900 Biscayne Bay's condo association has officially filed a formal appeal to Miami's Planning, Zoning & Appeals Board in opposition to Miami Worldcenter's high street retail proposal. World center already has approved plans for an enclosed mall in addition the high street retail plan, which would remain valid should either the Planning, Zoning & Appeals Board or the Miami City Commission revoke the open-air concept. Michael Gongora is representing the association in the appeal. Construction has already begun on various phases of Miami Worldcenter including Block G which will feature Seventh Street Apartments & retail.
Construction to Begin at Miami Worldcenter Block G's Seventh Street Apartments
Miami Worldcenter's master plan is moving along as Block G is ready for construction. Excavation for the foundation is well-underway and piling work began in June. Block G is the future site of Seventh Street Apartments, which will be two rental towers consisting of a 450-unit phase 1 and a 413 unit phase 2. Construction on phase 1 is expected to begin in December 2016. Seventh Street Apartments will be designed by Cohen & Friedman and the complex will feature a full suite of amenities, including a pool deck overlooking downtown, a fitness center, covered garage parking and concierge service. It is targeted at bringing more affordable living to Downtown's Park West neighborhood.
Miami Worldcenter is being developed by CIM Group of Los Angeles and the Falcone Group. Miami Worldcenter will be a $2 billion mixed-use complex which will feature multi-family housing, retail, hospitality, condominiums including Paramount Worldcenter and commercial space. The main draw will be a main street style pedestrian-only shopping promenade which should bring some much needed retail and recreation to the Park West neighborhood of Downtown Miami which has been hot over the past few years and is expecting the completion of One Thousand Museum as well as Miami Worldcenter.
Miami Worldcenter Main Street Retail
Lighthouse Project dubbed Aston Martin Tower
300 Biscayne Boulevard Way's 66-story lighthouse project in Downtown has been dubbed Aston Martin Tower, bringing yet another high-end car brand to Miami real estate. The project is located at the mouth of the Miami river and will feature 390 units which will start at $2 million, equating to prices which will exceed $1,000 SF. Sales will begin in November with a sales center opening in March 2017. The developers plan to break ground by the summer of 2017 and delivery in 2021. The lot was sold for $125 million to the Coto family of Argentina and G and G Business Development, with Aston Martin Tower as the first of several planned projects. The lot sale was record setting for one acre in Miami.
Kirlin Group Brings 4th Lawsuit Against Design Team at the Patricia & Philip Frost Museum of Science
More drama at the construction site of the future Patricia & Philip Frost Museum of Science in Downtown's Museum Park. Kirlin Florida, a subsidiary of Kirlin Group, has joined Suffolk Construction and other contractors having filed suit in Miami-Dade County Circuit County. The suit alleges that design errors by architects and engineers forced the construction companies to backtrack on their work, making progress difficult and running costs. The design team also did not meet deadlines revising construction plans which then delayed the contractors from meeting their deadlines. Kirlin’s suit names Rodriguez and Architects Chartered, Fraga Engineers, Grimshaw Architects and DDA Engineers. The suit does not name the museum, which is a nonprofit and is located on county-owned land. There are three other currently active suits against the museum’s design team including from Suffolk, Baker Concrete Construction and Formrite Construction. The press team for the museum is holding to a December 2016 completion with an early 2017 opening date.
Flagstone Property Group Applies for Modifications to 2007 Approved Plans
Mehmet Bayraktar
Activists continue to press and challenge as Flagstone Property Group, developers of the Island Gardens project on Watson Island, have once again filed for modifications to the 2007 MUSP approved plans. Flagstone is aiming to replace the proposed seven-story parking garage with a two level garage with one level that is below grade. Updated plans were submitted for review on September 19. Island Gardens will feature a superyacht marina that can accommodate up to 550 feet, 2 luxury hotels, condos, and a retail and entertainment promenade with over 221,000 SF of retail and green space. The marina will be the first of its kind in North America and will be able to house of to 50 superyachts matched with full-service amenities for the marina including a clubhouse, on-site customs, etc. Some oppose Flagstone's right to their lease of the land, which was approved pending they would be able to complete the project but doubts have arisen as the property has sat virtually unchanged over the last decade aside from the launch of a sales center and The Deck at Island Gardens. Flagstone Property Group had initially intended to deliver Island Gardens in 2018. Read our initial profile on the Island Gardens project from July 2016.
MDM Submits Revised Plans for Miami World Expo Center Marriott
MDM has submitted revised plans for Miami World Expo Center Marriott set for a mid-October review by the Urban Design Review Board. The developer will redesign the hotel tower from a single curved tower to two separate towers, reduce the tower's height from 54 stories (636' 4") to 53 stories (572' 1"), all together reducing the total hotel units from 1,800 to 1,700. They will also decrease parking from 1,250 spaces to 1,128 spaces. MDM has also proposed to complete the project in two phases starting the initial phase Q1 2017.
Ernst & Young and Regus Sign Leases at Two MiamiCentral
Ernst & Young and Regus have been announced as the anchor tenants at Two MiamiCentral, the new 190,000 SF Office Building in Downtown Miami. Two MiamiCentral is part of Downtonwn's 11-acre MiamiCentral initiative which also includes MiamiCentral Station which is the future home of the Birghtline. 60% of the potential office space at Two MiamiCentral is now leased as Florida East Coast Industries and Moss & Associates will also occupy the building which was designed by Skidmore, Owings & Merrill and will open in 2017. For Ernst & Young, the lease will be 108 months with two 60 month options. Along with an affiliate of All Aboard Florida, they have filed a Memorandum of Office Lease for 23,163 SF of the office space. Rail service will also commence in 2017. Learn more about MiamiCentral Station in our August Construction Update.
Downtown Miami Population is Surging
The population of Downtown Miami has grown by great lengths since 2010, according to a new report by the Miami Downtown Development Authority. Downtown Miami now has 88,540 residents, up over 150% since 2000 and over 32% since 2010. The average household income is more than double the national average, at $110,000 annually and over 50% of residents have a college degree. These numbers are primed to continue to rise as more units hit the market in Downtown including One Thousand Museum, Paramount World Center and the recently delivered Centro. Additionally the MiamiCentral Station and the Brightline will begin opening up Downtown Miami to easier access by train via Orlando, Palm Beach and other Florida metropolitan cities.
New Renderings of Paramount Miami World Center "High Street Retail" Concept
Arthur Falcone's Miami World Center has submitted their plans and applied for a warrant for their "High Street Retail" with Miami's Planning & Zoning Department as part of Downtown Miami's multi-billion dollar mega mixed-use residential and retail project Paramount Miami World Center. It will ultimately be the second-largest mixed-use urban development in the United States and largest in Florida. In 2015 the developers had received a warrant for an indoor mall, but after adjusting plans earlier this year to an outdoor mall concept, they have submitted the revisions. Although the new plans were reviewed and approved by the Urban Design Review Board, the decision on the new warrant cannot be issued prior to October 6. Construction has started on Paramount residential skyscraper as the first phase of the project and will finish as a 1.1 million SF urban mega-center over 27-acres.
Downtown Miami's Bayside Marketplace in For Major Renovation
Bayside Marketplace is ready for a revamp after 30-years as one of the only shopping centers in Downtown Miami. The project will be led by Zyscovich Architects, Ashkenazy Acquisition and General Growth Properties (GGP). GGP sold 49% of Bayside Marketplace in 2014 and Ashkenazy Acquisition took over management of the property earlier this year. Phase 1 of the redesign will include 140,850 SF of public outdoor space. Phase 2 will the result in a 2-level parking garage and added retail space on Biscayne Boulevard. Bayside Marketpalce has over 150 retail and dining/ entertainment tenants and GGP has a $250 million mortgage committed to renovation and expansion of the development. The proposed SkyRise Miami would be located in Bayside if ultimately constructed.
