Genting & Resorts World Submit Proposal to Redevelop Omni Transit Terminal with Hotel

New details are emerging of the Genting and Resorts World proposal to redevelop the Omni transit terminal and add a new hotel to the property. The redevelopment will feature a 300-room hotel designed by Arquitectonica, with 162,000 SF of hotel and 229,800 SF of residential condominiums. Resorts World will add a Grand Public Plaza to the property. The project will integrate the historic, currently under-renovation Boulevard Shops, the redevelopment of the Omni Mall as Resorts World and Crystal Cruises' headquarters, as well as the future mixed-use project on the former Miami Herald lot which will feature 2 residential towers, a hotel tower, retail, food and dining, entertainment and an 800-foot baywalk. 

Kar Properties' One River Point Launches $3.5 Million Sales Gallery

Over 600 of Miami’s real estate industry leaders enjoyed a curated experience on the Miami River on Wednesday, March 15 in celebration of the debut of One River Point’s new $3.5 million sales gallery. New York developer Shahab Karmely and his brand Kar Properties's One River Point sales gallery premiere showcased One River Point’s commitment to bringing ultra-luxury living to the Miami riverfront. One River Point will be designed by internationally acclaimed architect Rafael Viñoly and its stunning sales gallery reflects Karmely’s desire to introduce world-class architecture, international design, and luxe resort-like amenities to urban waterfront living in the heart of Miami. The 5,000 square foot sales gallery features exquisite displays of the kitchen, library, and master-suite bathroom, complete with walk-in shower and free-floating tub, all thoughtfully laid out in an unparalleled, art gallery-like setting. Guests received a preview of the exceptional finishes such as honed stone flooring and onyx accent walls that have been selected for the designer finished residences. Designer quality craftsmanship and meticulous attention to the finest detail are evident throughout featuring finishes and appliances by B&B Italia, Gaggenau, Arclinea and Flos, as well as a full presentation of the material palettes, state of the art technology, and an integrative site plan within the riverfront park. 

One River Point will feature approximately 380 bespoke residences, ceiling heights of 10 to 12 feet, expansive open layouts with floor-to-ceiling sliding glass walls, honed stone flooring, full slab onyx accent walls, designated art walls with task lighting, state of the art technology, as well as biometric security with face recognition. Additionally, the project will include 12-foot deep glass enclosed outdoor living terraces with sweeping vistas of the Miami River, Biscayne Bay and the city skyline. Residences at One River Point will range from approximately 1,000 to 12,000 square feet. One River Point will also include sky lofts and sky villas as well as state of the art technology plus biometric security, including face recognition. Set within One River Point’s piece de résistance, a three-story, floating sky bridge will connect the two towers on the top floors where the 50,000 SF Sky Club will be located.

“The compelling success of the initial sales process is a true testament to One River Point’s role in redefining luxury living in Miami’s urban core. We have a lot of excited guests here and reason to celebrate,” said Shahab Karmely, CEO of Kar Properties. KAR has made a significant entry into the Miami market with acquisitions and investments in excess of $200 million in established and emerging neighborhoods.

Among the many unique features in One River Point’s distinct sales gallery is the advanced audio-visual interactive platform, allowing buyers to experience in dazzling 3-D reality the designs of the extraordinary residences. The idea is for the buyer to go through a fully curated, progressive journey of the One River Point story, incorporating elements drawn from museum and gallery exhibits. Utilizing oculus rift virtual reality systems, interactive models, and floor plans as well as physical displays of materials, palettes, bathrooms, kitchens, and furniture, all combined to fully immerse the buyer in an experience unlike any other. The sales gallery for One River Point is located at 90 SW 3rd Street, just steps from the Brickell financial district and Brickell City Centre.

Art Dealer Gary Nader Still Set on Bringing Museum & Condos to 520 Biscayne

The drama at 520 Biscayne continues as art dealer Gary Nader told The Next Miami that he will be pressing forward in his quest to develop he waterfront, Downtown property into a mixed-use cultural center with a museum and condos. The development would include The Latin American Art Museum, which would house close to 1,000 pieces by Latin American artists including Roberto Matta, Rufino Tamayo and Fernando Botero. 520 Biscayne would also include a five-star hotel and two residential towers with 300-units each. The residences would be designed for art collectors, with strategically placed walls and windows to showcase art in addition to 12-foot ceilings and will range from $2 million to $25 million. Last year his unsolicited bid via his firm Nader + Museu, LLP. was passed over in favor of a bid by Related Group by the Miami-Dade College Board of Trustees, who owns the land. In October 2016, the MDC Board of Trustees officially rejected all bids to develop the property, leading to Related Group to file a formal protest with a settlement, which the Board of Trustees also rejected. In January 2017, it was announced that Related Group had officially withdrew their protest. Related Group's withdrawal has given Nader the opportunity to continue pursuing the rights to develop the property. 

Miami Downtown Development Authority Study Concludes It Will Be "Unprecedented" to Find a Downtown Condo for Under $750,000 in 2025

A study by the Miami Downtown Development Authority concluded that it will be "unprecedented" to be able to find a condo in Downtown Miami for under $750,000 in 2025. The study found that the market reached an equilibrium in 2016, with new construction and supply matching an increasing demand for Downtown Miami. Although the Miami condo market has seen a softening and has entered into being in a state of being a "buyer's market," prices have remained somewhat stable and can even hint at trailing up in certain areas. That said, the resale market regressed 7%, seeing a drop after five years of gains above 10%. In Downtown, 2,202 condos were delivered in 2016, another 3,456 condos in 2017, 2,846 in 2018 and 1,960 in 2019.

Developers at Skyrise Request Approval to Build Skyway, Rotating Viewing Pod Attraction

Skyrise, the entertainment mecca to be built in Downtown's Bayfront, has filed to add Skyway to the approved, proposed structure. Skyway would be skyrise's signature attraction, a 20-pod rotating, "modern ferris-wheel," experienced through viewing capsules. There would be 2 revolutions per hour and the pods would rise to a maximum, approved height of 1,049 ft. Plans for Skyway were designed by Arquitectonica and are currently under review.

Patricia & Phillip Frost Museum of Science to Finally Open May 8

The years of waiting and watching are beginning to come to end at Miami's Museum Park as the Patricia and Phillip Frost Museum of Science has finally announced an opening date of May 8. The museum will be the second museum delivered following the Pérez Art Museum Miami (PAMM) which has been received by the public as a major hit and help complete the cultural and art initiatives in Miami's Arts and Entertainment district which also includes the Adrienne Arsht Center for the Performing Arts and YoungArts.

The Frost Museum of Science has been a 5 year project, began construction in 2012 and has overcome many obstacles and roadblocks along the way including a $350 million price tag. Phillip and Patricia Frost had to help cover the rest of the cost of the construction after fundraising efforts failed to raise the necessary funds, missing the expected 2016 completion date. The Frost Museum of Science was designed by Grimshaw Architects, sits on 4 acres and features 4 different buildings in one, divided based on their field of study. There will be a planetarium, aquarium and feature 2 exhibit wings spread over 250,000 SF. The planetarium is 1-of-8 in the world featuring 8K resolution in 3D along with seating for 250 people. The museum claims on its website that it will take guests on a "journey from the ocean to the Everglades, from the human cell to outer space, investigating life as we know it." The building is working toward LEED Gold certification as part of their initiative to create a better planet. Tickets for the May 8 opening day are available on the museum's website.

Tibor Hollo to Break Ground on 92-Story One Bayfront Plaza in January 2019

Tibor Hollo's Florida East Coast Realty expects to break ground on the 1,049 foot, 92-story One Bayfront Plaza in January 2019 with completion is expected at some point in mid to late 2022. The 1,049 foot design by architectual firm Kohn Pedersen Fox will maximize the height approved by the FAA. One Bayfront Plaza will feature 902 apartments, 200 hotel rooms, 532,000 SF of Class A Office Space, 103,959 SF of retail, pedestrian bridge to the metromover and 1,055 parking spaces. The residences and hotel will feature a sky recreation deck which will have 2 pools, one being for residents and one for hotel guests. There will also be another amenity deck on the 40th floor. Check out our coverage of One Bayfront Plaza's New Renderings, new plan submission, and application to the FAA to increase height.

Resorts World Applies to Renovate The Omni into Office Space & Boulevard Shops Update

Change may finally be coming to the vacant Omni Mall in Edgewater at 500 Biscayne Boulevard as Resorts World Omni, LLC has applied for a construction permit to renovate 24,550 SF into office space. Blufin Construction is the contractor on record for their application. Currently both Resorts World Bimini and Crystal Cruises use 500 Biscayne Boulevard as their headquarter address. Crystal Cruises last year leased 40,000 SF of office space in the Omni Building, adjacent to their Boulevard Shops sales center. Resorts World Bimini and Crystal Cruises are owned by Genting Group, a Malaysian conglomerate that has business interests in leisure, hospitality, plantations, properties, power generation, oil and gas, e-commerce, information technology and biotechnology.

Last year Crystal Cruises began reconstruction of The Boulevard Shops on an adjacent lot at 1401 Biscayne Boulevard. Their plan was unveiled at the 2016 Fort Lauderdale SeaTrade show for the Boulevard Shops project for Crystal Cruises which will include a renovation and expansion of the historic building to offer a cafe and bistro with indoor and outdoor seating, cigar bar and sales center for Crystal Residences. Crystal Residences will be onboard condos featured on 2 of their cruise ships. The renovation of The Boulevard Shops is being designed by architect Richard Heisenbottle. 

Featured Listing: Ten Museum Park 4205

There is just no where else you can enjoy a private sky-high pool right in the middle of Downtown Miami. Ten Museum Park 4205 is a modern and massive bachelor pad. 3 bedrooms and 3 bathrooms spread over 2,581 SF and 3 floors. The unit is finished with modern glass throughout to allow views of Biscayne Bay, Downtown Miami, Brickell, Coconut Grove and Coral Gables. The main living room features 20 foot ceilings with full glass for sunset views to create the perfect place for entertaining. High-end finishes and upgraded lighting throughout. The kitchen and bathrooms are finished with European fixtures and high-end appliances from Sub Zero, Bosch and Duravit. Private rooftop pool on the 44th floor for an urban oasis finished with Bisazza tile. Ten Museum Park is an ultra-luxury, full-service building in Miami's booming Park West neighborhood. The building features a full-service spa, gym and pool deck and is right across the street from Museum Park, the Perez Art Musuem and Frost Science Museum. Currently listed with Darin Feldman of Insignia International Properties for $1,560,000. 

Miami Innovation District Coming to Park West

The Miami Innovation District, a proposed tech hub, is one step closer to coming to Miami after land in Park West controlled by Michael Simkins' Innovate Development Group was cleared. Innovate Development Group purchased the land in 2014 for $54 million. Details and renderings of the proposed project were leaked in June, showing a 10 acre development including 3,850,000 SF of office space, 2,400,000 SF of residential units, 250,000 SF of retail space, and 2,500 parking spaces. Residential units would include 300 SF "micro-apartments" for the young, working class. There will also be an amenity area called the "Cloud Level" which will include classrooms, daycare, tech support, exhibition spaces, as well as landscaped green space and connection to different towers that are part of the complex. Part of the original proposal, a 633-foot LCD tower, has seen great pushback. Miami Innovation District will be designed by SHoP Architects, who designed the Barclays Center in Brooklyn as well as for Google and Uber. Miami Innovation District is expected to bring 700 permanent jobs and the project will contribute $5 million to the South East Overtown/ Park West CRA and 3% of annual sales or $1 million per year.