The Arbor Residences, a high-end real estate development in Miami, Florida, presents a unique investment opportunity. This project, located at 3034 Oak Avenue in the prestigious Miami-Dade County, is now under the management of Arbor Grove Development LLC, following a strategic transfer of ownership from 3034 Oak Park LLC.
Originally launched in 2017, this five-story development faced challenges, leading to a halt in construction. However, with the new management, the project is back on track, aiming for completion by the third quarter of 2024. This turnaround story is typical of Arbor Grove Development LLC, known for successfully reviving projects on the brink of failure.
The Arbor Residences offer 45 luxury units, with sizes ranging from 1,450 to 3,000 square feet. The pricing starts at $1.4 million, a significant increase from the initial $799,000, reflecting the dynamic changes in the housing market over the past six years. This price adjustment also indicates a strong market demand and potential for substantial investment returns.
The development boasts high-end amenities, including a swimming pool, fitness center, and lounge, catering to an affluent clientele. The project’s location in a sought-after area of Miami enhances its appeal, making it an attractive proposition for investors looking to capitalize on luxury real estate.
As a hedge fund manager, this project offers a compelling investment opportunity. The combination of a strategic location, luxury amenities, and the potential for high returns, especially given the project’s recovery and growth trajectory under new management, makes The Arbor Residences a noteworthy addition to any investment portfolio.
Behar Font & Partners, a renowned architectural firm based in Coral Gables, is behind the design of The Arbor Residences. Their involvement adds an extra layer of credibility and aesthetic appeal to the project. With 36 active projects, their expertise in luxury residential developments is well-established.
The vertical construction of The Crosby Miami Worldcenter, which is positioned to provide further density to the existing buildings at Miami Worldcenter, has been successfully funded with a sizeable $94.2 million by The Related Group and Merrimac Ventures. According to building permits submitted to the FAA in January, the residential tower is planned to rise 33 floors high and is anticipated to reach its peak at about 377 feet above ground, or 390 feet above sea level.
The loan was given to DT G Block LLC, a joint venture organization connected to the developers, by the Arkansas-based Bank OZK. The project’s interior design and architectural design are being handled by AVRO|KO and Cohen Freedman Encinosa & Associates.
The Crosby Miami Worldcenter, which commenced work earlier this year, is planned to have 3,370 square feet of ground-floor retail space and 450 completely furnished, ready-to-rent condos.
The Crosby’s construction should advance more quickly now that the finance is secured. It will stand out for its remarkable architectural design, which embodies contemporary luxury. The tower’s sleek design, which is accentuated by modern finishes, is made to blend perfectly with Miami’s dynamic cityscape.
The Crosby is cleverly constructed to take full advantage of its location, with the lower floors laying out a sizable retail area that is open to the public. The amenities offered by the skyscraper are designed to fit a contemporary urban lifestyle. The Crosby residences’ allowance for completely furnished units to be posted for short-term rentals on websites like Airbnb represents an important trend in the Miami condo market and is a standout feature of the development.
Beauchamp Construction serves as the general contractor and according to the current schedule, The Crosby is expected to be complete in the first quarter of 2025.
If you or someone you know have an interest in purchasing at The Crosby Miami Worldcenter, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
In Miami’s Flagami neighborhood, south of Miami International Airport, a developer has plans for a brand-new residential development.
At 5645 Southwest Eighth St., The Richman Group and its affiliates have planned Parkview, a nine-story structure with 120 units, a rooftop pool and amenity deck, and parking for around 194 vehicles.
The proposal was recommended for approval along with a few recommendations by the city’s Urban Development Review Board.
According to Marissa A. Neufeld, an attorney for the developer, the land is divided into three parcels and is bordered to the north by an alley, to the west by an existing commercial complex, to the south by Southwest Eighth Street, and to the east by Southwest 56th Avenue.
Ms. Neufeld noted in a letter to the city that the project will contain a combination of parking for cars and bicycles and that the land is near several forms of public transportation and a major downtown thoroughfare, Southwest Eighth Street.
Behar Font & Partners are the project’s designers.
The property is a terrific location, and although it’s a smaller development it has some extremely fascinating elements, Behar & Font’s Javier Font told the board. According to him, the property features stunning views, including J. Fritz and Frances Gordon Park, which is directly south and across the street.
According to Mr. Font, the structure will have a smaller scale, a lot of glazing, and larger balconies, giving it a more horizontally linear appearance. A fully functional gym, a clubroom, a lobby, and coworking spaces will be available on the ground floor. The pool deck and some residential units are on the ninth story.
A utilities agreement between Fortune International Group and Château Group has been reached, allowing the St. Regis Residences Sunny Isles Beach, a two-tower residential complex planned at 18801 Collins Avenue in Sunny Isles Beach, to begin construction.
The utility agreement, which was signed on March 15th states the amenities, unit count, and parking.Patricia Anastassiadis, a designer based in So Paulo, and Arquitectonica are the interior and landscape architects listed for the project
Two 62-story towers are planned by the developers, which will be taller than any structures in the Sunny Isles Beach neighborhood. First to be finished, the 175-residence St. Regis Residences South Tower. The north tower can rise to 744 feet above ground level or 750 feet above sea level, according to FAA licenses that were approved in March 2022. The south tower is allowed to rise to 739 feet.
These heights will match the proposed height of the nearby Bentley Residences, making the north tower the tallest structure in the neighborhood based on roof height. La Playa Beach Associates LLC, a partnership between Chateau Group and Fortune, is the owner of the 4.7-acre property at 18801 Collins Avenue, which is situated on 435 linear square feet of shoreline property.
The shapes of the towers, which were influenced by the elliptical path of the Earth, convey a feeling of harmony with the natural environment. The project’s enormous curve is given a deeper significance while also creating a distinctive form that contrasts with the city skyline. The floor-to-ceiling windows of the apartments, which provide stunning views of the ocean, city, and Intracoastal, as well as the fine choice of materials and finishes, all bear witness to the meticulous attention to detail and skilled craftsmanship.
In less than six months, the property has already reached $750 million in reservations. The floor-plans for the units will range from 2,000 to 5,600 square feet for two to five bedrooms, as well as 6,600 to over 10,000 square feet for Sky Villas and Penthouses.
Residence Features:
Spacious floor plans boasting unobstructed ocean, city, and Intracoastal views
Ceiling heights clearing 10ft in regular units and 12ft in penthouses
Fully finished with flooring and closets
Private elevator and entry foyer in all residences
Service elevators
Italian designed kitchens with Quartz countertops
Miele appliances including wine cooler
Walk-in closets in all primary bedrooms
Laundry rooms with full-size washer and dryer
Smart home technology ready
Service quarters in select residences
Full floor residences with spacious floor plans
East and West terraces with pool on the east
Spacious terraces with luxurious private pool and jacuzzi
Summer Kitchen
Custom-designed Italian cabinetry
Graciously appointed primary suits and separate service quarters with separate entrance
Stunning, 360-degree views of the Atlantic Ocean and Intracoastal Waterway
Indoor BBQ
Indoor/Outdoor living space
Tower Amenities:
Managed by the St Regis Hotel Company, without hotel premises.
Grand entry driveway and 2-story porte-cochere
Impressive two-story lobby
10 Guest Suites per Tower
Concierge Services
Pet-friendly and much more
Private beach facilities
Oceanfront and sunset pools
A signature restaurant
Wellness center
Spa
Athletic club
The construction plans show 1,000 parking spots available for residents and the starting price for units begins at $3.5 million. The project is expected to begin in 2023 and be delivered in 2026.
If you or someone you know have an interest in purchasing at St. Regis Residences Sunny Isles Beach, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Todd English, a celebrity chef and four-time James Beard Award winner, will collaborate with Bentley Residences to create the menu and atmosphere for the development’s resident-only restaurant.
The exclusive restaurant will be open to residents for breakfast, lunch, and dinner and will offer private catering as well as poolside dining. It is situated on the lobby level and offers views of the pool and ocean. For a few resident-only events and demonstrations, chef Todd English will personally show up at the exclusive restaurant.
This exclusive gastronomic experience, with furnishings designed by Bentley Motors, will be one-of-a-kind and available only to the residents and their invited guests. There is a connection and link to the famed automobile brand thanks to the use of numerous fabrics and materials that were inspired by high-end luxury Bentley cars.
For instance, Bentley’s distinctive diamond patterning, which is present on the building’s external architecture as well, is referenced in the high-gloss flooring. For an upscale melancholy vibe, the private restaurant’s interiors combine a dark color scheme with strong details. The room’s forest green backlit banquettes give it a sense of seclusion, and the dramatic louvers that cover the walls give it a dramatic feel. For a more laid-back and informal dining experience, there is also plenty of bar seating available.
Todd English is known for being a restauranteur, author, and television personality, as well as his current establishments, Olives, Figs, and Pappas Taverna in New York City. He is also well-known for his appearances on the Food Network, PBS, and well-liked shows like Top Chef and Iron Chef. The private restaurant by Todd English, which is slated to provide residents a relaxed yet upscale atmosphere, will be the chef’s first private condominium idea.
A selected cuisine will also be offered for in-residence dining, and the menus will change seasonally. After being voted “National Rising Star Chef” by the Maryann Beard Foundation in 1991, English initially became well-known internationally for his take on rustic Mediterranean food. The dining experience will be enhanced by his extraordinary expertise and charm, which will offer a personalized touch with every meal.
According to English, “Every aspect of Bentley Residences has been so thoughtfully designed to perfection and I’m incredibly honored for this opportunity to partner with Gil Dezer and further elevate the luxurious lifestyle through unique culinary creations for residents. We’re excited to provide a curated experience with rotating seasonal menus that will make dining at Bentley Residences a joy for residents and their guests.”
The first private restaurant from Chef Todd English will benefit from his decades of expertise developing some of the most well-known restaurants in the world. English is well known for his cooking, but he has also been on a variety of television programs, including Iron Chef, Top Chef, The Today Show, and Food Trip with Todd English on The Food Network. He has additionally worked as the Executive Celebrity Chef for a number of high-profile occasions, such as the Super Bowl, Fashion Week, Tony Awards, and Sundance Film Festival.
About Bentley Residences
Bentley Residences will feature an amazing 20,000 square feet of private amenities over the course of three stories in addition to the resident-only restaurant. A whiskey and cigar lounge, wellness and renewal spa, movie theater, cabanas, and a seaside beauty shop are a few of these extras. One of the most amazing features is the Dezervator, a car elevator that allows homeowners to drive their vehicles from the first floor up to the privacy of their own houses without getting out of the vehicle. Residents can maintain their beloved automobiles in immaculate condition and keep them on display in their living rooms thanks to the Dezervator and the glass-enclosed garage.
The 62-story building at 18401 Collins Avenue in Miami’s Sunny Isles Beach, Bentley will feature 216 condos with starting prices at $5.25 million. Units will have enormous outdoor terrace areas, state-of-the-art Gaggenau cooking appliances, and panoramic views of the Atlantic Ocean and Intracoastal.
Bentley Residences is the first residential skyscraper in the world to bear the Bentley brand. Construction on the tower is scheduled to start in 2023 and be finished in 2026.
If you or someone you know have an interest in purchasing at Bentley Residences, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Residences in the Grove, a 148-unit luxury condominium at 2835 Tigertail Avenue in Miami’s Coconut Grove area, has received a $43.2 million refinancing loan for construction.
The loan was financed through City National Bank of Florida and KS Finance Corporation. This loan will pay for site preparation and preliminary demolition in order to kick off the project.
The developers for the project include a joint venture with Terra Development and AB Asset Management. The five-story development, designed by Arquitectonica, will have a stunning design centered on a coral rock façade and sustainable features that will effortlessly mix in with Coconut Grove’s current landscape and tree canopy. Also, the building will include about 22,000 square feet of street-level retail space with a health theme.
Tower Amenities:
Gym
Pool
Social Lounge
174 residential units
22,070 square feet of commercial
344 parking spaces (all in the basement)
Residence Features:
Elegant kitchen
Spacious floor plans
10 ft. ceilings
Stainless steel kitchen appliances
Construction is scheduled to begin this year with a completion date in Q4 2023 or early 2025. If you or someone you know have an interest in purchasing at Residences in the Grove, please contact Lucas Lechuga via email at [email protected] or by phone at (786)247-6332.
Uber and Miami-based Brightline have teamed together to give customers more transportation choices throughout South Florida.
The collaboration aims to satisfy client demand and improve Brightline+, a door-to-door service that already offers electric golf carts, airport and event shuttles, and door-to-door transportation.
According to the passenger rail firm, Uber will increase the number of vehicles available to passengers on the Brightline+ network. In the United States, this is the first time Uber has connected to a faster intercity rail service.
The Brightline app or website now allows users to add shared or private Uber rides when purchasing rail tickets. By guaranteeing a driver is waiting curbside to take passengers to their next location, the new in-app booking function aims to eliminate wait periods.
While Smart users can pay to add additional journeys to and from the station without distance limits, Brightline Premium passengers will receive complimentary rides within a 5-mile radius.
The fixed-route and electric vehicle shuttles of Brightline+ will still offer walkup rides. Destinations in Miami Beach, Miami International Airport, and Fort Lauderdale-Hollywood International Airport can all be reached via fixed-route shuttles.
In order to make it simpler for users to reach the stations and destination points, Brightline+ was introduced in 2021. Currently, Miami, Aventura, Fort Lauderdale, Boca Raton, and West Palm Beach all have Brightline stations. This year, it intends to start offering service to Orlando.
Westpine, a 43-story residential tower, has just had its plans submitted in Brickell. Westpine will have a 474-foot high peak and will feature 328 residential units, 1,155 square feet of retail, and 357 spaces for parking.
A multifamily building with 24 units that was built in 1964 is currently on the 0.7-acre site.
Westpine Brickell LLC is listed as the developer and Behar Font Partners as the architect. Westpine Brickell LLC, an affiliate of Westpine partners originally purchased the site for $11.53 million.
Instead of being referred to the City of Miami for review under city zoning regulations, the project was submitted to the Miami-Dade County Planners for review under their Rapid Transit Zoning Metromover Subzone.
On December 9, a pre-application meeting with county planners was sought.
Brickell, also known as the Financial District of Miami, is home to a large number of international banks such as HSBC, Espirito Santo Bank, and Banco Santander.
These Brickell Miami banks are predominantly located along Brickell Avenue – the main thoroughfare running through Brickell Miami and extending north to south from the Brickell Avenue Bridge to the Rickenbacker Causeway.
Brickell Miami is considered to be one of South Florida’s most prestigious neighborhoods and is a perennial favorite place to live among affluent, young professionals.
URBIN Miami Beach has officially broken ground. With developer Location Ventures, the achievement signifies the start of construction for the first-to-market mixed-use brand, which mixes design-forward residential units for short- or long-term rental with coworking spaces, wellness amenities, social activations, and lifestyle-oriented retail, all at one central address.
For the official groundbreaking event, which took place at the project site, 1260 Washington Ave., Location Ventures, development partners, and city representatives, Miami Beach Commissioner Alex Fernandez, Washington Avenue Business Development Executive Director Troy Wright, and Miami Beach Mayor Dan Gelber were among the distinguished visitors.
The URBIN brand portfolio’s initial property, URBIN Miami Beach, has a second location in Coconut Grove, with ambitions to expand to other U.S. cities. Once completed, URBIN Miami Beach will be a 69-unit tower with a number of wonderful amenities.
The development sold out quickly and drew a wide range of buyers from Latin America and Europe. 90% of the homes at URBIN Coconut Grove have already been sold, and construction is scheduled to begin at that location in 2023.
The fully furnished units at URBIN Miami Beach range in size from 275 square feet for studios to 1,334 square feet for four bedrooms with partial ocean views. Community, collaboration, and networking will be facilitated via shared spaces, such as a common kitchen, dining area, and living room. Exclusive access to a lease-back arrangement allowing up to 90 nights per year on the property will be available to unit owners only.
Tower Amenities
Valet parking
Concierge
Housekeeping
Room service
Rooftop bar and lounge with green spaces
Wellness center
Gourmet market
Cafe
Bar
Rishi Kapoor, CEO of Location Ventures, stated “Following enormous sales interest, we are pleased to commence the construction process for the first URBIN location at a ripe point in Miami Beach’s history.” The rapidly developing, storied Washington Avenue sector will benefit from this property’s integration of living, working, and wellness into one space.
Touzet Studio, headed by Carlos Prio-Touzet and Jacqueline Gonzalez-Touzet, created URBIN Miami Beach. The building’s exterior will reflect the whimsical spirit of Miami Beach by incorporating geometric patterns and hues that are common to the area and paying homage to its Art Deco past.
The interiors of its communal areas and amenities were chosen by Meyer Davis, a renowned New York City design firm. The home is located in the largest Art Deco neighborhood in the world, two blocks from the ocean, and close to Ocean Drive and Lincoln Road.
The Related Group’s affordable housing division, Related Urban Development Group, is requesting permission to develop a mixed-income housing development on Miami-Dade County property close to the Miami River.
The ground lease and development agreement with the Miami-based developer for the 1.05-acre site at 395 N.W. 1st St. and 25 N.W. River Drive will be up for consideration by the County Commission on September 1. There is a two-story county office building there right now.
The site is close to Interstate 95 to the west, Flagler Street Bridge to the north, and Lummus Park to the south.
In January 2021, the county released a request for proposals (RFP) to find a developer for the land, and Related Group was selected as the successful bidder.
The developer would lease the land from the county under the proposal for 75 years in exchange for a $1.54 million down payment and annual fee equal to 16.5% of the project’s revenue flow. Over the course of the lease’s 75-year term, the county calculated that the payments would total $238.8 million.
The Gallery at Lummus Parc was a project that Related Group predicted would cost $151.7 million to complete.
It would include 439 apartments in two 30-story towers, as well as 5,400 square feet of retail space, a 478-place parking garage, and a cultural installation showcasing Lummus Park’s heritage. An overpass over Northwest First Street would connect the towers.
On the eleventh floor, there would be an amenities deck with a pool, a club room, a workout facility, Zoom rooms, a game room, and a lounge.
Some of the apartments would have cheaper rents and be income-restricted. According to the agreement, 20% of the flats would be reserved for residents earning up to 50% of the area median income and another 20% for residents earning up to 140%. There would be no constraints on income for the remaining flats.
Miami’s average household income is $44,268. The Gallery at Lummus Parc is anticipated to fill some of that demand as local workers have found it more and more difficult to afford residences in the city due to recent double-digit rent increases.
The sizes of the flats would be between 495 and 1,220 square feet. There would be 28 three-bedroom homes, 99 studios, 177 one-bedroom units, and 135 two-bedroom units.
The Related Group representatives declined to comment. According to the proposal, a federal opportunity zone investment fund, Charlotte, North Carolina-based Grandbridge Real Estate Capital, and low-income tax credit equity from JPMorgan Chase and Raymond James would all contribute to the project’s partial funding.
The concept was created by Miami-based CFE Architects. The developer is represented in the application by Miami attorneys Terry M. Lovell and Al Dotson Jr.
