thor acquired from Herzberg.

Scott Sherman, a Thor executive, declined comment when reached on Monday. The company already added the 2-54 Northeast 40th Street properties to its website, however. In its description of the portfolio, Thor says it plans to redevelop the existing buildings into “the most enviable luxury mixed-use property in the Design District.”

Herzberg, who owns the Sterling Building on Lincoln Road, generated a substantial return on the $19.3 million investment he made in the properties. Companies managed by Herzberg acquired the parcels in several transactions two years ago. Wells Fargo Bank provided Herzberg’s companies with a $13.3 million loan for the purchases.

“A lot of this has to do with my personal situation,” Herzberg told TRD on Monday. “I felt like it was a development piece. I’m not a developer. I buy existing properties and try to manage them better.”
The transaction represents “a good opportunity for both parties,” Herzberg said. “This is the type of property, urban high-end retail, that Thor likes to buy.”

Chariff Realty Group’s Lyle Chariff and Mauricio Zapata arranged the transaction.
“Thor remains very committed to the Miami Design District and has been very supportive of Craig Robins’ neighborhood improvement plan,” Chariff told TRD. “We began this transaction several months ago and I’m happy to see that we had a smooth successful closing. I see property prices within the district continuing to drastically rise, just based on current purchase contracts that we have knowledge of.”

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May 12, 2014
http://therealdeal.com/miami/blog/20...-district-buy/

[MiamiSpartan]

Great....I'll probably have major power lines down my street.....

[Dale]

But it won't make you sick unless you believe it will. If you believe it will make you sick, you'll get sick.

[GoldenDuskPhotograph]

Swire buying more land in Brickell

http://www.goldenduskphotography.com...nd-in-brickell

[bobdreamz]

^ They are getting close to those low rise shops that also houses Tobacco Road.

[chris08876]

Originally Posted by bobdreamz

^ They are getting close to those low rise shops that also houses Tobacco Road.

How are people in the Miami area responding to the news of a nuclear plant addition? It doesn't seem that popular from what I'm reading and hearing. Even city officials in the metro seem worried. It does seem IMO necessary though in order to keep up with the power demands in the region given the growth in the last decade.

[GoldenDuskPhotograph]

Originally Posted by bobdreamz

^ They are getting close to those low rise shops that also houses Tobacco Road.

You know that Tobacco Road won't be there too much longer after the lease expires right? All those low rises including River Oyster Bar, Frame Works will be knocked down.

[bobdreamz]

^ I don't know what the concern is about adding a new nuclear plant addition. I used to live a few miles from Turkey Point and they had monthly warning sirens tests. The facility took on the full brunt of Hurricane Andrew in 1992 and the plant was fine.