Tag Archives: Construction

YAKOL Capital Miami

Redefining Attainable Luxury in Miami by YAKOL Capital

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237 N.E. 54th Street, Miami, FL

In a bold move to redefine urban living, YAKOL Capital is teaming up with acclaimed Japanese architect Shigeru Ban to bring an innovative “attainable” condo development to Miami-Dade County. Aptly named House, this 320-unit project aims to strike a balance between luxury and accessibility, with residences priced at approximately $1,100 per square foot. The smallest units will start in the low $300,000s, making this project an attractive opportunity for first-time buyers, investors, and those seeking high-quality living spaces at competitive prices.

Construction for House is set to begin in 2026, and the development offers a significant incentive for international investors. Through the EB-5 visa program, investors can secure a pathway to U.S. residency while supporting a transformative project in a burgeoning market.

House’s strategic focus goes beyond just real estate. By prioritizing sustainability and well-being, the development is set to feature a “biophilic” design that fosters a deep connection between residents and nature. This design philosophy aligns seamlessly with Shigeru Ban’s reputation for creating structures that harmonize with the environment.

House’s biophilic design will incorporate elements like natural light, green spaces, and sustainable materials to enhance the living experience. By embracing this approach, YAKOL Capital is not only investing in the aesthetics of the building but also in the mental and physical well-being of its future residents.

The site for House, located at 237 N.E. 54th Street, Miami, FL, 33137, spans 1.16 acres and was acquired in 2023 by Toussaint Ateliers Residences for $6.57 million. Currently occupied by a low-rise, multi-family dwelling built in 1965, the property’s redevelopment will transform it into a landmark in Miami-Dade County.

The site’s T5-O zoning designation and its position in a Qualified Opportunity Zone offer additional financial incentives for investors and developers. Google Earth renderings highlight the property’s potential to become a thriving residential hub, perfectly aligned with the neighborhood’s growth trajectory.

House is just one of YAKOL Capital’s ambitious ventures in South Florida. The developer is also planning a mixed-use project featuring 700,000 square feet of new construction, blending residences with ground-floor retail. Collaborating with Netherlands-based architectural firm MVRDV, YAKOL Capital continues to push the boundaries of innovative, community-focused design.

House is poised to redefine attainable luxury in Miami-Dade County. With its biophilic design, sustainable approach, and strategic location, it represents a forward-thinking model for urban living. Coupled with its potential to attract global investors through the EB-5 visa program, this project highlights YAKOL Capital’s commitment to creating transformative spaces that benefit both residents and the community at large.

Gale Hotel & Residences

Casa Gianna Brings Vibrant Italian Dining to Gale Miami Hotel & Residences

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Casa Gianna at Gale Hotel & Residences

Downtown Miami’s culinary scene is about to get a flavorful upgrade with the arrival of Casa Gianna, an exciting new Italian dining concept opening at the newly launched Gale Miami Hotel & Residences. Officially debuted on November 18th, 2024, Casa Gianna promises a welcoming and authentic experience, seamlessly transitioning from a cozy café vibe in the morning to a lively dining destination by evening.

Developed in collaboration with the renowned global hospitality brand Zouk Group, Casa Gianna is poised to become a must-visit for both locals and visitors. Russell Galbut, Owner Representative of Gale Miami Hotel & Residences, highlights the significance of the restaurant’s launch.

“Casa Gianna sets Gale Miami apart as a key destination, especially with our proximity to the Miami Worldcenter. Working with Zouk Group has been instrumental in shaping Casa Gianna, which is just the beginning of our vision for the property’s culinary offerings.”

At the heart of Casa Gianna is Executive Chef David Caceres, whose innovative approach combines the rich tradition of Italian cuisine with a modern twist. The menu promises to be a gastronomic delight, featuring standout dishes like:

  • Pappardelle Alla Rosa De Ricotta: A comforting dish with brown butter sage.
  • Crusted Pistachio Chilean Seabass: Paired with a flavorful tomato puttanesca sauce.
  • Artisanal Pizzas: Handcrafted in a custom Wood & Stone pizza oven, with highlights including the indulgent Ai Funghi e Tartufata pizza.

For diners with dietary preferences, Casa Gianna ensures inclusivity with gluten-free and vegetarian options. Casa Gianna’s opening further elevates the Gale Miami Hotel & Residences as a premier destination within Downtown Miami’s burgeoning Miami Worldcenter district. Whether you’re seeking a morning espresso, a business lunch, or a vibrant dinner spot, Casa Gianna is set to offer an unparalleled dining experience that captures the essence of Italy in every bite.

Miami Freedom Park

The Future of Inter Miami: Miami Freedom Park

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Miami Freedom Park

As the anticipation builds for the 2026 MLS season, soccer fans in Miami have a lot to look forward to with the upcoming opening of Miami Freedom Park, the new home of Inter Miami CF. While the stadium is still under construction, the project received a significant boost from the State of Florida, further solidifying its importance to the local community and beyond.

Governor Ron DeSantis made headlines recently with an announcement at Inter Miami’s temporary home, Chase Stadium in Fort Lauderdale. The governor revealed that the State of Florida would be granting $8 million to Miami-Dade County to support infrastructure improvements around the new stadium site. This funding is earmarked specifically for constructing roadways that will alleviate traffic congestion, an essential consideration given the stadium’s proximity to Miami International Airport.

The governor’s remarks highlight the state’s strategic approach to supporting large-scale projects like Miami Freedom Park. While direct funding for the stadium’s construction isn’t on the table, the investment in infrastructure underscores the state’s commitment to ensuring the success of such ventures.

Miami Freedom Park isn’t just about soccer; it’s a vision for a multifaceted community space that includes a 26,700-seat stadium, a 58-acre park, hotels, offices, retail, and entertainment venues. Inter Miami managing owner Jorge Mas emphasized this broader vision during the announcement, calling the project “transformational” for Miami.

The project is set to create over 13,000 direct and indirect jobs and generate more than $40 million in tax revenue for state and local governments. In addition to the stadium, the project promises to deliver the largest park in the City of Miami, offering a significant recreational space for residents.

The journey to Miami Freedom Park has been a long and challenging one for the Mas brothers and co-owner David Beckham. After years of political hurdles and delays, the City of Miami finally approved the $1 billion project in April 2022. The stadium is being built on the site of the former Melreese Golf Course, a location that will soon transform into a vibrant hub for sports and entertainment.

Inter Miami CF has already made waves in the soccer world, especially with the signing of Argentine superstar Lionel Messi. The arrival of Messi, along with other top talents like Sergio Busquets and Jordi Alba, has catapulted the team into the global spotlight, raising expectations for what lies ahead.

Governor DeSantis acknowledged the impact of these signings, noting, “What we’ve seen in soccer in South Florida has been incredible, especially when they brought Messi on. That was like the biggest thing ever, having a global superstar like that right here is a really big deal for our community.”

As Miami Freedom Park nears completion, the excitement continues to build. With its opening scheduled for the 2026 MLS season, the stadium will not only serve as the new home for Inter Miami but also as a key venue for the 2026 World Cup, which the United States will co-host. The future looks bright for soccer in Miami, and Miami Freedom Park is set to be at the heart of it all, driving both the sport and the local economy to new heights.

M-Tower in Miami

M-Tower’s Expansion: Meeting Miami’s Rising Residential Demand

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M-Tower in Miami

Miami Dade’s Water and Sewer Department has recently agreed to provide utilities for additional units beyond what was initially planned for M-Tower, a 57-story residential building situated at 56 Southwest 1st Street in downtown Miami. This revision reflects a growing demand for residential space in the heart of Miami, and the project aligns with the city’s vision for urban development.

In early July, a revised utility agreement was recorded, now stating that the M-Tower development will encompass 765 apartments, 4,708 square feet of retail space, and 5,000 square feet for a full-service restaurant. This is a notable increase from the previously planned 675 apartments, adding 90 more units to the development.

This increase in density highlights the growing demand for residential spaces in downtown Miami. The city’s vision for urban development is further realized through such projects, encouraging more people to live in the city center and fostering a vibrant urban community.

M-Tower is being developed by Lions Group NYC and Fortis Design + Build, operating under Downtown 1st St LLC. The tower, designed by Nichols Architects, will rise 57 stories across the sites at 56 and 70 Southwest 1st Street, near Miami’s Government Center. The project also involves Naturalficial as the landscape architect and Kimley-Horn as the civil engineer.

A key feature of M-Tower is its public parking garage, which will offer nearly 700 spaces, alongside commercial and retail spaces at the ground floor level. The building’s design and amenities aim to enhance the overall streetscape and living experience for residents.

The residential units within M-Tower will offer a mix of studio, one-bedroom, and two-bedroom apartments. The ninth floor is set to host an array of amenities, including a landscaped outdoor deck featuring two pools. Additionally, the project will incorporate integrated art murals for the eight-story parking garage, selected by the Miami Parking Authority, adding a cultural touch to the structure.

The Federal Aviation Administration (FAA) approved permits for M-Tower in early July, allowing the building to reach 605 feet above ground or 615 feet above mean sea level. These permits, approved on July 2, 2024, are valid until January 1, 2026.

Total demolition permits have already been approved and issued for the sites at 56 and 70 Southwest 1st Street. The BG Group LLC is listed as the contractor for this demolition work, estimated to cost approximately $505,000. The site previously housed a 56-year-old municipal parking garage, which will be demolished to make way for the new development.

The expansion of M-Tower marks a significant step in addressing Miami’s growing residential needs. With its modern design, strategic location, and comprehensive amenities, M-Tower is set to become a landmark in downtown Miami’s urban landscape. This project not only caters to the increasing demand for residential units but also contributes to the city’s vision of a dynamic and integrated urban community.

Watson Harbour Promenade

Shaping the Future of Watson Island-Miami Voters to Decide on Watson Harbour Project

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Watson Harbour Promenade

Miami residents will now be able to cast their votes on the approval of the Watson Harbour project, a new mixed-use development proposed for the south side of Watson Island. This ambitious project, set to enhance one of South Florida’s prime waterfront areas, includes plans for hotels, retail outlets, offices, residences, dining options, and expansive public spaces, all strategically located on Biscayne Bay between Downtown Miami and Miami Beach.

The developers, BH3 Management and Merrimac Ventures, acquired the 10.8-acre site at 888 Macarthur Causeway in 2023. They have developed a privately funded proposal to revitalize the area, featuring:

  • Two luxury hotels
  • Retail spaces for shopping and dining
  • Office buildings and residential units
  • A 2.2-acre public promenade along Biscayne Bay
  • Green spaces and a maritime museum
  • Infrastructure and resiliency upgrades

The project is expected to generate substantial economic benefits, including several million dollars in additional tax revenue for Miami. It also promises a wide range of community benefits, such as:

  • Employment opportunities for residents from underserved communities
  • Retail spaces allocated for nonprofit organizations
  • Infrastructure improvements on City-owned properties
  • A $9 million contribution towards affordable housing and public infrastructure

Watson Harbour will include several sustainability measures to protect and enhance the local environment, such as:

  • A seawall built above base flood elevation standards
  • Planting of native flora and expansion of the tree canopy
  • Energy-efficient LED and solar-powered lighting
  • An on-site stormwater management system designed to prevent pollution of Biscayne Bay

Greg Freedman and Daniel Lebensohn, Co-CEOs of BH3 Management, shared their excitement: “Watson Island is poised to become a vibrant destination for all, boosting Miami’s economy and offering a new gathering spot for the community. We’re honored to bring this vision to life and integrate Watson Harbour into the city’s fabric.”

Nitin Motwani and Dev Motwani, co-Managing Partners at Merrimac Ventures, emphasized the project’s focus on public spaces: “As Downtown Miami grows, the need for additional public spaces is clear. Our waterfront promenade will provide a beautiful new area for the community to enjoy. This project offers a chance to create a valuable asset for Miami, enhancing its resilience and appeal.”

The proposal will be presented to voters during the 2024 General Election on November 5, with Early Voting starting in October. The ballot question will ask voters to approve amendments to the City Charter, including the sale of 3.2 acres of leased property at fair market value, reduction of overall development, and authorization of the project with no cost to the city.

1 Southside Park Brickell

1 Southside Park Brickell- Revised Plans Unveiled

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1 Southside Park Brickell

The skyline of Brickell is set to receive a significant addition with the ongoing construction of the 1 Southside Park project. The developer behind this massive undertaking has recently submitted revised plans and renderings to the county, showcasing a range of adjustments aimed at enhancing the project’s functionality and aesthetic appeal.

1 Southside Park is a mixed-use development that promises to redefine urban living in Brickell. Among its many components is the residential segment known as Mercedes Benz Places, which is already making strides with a recent foundation pour marking the progress of its first phase.

The revised plans introduce several notable changes:

  1. Increase in Open Space: The updated design incorporates more open space, providing residents and visitors with ample areas to enjoy outdoor activities and relaxation.
  2. Increase in Lot Coverage: There is a slight increase in lot coverage by 6%, optimizing the use of available land.
  3. Reduction in Residential Units: The number of residential units has been reduced by 185, bringing the total to 1,010 units, a 15% decrease.
  4. Reduction in Office Space: The office area has been trimmed down by 11,930 square feet, resulting in a 7% decrease.
  5. Increase in Commercial Space: Commercial space has seen a significant boost, with an addition of 26,129 square feet, representing a 23% increase.
  6. Larger Fire Station: The project now includes a larger fire station to better serve the community.
  7. Overall Reduction in Floor Area: The total floor area has been reduced by 43,453 square feet, making the design more efficient and streamlined.

The newly revised plans outline a structure that will rise to an impressive 61 stories, with a total of 64 levels and a roof height of 780 feet above sea level. Here are the detailed specifications:

  • Hotel Units: 200 units (no change in unit count, but a reduction in square footage)
  • Commercial Space: 142,129 square feet (+23%)
  • Office Space: 153,070 square feet (-7%)
  • Residential Units: 1,010 units (-15%)
  • Parking Spaces: 881 spaces (-12%)
  • Governmental Space: 38,582 square feet (+21%)

The ambitious 1 Southside Park project is being developed by JDS Development Group, a company known for its innovative approach and commitment to excellence. The architectural brilliance of the project is being spearheaded by ODP Architects, who serve as the architect of record.

SoWy in Wynwood

More Development Secures $76.81 Million Loan for SoWy: A Vibrant, Sustainable Mixed-Use Project in Miami

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SoWy in Wynwood

An international real estate company based in Miami and Nassau, Bahamas, More Development, has secured a significant $76.81 million loan for their latest venture, SoWy. This upcoming mixed-use development is set to transform the Wynwood and Overtown areas, situated north of Downtown Miami. The loan was announced by More Development President Whitney Thier and was provided by JP Morgan Chase.

The SoWy project spans nearly eight acres and includes 26 parcels across six blocks along 2nd Avenue, between NW 20th and 22nd Street. The site offers nearly 2.5 million base buildable square feet, even before considering the provisions of the Live Local Act. Initial plans for SoWy feature flexible and adaptable multi-use indoor and outdoor spaces, all housed within site-specific architectural buildings.

A key aspect of the SoWy development is its integration of residential spaces within a dynamic, creative environment, all while focusing on sustainability. More Development, which maintains an office within the SoWy site, is dedicated to respecting the unique cultural and artistic vibe of Wynwood and Overtown, ensuring seamless integration with the neighborhoods’ atmosphere.

Whitney Thier emphasized this commitment, stating, “More Development values artistry, craftsmanship, and history, and we were drawn to the soul and rich history of the area. With financing in place, we are ready to realize the initial phase of our plans to invigorate the neighborhood with a new vibrant environment where people can live, work, shop, dine, and play in a pedestrian-friendly and art-forward setting. We are eager to be a part of the community and are fully committed to preserving and enhancing the area’s distinctive character and contributing positively to its ongoing evolution. SoWy will build upon Wynwood and Overtown’s unique culture that attracts a diverse mix of residents of all ages and backgrounds.”

Wynwood is renowned for its vibrant street art, trendy galleries, and eclectic mix of shops and eateries. The neighborhood has experienced significant growth in recent years, with visitor numbers rising from 240,000 in 2013 to 15 million annually in 2023, according to the Wynwood Business Improvement District.

Overtown, on the other hand, is recognized for its historical significance and vibrant African-American heritage. Once known as the “Harlem of the South,” Overtown has been a cultural hub for music, arts, and community gatherings. The neighborhood is home to historic landmarks such as the Lyric Theater and hosts numerous cultural events celebrating its legacy.

More Development has a remarkable track record, having developed over seven million square feet of mixed-use property worldwide. The company is well-known for projects such as Baha Mar, a large resort in The Bahamas that includes three luxury hotels, 30 restaurants, bars, lounges, an 18-hole Jack Nicklaus-designed golf course, 10 swimming pools, a world-class spa, and the largest casino in the Caribbean. More recently, they completed Arev St. Tropez, a bespoke luxury hotel in the French Riviera, and are currently developing Mahogany Hill, a collection of luxury condominium residences in Nassau, The Bahamas.

With the SoWy project, More Development is set to enhance the vibrant and culturally rich neighborhoods of Wynwood and Overtown. The project promises to create a new, dynamic environment that respects the unique character of these areas while offering modern, sustainable living spaces. As the development moves forward, it will undoubtedly contribute to the ongoing evolution and growth of Miami.

St. Regis Residences Miami

Construction Update for St. Regis Residences Miami

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St. Regis Residences Miami

In a city known for its ever-evolving skyline, Miami’s Brickell neighborhood is gearing up for another impressive addition. Plans submitted to the Federal Aviation Administration (FAA) on June 3 have revealed ambitious developments at the St. Regis Residences property on Brickell Avenue.

According to the filing, two cranes are slated to be erected at the construction site, symbolizing a significant milestone in the area’s ongoing transformation. These towering structures are set to reach a remarkable height, with each crane projected to rise an impressive 741 feet above ground level, or 750 feet above sea level.

The proposed cranes are not the only elements reaching new heights in this project. Earlier this year, the Miami Building Department granted a total demolition permit, marking the beginning of the site clearance process. The permit was issued to make way for the forthcoming St. Regis tower, which promises to redefine Brickell’s skyline.

The vision for the St. Regis tower is nothing short of breathtaking. Once completed, it is set to soar 52 stories above ground, reaching a height of 630 feet above ground level and 639 feet above sea level. This architectural marvel will not only reshape the skyline but also elevate the living experience for future residents.

As the project progresses, meticulous planning and coordination are underway. A master construction permit is currently under review, while phased vertical and site work permits are in process. These meticulous preparations underscore the commitment to ensuring the seamless execution of this monumental endeavor.

The St. Regis Residences project represents more than just a construction site; it embodies the spirit of innovation and progress that defines Miami’s vibrant landscape. With each crane raised and each floor built, Brickell’s skyline reaches new heights, reflecting the city’s unwavering ambition and limitless potential.

OPUS Coconut Grove

OPUS Coconut Grove Development Unveiled with 14 Exclusive Residences

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OPUS Coconut Grove

We are thrilled to introduce OPUS Coconut Grove, the latest gem in the crown of luxury real estate. Nestled in the heart of Miami’s enchanting Coconut Grove, OPUS is a rare offering, limited to just 14 exclusive residences. This pre-construction development is designed to redefine elegance and sophistication, with units starting at $2.5 million, targeting a delivery by the summer of 2026.

The name OPUS is synonymous with pure excellence, unparalleled quality, and exceptional craftsmanship. These principles are the cornerstone of the 14 bespoke homes that make up this development. Renowned architect Kobi Karp and esteemed interior designer Joao Armentano have joined forces to sculpt a living experience that is as luxurious as it is functional. Every element, from the sweeping floor plans to the meticulous interiors, is crafted to harmonize luxury with everyday living.

Situated at 3137 SW 27th Ave, OPUS offers an enviable location within walking distance to the very best of Coconut Grove. From top-tier restaurants and chic retail to vibrant marinas and lush parks, everything is just a stone’s throw away. The development also boasts proximity to some of the highest-rated schools in Miami-Dade County, making it a perfect spot for families.

OPUS is not just a residence; it’s a lifestyle. The building features a six-story boutique structure with 12 residences and 2 penthouses. The amenities are designed with the utmost attention to detail:

  • Luxurious Amenities: 24-hour concierge, valet parking, and security, a rooftop pool and lounge, private gym and spa, and a climate-controlled wine cellar.
  • Residence Features: Custom kitchens with Italian cabinetry, Miele & Sub-Zero Wolf appliances, 12 ft high ceilings with floor-to-ceiling glass, and private elevator foyers.
  • Sustainability and Convenience: All condos are pre-wired for smart home automation and include natural gas, high-speed internet, and dedicated storage units.

The proposed deposit structure ensures a commitment to quality and investor confidence:

  • 20% at contract
  • 10% at groundbreaking (est. Q1 2025)
  • 10% at top-off (est. Q4 2025)
  • Remaining 60% at closing (est. Summer 2026)

As Coconut Grove continues to rise as a competitive and desirable locale, the opportunity to secure a home at OPUS should not be overlooked. With its limited inventory and high demand, securing a residence at OPUS is more than an investment—it’s a chance to own a piece of paradise in one of Miami’s most sought-after neighborhoods.

Domus Brickell Park Exterior

Introducing Domus FLATS: A New Condo-Hotel Experience in Miami’s Brickell Financial District

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Domus Brickell Park Exterior

Forman Capital, a private direct real estate lender based in Palm Beach County, Florida, recently made headlines with its $54.56 million construction loan to the developer of a groundbreaking condominium-hotel project in Miami’s Brickell Financial District. This development, known as Domus Brickell Park, promises to redefine the hospitality landscape in the area.

Domus Brickell Park is not just another real estate project; it’s a vision brought to life by the collaborative efforts of renowned architects Zyscovich Architects and interior designers Urban Robot Associates. The 12-story, 172-unit structure will house the innovative Domus FLATS brand, offering Flexible Apartments for Temporary Stays—a concept tailored to meet the demands of modern living.

The brainchild of North Development—a joint venture between Oak Capital, led by Ricardo Dunin, and Edifica, a prominent developer from Peru—Domus Brickell Park represents a fusion of international expertise and local insight. Its prime location at 1611 Southwest Second Avenue further adds to its allure, nestled within the vibrant heart of Miami’s bustling financial district.

Forman Capital’s involvement in the project marks a significant milestone, representing the first transaction between the sponsors and the lending institution. Partnering with Forman Capital, North Development secured the necessary financial support to realize their vision.

According to Ben Jacobson, Partner at Forman Capital, the collaboration holds promise for a long-term relationship. He expressed excitement about Domus FLATS at Brickell Park, emphasizing Forman Capital’s unique ability to swiftly execute construction financing transactions for such innovative developments.

What sets Domus FLATS apart is its unparalleled flexibility. Units within the development can serve as primary residences or be utilized for short-term rentals, offering buyers the freedom to tailor their investment according to their needs. Additionally, all units come fully furnished, providing a seamless transition for residents and guests alike.

Buyers opting to rent their units can leverage Domus’s comprehensive property management services and reservation system, which offers access to over 85 sales channels. With unit prices ranging from the $500,000s to $1.2 million, Domus FLATS promises luxury living with a touch of versatility.

Ricardo Dunin, Founding Partner of North Development, lauded the seamless collaboration with Forman Capital, citing their unwavering support and dedication throughout the financing process. He sees the successful financing as a testament to the market’s confidence in the Domus Brickell Park project and the Domus FLATS brand.

Scott Mehlman, Chief Investment Officer at Forman Capital, echoed Dunin’s sentiments, emphasizing the significance of the partnership and the potential for growth. He highlighted the transaction’s complexity and international scope, underscoring Forman Capital’s capability to navigate such challenges effectively.

As construction progresses and anticipation builds, Domus FLATS is poised to make its mark on Miami’s hospitality scene. With its blend of innovative design, strategic location, and unmatched flexibility, it stands as a beacon of modern living in the heart of Brickell.

Domus Brickell Park Rooftop Pool