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CLIENT NEWS: Miami Beach project promises to house working class in tiny units. Rents start at $2,000

April 16, 2024

A new law has paved the way for twice as many apartments for a Miami Beach development that targets the city’s working class with capped rents. After being presented and approved two years ago, Mia will return to Miami Beach’s Planning Board in late April with double the number of floors and apartments than originally planned after the passage of the Live Local Act. The state law allows developers to build higher and add more apartments — disregarding local zoning[...]

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CLIENT NEWS: First Glass Installed At 648-Foot Miami River Tower

December 13, 2022

The ellipse shape of the 54-story, 648-foot Miami River tower can now clearly be seen, and glass is being installed, new photos by Phillip Pessar show. The Kobi Karp-designed building will become the westernmost tower in Miami to surpass the 600-foot mark. The phase currently under construction will include 632 apartments, retail space, and a public riverfront promenade that will be open to the public. Additional phases are planned. When all is completed, the project will have 1,961 apartments, 29,600 square[...]

CLIENT NEWS: Hotels partner to upgrade Lincoln Road

December 8, 2022

A beautification project to improve unkempt areas on the east end of Lincoln Road between the commercial district and the beach walk is advancing with the help of the owners of the Ritz-Carlton and the Sagamore South Beach hotels, who are investing millions of dollars. The owners of the Ritz-Carlton, at 1 Lincoln Road, and the Sagamore South Beach, at 1671 Collins Ave., started plans to revitalize Lincoln Road’s 100, 200 and 300 blocks, hiring a team of consultants headed[...]

CLIENT NEWS: Chetrit nabs $83M construction loan for Collins Park project

December 6, 2022

Chetrit Group got a financial boost for its Collins Park Hotel project, nabbing a $82.5 million construction loan. Kawa, a Hallandale Beach-based international asset manager, provided the financing, according to a spokesperson for Henry Bodek of New York-based Galaxy Capital, which brokered the loan. The new mortgage replaces a $62.5 million construction loan provided by Maxim Capital last year. Chetrit, led by founder Joseph Chetrit, is redeveloping six Postwar modern and Art Deco properties into a 271-room hotel complex spanning 172,000 square feet[...]

CLIENT NEWS: Brightline effect: Karsenti plans rentals next to Aventura stop

December 2, 2022

Arnaud Karsenti’s 13th Floor Investments wants a piece of the booming real estate market around the Brightline Aventura Station. The Coconut Grove-based firm is the prospective buyer of 2.4 acres of land just south of the soon-to-open train stop where the firm envisions a 350-unit apartment building, according to an application filed to Miami-Dade County late last month. The site at 19680-19770 West Dixie Highway is separated by the Forum Aventura office condominium from the Brightline station. The Corwil Architects-designed[...]

CLIENT NEWS: Fries with that? Developers propose rental towers at Shorty’s BBQ site

November 28, 2022

Developers are proposing a high-rise complex on the site of Kendall’s beloved Shorty’s BBQ. But not to worry, the restaurant serving slow-smoked meats for decades will remain in place for at least a couple of more years. Almost a year after purchasing the site, Atlantic I Pacific Companies and Florida Value Partners filed plans for a pair of apartment towers for the Shorty’s property and the body shop across the street at 9200 and 9180 South Dixie Highway, according to[...]