Construction Update: Biscayne Beach from Two Roads Development & GTIS Partners Receives TCO, Moves Forward With Unit Closings

Construction is finally complete and residents will begin moving in this summer at the highly anticipated Biscayne Beach from Two Roads Development and GTIS Partners in Edgewater. The 52-story luxury condo tower received its initial TCO, Temporary Certificate of Occupancy, and is moving forward with closings. Residents can now take ownership of their units and begin their interior build-outs as they prepare for move-in and the official grand opening over the next few months once Biscayne Beach receives its Final Certificate of Occupancy. Sales initially launched in 2013 and 99% of the 391 units at Biscayne Beach have been sold. Prices ranged from $400,000 up through $9 million. Only 2 premium penthouse residences and 1 beachouse residence currently remain priced from $1.6 million to $9.4 million. Biscayne Beach's interiors were designed by Thom Filicia in his first residential project where he used a "Beach Chic" style throughout. Resort-style amenities include a private members-only Beach Club level overlooking the bay with an elevated sandy beach, private cabanas, zero-entry pool, daytime concierge services, as well as a renowned restaurant and bar, an indoor/outdoor great room with a library and billiards room, an outdoor summer kitchen and lounge area, a state-of-the-art fitness center, as well as a full-service spa complete with a sauna, steam room, blow-dry bar, and massage treatment rooms.

East Edgewater has seen a massive influx of new development as the area has seen a great rise in demand for luxury high-rise living including including the Paraiso District from Related Group and Elysee, which is Two Roads Development's next project with an expected completion in 2019. 

“The launch of Biscayne Beach set the bar for the revitalization of the now-thriving East Edgewater neighborhood, marking a new era for an area that had gone underutilized for years. Miami’s urban core has quickly become a place where people want to work, play and now, live – and we’re excited to be a part of that transformation,” says developer Reid Boren, Managing Partner of Two Roads Development.

Biscayne Beach was developed by a joint venture between South Florida-based real estate developer Two Roads Development and GTIS Partners, a global real estate investment firm headquartered in New York. 
 
“Recognizing Miami’s status as an international city and the special waterfront setting of the Biscayne Beach site, we had a strong conviction that this was the right project for us to invest in and develop. We knew there was demand for luxury condos in East Edgewater because of its central location and proximity to downtown and the beach, but the velocity of the pre-sales we saw at Biscayne Beach exceeded our expectations. We’re proud to say what started with a special location and a vision has now officially become a successful reality,”  says Rob Vahradian, Senior Managing Director of GTIS Partners.

Construction Update: Melo Group’s Aria on the Bay Condominium Tops Off Construction at 53 Stories

Aria on The Bay, one of the most highly anticipated new residential condo towers in Edgewater has topped off construction at 53 stories. The Melo Group has reported the 648 unit building over 80% sold which was designed by Arquitectonica. Aria on the Bay is expected to be completed in Q1 of 2018. The Melo Group has also lowered deposit requirements from 50% to 35% to help close out remaining inventory.

“Since we’ve already closed and covered our loan and construction is moving quickly, we’re able to relax our deposit requirements. We’ve sold 80 percent of our units to buyers from over 42 countries across the globe. Lowering deposit requirements is an incentive to attract more local and domestic buyers and sell out our remaining units in advance of the building’s delivery early next year,” said Carlos Melo, principal of the Melo Group. 

Units at Aria on the Bay range from 1 to 4 bedrooms and $400K to $6 million and sold around $550 per square foot. Residences feature floor-to-ceiling glass, expansive wrap-around terraces, private elevator access, open-plan living areas, designer finishes and fixtures, European-style kitchens, and modern custom-designed cabinetry. Amenities include a 14th floor resort amenity deck with 2 sunrise/sunset swimming pools, a jacuzzi, custom-seated fire pits, barbecue grills and outdoor summer kitchens, a private spa with massage treatment facilities, a state-of-the-art fitness center, yoga studio, entertainment lounge, and a screening room. Check-out our October 2016 Construction Update here. 

Construction Update: Brickell Flatiron Passes 6th Level, On Track for Top-Off in Late 2018

The 64-story Brickell Flatiron from Ugo Colombo's CMC Group is starting to take form as downtown Brickell continues to evolve into a modern, waterfront metropolis. Construction on Brickell Flatiron is being headed up by Moss & Associates who have reached passed the building's 6th floor and expect to reach the 17th floor by the end of 2017. The 736 foot building is expected to top-off in late 2018 and features a distinct, iconic Flatiron shape that was designed by architect Luis Revuelta and interior architect Massimo Iosa Ghini of Italy’s Iosa Ghini Associati.

Brickell Flatiron features 549-unit luxury condominiums with units ranging from 1 to 5 bedrooms starting at $500,000 and ranging up to $15.5 million for penthouses. All units will be adorned with the finest finishes, including Italian-made custom cabinets, stainless steel appliances, Italian marble floors, high ceilings with recessed lighting, custom Italian doors, energy-efficient windows, and glass balcony railings. Brickell Flatiron's amenities include an 18th floor amenity deck with a resort style pool, 24-hour concierge, billiard and cigar room, wine cellar, valet, electric car charging stations and a 64th-floor rooftop that will feature a Sky Spa, Sky Pool and Sky Gym along with stunning 360 views of Biscayne Bay, Brickell, Downtown Miami, Coral Gables, etc. Read about CMC Group closing on their a $236 million construction loan for Brickell Flatiron in April. 

Construction Update: One Thousand Museum Passes Halfway Point, On Track for 2018 Completion

One Thousand Museum by Zaha Hadid Architects, has passed the halfway point for the 62-story building which is on track for delivery in 2018. The building will be Zaha Hadid's first residential skyscraper in the western hemisphere and is being developed by Louis Birdman, Gregg Covin, Kevin Venger and the Regalia Group with Plaza Construction as the general contractor. The tower will be among the tallest residential buildings in Miami and required a deep foundation that drilled to a record of over 170'. One Thousand Museum's design features an exoskeleton design which acts as the buildings structural support. This allows the developer to remove columns from the units, creating expansive glass views of Biscayne Bay. 

One Thousand Museum is over 50% sold and required over a $450 million buildout. The tower will feature only 83 units ranging from $5.5 million to over $20 million and 4,600 SF to over 10,000 SF. Amenities will include Miami's only private rooftop helipad, state-of-the-art fitness center, spa, two pools, indoor aquatic center, and a sky lounge.

Check-out our coverage of One Thousand Museum closing on their $225 million construction loan in December. 

Construction Update: Panorama Tower Passes Four Seasons Miami, Becomes Tallest Building in Florida

Panorama Tower from Tibor Hollo's Florida East Coast Realty has passed The Four Seasons Miami as the tallest building in both Miami and in the state of Florida. Construction has passed the 85th floor. Top-off will be around 843 feet, 868 with the antenna. The Four Seasons Miami is 789 feet. Construction costs for Panorama Tower are expected to be around $800 million and it will have a total gross floor area around 2,600,000. The building includes 821 residential apartment units, a 208-room Hyatt Centric hotel, resort style pool deck, a pet daycare, wine room, private dining room, three movie theaters, electric car-charging stations, 50,000 square feet of high-end retail space, and 100,000 square feet of office/ medical space. Panorama Tower was designed by Moshe Cosicher and the interior design concept is by Zyscovich Architects.  

March Construction Update from Coral Gable's Merrick Manor

Construction on Astor Companies' Merrick Manor is now cruising at 301 Altara Avenue behind Merrick Park in Coral Gables. The 227-unit condo building will rise 10-stories and was designed by Behar Font & Partners with interiors by Steven G. Units come in one to five bedroom floor plans and start around $500,000, ranging up to $3 million. They will feature custom wood doors, spacious terraces and gourmet kitchens with white quartz waterfall island and countertops and Bosch and Duravit appliances. Merrick Manor will feature resort style amenities including pool, state-of-the-art gym, 24-hour valet, 24-hour concierge, business center and 19,000 SF of ground-floor retail. Merrick Manor is currently around 50% under contract and completion is expected in 2019. Check out their construction update video below.

Sweetbird South Design District Construction Update

Construction is cruising at the Sweetbird South retail project by Miami Design District Associates located at 99 NE 39th Street. The structure appears to already have second floor supports and has already topped off at parts. When completed Sweetbird South will be a two-stories with 27,834 SF of retail and commercial space. The project was designed by Norwegian architects Reiulf Ramstad Arkitekter with Stantec as the architect on site and on record.

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Aria on The Bay Construction Update

Aria on the Bay continues to rise on North Bayshore Drive in Edgewater. Aria is being developed by The Melo Group and is designed by Arquitectonica with a scheduled 2016 opening. Itwill be a 50 story tower with 647 residential units and 40,000 sq ft of retail, commercial and office space on the first few floors. Residences range in size from 815 sq ft to 2,365 sq ft with large outdoor balconies. Residences also have 9 foot glass floor to ceiling. Lines on the east side of the building will have private elevators. There will be breathtaking views of Biscayne Bay and Downtown Miami with easy access to Miami Beach via MaCarthur Causeway, Julia Tuttle Causeway, Venetian Causeway as well as close proximity to Wynwood, Downtown and Brickell. Pre-construction prices range from $380K to $1.5 million.

Midtown Miami Construction Update September 2016

Hyde Midtown

The construction in Midtown in cruising along with both Related Group's Hyde Midtown and Magellan Development's Midtown 5 making major progress towards completion. Midtown 5 leads the two, and has topped off and has glass paneling on the sides already. The 24 story, mixed-use building will feature 400 residential rental units. It will ultimately have over 52,000 SF of indoor and outdoor amenities. They market the project as a "live, work, play community."

The 31 story, 372 ft tall Hyde Midtown is beginning to get the initial makings of an outer-shell. Designed by Arquitectonica, the residence will feature about 337 condo units and 60 hotel units. The hotel portion of the project will be managed by SBE, who continue to extend their exposure in Miami to Midtown. There will also be 21,745 SF of retail space and 526 parking spaces. Pricing was around $550 SF. Groundbreaking was in late 2015 and completion is expected near the end of 2017. 

Hyde Midtown Construction Update September 1, 2016

Midtown 5

Midtown 5 Construction Update September 1, 2016

Midtown 5 Construction Update September 1, 2016

MiamiCentral Station & Brightline Construction Update

Construction is progressing at the Downtown Miami site of the future MiamiCentral Station, which is part of the railway initiative to connect Forida's metropolitan cities. MiamiCentral Station will service both the Tri-Rail and Brightline train paths. The Next Miami has reported that All Aboard Florida is on track to begin Tri-Rail service soon and Brightline passenger train service between Miami and West Palm Beach at some point in 2017. 

Photo via Phillip Pessar and The Next Miami

The Brightline will travel at speeds of up to 125 mph by train between Miami and Orlando, connecting the Eastern coast of the state of Florida like never before. The $2.5 billion, privately funded Brightline will soon provide easy access for residents of South Florida to Miami, Ft. Lauderdale, West Palm Beach and Orlando.  All three South Florida stations are currently under construction as this project inches closer to reality. 

The Brightline will feature everything that the modern traveler needs, including free Wi-Fi and charging stations at the seats. There will also be food and beverage service aboard. There will also be designated pet areas and three ticket options at all different budgets and privacy allotments. As opposed to the standard steel cars that have moved people for over a century, Brightline will feature a Floridian spin, with passenger cars being an artistic pink, red, orange, green or blue. Designer David Rockwell has said that he wants to keep the train cars and station design transparent and welcoming, which led to the moniker "Brightline." Matched with the massive amounts of development going on in South Florida, the Brightline should further help connect the people and economies in South East Florida.