Midtown Miami is continuing to expand as Magellan Development Group and an entity linked to Alex Vadia has closed on a $110 million construction loan for the proposed rental tower. The project, which is now ready to break ground, will rise 32 stories and was designed by BKL Architecture. Midtown 6 will feature 447 rental apartment units, 601 parking spaces and 40,000 SF of ground floor retail. Magellan also devleoped Midtown 5 which opened earlier this year as well as has proposed Midtown 7.
Triptych Hotel Approved in Midtown
Triptych Hotel has been approved under the Miami 21 Zoning Code after submitting revisions to their original plans and scaling back the project. New plans show the project to rise 20 stories featuring 252 hotel rooms, 300 parking spaces, 38,000 SF of retail and 41,000 SF of office space. The hotel will be operated as a Hilton Curio Hotel. The hotel will be among the first in Midtown and will join HYDE Midtown when completed as the main hospitality options between Midtown and Design District. Triptych Hotel is being developed by HES Group and JQ Group.
PROFILE Exclusive: Hyde Midtown Suites & Residences Tops Off
The Related Group, Dezer Development and Moss & Associates celebrated the topping off of the Hyde Midtown Suites & Residences luxury condo-hotel project in Midtown. The project features 410 luxury residential condos and 60 hotel suites. The 32-story, 480,000 SF building was designed by Arquitectonica with interior design by the Rockwell Group with a total cost around $98 million. Carlos Rosso of Related Group explained that the amenities will be tailored towards millennials and the younger generation. They will feature a Hyde Musice Lounge & Piano Bar, a yet to be announced SBE restaurant, pool terrace with putting green and tennis court, state-of-the-art fitness center and private screening theater. Hyde Midtown Suites & Residences broke ground in September 2015 and is expected to be delivered in October 2017. Photos by TAMZ Photography.
Featured Listing: Penthouse 1 at 4 Midtown Listed for $1.59 Million
A two-story penthouse high above 4 Midtown has hit the market and is listed at $1.59 million. #PH1 is a 2 bedroom, 3 bathroom layout with 2,305 SF of living area including a den. The turnkey unit is fully renovated with Italian floors and imported furniture with the list price accounting to roughly $690 SF, which also makes it the most expensive listing in Midtown. The unit features floor-to-ceiling windows, new kitchen and redesigned bathrooms. 4 Midtown is located right in the heart of Midtown Miami and amenities feature a pool deck with jacuzzi, BBQ area, fitness center, spa and 24 hour concierge. #PH1 is listed with Justin Rubin of The Rubin Group. Photos by The Rubin Group.
Midtown 8 Close to Breaking Ground
Midtown 8 is gearing up to break ground as Midtown is slated to get another residential tower. Wood Partners of Atlanta who is developing the project applied for a demolition permit on October 13 after plans for the development were approved by the city's Planning & Zoning Department in August. Stantec will head up construction. Midtown 8 will be a 390,000 SF development featuring 387 luxury rental apartment units over 28-stories with 30,000 SF of ground-floor retail. Units will range from studio, one-bedroom, two-bedrooms and three-bedroom penthouses. It will also include 519 parking spaces, 27 bike parking spaces, a club house and an amenity deck. They will also build a landscaped linear park and dog park. The project will be built on the 2.03-acre site located at 2901 and 2951 NE 1st Ave. The site has previously served as a recreation area with a concrete slab used to erect tents for Art Basel adjacent to the future sites of Midtown 6 and Midtown 7. Midtown Opportunities Vib LLC, an entity controlled by the developers purchased the site in 2011 for about $6 million.
New Renderings Released of Hyde Midtown
The Related Group and Dezer Development have released new, updated renderings of Hyde Midtown, their 31 story, 372 ft tall residential condo building in Midtown. The new renderings show a putting green, tennis courts, private dog park along a beautifully landscaped pool area. 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 and the project is around 77% sold. Groundbreaking was in late 2015 and completion is expected near the end of 2017. Recent construction update on Midtown Miami.
Magellan Development Releases Plans for Midtown 6 and Midtown 7
Plans for Midtown 6 and 7 have been revealed and Magellan Development looks to expand on their Midtown exposure. Midtown 6 and Midtown 7 will be a pair of 32-story towers located adjacent to Midtown 5 at 3001 ND 3101 NE 1ST Ave. Midtown 6 will feature 447 residential apartment units and 39,718 SF of retail with 601 parking spaces. Midtown 7 features 391 residential apartment units with 30,709 SF of retail and 505 parking spaces. Midtown 6 is expected to break ground in the summer of 2017 while Midtown 7 is on a "wait and see" approach as the developer aims to build and deliver based on demand. The buildings will be designed by BKL Architecture and will be reviewed by Miami's Urban Development Review Board later this month. Magellan is building Midtown 5 next door and is nearing completion.
Hyde Midtown
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
Midtown Overview
What has essentially come the unofficial home of Art Basel, Midtown Miami has rapidly been transformed into a hustling and busting city center. The main Midtown development broke ground in 2005 transforming the FEC rail yard into a clean and safe area for recreation and retail. Midtown Miami continues to undergo massive amounts of construction as the area continues to grow with new buildings and businesses opening everyday.
Midtown Miami is wedged between the Florida East Coast Railway and I-95 and spans from North 29th St. to I-195. The project was originally planned as a large-scale urban development with 8 high-rise residential buildings, a hotel, 2 parks and The Shops at Midtown, consisting of shopping, recreation, dining and entertainment. The project would go on to crash 2 years later with only 2 residential buildings completed, but was reinvigorated in 2011 with plans to complete The Shops and continue with development of residential buildings. The Shops at Midtown are meant to simulate SOHO from New York. Art Basel has made its home right in Midtown Miami with Art Miami and Spectrum amongst other shows attracting visitors to the area from all over the world.
The completed residential buildings have become an attractive option for both buyers and renters alike due to the full-service market the area offers. Midtown currently is one of the few places in Miami where everything you could possibly need is in walking distance from your apartment. The area is also kept extremely safe and clean. Midtown 2 and Midtown 4 have been well received by the market and are very hot buildings to buy or rent. Both buildings take cues from New York's SOHO with a "Miami twist" and the pool decks create a popular urban oasis. Midtown Miami is definitely an area on the rise and worth looking into whether you are looking to buy an investment property, personal property or rent your next apartment.
Top Buildings:
- Midtown 4
- MidBlock
- Midtown 2
- Northblock
New Developments to Watch:
- Hyde Midtown 3
- Midtown 5
- Liner Retail