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CLIENT NEWS: Retail Shops at Newly Completed $400M Overtown Complex ‘Packed’

January 22, 2025

Retail shops at Overtown’s new $400M Block 55 complex are filled with customers, developer Michael Swerdlow told the SFBJ. The Target store that anchors the complex is “full” and “packed” with customers, he said, while the Aldi supermarket there is also “packed all the time.” The 1.5- million square foot Block 55 opened last year, with the retail space fully leased. It includes around 200,000 square feet of retail, 130,000 square feet of office space (taken for a HQ space[...]

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CLIENT NEWS: Expansion Proposed for Miami Beach Hotel, Designed by Bjarke Ingels

September 12, 2024

The Standard Hotel in South Beach is proposed to be renovated and expanded, a new filing with the city shows. One wing of the hotel is proposed to be renovated, while another is proposed to be redeveloped. The number of hotel rooms will remain the same, while six residential units would be added. The design team includes Bjarke Ingles Group and Kobi Karp Architecture. Investors in the project include Barry Sternlicht, Bjarke Ingles, Marcelo Claure, Peter Thiel, and Antonio de[...]

CLIENT NEWS: Domus Brickell Center Gets FAA Approval, Demolition Permit Issued

September 12, 2024

FAA height approval has been issued for a 35-story tower known as Domus Brickell Center. A demolition permit has also been issued for the site. The FAA approval was issued on August 30, and allows for a permanent tower height on the property of 405 feet above ground, or 419 feet above sea level. The demolition permit was issued earlier in August, with Thornton Residential LLC listed as the contractor. Domus Brickell Center is planned to include 579 fully finished[...]

CLIENT NEWS: Acre scores controversial upzoning approval for 337-unit rental project near MiMo’s Legion park

September 12, 2024

A developer scored approval for a controversial upzoning for a 337-unit apartment project adjacent to Miami’s Legion Memorial Park, despite vehement pushback from neighbors. The Miami Planning, Zoning and Appeals Board greenlit the rezoning of a 3.5-acre vacant assemblage on the northeast corner of Biscayne Boulevard and Northeast 64th Street. Acre, an Atlanta-based multifamily private equity and investment firm, wants to build the six-story apartment building. The project, called Adela II, would rise immediately west of the bayfront five-story Adela[...]

CLIENT NEWS: MG Developer expands into hospitality after buying Miami hotel for $36M

September 12, 2024

MG Developer is entering the hospitality sector after paying $36 million for a hotel near Miami International Airport. Coral Gables-based MG, led by Alirio Torrealba and Diego Torrealba, acquired Regency Miami Airport by Sonesta, a five-story hotel with 176 rooms at 1000 Northwest 42nd Avenue, records and real estate database Vizzda show. The deal breaks down to $204,545 per key. The seller, an affiliate of Miami-based hospitality real estate firm OPB Capital Group led by Orlando Padron, paid $25.8 million[...]

CLIENT NEWS: Site Work Permit Issued For Former Miami Arena Site, Where 2,350 Units Planned

September 10, 2024

Miami’s Building Department has issued a site work permit for the former Miami Arena site. The permit was issued on August 26, with Coastal Construction listed as the contractor, records show. Three towers are planned on the property, to be built in phases. A master construction permit for the first tower, with 894 residential units, is currently moving through the approval process, along with a phased vertical permit. The first tower will rise 52 stories, or 624 feet. Eventually, the[...]