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PROFILEmiami%252BCOVID-19%252BImpact%252Bon%252BCommercial%252BReal%252BEstate%252Bin%252BSouth%252BFlorida%252BWebinar.jpg

Join Us For a Webinar: COVID-19 Impact On Commercial Real Estate in South Florida

March 30, 2020

PROFILEmiami presents a conversation around the impact that COVID-19 has, and will have, on the commercial real estate industry in South Florida. Hear first hand from some of Florida's leading real estate professionals about how they are reacting to the crisis, navigating the uncertain circumstances and preparing for future opportunities that may arise from the economic fallout.

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In Agent Insight, Brokerage, Commercial, Construction, Construction Update, Education, Finance & Banking, Hospitality, Invest, Leasing, Leasing Update, Market Insight, Private Equity, Public Health Tags Avison Young, Michael T. Fay, Thomas D. Wood Jr., Jacques Bessoudo, Galium Capital, COVID-19, Coronavirus, Featured
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Shoma Group Closes On $17.6 Million Construction Loan For Ten30 South Beach

Shoma Group Closes On $17.6 Million Construction Loan For Ten30 South Beach

March 27, 2020

South Florida developer Shoma Group has announced that they have closed on a $17.6 million construction loan for Ten30 South Beach. The loan was provided by New York-based ACRES Capital Corp.

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In Construction News, Construction Update, Construction, Finance & Banking, Miami Beach, New Construction, News, Residential, South Beach Tags Shoma Group, News, Construction News, Construction Loan, Construction Update, Ten30, Ten30 Condo, Ten30 South Beach, Masoud Shojaee, Financing, Finance, Finance & Banking, Banking, Lending, ACRES Capital, Cooper Horowitz, Michael Horowitz, Mark Fogel, South Beach, Miami Beach, New Construction, Residential
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Beaches in Miami-Dade County have been closed.

Beaches in Miami-Dade County have been closed.

Tracking COVID-19 By The Numbers: Breaking News In South Florida

March 27, 2020

(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 County and the City of Miami Beach have ordered all hotels, motels and short-term rentals to begin immediately shutting down and vacate their guests, with full-closure by 11:59 PM on Monday, March 23. (3/21/2020)

  • 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 County and the City of Miami Beach have ordered all hotels, motels and short-term rentals to begin immediately shutting down and vacate their guests, with full-closure by 11:59 PM on Monday, March 23. (3/21/2020)

  • 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.

In Affordable Housing, Brickell, Closed, Commercial, Community, Construction, Construction News, Downtown, Education, Fort Lauderdale, Hospitality, Hotels, Key Biscayne, Market Report, Miami Beach, Miami-Dade County, Multifamily, N Miami Beach/ Aventura, New Construction, News, North Miami, Palm Beach, Palm Beach County, PortMiami, Public Health, PSA, Restaurants, Retail, Senior Living, South Beach, Travel Tags COVID-19, COVID19, Coronavirus, Mayor Carlos Jimenez, Mayor Francis Suarez, Featured
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Alta Developers Launches Sales At The Recently Completed Quadro At The Miami Design District

Alta Developers Launches Sales At The Recently Completed Quadro At The Miami Design District

March 20, 2020

Alta Developers, a South Florida-based real estate development firm, has announced the completion and launch of sales at Quadro at the Miami Design District. Quadro at the Miami Design District is a resort-style condominium with 198 turn-key residences where art is integrated throughout the entire development.

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In Construction, Construction News, Construction Update, Design District, Miami Design District, Mimo, Mixed Use, New Construction, News, Residential, Sales Update Tags Miami Design District, Design District, News, New Construction, Short Term Rentals, Quadro, Quadro at the Miami Design District, Raimundo Onetto, Alta Developers, Behar & Font, Biscayne Boulevard, MiMo, Mimo, Construction News, Construction, Construction Update, Sales Update, Residential, Fortune Development Sales, Fortune International Realty, Mixed Use
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Two Roads Development Launches The Arquitectonica-Designed Forté In West Palm Beach

Two Roads Development & Alpha Blue Ventures Launch The Arquitectonica-Designed Forté In West Palm Beach

March 19, 2020

A development partnership between Two Roads Development and Alpha Blue Ventures has launched Forté, a boutique luxury waterfront condo project, coming to West Palm Beach. Forté will be located on Flagler Drive and Douglas Elliman Development Marketing will be the project’s exclusive sales and marketing brokerage.

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In Construction, Construction News, Construction Update, Luxury Real Estate, New Construction, News, Palm Beach, Palm Beach County, Residential, West Palm Beach Tags Featured, News, New Construction, Construction News, Construction, Construction Update, Palm Beach, Palm Beach County, West Palm Beach, Forté, Douglas Elliman, Douglas Elliman Development Marketing, Two Roads Development, Alpha Blue Ventures, 1309 South Flagler Drive, Arquitectonica, Bernardo Fort-Brescia, Luxury Real Estate, Luxury Condo, Taylor Collins, Reid Boren, Jay Phillip Parker, Residential
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Melo Group Launches Pre-Leasing For Miami Plaza Apartment Tower In Downtown Miami's Arts & Entertainment District

Melo Group Launches Pre-Leasing For Miami Plaza Apartment Tower In Downtown Miami's Arts & Entertainment District

March 17, 2020

Melo Group, one of Downtown Miami’s preeminent real estate development firms, is getting ready to open their latest residential tower addressing two of the city’s most-pressing issues, housing affordability and traffic.

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In Arts + Entertainment Dist, Construction, Construction News, Construction Update, Commercial, Downtown, Multifamily, New Construction, News, Rentals, Residential, Restaurants, Retail, Sales Update, Leasing Tags Melo Group, Downtown, Downtown Miami, News, Sales Update, Martin Melo, Bunbury, Bistro Cafe, Tapout Fitness, My Salon, Spot Barbershop, Shine Nail Salon, New York Roma Pizza, Testa Wines, Art Kitchen, Art Plaza, Melody Tower, Square Station, Miami Plaza, Jose Luis Melo, Carlos Melo, New Construction, Residential, Apartments, Apartment Rentals, Rentals, Construction News, Construction, Construction Update, Leasing Launch, Arts + Entertainment District, Arts + Entertainment Distr, A&E District, Commercial, Retail, Restaurants, Multifamily, Mixed Use
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Terra, New Valley, Great Eagle Holdings and Bizzi & Partners Pay of $155 Million Construction Loan For Eighty Seven Park

Terra, New Valley, Great Eagle Holdings and Bizzi & Partners Pay Off $155 Million Construction Loan For Eighty Seven Park

March 16, 2020

The partners behind Eighty Seven Park, Pritzker Prize winning architect Renzo Piano’s first residential development in the United States, have paid off $155 million in construction financing for the newly-completed Miami Beach condominium tower.

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In Construction News, Construction Update, Construction, Luxury Real Estate, Miami Beach, Finance & Banking, New Construction, News, Residential, Sales Update Tags Terra Group, Terra, New Valley, Great Eagle Holdings, Bizzi & Partners Development, Finance, Financing, Finance & Banking, Construction News, Construction Loan, Construction, Construction Update, News, Banking, United Overseas Bank, 8701 Collins Avenue, North Beach, Miami Beach, New Construction, Renzo Piano, RDAI, Rena Dumas, Luxury Real Estate, David Martin, Residential, Sales Update, Featured
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Missoni Baia Completes Foundation With Second Concrete Pour

March 9, 2020

The second part of Missoni Baia’s foundation was recently completed by joint venture partners Civic Construction and Ant Yapi. Over the course of 17 hours, starting at 3 a.m., 3,900 cubic yards of concrete and 810 tons of rebar (the weight of approximately 65 school buses) was poured. This completed the mat foundation for the project.

In Commercial, Construction, Construction News, Construction Update, Edgewater, Luxury Real Estate, Multifamily, New Construction, Residential Tags Civic Construction, Ant Yapi, Missoni Baia
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Treo Group To Break Ground On Vox Miami, Multifamily Housing Targed At Students

Treo Group To Break Ground On Vox Miami, Multifamily Housing Targed At Students

February 26, 2020

Vox Miami, a multifamily project designed by Perkins and Will and developed by Treo Group, is gearing up to break ground at 5801 S Dixie Highway. The project is targeted at students and is located just a short walk from the South Miami Metrorail Station.

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In Commercial, Construction, Construction News, Construction Update, Multifamily, New Construction, News, Rentals, Residential, Student Housing, South Miami Tags Perkins+Will, Perkins + Will, Vox Miami, Student Housing, Multifamily, Residential, Treo Group, News, New Construction, Construction, Construction News, Construction Update, South Miami, Commercial, Groundbreaking, Rentals, Apartments, Apartment Rentals, 5801 S Dixie Highway
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The Grand Hyatt Selected as Flag for New Miami Beach Convention Center Hotel

February 24, 2020

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.

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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

In City Owned Land, Commercial, Community, Construction, Government Contracts, Hospitality, Hotels, Miami Beach, New Construction, Public Space, South Beach, Travel Tags Grand Hyatt, Hyatt, Convention Center Hotel, Miami Beach Convention Center, Convention Center District, David Martin, Jackie Soffer, Bernardo Fort-Brescia, Arquitectonica, Craig Robins, Dacra, Stonehill Taylor, EOA, ArquitectonicaGeo, Greater Miami Convention & Visitors Bureau, GMCVB, William Talbert, Featured
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