MG Developer has recently partnered with Berkshire Hathaway HomeServices (BHHS) EWM Realty to lead sales and marketing for Althea Row and Biltmore Row. These are the last two projects that will complete the developer’s community, Biltmore Square, in Coral Gables.
Read MoreCocoWalk Announces New Fashion-Focused Retailers Ahead of Fall Reopening In Coconut Grove
CocoWalk, one of the most highly anticipated mixed-use projects in Miami, has announced new clothing concepts to join their lineup. The open-air lifestyle center is bringing new tenants and energy to the Coconut Grove neighborhood. It is slated to begin its phased reopening later in the Fall along with new fashion-focused tenants. CocoWalk features 150,000 sq.ft. of prime retail and dining space that is currently 80% leased. New brands include Free People Movement, Europann and Late Night Gypsy.
Read MoreWynwood Norte Takes A Step Towards Approval After Rezoning Approved By Miami City Commission
Wynwood Norte is one step closer towards approval after the Miami City Commission voted unanimously to approve the rezoning of the area just north of Wynwood to allow mid-rise development for infilled housing. The community plan still needs to be reviewed by state officials.
Read MoreMacken Companies Announces Development Of Koya Bay Luxury Townhome In North Miami Beach
Macken Companies has announced plans to develop Koya Bay luxury townhome in North Miami Beach and scheduled to break ground Q2 2021. The development plans include 10 four-story luxury residences in the waterfront community of Eastern Shores. Each residence will feature a private elevator, rooftop terrace, dock, and two-car garage with optional car lift.
Read MoreMiami, Palm Beach County and Fort Lauderdale recover about 28,000 jobs since the start of the COVID-19 pandemic
Almost 28,000 jobs have been recovered since the beginning of the COVID-19 pandemic in Miami, Palm Beach County and Fort Lauderdale. Majority of these jobs fall into the government, hospitality and retail sectors. The Bureau of Labor Statistics released data showing the Miami market has gained over 16,000 jobs in August, Palm Beach has gained about 7,000 and Fort Lauderdale has gained over 5,000.
Read MoreTimeEquities Launches Leasing For Resort-Style Development CasaMara In West Palm Beach
Global real estate firm Time Equities, Inc. (TEI) has officially launched leasing at CasaMara, a mixed-use, resort-style development located in the heart of the El Cid neighborhood and the Antique Row District in West Palm Beach, Florida.
Read MoreBeaches in Miami-Dade County have been closed.
Tracking COVID-19 By The Numbers: Breaking News In South Florida
(Last Updated 6:14 AM 3/27/2020):
BREAKING:
City of Miami officials have announced a curfew for its residents that will begin Friday night. According to officials, all residents must be indoors from 10 p.m. until 5 a.m. (3/27/2020)
Miami-Dade Mayor Issues Executive Order Closing All Non-Essential Business 9 PM Thursday. (3/20/2020)
All U.S. Citizens traveling around the world should return home ASAP or be prepared to stay abroad for an indefinite period. (3/19/2020)
Continue to check back for updates to below as we continue to track COVID-19 across South Florida:
Stats:
Number of Cases in Florida: 830+ (3/23/2020)
Fatalities in Florida: 13+ (3/23/2020)
Number of Global Cases: 351,000+ (3/23/2020)
Global Fatalities: 15,321+ (3/23/2020)
Number of U.S. Cases: 35,075+ (3/23/2020)
Fatalities in the U.S.: 458+ (3/23/2020)
Miami-Dade County:
Miami-Dade County # Cases: 2900+ (3/27/2020)
BREAKING: Miami-Dade Mayor Issues Executive Order Closing All Non-Essential Business (3/20/2020)
CONFIRMED CASES IN BRISTOL TOWER BRICKELL & SOHO BEACH HOUSE (3/19/2020)
Officials have ordered the closure of all restaurants, bars, movie theaters, concert houses, auditoriums, playhouses, clubs, gyms, arcades, bowling alleys, etc. which will go into effect 11 PM Tuesday. All grocery stores, pharmacies, take-out and delivery services will remain open at this time (3/17/2020)
All bars and nightclubs will be closed for 30 days.
Restaurants will only be able to operate at half capacity.
Exceptions granted if they have a capacity of 10 people or less.
Mayor Carlos Jimenez signed the emergency order, but remains in self-quarantine after being exposed to a Brazilian government official who tested positive following a visit to South Florida.
Miami-Dade Public Schools are now closed through at least April 15. (3/19/2020)
Miami-Dade Public Schools have closed this week and next. (3/16/2020)
Key Biscayne and North Miami Beach have implemented curfew between 10 PM and 5 AM (3/19/2020)
Officials have closed the beach from 5th to 15th Street, including Lummus Park.
All city parking garages are closed to non-residents.
In addition, all non-essential retail stores will be required to close at 10 p.m. daily. (3/16/2020)
Businesses excluded from this directive include: Pharmacies, grocery stores, convenience stores, private offices, banks, hotels, hospitals, medical service providers, medical supply stores, hardware stores, gasoline service stations and automotive supply and repair centers.
An entertainment district curfew will go into effect at 11 p.m.
All restaurants are asked to keep occupancy at 50% or less, and have under 250 people in each establishment at any given time.
Ultra Music Festival has been cancelled.
Miami Music Week has been cancelled.
ArtScape Concert has been cancelled.
The Miami Open Tennis Tournament has been cancelled.
University of Miami & FIU have moved classes online until the end of the spring semester. (3/20/2020)
University of Miami Spring Commencement postponed until December. (3/20/2020)
The Hardrock Seminole Hotel & Casino has suspended entertainment operations.
Calle Ocho Festival has been cancelled.
Mayor Francis Suarez has confirmed that he has COVID-19.
Broward County:
Broward County # Cases: 180+ (3/23/2020)
Broward County Public Schools are now closed through at least April 15. (3/19/2020)
Officials have closed the beach from Harbor Beach to Oakland Park Boulevard.
Restaurants and bars must close by 10 p.m.
Restaurants and bars are asked to operate at 50% capacity and have no more than 250 people at any time.
The Tortuga Music Festival, which was set to run from April 17-19, has been postponed.
The Wharf Fort Lauderdale is closed until further notice.
The listed measures will remain in effect until April 12.
Palm Beach County:
Palm Beach County # Cases: 59+ (3/23/2020)
Town of Palm Beach implements curfew until further notice from 9 P.M. - 6 A.M. (3/18/2020)
Palm Beach County Public Schools are now closed through at least April 15. (3/19/2020)
Beaches will be closed on Tuesday 3/17/2020
Nursing Homes and Assisted Living Facilities are closed to visitors.
Drive-through testing underway at FoundCare (2330 S. Congress Ave, West Palm Beach - call 561-967-0365 to see if you qualify and for appointments)
National:
BREAKING: The Federal Government has passed a $2.2 trillion stimulus package.
United States of America # Cases: 35,075+ (3/23/2020)
United States of America Fatalities: 458+ (3/23/2020)
Income tax filing deadline moved to July 15 (3/20/2020)
Foreclosures and HUD evictions have been halted for 60 days.
CDC recommends ban on gatherings of 10+ people.
The Players Championship was cancelled & PGA Tour is suspended.
NBA, NHL, MLB and MLS have suspended their seasons.
All ski resorts have closed.
Steve Witkoff and Matthew Cherwin.
UNIVERSITY OF MIAMI HOSTS ITS NINTH ANNUAL REAL ESTATE IMPACT CONFERENCE
On Friday, February 28th, the University of Miami School of Architecture hosted its ninth annual Real Estate Impact Conference, which brought together board members, students, faculty, distinguished alumni and real estate professionals. The invitation-only conference was hosted at the Four Seasons Hotel in Brickell with support from presenting sponsors Douglas Elliman Real Estate, Kislak, and Witkoff.
More than 650 University of Miami students and alumni, including many South Florida commercial real estate and finance professionals, discussed both threats and opportunities in the market at the multidisciplinary conference.
“Bringing together faculty and students from our schools of architecture, business and law is an important step in tackling today’s complex problems,” said University of Miami President Julio Frenk. “This conference is an excellent example, because real estate is essential to Miami’s economy with an impact around the world.”
Anthony Graziano and President Julio Frenk.
In addition to panel discussions and networking sessions, there were several special programs available to MRED+U, MBA, MSF and Law School students throughout the day. One of the benefits of membership on the University of Miami Real Estate Advisory Boards, which consist of over 100 prominent real estate professionals, is personal contact with the best and brightest students. Advice With Impact was an intimate, morning networking session which was attended by students and sponsors such as IBERIABANK, Plaza Construction, CBRE and Whitman Family Development.
Katya Demina, Tom Murphy and Alana Fernandez.
University of Miami students were also invited to apply for the premier networking opportunity of the school year: the Swire Scholar Luncheon. Scholars received complimentary registration ($300 value) to attend the conference and participated in a private luncheon with advisory board members from the Architecture, Business and Law schools. David Martin, vice president of retail at Swire Properties, welcomed UM’s Swire Scholar students to the opening luncheon, where they had an opportunity to discuss their studies and career plans with UM’s Real Estate Advisory Board members.
For MBA student Jack Shelgren, the Swire Scholars luncheon provided valuable learning and networking opportunities. “As an intern, I did research and financial analysis, learning about multifamily, office and retail asset types,” he said. “Now, I’m an associate at Freeman Property Group, gaining an entrepreneurial perspective, while working on acquisitions for our clients.”
MRED+U students Nick Nicola and Tanya Rivera with Jackie Touzet.
In the afternoon, top executives from JP Morgan Chase, Ventas and Hines took the stage and provided valuable insight on today’s real estate market. They commented that hospitality services are playing an increasingly important role throughout the commercial real estate market, as employers seek to recruit and retain talented workers. Another emerging trend is the growing demand for medical office properties and senior housing driven by the aging of the U.S. population. Without question, the global spread of the novel coronavirus COVID-19 poses a threat to global real estate markets, according to Matthew Cherwin, treasurer and chief investment officer of JP Morgan Chase.
The school also highlighted its Research Initiative, which was introduced in 2018 by Dr. Charles Bohl, Director of the Master in Real Estate Development + Urbanism (MRED+U) Program. “Both the University of Miami and our Real Estate Advisory Boards have made Resiliency a top research priority of immense relevance to South Florida and coastal communities around the world. It is through joint research initiatives like this that our students, faculty and researchers can help us address the big, challenging issues of our day, including the adaptation and development of more resilient buildings, infrastructure and communities,” said Bohl. Professor Mark Troen and students from the MRED+U program presented this year’s findings on stage.
The 2020 Impact Conference Organizing Committee consists of Andrea Heuson, Charles Bohl, Manuel de Zarraga, Nitin Motwani, Alfonso Munk and Steve Witkoff. Nitin Motwani, Managing Principal of Miami Worldcenter and Chair of the MRED+U Advisory Board, closed the standing-room-only conference by reminding participants that, “The University of Miami Real Estate Impact Conference supports all real estate education at the University, which has become an interdisciplinary powerhouse that blends real estate programs in finance, development, and law with construction management, architecture and engineering.”
Blue Lagoon Community Gets Much-Needed Rental Development Soleste and A New Name
The Estate Companies, a leading developer of luxury multi-family projects throughout South Florida, has secured its certificate of occupancy (CO) for Soleste Blue Lagoon, a luxury, eight-story development with 330 rental units located at 5375 NW 7th Street in Miami.
The project broke ground in 2017 and move-ins began in October. Because Soleste Blue Lagoon is the only Class A market-rate project in the Blue Lagoon community, home to over 100 multinational companies, it quickly achieved 65 percent lease-up. The Blue Lagoon office community also recently announced a $10 million makeover and name change. The 250-acre office park will rebrand itself as the Waterford Business District, in order to remain competitive with Miami’s growing office market.
Tenants can select from a variety of studios, one, two and three-bedroom units outfitted with sleek, modern kitchens with custom cabinets, quartz countertops and designer lighting, dual master suites, spacious walk-in closets and private balconies overlooking Blue Lagoon Lake. Pricing starts in the $1,500’s for studios, $2,100’s for two-bedrooms, and $2,600’s for three-bedrooms.
“We are proud to deliver this transformative development to the Blue Lagoon area,” stated Robert Suris, managing principal, The Estate Companies. “Our firm is committed to developing beautiful and highly-amenitized communities at a competitive price point. This winning combination makes Soleste Blue Lagoon an attractive and dynamic option for high-quality, professional tenants.”
Like all projects within the Soleste Living brand portfolio, Soleste Blue Lagoon is curated with a vast collection of health and wellness offerings and social components, including a lakeside pool with spa, sundeck and private cabanas, co-ed spa with steam room and sauna, aerial yoga studio, state-of-the-art health and fitness club, spinning room with digital fitness instruction, rooftop garden with life-size chess, hammock and yoga lawn, and an electric car charging station.
This milestone comes on the heels of the firm’s grand opening of Soleste Twenty2, a 338-unit rental community, which is also experiencing high velocities at the current price points.
The Estate Companies is on track to deliver an additional 519 units this year with Soleste Alameda and Soleste Bay Village and has an additional 2,196 units in its pipeline slated for delivery early next year. Notable upcoming projects include Soleste Bay Village, Soleste Grand Central and Soleste Spring Gardens, among others. Its project portfolio features a mix of garden-style, mid-rise and high-rise rental developments in Dade and Broward counties.
By Katya Demina
The Grand Hyatt Selected as Flag for New Miami Beach Convention Center Hotel
The development team behind Miami Beach’s new Convention Center hotel announced today that the 800-room property will be operated by Hyatt under the luxury Grand Hyatt brand, when it opens to guests in 2023. Grand Hyatt Miami Beach will create a new hospitality option for visitors attending events at the adjacent Miami Beach Convention Center, which underwent a $600 million renovation that was completed last year, and will anchor the Convention Center District.
The new hotel will become the second Grand Hyatt property in Florida, joining Grand Hyatt Tampa Bay. Grand Hyatt hotels are designed to connect guests with iconic experiences, landmarks and cultural touchstones in captivating destinations around the world. Hallmarks of the brand include bold and vibrant design and architecture, elevated amenities and welcoming service that creates moments of more.
The hotel development is being led by David Martin of Terra and Jackie Soffer of Turnberry, whose plans for the hotel were overwhelmingly approved by Miami Beach voters in 2018. The 17-story hotel will be situated at the intersection of 17th Street and Convention Center Drive, within walking distance of the beachfront, Lincoln Road Mall, New World Symphony, The Bass Museum and The Fillmore Miami Beach.
“For years, Miami Beach has served as a global destination for arts, culture, shopping, dining and entertainment, but the City has lacked a true headquarters hotel for top-tier conventions and meetings,” said Martin and Soffer. “South Florida’s first Grand Hyatt hotel will maximize Miami Beach’s investment in its re-imagined Convention Center while bridging the physical gap that exists between the Convention Center District and surrounding neighborhoods.”
Grand Hyatt Miami Beach will be designed by architect Bernardo Fort-Brescia and his firm, Miami-based Arquitectonica. The development team also includes partner Craig Robins of Dacra, who is the visionary behind the Miami Design District and helped revive Miami Beach’s Art Deco District in the 1990s; Stonehill Taylor, which is designing the hotel’s interior lobby and lounges, ballroom and meeting rooms, hotel rooms and all common areas; EOA, which is designing the pool deck hospitality features of the hotel; and Arquitectonica GEO, which is creating lush pedestrian promenades and landscapes.
Hotel features are expected to include 12 floors of guest rooms offering views of Miami Beach, two floors of meeting spaces and ballrooms that will complement the Convention Center, a resort-style pool deck with panoramic views, and limited retail space that will activate the district at street level. An elevated skybridge will enable event attendees to move freely between the hotel and Convention Center in a climate-controlled, art-filled corridor.
Plans also include landscaped pedestrian promenades on surrounding streets, bike sharing stations, connectivity with public transit routes, dedicated ridesharing pick-up and drop-off zones, and direct access between the Convention Center and Lincoln Road. The project’s resiliency and sustainability measures include storm water management and reuse, flood risk mitigation, and the use of solar power – all of which are designed to ensure operational continuity during weather events.
“The Greater Miami Convention & Visitors Bureau (GMCVB) joins Terra, Turnberry and The City of Miami Beach in welcoming the Grand Hyatt Miami Beach as the newly named brand for the 800-room headquarter hotel connected to the Miami Beach Convention Center,” said William D. Talbert, III, CDME, President of the GMCVB. “Grand Hyatt Miami Beach makes it possible to better compete for citywide conventions which fuel jobs in our community and generates business for all of Greater Miami’s hotels and merchants. We look forward to the hotel ground-breaking which once completed will finalize the Miami Beach Convention Center District.”
By Katya Demina
