Magellan Launches Leasing of Gio Midtown Apartments

Chicago-based Magellan Development Group, investor Alex Vadia and J.P. Morgan Asset Management have launched pre-leasing of their 447 apartment rentals in the nearly-completed Gio Midtown. The building is slated for competition mid quarter and will feature units ranging from 386 to 1,919 square feet. A studio will start at about $1,585 a month, one-bedroom at $1,775 a month, two-bedroom at $2,775 a month, and a three-bedroom at $3,790 a month.

The apartments feature luxury finishes like quartz countertops, kitchen islands, keyless entry, blackout shades, and sprawling terraces to promote natural light and expansive city views. Wellness enthusiasts have access to a 4,741-square-foot fitness club, a spa which includes a Himalayan salt room, sauna and steam rooms, and a meditation garden on the amenities floor.

Residents will enjoy high-touch concierge services and access to everyday conveniences. Bozzuto is managing the property.

Inspired by Italian Modernism, the project’s namesake derives from Italy’s Gio Ponti, an influential figure recognized for his architecture, furniture and object design. Celebrating Ponti’s elegant aesthetic, the façade highlights geometric, angled balconies. The building was designed by bKL Architecture LLC with contemporary interiors by Fanny Haim & Associates.

Eco-friendly renters will appreciate a bike workshop and wash station, as well as electric car chargers. A passageway at the ground level allows for meandering by locals and residents alike, with planned retail, restaurants, and activations. 

By Stephanie Warren

Midtown Continues to Expand as Magellan Development Closes on $110 Million Construction Loan for Midtown 6

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.