Developer Celebrates Plans to Revitalize Coconut Grove with Groundbreaking at Metronomic Place

Miami-based development company Metronomic Inc., led by Ricky Trinidad, broke ground last Thursday for the new, mixed-use office, retail and hotel project on Grand Avenue in Coconut Grove. The groundbreaking ceremony for Metronomic Place was attended by commissioner Xavier Suarez and is set to spearhead the long-awaited revival of this corridor.

The five-story building will have about 5,000 square-feet of Class A office space, 3,200 square-feet of ground floor retail space, and a 44-key boutique hotel. The lobby and hotel interior was developed by local firm One Design Build. Designer Hugo Mijares combined metal, concrete, wood and other raw elements to create a modern industrial design with Old American style. It will also feature an activated “green” rooftop with a pool and garden area that echo the natural aura Coconut Grove in known for. Metronomic Place has an estimated completion date of Winter 2019.

Ricky Trinidad, President of Metronomic, Inc., is a developer and resident himself in West Coconut Grove, and has deep roots to the community. He hopes the project will enhance the vitality of Coconut Grove’s commercial and entertainment core.

He also just closed on a 7,200 square-foot site at 3110 Commodore Plaza called Commodore Place. The boutique hotel will offer loft-style, short-term suites with attractive amenities, a rooftop pool and garden deck area, and a two-story duplexed retail venue on the first floor.

Renderings for Commodore Place.

Miguel Pinto of Apex Capital Realty brokered the deal and represented Metronomic Inc. Like Ricky, Miguel is focused on working on projects and deals that enhance communities and positively impact the commercial real estate industry.

As part of Metronomic’s larger plan to revitalize Grand Avenue, they also have over ten new construction projects in the works in Coconut Grove. This includes a large-scale comprehensive development of multiple properties of mixed-income, affordable housing, retail, office, park plazas, and sustainable living concepts.

Article by: Katya Demina

Una Residences Given Green Light

OKO Group’s latest development, the nautically-inspired Una Residences, has now been approved by Miami’s Urban Development Review Board. This key step brings the 47-story condo building, proposed for 175 SE 25th Road, a little closer to inception at the crossroads of Coconut Grove and Brickell.

The building will feature 135 waterfront condos starting at $942,000, an underground parking garage, and public baywalk that connects to an adjoining park. The review board granted a request to allow ingress for vehicle entries at the loading docks and service area, which will pave the way for the demolition of the current structure.

This process of condo termination and redevelopment has been fueled by CEO of OKO Group, Vladislav Doronin’s confidence in the site, which he began to assemble back in 2016 by buying out current residents at nearly double the expected market value. “There has been no new construction here for the last 10 years,” says Doronin. “We were lucky to manage to purchase this site. And for the near-future, no one else is going to build here. We won’t have any competitors in South Brickell.”

This developer strategy of parcel identification and repurposing can be expected to continue in the upcoming real estate cycle as waterfront property becomes more scarce in Miami. Sales for Una, which are being handled exclusively by Fortune International Realty, went live back in March. Cash buyers have been the cornerstone to Una’s pre-sale success, most coming from overseas, since the building has not yet secured any form of traditional financing.

The project is expected to be completed by 2021.

Article by: Katya Demina