Miami=Downtown/ Central Business District III [Archive] - Page 8

thetallerthebetter

November 26th, 2008, 10:51 PM

Closings at downtown Miami condos have gone better than many expected

MIAMI – Nov. 24, 2008 – Miami’s latest building boom is creating 22,000 condominium units in the city’s urban center, more than double the number built in the past 40 years.

But the question everyone wants answered amid the real estate downturn is: How many have actually sold?

Seventy percent have found a buyer, according to a new study by condovultures.com, a real estate consultancy. But nearly a quarter of the condos – including some of the largest projects – built during the boom will be delivered over the next several months.

So far, 17,299 condos have been finished and 12,169 have closed at an average price of $405,966 per unit, adding up to total sales of nearly $5 billion in the greater downtown Miami area, which includes the Brickell, central business district and Midtown neighborhoods.

Those sales are better than many observers expected for a downtown area often viewed as ground zero for real estate speculation and excess, and it highlights Miami’s ongoing urban revitalization, fueled by people, builders and investors returning to the city center.

However, by year’s end, another 3,999 units are set to hit the market, and another 1,439 after that.

“South Florida developers have to be excited by the fact that more than two out of three downtown condo units have closed successfully,” said Peter Zalewski, principal at condovultures.com in Bal Harbour. “But some giant projects are coming, and they’re going to hit like a hurricane – the only question is what category storm?”

The massive projects include the three-tower, 1,800-unit ICON Brickell built between the bay and Brickell Avenue, which starts closings this month. The 342-unit EPIC rising alongside the Miami River also will start closings soon. Also coming are the 530-unit Mint at Riverfront, 459-unit Infinity at Brickell, and 346-unit Paramount Bay.

“We are bullish,” said Miroslav Mladenovic, vice president of Cabi Development, which started closings Thursday on its 848-unit Everglades on the Bay project along Biscayne Boulevard. “Comparable projects to ours have fared well; we don’t see why we can’t fare the same.”

A condo hotbed

Zalewski’s report, culled from a review of property records ending Sept. 30, covers the area between the Julia Tuttle and Rickenbacker causeways, and from I-95 to Biscayne Bay.

This swath of land has seen more development than any corner in Florida and is a closely watched sector in the broader housing market.

A month ago, the last of dozens of cranes erecting high-rise condos across downtown finally came down, signaling the end of the frenetic and historic boom. With few new residential projects planned, the next step is completing the structures and getting the units sold.

The new batch of condos is hitting the market as credit remains tight and existing home prices continue to fall due to a large inventory of unsold homes throughout South Florida.

Home sales, however, have picked up in recent months.

While many downtown builders pre-sold all of their units – buyers were typically required to plunk down 20 percent deposits, though some builders asked for 30 percent – the ongoing concern is how many buyers will ultimately come to the closing table and pay the remaining 70 to 80 percent.

A cottage industry of lawyers attempting to get buyers out of pre-construction contracts has emerged.

Despite ongoing buzz about vulture funds trolling the real estate market for bargains, the closings have largely occurred without such funds swooping in to buy up blocks of condos at a discount. The rare examples of such bulk deals have been developer-led. Related Group, for example, partnered with Philadelphia investor Lubert-Adler this year to spend $36 million on 146 units at 50 Biscayne, the 528-unit Biscayne Boulevard condo that’s now 100 percent closed, according to the condovulture.com report.

But that could change as the new round of closings for big condo projects begins at a time when developers face mounting pressures from lenders eager to see construction loans paid back. Indeed, the coming units could portend better deals for buyers and added pressure on downtown builders with outstanding loans and unsold units.

Hit and miss

So far the success of individual downtown buildings varies, according to the condovulture.com report.

For instance, the two-tower 528-unit One Miami at the mouth of the Miami River and 103-unit Loft I are 100 percent closed. The 348-unit Brickell on the River north tower is 98 percent closed. The 200-unit Ten Museum Park on Biscayne Boulevard and the 454-unit south tower at Quantum on the Bay next to Margaret Pace Park are 89 percent closed.

Turning to rentals

Yet, as of Sept. 30, the report found, the 635-unit Opera Tower, a few blocks north of the performing arts center, had closed only 35 percent of its units; the 498-unit Ivy along the Miami River had closed 32 percent; and the 91-unit Flagler First along Flagler Street just 28 percent.

Tibor Hollo, chairman of Florida East Coast Realty and builder of Opera Tower, said he has started renting units there.

“It’s a tough market, but we are getting closings,” said Inigo Ardid, vice president of Key International, who is building Ivy. He said closings at the condo tower have risen to 42 percent since Zalewski finished his report.

“It is a slow process. Instead of closing buildings in 40 or 45 days, it is taking six to eight months or longer,” Ardid said.

noland123

November 26th, 2008, 11:03 PM

mileageman

December 4th, 2008, 01:26 AM

theDirector

December 4th, 2008, 04:33 AM

doesn't surprise me. The building has been online for a year or more and there is only about three lights on.

Roark

December 5th, 2008, 02:00 AM

Endeavor305

December 5th, 2008, 05:48 AM

Doesn't surprise me because is Wachovia filing the foreclosure proceedings and they are merging with Wells Fargo.
There will be more headlines like this as we approach the end of some banks fiscal years, but they don't really mean all that much to residents or investors.
They have foreclosed on 284 units, they will mark the value down on their books, the regulators will be satisfied, the stock holders will be satisfied, then Neo (more than likely) will continue to sell and rent out apartments, and the 214 owners that have closed will continue as they were before the foreclosure proceedings.

Well that's true. Condo owners in Wind shouldn't be affected because the developer is facing foreclosure proceedings. The developer's debt for construction loans (or other loans where the developer's ownership of project was collateral) have no bearance on the individual condo owners.

Interesting and excellent point about Wells Fargo taking over. My understanding is Wells Fargo is still very sound financially and has the financial muscle to squeeze the developers whereas Wachovia didn't. It seem slike a good way to jam their foot in the door of opportunity in Wind. As also pointed out, it is part of the process to "clean" the books and satisfy shareholders. These big banks are just priming themselves up to be in great position when the economy comes around. I'm sure they see all those empty condos in Miami today as a goldmine of future mortgage loans. It's only a matter of time before the economy turns around and property values follow. These major banks will be posting oil company type profits in the future.

mileageman

December 5th, 2008, 06:08 AM

305Lover

January 13th, 2009, 04:06 AM

What happened to The Filling Station Lofts? Every time I pass by, I see it the same.

mileageman

January 16th, 2009, 10:38 PM

Endeavor305

January 16th, 2009, 10:52 PM

Miami sale falls through for Africa-Israel

http://www.globes.co.il/serveen/globes/docview.asp?did=1000417230&fid=942

Wow, $18 million deposit lost. Wonder if a legal battle will ensue for this money.

dave8721

January 17th, 2009, 05:17 AM

It appears that the occurrence that the buyer claimed was "force majeure" was a local municipality refusal to allow a tunnel to be built under the property, which made the deal not worthwhile for the buyer.

Who wanted to build a tunnel under what property?

305Lover

January 17th, 2009, 04:10 PM

Which lot is it exactly?

Roark

January 17th, 2009, 09:47 PM

Which lot is it exactly?
I think "Block 42" are the parcels contracted for the Miami World Center project. The land purchased by the Falcone/Roberts group, just west and northwest of Freedom Tower.
I'd bet that the buyers were trying to re-trade the price, and AI said no. Now, they will likely fight over the escrowed funds, and AI will have to find another buyer. $90M for 250,000 sq ft is about $15.7 Million per acre, great deal for the seller, IF he couldn't have brought the deal to closing.
Premiere Towers site just sold for $6M per acre last week for some perspective.

Endeavor305

January 17th, 2009, 10:22 PM

I think "Block 42" are the parcels contracted for the Miami World Center project. The land purchased by the Falcone/Roberts group, just west and northwest of Freedom Tower.
I'd bet that the buyers were trying to re-trade the price, and AI said no. Now, they will likely fight over the escrowed funds, and AI will have to find another buyer. $90M for 250,000 sq ft is about $15.7 Million per acre, great deal for the seller, IF he couldn't have brought the deal to closing.
Premiere Towers site just sold for $6M per acre last week for some perspective.

Do you know how long ago the deal was made? And do you know if the land there was ever valued that high? Curious to know cause that is alot for today.

spellbound

January 17th, 2009, 10:29 PM

Who wanted to build a tunnel under what property?

I found that to be odd as well. The only possible relationship to a "tunnel" that I can imagine would be the parcels proximity to the failed Port Tunnel project. Not sure how/why that would affect their decision.

In any case, hopefully this isn't an indication of trouble with the "World Center" proposal. Along with Museum Park I think it's easily the most important development proposal for downtown's future vitality.

dave8721

January 20th, 2009, 05:41 PM

It actually looks like "Block 42" is the land just behind the Paramount Park site (to the west). It is the plot to the SW of Marina Blue. Why would someone want to put a tunnel there? For a train coming out of the port?

That piece of land is listed in the planning plats at "Lot 3, Block 42" and the company that owns it now is officially listed as "Block 42 Acquisition LLC" (its mailing address is the Liviev Boylmelgreen address). So i'd say that must be the one.

Roark

January 20th, 2009, 06:08 PM

It actually looks like "Block 42" is the land just behind the Paramount Park site (to the west). It is the plot to the SW of Marina Blue. Not just a plot. Many plots. The purchase was for an assembelage of 250,000 square feet of land...several plots.
"force majuer" would be a clause in a contract to cancel and get your deposit back. To say, "I overpaid and I want my money back" doesn't really cut it.

An educated guess would be that the MWC plans would call for underground parking and tunnels under the roads and right of ways connecting all of the assembled properties together, some connections under the roads. If the city didn't approve that, and both parties anticipated they would, then the buyer can cancel and the escrowed money should be released to the buyer under force majuer. Theoretically.
The lawyers will have to state their client's case, and the judge will decide some day whether MWC gets their deposit back from Leviev/Bomylgreen. Then, one has to wonder if Lev/Bom will still sell them the land for a reduced price or at all.
Very interesting manuvering, but that is why you have to love this business!

mileageman

January 20th, 2009, 09:33 PM

mileageman

January 23rd, 2009, 06:51 PM

...

Endeavor305

January 24th, 2009, 12:08 AM

spellbound

January 24th, 2009, 12:30 AM

I think Publix is one of the better supermarkets. From what I've heard, it also has cheaper prices than Whole Foods, albeit a bit pricey also. Maybe it's better for the downtown residents (not the rich ones anyway) to have a Publix than a Whole Foods.

Publix is GREAT. I wish they'd expand further north nationally (I think North Carolina is the furthest north currently).

There's a pretty good chain called Wegman's up here, but I still prefer Publix overall.

The one thing Whole Foods has 'em both beat with is their salad bar. I'm addicted to it and there's a couple nearby here in Philly. Definitely, though, WF can be ridiculously pricey.

QuantumX

January 24th, 2009, 12:47 AM

Publix is GREAT. I wish they'd expand further north nationally (I think North Carolina is the furthest north currently).

I think they also do a good job of catering to the clientele of the specific neighborhood they happen to be servicing. I can get things at the Miami Shores and the newer South Beach Publix that I can't get at the Baypoint store.

Dale

January 24th, 2009, 01:20 AM

Exploratus

January 24th, 2009, 03:54 PM

Ive always wondered why Publix is not in Downtown. So many daytimne workers would buy stuff on their way home, plus office workers go get stuff thee during lunch (they do in Brickell). FUrthermore, with the new residences now and the relatively cheap rents in some parts it should succeed.

Publix at Mary Brickell is almost ready. SHelves are up and a lot of furniture is in. They even made the hole for the ATM machine near the entrance already.

Exploratus

January 24th, 2009, 05:50 PM

Looks like the worldcenter deal was not a small piece of land, they canceled a deal to buy 1/4 of the land originally slated for worldcenter.

http://www.miamiherald.com/business/story/869950.html

Endeavor305

January 24th, 2009, 07:54 PM

Looks like the worldcenter deal was not a small piece of land, they canceled a deal to buy 1/4 of the land originally slated for worldcenter.

http://www.miamiherald.com/business/story/869950.html

Good read. Interesting to see if the force majeure clause will hold up in court because the port tunnel project has been revived.

What stinks is this economy is killing almost every proposed project.

Roark

January 25th, 2009, 02:12 AM

Looks like the worldcenter deal was not a small piece of land, they canceled a deal to buy 1/4 of the land originally slated for worldcenter.http://www.miamiherald.com/business/story/869950.html
THIS JUST IN!!!
No, the MWC deal was not just a small piece of land. See post #1776 and before.
Haggman reports that it is the Port Tunnel that was the impetus for the Force Majeur. That is going a little farther than Globe St. article did.
Haggman comes to the same conclusion as the post from 4 days ago.
However, it is possible the builders balked at closing because they are trying to purchase the property at a lower price.Most likely.

Jimmy McShane

January 26th, 2009, 03:48 AM

mileageman

January 27th, 2009, 11:19 PM

900Biscayneguy

January 28th, 2009, 12:15 AM

Trader Joe's will be opening their first Miami (and Florida) location soon, although I don't know the location

That’s great to hear. TJ'S is one of my favorite stores.... reasonable prices and unusual items. I would rather shop at Traders than Wholefoods any day.
They are very popular here on the west coast.:banana::banana::banana:

On a flight back from LA, I sat next to a buyer from Trader Joe's. She said the were looking into opening a store(s) in Miami. This is good news!!!:)

spellbound

January 28th, 2009, 12:29 AM

LOVE Trader Joe's. The quality on some items can sometimes be iffy, truth be told, but the deals can be wonderful and they always have a pretty funky vibe to them. I'd bet they're looking at the Brickell area if I had to make a guess.

spellbound

January 28th, 2009, 12:29 AM

Downtown really needs some better stores. Why is there a Ross and other discount chains, IDK. I suppose it's normal because Philadelphia is the same.

Um, not really. There's plenty of high-end retail in Center City Philadelphia...mostly concentrated along the Walnut Street corridor and around Rittenhouse.

Just a few I can think of would be Williams-Sonoma, Tiffany & Co., Brooks Brothers, Ralph Lauren, Kiehl's...along with countless independent specialty boutiques. There's also stuff like Banana Republic, J.Crew, Borders, Macy's, etc. selling a mix of high and mid-range. Sure there's discounters like Ross and Marshall's or whoever, but they certainly also have their place (and you can find some damn good clothing deals at either if you have the patience for it!)

I'm sure Miami will acquire more high-end options in the downtown core eventually, but you have to keep in mind that it's a much more spread out metro area and the urban dynamics are very different.

Jimmy McShane

January 28th, 2009, 01:09 AM

MAH45462

February 3rd, 2009, 04:37 AM

That's what I mean. All high-end chain retailers are in suburbs like Bal Harbor and Aventura.

Bal Harbour's lease requirements for certain tenants have very strict rules about opening stores outside of Bal Harbor in the immediate area. That's why when FAO Schwratz opened in Aventura, they re-modeled the Bal Harbor store and re-branded it "Best of FAO."

Some stores have successfully been able to get out of the terms of the deal, such as Gucci.

Also, I would hardly call Bal Harbor and Coral Gables "suburbs" in the truest sense. At least the stores are in open air malls. And Merrick Park does an especially good job of feeling more like a plaza and less like a mall.

Nor is South Beach - also home to many high end stores - a suburb. It's easily one of the best urban shopping districts in the U.S.

kevinkagy

February 3rd, 2009, 05:15 AM

Jimmy McShane

February 11th, 2009, 11:31 PM

Roark

February 11th, 2009, 11:42 PM

To me, Bal Harbour, Coral Gables and South Beach are all just neighborhoods of Miami. It's a better way of explaining it. They're certainly not suburbs and they don't feel like their own cities. It's all just Miami.
I don't think that is a good way to explain it, because it is factually incorrect.

Most people understand that, but just in case there are couple of people that are confused.

Bal Harbour is a City in Miami-Dade County.
Coral Gables is a City in Miami-Dade County.
South Beach is a district in the City of Miami Beach which is a City in Miami-Dade County.

Jimmy McShane

February 11th, 2009, 11:46 PM

Endeavor305

February 12th, 2009, 12:31 AM

I don't think that is a good way to explain it, because it is factually incorrect.

Most people understand that, but just in case there are couple of people that are confused.

Bal Harbour is a City in Miami-Dade County.
Coral Gables is a City in Miami-Dade County.
South Beach is a district in the City of Miami Beach which is a City in Miami-Dade County.

Exactly. If you look at a property's tax assessor number (aka folio number or assessor's parcel number), the first two numbers indicate the municipality (aka city).

City of Miami = 01
Miami Beach = 02
Coral Gables = 03
Hialeah = 04
Miami Springs = 05
North Miami = 06
North Miami Beach = 07
Opa Locka = 08
South Miami = 09
Homestead = 10
Miami Shores = 11
Bal Harbour = 12
Bal Harbor Island = 13
Surfside = 14
West Miami = 15
Florida City = 16
Biscayne Park = 17
El Portal = 18
Golden Beach = 19
Pinecrest = 20
Indian Creek = 21
Medley = 22
North Bay Village = 23
Key Biscayne = 24
Sweetwater = 25
Virginia Gardens = 26
Hialeah Gardens = 27
Aventura = 28
Islandia = 29
Unincorporated = 30
Sunny Isles = 31
Miami Lakes = 32
Palmetto Bay = 33
Miami Gardens = 34
Doral = 35
Cutler Bay = 36

Those are all the municipalities (cities) within Miami-Dade County. As you can probably tell, they are assigned in chronological order from the date they were incorporated. The last incorporated city that I know of was Cutler Bay (36). When they began this numerical system many years ago, they assigned unincorporated area number 30 probably guessing it would never reach that high, but over the years, and with the popularity that incorporating has become, it has.

QuantumX

February 12th, 2009, 12:36 AM

When I used to tell people who didn't live here that I lived in Miami Beach and not Miami, they thought I was being elitist and was putting down Miami and was ashamed to say I lived in Miami until I explained to them that Miami Beach is its own city. "I live in the City of Miami Beach. I don't live in the City of Miami and South Beach does not belong to Miami." Most of us here know the difference, but many people around the world do not. To them, it is Miami's South Beach, which is a misnomer.

spellbound

February 12th, 2009, 12:41 AM

spellbound

February 12th, 2009, 12:50 AM

Most of us here know the difference, but many people around the world do not. To them, it is Miami's South Beach, which is a misnomer.

True, but I've given up on trying to "educate" them otherwise. For the most part it's just "South Beach, South Beach, South Beach" and that's not about to change. It's really all they know or care about.

Kind of a tangent here, but I've sometimes wondered if folks in the Tampa/St. Pete area are bugged by the term "Tampa Bay" gradually becoming the de facto name of their respective cities elsewhere---even though it's really just a body of water. Even Southwest Airlines uses it (although hopefully they aren't landing in it). I think it all started with the Buccaneers back in the 70's when the team was created and has just spread to general usage since then.

(and yes, I have enough free time today to worry about such nonsensical items) :lol:

Endeavor305

February 12th, 2009, 01:04 AM

Some of those are interesting. Never would have guessed Aventura predated Miami Lakes as an incorporated city, for instance. The first 11 on the list should probably be considered the "originals" since they mostly trace their roots to the 1920s boom era or earlier.

Funny to see "Islandia" (i.e. "Stiltsville") there, too. What would they have at this point, maybe five registered "residents?" Or maybe they're letting pelicans vote.

I'm not certain on many of the dates, but I do know that the oldest (City of Miami) was 1896. I know Aventura was 1995 because they have it engraved on the fascade of their city hall. You can clearly see it as you drive east bound on the William Lehman Causeway.

Miami Lakes is rather recent, 2003 if I'm not mistaken. As part of the incorporation, Miami Lakes revised it's town limits to include the communities known as Royal Oaks and Royal Palm Estates.

Did you know that West of Royal Oaks is an undeveloped parcel of land where they found artifacts that date back many centuries. They are believed to be artifacts from native Tequesta indians. It's similar scenario to Miami Circle. The land is (or at least used to be) owned by the Lowell Dunn family. They are long time developers down here in south Florida. A few years back there was a legal battle between the state and the Dunn family to develop the land. I think it may have been settled with the state purchasing the land for preservation.

Ahha! Just found an article on it through Google... The land is known as Madden's Hammock (http://archaeonews.blogspot.com/2006/06/indian-burial-site-in-miami-dade-may.html).

Endeavor305

February 12th, 2009, 01:12 AM

I've sometimes wondered if folks in the Tampa/St. Pete area are bugged by the term "Tampa Bay" gradually becoming the de facto name of their respective cities elsewhere---even though it's really just a body of water. Even Southwest Airlines uses it (although hopefully they aren't landing in it).

If they are, then they should hire Chesley “Sully” Sullenberger.

(and yes, I have enough free time today to worry about such nonsensical items) :lol:

Same here. Have you seen all the crap I've typed on here today?? I been stuck in my office pretty much everyday for the last week. Only yesterday did I get to go on the road in the late afternoon to do a job by downtown. Which is how I got those photos I posted yesterday.

spellbound

February 12th, 2009, 01:28 AM

I'm not certain on many of the dates, but I do know that the oldest (City of Miami) was 1896. I know Aventura was 1995 because they have it engraved on the fascade of their city hall. You can clearly see it as you drive east bound on the William Lehman Causeway.

The City of Miami would certainly be the oldest existing now. Without Googling it, I'm trying to remember if either (or both) "Lemon City" and "Cocoanut Grove" (that was the spelling) may have actually predated Miami in being incorporated before both were eventually made part of the city. I'm thinking no---that they were simply place names rather than incorporated entities---but not certain of that.

Some places have changed names over the years as well. North Miami Beach started life as "Fulford by the Sea" (which sea that was, I'm not sure) and South Miami (I think) was called "Larkins."

Ahha! Just found an article on it through Google... The land is known as Madden's Hammock (http://archaeonews.blogspot.com/2006/06/indian-burial-site-in-miami-dade-may.html).

Love stuff like that. Thanks for the link!

Hia-leah JDM

February 12th, 2009, 01:41 AM

Isn't Homestead numero duex in Dade, in terms of being incorporated?

Miami - 1896
Homestead - 1913
Miami Beach - 1915
Hialeah - 1925
Coral Gables - 1925

Endeavor305

February 12th, 2009, 02:05 AM

Isn't Homestead numero duex in Dade, in terms of being incorporated?

I'm not sure on Homestead's date, but if it is 1913 then there has to be some reason why its municipal code isn't higher up on the list ahead of some that were incorporated later. Either the list isn't completely in chronological order (as far as the earlier cities go) or Homestead's incorporation wasn't official (or "logged in") with the county until a later date. ??? I don't know, but good question.

PeterSmith

February 12th, 2009, 09:45 PM

kevinkagy

February 13th, 2009, 12:11 AM

Anybody happen to catch the article in the February 5 edition of Miami Today about a new plan for downtown Miami?

I was only able to read the headlines before I had to part ways with my edition, and I never got to finish the article, but it was something about a new plan unveiled last Wednesday or Thursday geared towards making downtown more urban.

Anyone?

I actually just read that article in the paper today, it was really good. The article was about a master plan for the entire Downtown area (including Park West, Omni, Brickell and the CBD). The master plan is being done by Zyscovich Architects and a group of Downtown area constituents and politicians.

The article spoke about preserving Downtown's historical buildings and possibly banning sidewalk vending (the hot dog stands) because other businesses are complaining about lack of business. They also spoke about measures to keep stores open on weekends and after 5pm as well as helping to create better connectivity within all neighborhoods within Downtown and to open pocket parks throughout Brickell.

There was another article that said there are 6 new restaurants opening up in Downtown in the next month. 4 of them I believe are slated to open at the DuPont Building, 1 other on Flagler St, and 1 in Brickell.

305Lover

February 13th, 2009, 04:19 AM

They should have made the stores in downtown stay open past 5 a long time ago.

jessemh431

February 13th, 2009, 07:54 AM

If I remember correctly, from seeing pics of DT Miami streets, many main streets have grassy center medians right?

Correct me if I'm wrong, but if so, couldn't those be taken out for use by light rail? Or at least compromised and have above ground rail? I know there is already some above ground rail, but I believe the first step in truly urbanizing a city is a large rail system. Miami is already very dense and the metro is not big in land size, so a great PT system shouldn't be too hard and shouldn't take too long.

Roark

February 13th, 2009, 08:25 AM

The article was about a master plan for the entire Downtown area (including Park West, Omni, Brickell and the CBD). The master plan is being done by Zyscovich Architects and a group of Downtown area constituents and politicians.It's been posted in the past but to piggy back. Kevin, the Downtown Master Plan was completed years ago and continues to evolve. The Downtown Development Authority has meetings that are open to the public, and are great to attend if you really want to know what is going on.
The Greater Miami Chamber of Commerce is also very instrumental to advancing the devleopment of CBD programs and many of their meetings/events are open to the public.
Interestingly enough, the newspaper reporters are getting their information from the meetings you can participate in.

dave8721

February 25th, 2009, 04:53 PM

How about an actual building proposal to talk about?

The new Childrens Courthouse goes before the planning board on March 4th. Its to go on the parcel just north of the Stephen P Clarke Center (government center) that was once proposed as the Marlins stadium site. Its to be 14 stories and 234 feet tall. By the way this little 14 story building is projected to cost over $300 million.

You can find renderings here by clicking on the "hok" logo on the top of the page, then clicking "locations", then clicking the dot on Miami from the map and then selecting Miami-Dade County Childrens Courthouse.
http://www.hok.com/

Not a big fan of the fact that they decided to have a large surface parking lot as part of the project.

UrbanImpact

February 25th, 2009, 05:20 PM

305Lover

February 25th, 2009, 05:22 PM

TYPO... On the website they put 41 stories. It looks very child-like because of the colors.

theDirector

February 25th, 2009, 06:04 PM

^^^^My only real beef with the project is the surface parking lot. Haven't we gone past that surface parking. It is a waste of space.

305Lover

February 25th, 2009, 06:17 PM

Oh I'm not saying that the child-like is a problem. I like it! It brings color to such a dull area of downtown.

kevinkagy

February 25th, 2009, 07:02 PM

The design is actually really nice and colorful, I like it. The public square in front is a huge plus. I know most of the buildings in the Government Center area all have public squares attached to them, so it's nice that they're continuing that trend with this building. As others have pointed out, the surface parking lot is annoying, especially since it's right next to Metrorail, but I'll take it, it's a well-designed building. They're the same architects that did the Frost Art Museum at FIU, and it turned out really nice.

spellbound

February 25th, 2009, 07:16 PM

I like it, too, but I wish the main structure was all glass rather than having that white concrete "cap" on it. Just a fan of a cleaner, sleeker overall look I guess.

The colorful aspect works well, imo, and usually I'm not a big fan of stuff like that.

(maybe it's not a typo, btw...the other 27 floors could be subterranean) :lol:

dave8721

February 25th, 2009, 09:33 PM

The surface lot is a special lot for judges and the like (kind of like the special surface lot for County Commissioners and the Mayor and Manager at the stephen p clark center). I guess its an indignity to park in a garage.

Exploratus

February 26th, 2009, 04:14 PM

The surface lot will probably be developed in the future. Its probably a cheap solution (temporary). One day, that lot will need to be built on. One day that land will just be too important IMO.

Furthermore, did anyone notice the green roofs or is that my eyes tricking me???

I like how the circular park (and plaza) they created terminates the exiting park on the north side. The bldg will enclose the open space (park) on the northside somewhat. It also looks like it connects with the existing pedestrian walkway on the north side, and then bends it to interact with the bldg. It also seems to redirect it towards the park, which is nice.

In terms of the little color pattern, at least those color squares are real windows that change the ambiance inside. At least they are not just plastic fake elements to make the bldg more Disney like, they are real functioning elements.

VisionMIA

February 26th, 2009, 05:30 PM

dave8721

March 3rd, 2009, 05:35 PM

http://www.miamiherald.com/news/breaking-news/story/930005.html

Miami's Bayside Marketplace for sale

Miami Herald Staff Report

As part of an attempt to restructure its financially struggling operations, General Growth Properties is trying to sell Miami's Bayside Marketplace.

Bayside is one of a handful of festival marketplace properties across the country for which General Growth is currently seeking buyers or potential partners, said David Keating, a company spokesman. All the properties were acquired when General Growth purchased the Rouse Corp. Burdened by debt from the Rouse acquisition and other growth, General Growth is trying to stave off bankruptcy.

The festival properties are viewed as ''noncore assets'' that don't fit with General Growth's focus on suburban shopping malls, Keating said.

''We've said from the beginning that this is one of the ways that we are going to pay down debt,'' Keating said.

There are currently no plans to sell off any of the company's other South Florida properties: Village of Merrick Park in Coral Gables, Mizner Park in Boca Raton and Pembroke Lakes Mall in Pembroke Pines.

mimo169

March 3rd, 2009, 11:22 PM

I actually just read that article in the paper today, it was really good. The article was about a master plan for the entire Downtown area (including Park West, Omni, Brickell and the CBD). The master plan is being done by Zyscovich Architects and a group of Downtown area constituents and politicians.

The article spoke about preserving Downtown's historical buildings and possibly banning sidewalk vending (the hot dog stands) because other businesses are complaining about lack of business. They also spoke about measures to keep stores open on weekends and after 5pm as well as helping to create better connectivity within all neighborhoods within Downtown and to open pocket parks throughout Brickell.

There was another article that said there are 6 new restaurants opening up in Downtown in the next month. 4 of them I believe are slated to open at the DuPont Building, 1 other on Flagler St, and 1 in Brickell.

Anyone have a link to this article? Thanks!

mileageman

April 3rd, 2009, 06:34 AM

...

theDirector

April 3rd, 2009, 02:35 PM

^^^^I saw that. Hmmmmm. Interesante :)

Aceventura

April 3rd, 2009, 09:29 PM

I had been demolished at Pawn Shop Lounge.

spellbound

April 3rd, 2009, 10:28 PM

I had been demolished at Pawn Shop Lounge.

With a name like that I would expect nothing less! :lol:

Aceventura

April 3rd, 2009, 11:24 PM

They had a school bus in the middle of the club, and '60s living room furniture set up outside, oh and a half-pipe. It had it's year of popularity with all the little hipster kiddies. I went one night with suede slippers because I was feeling cranky/lazy, and it seemed every girl in the place danced with me.

mileageman

April 3rd, 2009, 11:57 PM

...

kevinkagy

May 20th, 2009, 11:16 PM

From this week's Miami Today:

MASTER PLAN HUDDLE: Miami's Downtown Development Authority board is to get first glance at the updated downtown master plan at a 3-6 p.m. May 27 workshop. Members will get to dissect the plan to identify short- and long-term priorities. Vice chair Neisen Kasdin said one suggestion is to address three or four main concepts in the master plan to make sure ideas don't get lost and the development plan is followed.

dave8721

May 21st, 2009, 04:40 PM

The remaining parcels of Key International's portion of the riverfront developement getting foreclosed on:

http://southflorida.bizjournals.com/southflorida/stories/2009/05/18/daily2.html?surround=lfn

Monday, May 18, 2009, 9:00am EDT

Key International faces foreclosure in Miami

South Florida Business Journal - by Brian Bandell

Ocean Bank has filed a foreclosure action against a downtown Miami site controlled by Key International.

The Miami-based bank filed the lawsuit on May 12 against Key Miami River III and IV and other affiliates of Miami-based Key International.

The lawsuit is based on a mortgage last modified in 2006 at $18.5 million. It covers a 1.4-acre parcel on the southeast corner of Southwest Third Street and Southwest First Avenue, plus a half-acre parcel on the northeast corner of that intersection. Both sites are vacant.

The developer is the same one that built the nearby Ivy condominium and has nearly completed construction of the nearby Mint at Riverfront. Neither is included in the foreclosure action.

The sites are on the north side of Ivy and the west side of the Wind by Neo condominium, which also is facing a pending foreclosure lawsuit from Wachovia Bank.

Condo Vultures Realty CEO Peter Zalewski said the northern parcel owned by Key Miami River IV had been set aside for big-box retail, but development never began. The southern parcel owned by Key Miami River III was due to be the third tower in Key International’s series of Ivy and Mint, he said.

“Key International has built some quality product, but the problem that Key International has is that they came to market too late,” Zalewski said. “We have too much product and the bank is moving to foreclose on land that would have added more product to the marketplace.”

He noted that the value of that land has diminished significantly because it has no near-term development options.

Key International CEO Jose Ardid did not immediately return a call seeking comment.

Miami attorney David J. Smith, who represents Ocean Bank in the lawsuit, did not immediately return a call or e-mail seeking comment.

mimo169

May 21st, 2009, 06:47 PM

Architek

May 21st, 2009, 06:57 PM

dave8721

May 21st, 2009, 08:19 PM

the riverfront site is definitely interesting, i say if another boom were to start today the hottest pieces of real estate have to be

1.paramount park site
2.brickell citicentre site
3. Riverfront site
4. Met3 site
5. Dominican consulate site.

I would put the Villa Magna site up there as well. Plus the big site on the river next to BOR which is currently just a fenced off vacant lot. There is also always that huge FPL parcel on the river just north of the riverfront site.

QuantumX

May 21st, 2009, 08:24 PM

I would put the Villa Magna site up there as well. Plus the big site on the river next to BOR which is currently just a fenced off vacant lot. There is also always that huge FPL parcel on the river just north of the riverfront site.

Dave, I guess you no longer have that old Kobi Karp rendering of 100 S. Biscayne. I really liked it! The way Met2 is shaping up, I thought they sort of looked a like, but can't really remember.

Roark

May 22nd, 2009, 05:04 AM

the riverfront site is definitely interesting, i say if another boom were to start today the hottest pieces of real estate have to be
1.paramount park site
2.brickell citicentre site
3. Riverfront site
4. Met3 site
5. Dominican consulate site.
Hmm....I'd agree with some of that, but Dave is right on time with the Villa Magna site & Millennium Partners (west of BotR)
Here's my list
1. Miami Herald 10 acres
2. Villa Magna
3. Epic (eastern lot)
4. Millennium Partners
5. Met 3
6. Paramount Park
7. The Cima site (at Riverfront)
8. The other Riverfront site referenced in the preceding article

The Dominican Consulate site is a waste...and a story that I could tell you over beers one day. After several meetings in Santo Domingo with high level government officials, it is clear that they missed the opportunity to make that land useful. It could have been annexed to the 1060 Brickell site a few years ago. If you think the US Government is slow, try dealing with the Dominicans. Now that land is small, shallow, skinny lot without proper ingress or egress, and it won't be a commercially viable piece of land for any skyscraper. Maybe one day it will become a pocket park.

spellbound

May 22nd, 2009, 01:32 PM

Agreed on those sites mentioned.

It seems there's pretty much a consensus here that Met3 is dead (or close to it)---for good reason, obviously---but I would still rate that parcel as tops. Absolutely a primo spot where the FAA and the nimbys have a much reduced influence.

What's the actual staus there? How long can MDM hold an option on it?

I know there's no actual way to FORCE someone to erect an office tower (minimum 800-feet) on that site, but it sure would be nice and I think it demands nothing less ultimately. I just hope the MDM folks don't erect something dinky there or sell it to someone who won't do it justice. I'd rather wait a decade for something better if that was the case.

dave8721

May 22nd, 2009, 05:15 PM

I would put the Villa Magna site up there as well. Plus the big site on the river next to BOR which is currently just a fenced off vacant lot. There is also always that huge FPL parcel on the river just north of the riverfront site.

btw I meant the FPL parcel to the West of the riverfront site not north.

Roark

May 22nd, 2009, 10:06 PM

btw I meant the FPL parcel to the West of the riverfront site not north.Yeah, I figured.
Key International purchased the Easternmost portion of that FPL site and will make it a dog park and connector to the Miami River Greenway.
It would be extremely expensive to move all that FPL hardware...this conversation came up in the Miami River Commission meetings and the old discussions about a 1st Avenue tunnel under the river.

Surprising to me is how nice the riverwalk is in front of the FPL site, they did a great job hiding the equipment behind landscaping and benches.

kevinkagy

July 19th, 2009, 05:57 PM

theDirector

July 20th, 2009, 11:44 PM

^^^^^^^^That is great news.

kevinkagy

July 22nd, 2009, 04:12 AM

http://www.cpnfromtheinside.com/2009/07/study-confirms-downtown-miami-is-coming-to-life.html

Hia-leah JDM

July 22nd, 2009, 07:18 AM

I like.

ACTUM

July 22nd, 2009, 10:44 PM

Awesome news is awesome. d(*__^)b________''m''

DJ88

July 23rd, 2009, 01:54 AM

kevinkagy

July 23rd, 2009, 02:08 AM

Really great news. The best thing about it is I'm finally getting out of Orlando and I'll be one of those expected 10,000 new downtown residents next week!

No need to thank me just doing my part to fill up downtown :tongue2:

Nice! I'm jealous, I wish I could live in Downtown too haha. Enjoy your improved lifestyle lol.

mimo169

July 24th, 2009, 05:33 PM

Downtown is the bomb!! :)

PeterSmith

July 25th, 2009, 04:55 PM

http://www.cpnfromtheinside.com/2009/07/study-confirms-downtown-miami-is-coming-to-life.html

60,000 residents in downtown is quite a lot. Assuming they are measuring that number the way other cities do (within one square mile of a central point), that would make downtown Miami one of the most populated downtowns in the country, definitely in the top ten.

QuantumX

July 25th, 2009, 10:04 PM

60,000 residents in downtown is quite a lot. Assuming they are measuring that number the way other cities do (within one square mile of a central point), that would make downtown Miami one of the most populated downtowns in the country, definitely in the top ten.

Definitely coming, if not already there!

Bryan-Sereny

July 28th, 2009, 06:17 PM

Occupancy Rate In New Downtown Miami Condominiums
Eclipses 60 Percent, Continues To Trend Upward
http://www.miamidda.com/pdf/press_releases/dda_release090609.pdf

• Of the 21,616 new condominium units studied, 13,337 have closed and 98.6% of the closed
units are occupied.
• Average monthly sales of new units during the past three months increased over the three
months prior, with a 12‐month average of approximately 70 recorded closings per month.
• The average monthly sales and leasing activity of new units has been averaging
approximately 350 units per month.
• During the four year period from 2004 through 2007, an average of more than 2,000 condo
units were absorbed annually; in 2008, more than 4,200 units were sold, despite the collapsed
housing market and general economic recession.
• Of the total inventory of residential properties for sale in Miami-Dade County last month,
26% are located in Downtown Miami.
• Historically, more than 70% of Downtown Miami residents were renters. So the balanced
50:50 mix between owners and renters in new Downtown condominiums indicates a steady
increase in home ownership among area residents.

I feel compelled to point out that some of these statistics cannot be correct.

“Of the 21,616 new condominium units studied, 13,337 have closed and 98.6% of the closed units are occupied.”
-NONE of the new buildings are at 98% occupancy.

“During the four year period from 2004 through 2007, an average of more than 2,000 condo
units were absorbed annually; in 2008, more than 4,200 units were sold, despite the collapsed
housing market and general economic recession.”
-This statistic is misleading – they should have said “4,200 were CLOSED” not “sold”. They counted the closings of pre-construction condos which were sold in 2004 – 2007.

jamesgood72

July 28th, 2009, 06:56 PM

Bryan,

“Of the 21,616 new condominium units studied, 13,337 have closed and 98.6% of the closed units are occupied.”
-NONE of the new buildings are at 98% occupancy.

They're not stating that the new buildings are at 98% occupancy. They are saying about 61% is (13337 of the 21616 studied). Still seems high to me though... Although I'm only going by the lights on at night!

-James.

spellbound

July 28th, 2009, 07:21 PM

^^Plus, "occupied" presumably also includes part-time residents...so a unit may appear to be unsold/empty for lack of activity much of the time, but really isn't.

Exactitude with this would probably be impossible given the different habits and living arrangements of the residents, but any advance in the numbers is a good thing.

Bobdreamz

July 28th, 2009, 09:42 PM

that would also include renters as well. If I remember some stats the Brickell Homeowners Association counted 33,000 members in the Brickell area alone. I will say though that out of all of the major downtowns in the South, Miami will probably be tops in population.

dave8721

August 19th, 2009, 09:23 PM

Probably not good news for Capital at Brickell either:

http://southflorida.bizjournals.com/southflorida/stories/2009/08/17/daily42.html?surround=lfn

Everglades on the Bay enters bankruptcy

South Florida Business Journal

One of the highest-profile condominium projects in downtown Miami, the 506-unit Everglades on the Bay, has filed for Chapter 11 bankruptcy protection.

The bankruptcy petition, filed by Cabi Downtown LLC Developers, listed $100 million to $500 million in liabilities and 200 to 999 creditors.

The original $256 million construction loan on the twin-tower project was made by Bank of America. The mortgage had a November 2008 maturity date that was extended a couple of months to Feb. 18.

An April 3 South Florida Business Journal article said the project was swamped with issues, such as contractor liens and reluctant buyers.

Gryphon Construction LLC of Fort Lauderdale was listed as having the largest unsecured claim, at $912,272, which was termed disputed. It was followed by Miami-based law firm Siegfried, River, Lerner De La Torre & Sobel, at $395,456, and Holly Sime Realty of Miami, at $193,750. The Holly Sime claim was also termed disputed.

Bank of America was listed as a creditor without showing the amount owed to it. Many individual creditors were also listed. The petition was filed Tuesday as a single asset real estate bankruptcy, which typically means the bank holding the primary mortgage on the property can have the bankruptcy dismissed in 90 days if a suitable reorganization plan is not approved.

The project, at 244 Biscayne Blvd., on the site of the former Everglades Hotel, sits among a handful of other high-profile condo projects on downtown Miami’s main thoroughfare. The city is suffering from a glut of units from a now-crashed building boom.

Sales of Everglades on the Bay units started in 2004. However, the developer soon returned buyer deposits because of rising construction costs.

On Jan. 26, 2008, Cabi CEO Jacobo Cababie died, prompting a management change.

Elias Cababie, chairman of Mexican development giant GICSA, took over as head of Cabi, the U.S. subsidiary of GICSA. The bankruptcy petition is signed by Elias Amkie Levy, as a manager of Cabi.

Mindy A. Mora, of Bilzin Sumberg Baena Price & Axelrod LLP, is the bankruptcy court attorney for the developer.

theDirector

August 20th, 2009, 05:26 AM

QuantumX

August 20th, 2009, 05:51 AM

And yet I just read an article on here that condos were flying off of the market. Eventually these will sell and the buildings will fill up just not know. THat is why they call it an investment. You must invest.... duh!!!! :bash:

Well, I think that Capital is such an attractive project in such an attractive location that some developer will eventually build it anyway.

theDirector

August 20th, 2009, 08:00 AM

I hope so QuantumX. :) That project is one of my favorites. Probably one of the more well designed and landmark-esque towers. Fingers will be crossed.

DJ88

August 20th, 2009, 08:04 AM

What? I was planning on looking at some units for rent at everglades on the bay tomorrow. So what does that mean for a potential renter of a unit there? Am I just SOL?

theDirector

August 20th, 2009, 10:04 AM

I'm sure you can rent there. I highly doubt that they will turn you away.

QuantumX

August 20th, 2009, 12:58 PM

What? I was planning on looking at some units for rent at everglades on the bay tomorrow. So what does that mean for a potential renter of a unit there? Am I just SOL?

I think that translates into a good deal for you! :):cheers:

DJ88

August 20th, 2009, 02:10 PM

Haha well I hope so, but is there any chance of anything going wrong if they continue to lose money? Something about living in a building thats going bankrupt doesn't feel safe.

Roark

August 21st, 2009, 02:11 AM

What? I was planning on looking at some units for rent at everglades on the bay tomorrow. So what does that mean for a potential renter of a unit there? Am I just SOL? Nothing...you won't feel a thing. If you can rent there, you will likely get a great deal. Try for $1.40 a square ft. That would be a great lowball offer.

As the development entity re-organizes, they will likely work with their lender to work out their loan then sell at prices around $225 per square foot to the public. There will be plenty of sales and the building will fill up. If you love skyscrapers and downtown Miami, this is a very exciting time for you!
Enjoy.

DJ88

August 21st, 2009, 06:45 AM

305Lover

August 21st, 2009, 02:37 PM

^^The studios at Opera are under $1000, if thats what your looking for.

dave8721

August 21st, 2009, 07:50 PM

Thanks Roark, I'm definitely excited about moving to Downtown I've been waiting a long time for it.

Anyways I went to the Everglades on the bay today and they showed me the 500 something sq ft flats but I wasn't to fond of it. They were only on the lowest floors, were pretty small, and wouldn't go lower than $1000 a month. I asked them about the place filling for bankrupcy but they wouldn't budge lower than a $1000. Loved the property though, I would've loved to stay there. The search goes on!

According to this article that is pretty much why they are declaring bankruptcy. Other lenders allowed other buildings (1080, Ivy) to lower prices to sell out the building and pay back the crediters, CABI's lenders would not allow them to lower the prices, and 75 units out of 849 closed. Cabi is declaring bankruptcy to basically force the lenders to restructure and allow them to sell the units (and I assuming rent them) for cheaper.

(Has a cool pic of the model of Capital as well)
http://www.miamiherald.com/news/miami-dade/story/1195636.html

Exploratus

October 9th, 2009, 12:18 AM

Work begins on Changes to Bayfront Park

http://www.urbancityarch.com/2009/10/changes-bayfront-park/

theDirector

October 9th, 2009, 04:51 AM

I was just there two weekends ago and I thought to myself, they really need to improve this park. It is like a frying pan. LOL. Good looking out. Can't wait.

dave8721

October 13th, 2009, 05:13 PM

http://southflorida.bizjournals.com/southflorida/stories/2009/10/05/daily73.html?surround=lfn

Miami DDA OKs downtown master plan
South Florida Business Journal - by Oscar Pedro Musibay

The Miami Downtown Development Authority gave its blessing Friday morning to a blueprint for the future of the city’s downtown area.

The plan, which has been years in the making, looks to develop a convention center, facilitate waterway and road transport, and assimilate its waterfront into burgeoning districts.

The DDA’s goal, through its 2025 Downtown Miami Master Plan, is to shape the area into the “epicenter of the Americas,” a hub for business and culture.

The DDA came up with new ideas and incorporated scenarios from prior plans to complete the plan, said Javier Betancourt, its principal master planner.

The goals include enhancing downtown’s position as the business and culture center, leveraging open and developable space along the waterfront and boulevards, and better connecting Brickell Avenue to downtown and beyond (to places such as Miami Beach and to the north through existing systems such as Tri-Rail).

The approval is a significant step, since there have been multiple visions for Miami's downtown, some of them in conflict with each other, and, until now, no single plan has been acted on in a substantive way. Friday’s approval marks a departure from the lack of consensus on planning for downtown Miami's future.

The plan touches on a short-term goal of solidifying the city's role as hub of the Americas through the development of a convention center. Sub-goals would including ensuring "that the economic benefits of the center and its associated development are shared by the residents and businesses in the surrounding communities," the master plan states.

Jerome Hollo, son of Miami developer Tibor Hollo, said the convention center was a worthy goal, but added that it would take $1 billion and time. He suggested that the DDA instead focus on existing resources to achieve its conference-related goals for the downtown area.

Betancourt also touched on the DDA’s desire to focus attention on Biscayne Boulevard, making it more pedestrian-friendly. The group wants to turn what is currently parking at the center of the boulevard into a promenade, which would require relocating the parking, he said.

“Biscayne is our front door,” Betancourt said. “We really need to elevate it to international iconic status.”

The plan also attempts to focus development and community activity around Brickell Avenue, the main thoroughfare for downtown’s financial district.

“The intent of this goal is to physically transform these streets, from Bayfront Boulevard and financial and residential addresses, respectively, into vibrant, attractive public spaces to rival the great streets of the world like the Champs-Élysées in Paris or Las Ramblas in Barcelona,” the report states.

Although some board members raised concerns about the plan’s implementation, DDA Vice Chairman Neisen Kasdin said it would be the group’s job to prod the ideas into action. He said the DDA had taken its first major step toward doing that.

“Now, we have a vision, he said.

The DDA plans to form new committees, and make use of existing ones, to create strategies and move forward on implementation of the plan's goals.

noland123

October 30th, 2009, 07:19 AM

Panoramic view of Miami from the air

http://www.panoramio.com/photo/5185083

Södermalm

November 1st, 2009, 03:44 AM

wachovia financial center is planning on removing the royal palm trees in the atrium in favor of shade trees, which is generating controversy

theDirector

November 3rd, 2009, 05:22 PM

Well, I drove by yesterday and they have already begun. None are left. I favor this actually.

Roark

December 1st, 2009, 07:12 AM

Here are some pictures of Wind. This building turned out to be a very pleasant surprise. Great amenities and very large balconies.
My company is representing the remaining bank owned units that have been foreclosed. There is a limited number and they will not be available by week's end. If you are a qualified investor or savvy end user, send a private message, the pricing is significantly below replacement cost.
If you are neither, please enjoy the pictures!

Wind is the building on the right, it is a Luis Revuelta design with extraordinary balconies located on Miami Avenue only 3 blocks from Flagler and 5 blocks from Mary Brickell Village.
http://i113.photobucket.com/albums/n215/restainer/Skyscrapers/Wind%20at%20Riverfront/Wind.jpg

http://i113.photobucket.com/albums/n215/restainer/Skyscrapers/Wind%20at%20Riverfront/WindBalconies.jpg

Night view
http://i113.photobucket.com/albums/n215/restainer/Skyscrapers/Wind%20at%20Riverfront/ViewfromWindatNight.jpg

The building has a narrow design to optimize the views and balcony sizes.
http://i113.photobucket.com/albums/n215/restainer/Skyscrapers/Wind%20at%20Riverfront/WindBalconies2.jpg

As you can see, the balconies are the size of a small room.
http://i113.photobucket.com/albums/n215/restainer/Skyscrapers/Wind%20at%20Riverfront/WindBalconies3.jpg

Lobby
http://i113.photobucket.com/albums/n215/restainer/Skyscrapers/Wind%20at%20Riverfront/WindLobby.jpg

http://i113.photobucket.com/albums/n215/restainer/Skyscrapers/Wind%20at%20Riverfront/WiindLobby2.jpg

Racquetball Court/Workout Facilities
http://i113.photobucket.com/albums/n215/restainer/Skyscrapers/Wind%20at%20Riverfront/Wind-RaquetballCourt2.jpg

http://i113.photobucket.com/albums/n215/restainer/Skyscrapers/Wind%20at%20Riverfront/Wind-WorkOutFacilities.jpg

http://i113.photobucket.com/albums/n215/restainer/Skyscrapers/Wind%20at%20Riverfront/Wind-RaquetballCourt.jpg

Steam Room/Sauna
http://i113.photobucket.com/albums/n215/restainer/Skyscrapers/Wind%20at%20Riverfront/Wind-SteamRoomSuana.jpg
Massage Room
http://i113.photobucket.com/albums/n215/restainer/Skyscrapers/Wind%20at%20Riverfront/Wind-MassageRoom.jpg

Children's Playroom
http://i113.photobucket.com/albums/n215/restainer/Skyscrapers/Wind%20at%20Riverfront/Wind-Playroom.jpg

Media Room
http://i113.photobucket.com/albums/n215/restainer/Skyscrapers/Wind%20at%20Riverfront/Wind-Theartre.jpg

Club Room
http://i113.photobucket.com/albums/n215/restainer/Skyscrapers/Wind%20at%20Riverfront/Wind-ClubRoom.jpg

http://i113.photobucket.com/albums/n215/restainer/Skyscrapers/Wind%20at%20Riverfront/Wind-ClubRoom3.jpg

Game Room
http://i113.photobucket.com/albums/n215/restainer/Skyscrapers/Wind%20at%20Riverfront/Wind-GameRoom2.jpg

http://i113.photobucket.com/albums/n215/restainer/Skyscrapers/Wind%20at%20Riverfront/Wind-GameRoom.jpg

Pool/Hot Tub/Meditation Deck
http://i113.photobucket.com/albums/n215/restainer/Skyscrapers/Wind%20at%20Riverfront/Wind-Pool.jpg

http://i113.photobucket.com/albums/n215/restainer/Skyscrapers/Wind%20at%20Riverfront/Wind-Pool3.jpg

http://i113.photobucket.com/albums/n215/restainer/Skyscrapers/Wind%20at%20Riverfront/Wind-Pool2.jpg

http://i113.photobucket.com/albums/n215/restainer/Skyscrapers/Wind%20at%20Riverfront/Wind-HotTub.jpg

Rendering of a model apartment
http://i113.photobucket.com/albums/n215/restainer/Skyscrapers/Wind%20at%20Riverfront/Wind-Bedroom.jpg

Rendering of a split plan (bi-level)
http://i113.photobucket.com/albums/n215/restainer/Skyscrapers/Wind%20at%20Riverfront/Wind-SplitApartments.jpg

1772

December 1st, 2009, 04:54 PM

Wow! That was some condo building! I love the squash court, that would drag me up every morning. :)

I really like that these are built behind the biscayne wall. That makes the city more alive.

miamipaintball

December 2nd, 2009, 11:32 PM

Roark

December 3rd, 2009, 04:18 AM

...

Roark

December 3rd, 2009, 04:19 AM

It depends on floor, and size.

miamipaintball

December 3rd, 2009, 07:40 AM

It depends on floor, and size.

alright then. cheapest 2 bed on like the 9th or 10th floor?

dave8721

January 8th, 2010, 11:11 PM

Loft 3 site sold by Related to MDC:

http://southflorida.bizjournals.com/southflorida/stories/2010/01/04/daily44.html?surround=lfn

Thursday, January 7, 2010, 5:48pm EST | Modified: Thursday, January 7, 2010, 6:02pm

Related Group sells downtown Miami lots

South Florida Business Journal - by Oscar Pedro Musibay and Brian Bandell

Downtown Miami land owner Rafael Kapustin recently bought 28,500 square feet of land from the Related Group and flipped it to Miami Dade College.

The property is a little over a half an acre at 200 N.E. Third St., next to the two Downtown Loft projects that Kapustin and Related already finished.

Kapustin paid $4.37 million on Dec. 29 for the three lots where the Loft III project was once planned, according to public records.

He sold it to the college the same day for $5.47 million. Records indicate a $5 million mortgage on the property was also satisfied on the same day, but it is unclear who paid the debt.

Related bought the property for $12 million in 2007 from Kapustin and companies he controlled, according to public records.

The developers had planned a 500-unit project on the site, but Loft III stalled, as did the planned Loft IV project further south, when the residential real estate market melted down.

Condo Vultures managing principal Peter Zalewski, who wrote about the transaction on his Web site, said the status of the Loft III site had been unclear until the recent transactions.

Kapustin said he could not comment on the deals.

A call to Related COO and Evecutive VP Matt Allen was no immediately returned.

"Miami Dade College recently acquired the property in an effort to further expand educational opportunities and possibilities in the downtown area, where its Wolfson Campus is located," Miami Dade College spokesman Juan Mendieta said. "The future expansion of the campus, facilitated by this purchase, will help address student service and classroom needs since the campus is, in essence, landlocked, with little room for growth.

The land sits across the street from Miami Dade College. It has an assessed price of $5.7 million, according to the Miami-Dade County Property Appraiser's Office.

DJ88

January 9th, 2010, 02:31 AM

Yeah they ripped off the Loft 3 promos all around the lot a long time ago.

kevinkagy

January 11th, 2010, 06:33 PM

Loft 3 site sold by Related to MDC:

http://southflorida.bizjournals.com/southflorida/stories/2010/01/04/daily44.html?surround=lfn

What a shame, Loft 3 was such a great project, this makes me a bit sad. I was hoping that they'd hold off until the economy improved to build it. 35-story apartment building vs 6-story building, I'd rather take the 35 stories.

kevinkagy

February 7th, 2010, 01:39 AM

There's a construction crane at 450 SE 2nd Ave on a lot that used to be a small surface parking lot. The building appears to be a small infill building that is being built flush with its neighboring buildings. I assume it's a building for MDC as its neighbor buildings are MDC's. Anyone know any more information on this building?

MDC seems to be on a construction rampage in Downtown now with a building planned for the lot west of the College/Bayside Station, purchase of the Loft III site, construction on this small parcel, and more land for classroom buildings: http://www.miamiherald.com/news/southflorida/story/1183678.html?storylink=mirelated.

miamipaintball

February 7th, 2010, 03:44 AM

miami1

February 25th, 2010, 04:06 PM

Wednesday, February 24, 2010, 5:02pm EST
Hallandale Beach investor buys loan on downtown Miami site South Florida Business Journal - Brian Bandell

A Hallandale Beach investment group has acquired a problem loan covering a development site across from the American Airlines Arena in downtown Miami.

The mortgage, from Kansas-based Hillcrest Bank to Boca Raton-based Royal Palm 700 Biscayne, was last modified at $22 million in 2006. In February 2009, the bank filed a foreclosure lawsuit looking to seize the 1.7-acre site, at 700 Biscayne Blvd.

Royal Palm’s parent company, RPC Diversified Holdings, planned to build 300 condominium units and 286 hotel rooms on the site, but construction never began. It is currently a parking lot.

The foreclosure lawsuit remains pending and Royal Palm has filed a motion to dismiss it.

On Feb. 12, Hillcrest Bank sold the mortgage to 700 Biscayne LLC for an undisclosed sum, according to Miami-Dade County Circuit Court records. The manager of the buyer is Manuel Grosskopf, who is among the principals of Terra Group, which developed the 900 Biscayne condominium in Miami. According to Terra Group’s Web site, Grosskopf works for Sky Group Development out of Uruguay and Argentina.

A nearby parcel, at 600 Biscayne Blvd., is owned by a Terra Group affiliate, which has proposed the 63-story Freedom Square condominium there, alongside Miami’s iconic Freedom Tower.

Terra Group officials did not immediately return a call seeking comment.

Bobdreamz

February 25th, 2010, 07:25 PM

^ hmm..interesting development! Is this lot just immediately south of Marina Blue?

Roark

February 25th, 2010, 08:59 PM

^ hmm..interesting development! Is this lot just immediately south of Marina Blue?
Yes. Marina Blue is 888 Biscayne.

Södermalm

March 1st, 2010, 07:53 PM

Fortune International, a luxury real estate company based in Miami, Florida, has acheived a 95% sell-out in two months at Wind Condominium, a luxury building on the north bank of the Miami River.

http://www.prlog.org/10537035-fortune-international-achieves-95-sell-out-in-two-months-at-wind-condominium.html

Miami's Newest Live Music Venue, Grand Central, Debuting During WMC in Park West

http://blogs.miaminewtimes.com/crossfade/2010/02/grand_central_miami_poplife.php

Aceventura

March 3rd, 2010, 02:39 AM

Right by the site of the Miami Arena. I'm glad it has a few blocks separation from Park West.

kevinkagy

May 14th, 2010, 04:50 PM

Looks as though the Historical Museum of Southern Florida, now named "HistoryMiami" is planning on staying put on Flagler Street and not move to Museum Park. It instead plans on doubling its size by taking over the building the Miami Art Museum will vacate once they move to Museum Park.

Here's the Miami Today article:
HistoryMiami seeking to double its size, add performance space
http://miamitodaynews.com/news/100513/story4.shtml

Along with its new name, HistoryMiami has a new plan: double its size and expand its exhibit space, educational offerings, archives and research areas — and even add performance space.
Rather than open a small branch within the Miami Science Museum facility planned for Museum Park, the history museum hopes to stay in Miami-Dade County's cultural plaza downtown at 101 W Flagler St.
The idea is to expand into the space the Miami Art Museum intends to vacate for its own move into Museum Park.
Taking over the neighboring building and growing to more than 80,000 square feet within the plaza "will give us the opportunity to expand our permanent exhibition space and enhance our temporary exhibition space," HistoryMiami President Bob McCammon said Monday. "Additionally, this will provide us with additional space to really have an educational center," including dedicated classroom space.
Archives and research "will be greatly enhanced," he said, with more than double the area.
And after 25 years of community research, Mr. McCammon said the museum envisions emphasis on a "South Florida Folk Life Center" complete with a venue for display art and cultural performances.
Logistics are still in the works, including how the museum might connect — or facilitate connectivity — between its existing facility and the neighboring but separate art museum space.
County commission approval is the first step, he said, and "all the fun stuff after that."
Voter-approved general obligation bonds in 2004 included $275 million intended to go toward new museums in the park, $100 million for an about 120,000-square-foot art museum and $175 million for the 250,000-square-foot science facility.
Of that, $10 million and 25,000 square feet were meant for the Historical Museum of Southern Florida, known now as HistoryMiami.
Scrapping that plan and moving ahead with the new cultural plaza expansion idea needs a commission OK. Discussions with the county are ongoing.
Mr. McCammon last week gave an overview presentation to the advisory committee that oversees the bond program, Miami-Dade Cultural Affairs Director Michael Spring said Tuesday.
Though the plan is in early stages when it comes to approvals, the museum has a "very well-formed concept on how this would work," Mr. Spring said, and "it has some advantages."
Rather than having a museum outpost in the park, "it's a larger museum at the current location," he said. "It also answers the question that everyone seems to be asking about what happens to the Miami Art Museum [building] when the Miami Art Museum moves out."
The new plan has "been endorsed by the mayor and the manager," and the 11 commissioners the museum has pitched so far seemed "very receptive," Mr. McCammon said.
He expects a vote this fall.
"The [art museum building] was built for a museum, and so it should remain as a museum, and they thought we would be the best suited for it and we agree," he said.
Expanding within the cultural plaza — home now to the Miami-Dade Public Library along with the history and art museums — would double museum space, Mr. McCammon said.
The museum today doesn't pay rent for its county-owned cultural plaza facility, instead guaranteeing to provide certain services like educational offerings and artifact-keeping in exchange for the space.
Mr. McCammon said the same arrangement has been discussed should the expansion into the art museum space move forward.
It's not been decided whether the $10 million in county bonding would be transferred to the new project, though Mr. Spring said it's been discussed.
If not, a capital campaign would be in order, Mr. McCammon said.
Meanwhile, the potential $10 million lost and 25,000 square feet vacated poses not a problem but an opportunity for the science museum, CEO Gillian Thomas said.
Finding a tenant more fitting for a science facility "will really help us deepen what it is we're trying to achieve," she said.
The new partner, or potentially partners, would probably cover the costs for the space, and "if we position the partnership well," could open doors to more funding opportunities in general, Ms. Thomas predicted. "We're very excited about the opportunity."
The Museum Park art and science museums aren't expected to open until 2013 and 2014 respectively.
Construction has yet to begin.
On top of the county bond money, both the art and science museums have pledged to raise about $100 million apiece for construction, endowments, exhibits and other costs.
As of a February county report, pledged donations outnumbered collected cash for both museums.
And, reeling from a shrunken tax roll and lower-than-planned debt service millage, officials are evaluating the general obligation bond program to see which projects it can fund when. Project timelines could be affected.

dave8721

May 26th, 2010, 08:54 PM

http://www.globest.com/news/1670_1670/florida/185213-1.html

Last updated: May 26, 2010 07:29am
Carlisle To Start $25M Affordable Project

By Hortense Leon

MIAMI-In a neighborhood plagued with neglect, where empty lots, some filled with rubble, dot the landscape, the Metro Apartments affordable housing project, developed by the Miami-based Carlisle Development Group, will break ground on June 1, the first such development in the area in years.
Overtown, which borders downtown, has been the subject of many plans over the years, but few have come to fruition. Just a couple of blocks to the east, Biscayne Boulevard is lined with gleaming new luxury condominium skyscrapers. The contrast between the two neighboring districts, Biscayne Boulevard in downtown and Overtown to the west, is stark.

Metro Apartments at 1000 NW First Avenue, will be a $25 million, 90-unit, 13-story high-rise affordable housing development targeted at low and very low-income households. Ninety percent of the units will be set aside for tenants earning 60% or less of the area median income. The project is scheduled for completion in 12 to 18 months. Funding for Metro Apartments will come from various sources, including $20.7 million from the Florida Housing Finance Corporation’s Tax Credit Exchange Program, which converts tax credits into grants for developers.

Another $2.4 million will come from the First Housing Development Corporation of Florida, a Tampa-based mortgage banking firm specializing in the financing of multifamily affordable housing, and $2.1 million will come from a Miami-Dade County surtax.

According to a May 25th Miami Herald, nearly 100 affordable housing developments in Florida, including 44 in South Florida, have been awarded some kind of federal stimulus money in the past year, from grants to low-interest loans. Many of these projects had been stalled for years, but now can move forward. The Carlisle Group is one of the developers benefiting from affordable housing stimulus funds.

Carlisle is the largest affordable housing developer in Florida with 10 existing affordable housing developments in South Florida alone. In addition, the company has affordable housing developments in Northeast Florida, the Southeast region of the US, and the US Virgin Islands.

kevinkagy

May 26th, 2010, 10:07 PM

^^ Cool!

victorino08

May 26th, 2010, 11:00 PM

http://www.globest.com/news/1670_1670/florida/185213-1.html

i don't know if i'm against it but i do know that downtown miami will become more dense and be more like manhattan in 20 years... but i'm thinking if this kind of idea making affordable housing in downtown; which is destine to be a luxury place to live... wouldn't this interfere with how downtown miami is developing "i think i think" it will drive back....

spellbound

May 26th, 2010, 11:38 PM

i don't know if i'm against it but i do know that downtown miami will become more dense and be more like manhattan in 20 years... but i'm thinking if this kind of idea making affordable housing in downtown; which is destine to be a luxury place to live... wouldn't this interfere with how downtown miami is developing "i think i think" it will drive back....

You need a mix of people and economic status for a thriving downtown. The wealthy residents are great, and certainly add a lot to the tax base, but remember also that the wealthiest are also the most likely to be only part-time residents---some for as little as a few months a year (if that). For that segment, Miami may be just one of multiple homes and when they are absent they aren't eating at local restaurants, shopping at local stores, or being a part of daily life in any way.

Residents in the working and/or middle-class are far more likely to be permanent fixtures. Adding to daily commerce, using public transportation, needing schools, etc. Those are the things that make a city pop with energy and life and without them downtown retail would suffer greatly.

I don't know if the New York example is a good one. Manhattan has a concentration of wealth and power unlike any other American city, and it's not even close. I would look towards other, smaller cities with a thriving urban core (there are plenty) as what to emulate or---hopefully---surpass over time.

victorino08

May 27th, 2010, 01:04 AM

^^^affordable housing for middle class people without the the help of government is good... like you said wealthy people and middle class people MIX but not below poverty... the housing profect is for people below poverty line... now i seen housing project thru out 8th st, flager st and 1 st all in little havana... but thats west of miami river and west of I95...

so in another words i agree the gov should help but should know where to help...

trust me i know middle class is the engine of every major city in the U.S... and before the empire state building was build and during the boom of manhattan the crime rate was high compare to now...so in that way i compare manahattan to miami (reputation)but yes is bad comparison... overtown is only blocks away... i think overtown is the problem why downtown is what it is... thats where the gov should start....

NYJets305

May 28th, 2010, 08:05 PM

^^ What are you talking about? The Empire State Building was built constructed 1931, during the Great Depression. And what does it have to do with these apartments?

Speaking of these apartments, they're not going to built downtown. It's Overtown, an area that if gentrified, would be completely independent of downtown. Also, I'm sure a lot of these people who are going to move in already live in the area slums, and with the population moved into more smaller spaces, redevelopment can occur when slums are cleared.

But, I understand your point here, and Carlisle has a reputation to show this. They turned the The Royalton, a former historical hotel in the CBD, to housing for people far below the poverty line (in fact homeless). With institutions like the Camillus House moving away from the area, this is beyond me why after jumping to Step 2, Downtown Miami is jumping back to Step 1. Especially when The Royalton should have been a boutique hotel or condos.

victorino08

May 28th, 2010, 08:45 PM

^^i know what i'm talking about

ArcRocks

July 2nd, 2010, 08:31 PM

MDC Does True Infill

From the latest Miami Dade College newsletter: “MDC’s Hospitality Management and Culinary Arts program is creating an environmentally sound setting from the ground up. The new state-of-the-art building will be the first of its kind in the area to apply for LEED Silver status.” More importantly, the project, currently topped off and being finished, may be the first true small-scale infill (two party walls) project in downtown Miami in decades. Core and shell architecture by PBS&J, interior architecture by STA. Let us know what you think in the comments.

http://dawntown.org/2010/06/30/mdc-does-true-infill/

kevinkagy

July 3rd, 2010, 03:01 AM

^^ I've watched this building go up, and had never seen a rendering of it until now. Although it's nothing impressive design-wise, I think it's really cool that it's a true infill building and (I presume) space efficient.

900Biscayneguy

September 20th, 2010, 08:42 PM

Maybe coming to Miami??

From Todays NY Times:

--------------------------------------------------------------------------------

September 20, 2010
Wal-Mart to Aggressively Roll Out Smaller Stores
By THE ASSOCIATED PRESS
Filed at 1:58 p.m. ET

NEW YORK (AP) -- Wal-Mart Stores Inc. is planning an aggressive push into urban markets with a new small format that's a fraction of the size of its supercenters.

The expansion is aimed at pumping up sluggish U.S. sales. The retailers is expected to spell out more details next month at a meeting with analysts.

Real estate executives say that this summer the world's largest retailer has been scouring for small locations, around 20,000 square feet, in urban areas including New York City and San Francisco. That's larger than a typical drugstore but smaller than a supermarket.

Wal-Mart just reported its fifth straight quarterly decline in revenue at U.S. Walmart stores open at least a year. That's considered a key indicator of a retailer's health.

http://www.nytimes.com/aponline/2010/09/20/business/AP-US-Wal-Mart-Urban-Expansion.html?_r=1&hp

BornInTheGrove

October 10th, 2010, 07:37 PM

dunno if anyone's noticed, but there is some site work being performed on the site of what would have been Loft 3. Can anyone affirm what is going on?

dave8721

October 15th, 2010, 09:29 PM

On the Freedom Square land:

http://southflorida.bizjournals.com/southflorida/stories/2010/10/11/daily41.html?surround=lfn

Loan for land near Freedom Tower sold

South Florida Business Journal - by Brian Bandell

A Hollywood investment group has purchased the loan covering the property behind Miami’s landmark Freedom Tower, where developer Pedro Martin proposed building a condominium tower.

600 Biscayne LLC owns the nearly 1-acre site at the same address on Biscayne Boulevard, across the street from the American Airlines Arena. Martin, CEO of Terra Group, obtained city approval to build the 63-story Freedom Square condo there. The proposal was controversial in some circles because the tower would rise behind the 15-story Freedom Tower, which was a gateway to the U.S. for thousands of Cuban immigrants.

Martin donated the historic building to Miami Dade College. However, major construction on the condo did not take place. By the time Martin was ready, the downtown Miami condo market was overbuilt.

The property was secured by a $26 million mortgage in 2005, with Martin as a guarantor.

In December 2008, after sending 600 Biscayne and Martin a letter telling them they were in default on the loan, lender iStar agreed to extend it to Oct. 1, 2010.

No extension of the loan was filed with county records.

Martin declined to comment.

On Sept. 28, iStar sold the 600 Biscayne mortgage to Hollywood-based FT Land, which is managed by Inge Frohlich. In a recent Securities and Exchange Commission filing, he was listed as a director of Grand Cayman-based Emerald International, which was helping hedge fund Crystal Capital Partners in a $277.7 million capital raise.

Adam Greenberg, managing director of Miami-based BayBridge Real Estate Group, said the site is worth about $6 million.

“It sounds like someone is backing into a very good land bank deal by buying the defaulted note and holding it till the market recovers completely,” Greenberg said.

The site poses many challenges for development, including the preservation of the Freedom Tower and the FEC railway that runs through the property, said Peter Zalewski, a principal with Bal Harbor-based Condo Vultures. He said it's less attractive than several other potential development sites nearby.

Zalewski doubts the site could sell for anywhere near the $26 million mortgage in the near future. That's because construction loans are scarce and the area is full of available condos and commercial space. He said the property is a long-term hold.

900Biscayneguy

October 23rd, 2010, 05:28 PM

dunno if anyone's noticed, but there is some site work being performed on the site of what would have been Loft 3. Can anyone affirm what is going on?

I just got back from Miami yesterday. Are you speaking of all the construction work on the lot on Biscayne just north of MDC? I spoke to one of the guys on the site and asked what they are building. All I could get from him was "parking" not sure if its just going to be a lot or a parking structure. Anyone have any further info?

BornInTheGrove

October 23rd, 2010, 11:51 PM

I just got back from Miami yesterday. Are you speaking of all the construction work on the lot on Biscayne just north of MDC? I spoke to one of the guys on the site and asked what they are building. All I could get from him was "parking" not sure if its just going to be a lot or a parking structure. Anyone have any further info?

the site i'm referring to is north of The Loft 2 and west The Loft.

http://maps.google.com/maps?q=miami&ie=UTF8&hq=&hnear=Miami,+Miami-Dade,+Florida&gl=us&ei=rFfDTNrDKYP7lwff-fWCCg&ved=0CCsQ8gEwAA&ll=25.776593,-80.190073&spn=0.00156,0.003862&t=h&z=19

900Biscayneguy

October 24th, 2010, 12:01 AM

So, what is going on next to MDC??

dave8721

December 9th, 2010, 05:52 PM

There is a new proposal going before the planning board on the 12th to build two 27-story 255 foot residential apartment buildings in Overtown at 1120 NW 1st Ave (12th street and NW 1st ave on the west side of the rail road tracks). The project is called 'City Center'

http://egov.ci.miami.fl.us/Legistarweb/Attachments/61249.pdf

miami1

December 10th, 2010, 12:21 AM

There is a building under construction, about six floors up already, close to that site. I don't know if it is the same project, the first four levels where for the garage...

dave8721

December 10th, 2010, 04:02 PM

There is a building under construction, about six floors up already, close to that site. I don't know if it is the same project, the first four levels where for the garage...

This project is a block or so north of that project.

ArcBalto1906

December 10th, 2010, 04:54 PM

On the construction north of the loft projects, Miami Dade College is building a new student center for its Wolfson campus, I believe its going to be 4 to 6 stories tall and its designed by zyscovich, so don't expect anything fancy from it.

miami1

January 5th, 2011, 03:38 PM

Downtown Miami to get 6 new restaurants, clubs

http://i137.photobucket.com/albums/q236/jcmrls1293/Macy_s_West_building_mhb_ho_embedded_prod_affiliate_56.jpg
Rendering of proposed development of the Macy's West building at 2 W. Flagler St. in downtown Miami.
THE BARLINGTON GROUP
Photo
Downtown Miami could get a boost at revitalization this year.

Six new restaurants and night life operators are expected to occupy 20,000 square feet
on the ground floor of Macy's west building, 2 W. Flagler St., in downtown Miami by June 1,
said Bill Fuller and Martin Pinilla II, managing partners of the Miami-based Barlington Group,
which holds the master lease on the space.

Barlington Group is subleasing the space, which has been empty for five years, to the
restaurants and night life operators. The partners declined to disclose the operators' names,
but said each will have between 1,000 and 9,000 square feet of space.

Macy's will continue to occupy the east building.

``The idea is to create a night life scene and by doing that increase the foot traffic
and pedestrian feel of the neighborhood at night,'' Fuller said.

-- INA PAIVA CORDLE

Read more: http://www.miamiherald.com/2011/01/05/2000823/downtown-miami-to-get-6-new-restaurants.html#ixzz1AAT3xcZu

SkyDiveJunkee

January 5th, 2011, 04:36 PM

This sounds like a promising redevelopment.

HavanaMiami1977

January 5th, 2011, 07:14 PM

Great Things are coming to downtown

xerxesjc28

January 5th, 2011, 07:56 PM

Is that the building that is connected to the metro mover? If it is this is great, the first floor looks horrid as it is now. It is like all walls with barely any opening.

dave8721

January 5th, 2011, 09:44 PM

Is that the building that is connected to the metro mover? If it is this is great, the first floor looks horrid as it is now. It is like all walls with barely any opening.

Yes it is that building.

Here is a longer article from Miami Today with more details:

http://miamitodaynews.com/news/110106/story1.shtml

Six-business entertainment hub to open in downtown Miami Macy's ground floor

By Yudislaidy Fernandez
Six restaurant and entertainment venues are slated to open by June in 20,000 square feet of street-level retail space in downtown Miami, the product of a partnership between mega-retailer Macy's and a Miami-based realty firm to transform the Central Business District into a destination that can draw more nighttime traffic.
Bill Fuller and Martin Pinilla II, co-founders and managing partners of Barlington Group, are investing the capital and Macy's is putting up the space.
Larry Gautier, regional vice president of Keyes Co., worked with Macy's on finding the right team to lease the space. He's been working with Macy's for eight years on its short- and long-term plans for excess space at the downtown store at 22 E Flagler St.
The department store owns two buildings on the east and west corners of South Miami Avenue and Flagler Street that connect by an elevated walkway.
"We are pleased about the new plan and look forward to the energy and excitement it will bring to the area," said Melissa Goff, a spokeswoman for Macy's Southeast region, via e-mail.
This day-and-night culinary and entertainment complex planned in the west building is to include several restaurants, bars and even a live jazz and blues venue, said Mr. Pinilla, who along with Mr. Fuller formed Barlington Group in 2004.
He said he couldn't announce tenants until all the leases are signed but described them as "unique and dynamic."
All the tenants are new to the Miami-Dade market, Mr. Gautier added. "All of the tenants that are going to be on board have committed to each of the spaces and each of the groups have been hand-selected," Mr. Pinilla said. They've been "sort of curated to create the proper synergy. Although only a couple of them have executed leases, the rest are in the final stages of getting the leases executed."
An architect has also been hired to design a new façade to rejuvinate the building's appearance, Mr. Fuller said, and add lighting and other attractive elements at par with Miami's nightlife.
"We hope to create more activity on the street and Macy's hopes it will help increase store traffic and increase synergy among businesses in that core," he said.
All the venues are to face either Southwest First Street, South Miami Avenue or Flagler Street, Mr. Pinilla noted.
The team said it's is scheduled to formally present the project at the Jan. 13 City of Miami commission meeting to familiarize elected officials and the community with the full scope of the plans.
Macy's and downtown have clashed in recent years.
In February 2009, the national retailer announced a companywide reorganization that called for reducing personnel in its downtown Miami headquarters by cutting 600 locally-based jobs and leaving a large void to fill at the property.
In late 2006, Macy's complained to the Downtown Development Authority and the city about downtown's appearance and safety issues, raising concerns that the national retailer could leave the urban core.
This new deal also comes when Macy's tenant in the east building, Florida International University, has found a new home.
After considering multiple bids for relocation of its downtown business school hub, the university awarded the lease, estimated at 30,000 square feet, to twin-tower 1101 Brickell Ave.
After years of leasing at Macy's, the school opted to move to Brickell Avenue, joining other universities with a presence on Miami's Financial District.
With this new project, Mr. Gautier said the goal is to add restaurant and entertainment tenants that can bring a "wow factor" to downtown, appealing to its growing condo community and visitor industry, which includes tourists and cruise passengers and crews.
The team seeks to create a vibrant, pedestrian-friendly destination with sidewalk seating like Brickell's Mary Brickell Village, Mr. Gautier said, while "creating something not present in Miami-Dade right now." Once all the leases get inked, Mr. Fuller said, build-out is to begin right away, as the goal is to complete the renovation within four to six months.
"By then," he said, "we should see the beginning of a whole new moment for this area of downtown."

URBANITY REPORTS

January 5th, 2011, 11:19 PM

So, when are they breaking ground?

JOrtiz

January 6th, 2011, 12:22 AM

This is FANTASTIC news! I was walking around this area the other day and I snapped a picture of the Macy's, thinking what a shame it was how dirty and dilapidated the area was. The area is begging for some rejuvenation. This could be very good for this area. Hope it goes through!

Hia-leah JDM

January 6th, 2011, 05:43 AM

Hopefully Macy's does something about their building too.

URBANITY REPORTS

January 6th, 2011, 06:29 AM

Hopefully Macy's does something about their building too.

+1

It reminds me of Kowloon :ohno:

Exploratus

January 6th, 2011, 06:30 AM

This is just what the are needs. I walk there every day, my office is 2 blocks away, and I alway say that what downtown needs is a big push in the entertainment area - an attraction that brings tourists and residents further west into downtown. If downtown can bring people a few blocks west it will increase activity throughout downtown at night.

mechanesthesia

January 6th, 2011, 06:21 PM

Glad to hear this. One of the main things holding me back from moving to downtown is that there is no nightlife and everything closes at ridiculously early hours. Yes, there are clubs, but when you are starving when you leave, you have to drive far just to find a McDonald's that's open.

dave8721

January 20th, 2011, 10:23 PM

Renderings for City Center a pair of 27-story affordable housing buildings proposed for Overtown (NW 11th ST and NW 1st AVE, fronting the rail road tracks). It goes before the commission on the 27th.

http://egov.ci.miami.fl.us/Legistarweb/Attachments/61638.pdf

skyscraperhighrise

January 21st, 2011, 02:29 AM

pawnmaster

January 22nd, 2011, 11:11 PM

http://www.miamitodaynews.com/news/110120/story7.shtml

The first residents of Camillus House's new facility for the homeless are to move in by July, but what has Miami commissioners' attention is the fate of its current site.
When commissioners approved $10 million in Southeast Overtown/Park West Community Redevelopment Agency funds toward the shelter's new health-district site, it was with the caveat that the current Allapattah facility be promptly razed.
Camillus House marketing Vice President Sam Gil said the shelter at 726 NE First Ave. must be demolished within 120 days after a certificate of occupancy is obtained for its new property — a rule the Community Redevelopment Agency imposed in putting money toward the project.
Yet the idea of using the site for another shelter facility has already begun circulating, Miami Commissioner Marc Sarnoff said, something he aims to quash.
"What we need to be guardful of and careful about," he said at a December commission meeting: "There are… other [elected officials] that have intentions of reintroducing another facility there. And that is not why we spent $10 million. We didn't spend the $10 million to keep another facility open and call it something different."
Construction of the new $84 million Camillus House facility at Northwest Seventh Avenue between 15th and 17th streets in Miami's health district has been underway since May 2010, with some parts begun earlier.
Area leaders had been pushing for the relocated, larger complex since 1984, saying development of the northern section of downtown Miami hinged on departure of the homeless population that Camillus House aids.
Dr. Paul Ahr, president and CEO of Camillus House, said the first part of the planned seven-building complex, Shepherd's Court, is to open in July.
It's to provide permanent housing for 80 chronically homeless, Dr. Ahr said.
A five-story garage nearing completion is to open in tandem.
The third part currently under construction, an eight-story building housing offices and the main residential building for participants in Camillus House programs, is expected to open in April 2012, he said.
Work on the other four buildings has yet to begin.
Among the four planned is a three-story building containing the complex's kitchen and dining room. It's intended to be built in the same phase as the under-construction facilities, but Camillus House is still looking for bank financing to begin work.
"It's a little bit of a tricky issue," Dr. Ahr said, because if construction is delayed much longer, the 80 to 100 people living in the main residential building would have no dining room or kitchen.
Once financing is secured, he said, the aim is to complete the fourth building in line with the main residence.
Other buildings to be completed in phase two include another office building, an overnight shelter/medical center and a chapel paid for by the local Catholic community.
Financing sources for the new facility include $30 million in private pledges — out of a $40 million goal — the Community Redevelopment Agency's $10 million, $22.4 million from the state, $5.9 million in federal funds and $4.4 million from Miami-Dade County.
Dr. Ahr said the goal is to be out of the agency's Allapattah site and operating in its new location by summer 2012.
"Our intent is to essentially vacate the building and demolish it," he said, as per agreement with the redevelopment agency. "We're moving and we're taking everything that we have with us."
He added that as part of the agreement, the redevelopment agency might purchase the land.
Dr. Ahr said he, like Commissioner Sarnoff, has heard talk at the county level of using the Allapattah facility as a residential complex for young, at-risk females.
The project, Mama Hattie's House, is planned by area nonprofit Girl Power! as "a social, educational and residential complex that will provide a safe and stable environment for at-risk girls 24 hours a day," according to the group's website.
Reminding fellow commissioners that the redevelopment agency's $10 million was intended to eliminate any shelter-type facilities from the area, Mr. Sarnoff asked that they "not indulge the conversation of "Oh yeah, that'd be a great idea.' Because it wouldn't be."
"Just be careful," he said, "that we don't in haste or in trying to get along reintroduce another problem under a different name."

miami1

January 27th, 2011, 03:41 PM

Condo inventory detailed in new report

Led by sales activity in downtown Miami, about 85 percent of the 50,000 condos built during South Florida's historic housing boom have sold.
By TOLUSE OLORUNNIPA
tolorunnipa@MiamiHerald.com
Developers have sold 85 percent of the condos built in South Florida during the building boom beginning in 2002, according to a report released this week by Bal Harbour-based consultancy Condo Vultures.

The report, which studies condo markets from South Beach to West Palm Beach, found that developers have sold 41,258 condos in the last eight years, with the largest chunk of sales taking place in downtown Miami.

``People are certainly taking advantage of the fact that [condos] are affordable and available both to live in and also to invest in,'' said Leo Zabezhinsky, manager of business development and real estate for the Miami Downtown Development Authority.

While many of the boom-time buyers were speculators , many of today's buyers are investors and vultures, hoping to capitalize on the troubled market by renting out the units.

That explains much of the shift in sales activity taking place between South Beach and downtown Miami, as rental demand is up in places like Brickell and purchase prices are lower in the city than by the ocean, said Peter Zalewski, principal at Condo Vultures.

``An investor comes in, they look in South Beach, and they get sticker shock,'' he said. ``If they want to be on the sand, they go up to Sunny Isles Beach. If they're looking for investment value, new construction, they go to downtown Miami.''

Spurred by bulk buyers and lender takeovers, condo sales in downtown Miami reached 3,675 in 2010, up 57 percent from 2009, according to the report, based on county records. Condo sales in South Beach totaled only 123 last year, up from 107 in 2009. At the current sales pace, it would take about a year to sell out the remaining developer inventory in downtown, and more than a decade to sellthe 1,300 new condos in South Beach.

Areas like downtown Fort Lauderdale benefitted from good timing, as developers completed most of their condo projects before their housing market crashed. There are only 160 new condos yet-to-sell in downtown Fort Lauderdale, where more than 5,000 units were built during the boom.

Condo Vultures focused its report on seven housing markets in Miami-Dade, Broward and Palm Beach counties, concentrating on areas east of I-95 and near bodies of water. During the 8-year span covered in the report, 244 new condo projects were created in those markets, for a total of nearly 50,000 units.

The epicenter of the building, sales and developer default activity has been in downtown Miami and Brickell, where more condo units were built in the 2000s than in the previous four decades combined.

About 18,675 new condos have sold in the downtown area in the last 8 years, totaling about 84 percent of the inventory, according to the report, based on county records.

Developers ``built 23,000 condos, and when over 80 percent have been sold and occupied, clearly it tells you that this is where people want to live and invest,'' said Zabezhinsky. ``The condos have single handedly helped lead the transformation of downtown Miami into a 24/7 global city.''

Read more: http://www.miamiherald.com/2011/01/27/2036345/condo-inventory-detailed-in-new.html#ixzz1CF5lxQfd

URBANITY REPORTS

January 27th, 2011, 04:51 PM

The boom began in 2002?

casamagda

January 27th, 2011, 10:51 PM

Downtown Miami to get 6 new restaurants, clubs
http://i137.photobucket.com/albums/q236/jcmrls1293/Macy_s_West_building_mhb_ho_embedded_prod_affiliate_56.jpgLooks like the Jazz Club is going to be called Avenue D by the guys that own Transit Lounge, there will be a Latin American Coffee Concept, and a Smoothie King so far.
There is also going to be a 7-11 accross the street on the Northwest corner of Flagler and Miami Ave. Oh thank heaven.

Endeavor305

January 28th, 2011, 02:41 AM

The boom began in 2002?

incredible huh

QuantumX

January 28th, 2011, 12:01 PM

The boom began in 2002?

Did you think it was a different year?

URBANITY REPORTS

January 28th, 2011, 02:54 PM

2005 maybe?

QuantumX

January 29th, 2011, 01:17 PM

2005 maybe?

No, it was in full swing by that time. Then, the music stopped in mid-2006.

stevensp

January 29th, 2011, 07:20 PM

the development looks quite interesting though
some nice projects, interesting new ideas..

dave8721

February 17th, 2011, 09:19 PM

The Wachovia is now the Southeast Finacial Center

http://www.globest.com/news/1853_1853/miami/307160-1.html

Wachovia Financial Center Rebrands Towers

By Jennifer LeClaire

MIAMI-Southeast Financial Center. That’s the new name of Florida’s tallest and largest office building. The 1.225 million-square-foot tower in the heart of Miami’s Central Business District is repositioning itself to reflect its new direction as a business hub.

"The decision to rename the property reflects the regal business stature that has been in place for over 25 years," says Donald Cartwright, director of Leasing with Cushman & Wakefield, on behalf of the property owner, institutional investors advised by J.P. Morgan Asset Management - Global Real Assets. "Southeast Financial Center is home to the most prestigious corporate users in Miami and represents the epicenter for the city's business as well as the gateway to the Americas."

The tower was previously known as Wachovia Financial Center, named after one of its tenants, which continues to lease 130,000 square feet of space for the next six years. Other tenants include Deloitte, Cushman & Wakefield of Florida, and White & Case, LLP.

The building recently inked deals with new retail tenants such as The Newsstand Café by Books & Books after completing capital improvements. Southeast Financial Center has added granite pedestrian walkways, a made over park setting with shade trees, foliage upgrades and planters, new lighting, and a pick-up and drop-off location. More than 1 million square feet of the tower is occupied, but Bilzin Sumberg left the building in a flight to quality to 1450 Brickell. Other big name tenants also exited last year.

“Wachovia Financial Center has no choice but to rebrand following the loss of its two anchor tenants within the past year,” Tadd Schwartz, principal of Schwartz Media Strategies, a Miami-based public relations and marketing firm, tells GlobeSt.com. Schwartz represents the Miami Downtown Development Authority, 1450 Brickell, and Bilzin Sumberg.

“The longer they stick with the old name, the longer they give life to the fact that they are now without a name tenant,” Schwartz says. “Instead, they chose a name that reflects downtown Miami’s strengthened positioning as a magnet for corporate office users. This was their best available move after watching two of their largest corporate tenants depart for newer assets in the market.”

Located at 200 South Biscayne Boulevard in downtown Miami, Southeast Financial Center offers two buildings: a 55-story class A Office Tower distinguished by its striking “saw-tooth” design on the northeast corner of the façade and a 15-story Annex Building which houses the popular Downtown Athletic Club and 1,200 parking spaces.

QuantumX

February 17th, 2011, 10:03 PM

Spellbound will be happy for this news considering he still calls the building the Southeast Financial Center after nearly 30 years.:):cheers:

spellbound

February 17th, 2011, 11:25 PM

Spellbound will be happy for this news considering he still calls the building the Southeast Financial Center after nearly 30 years.:):cheers:

Somebody has to carry the torch for good old Southeast Bank. And it'll always be JOE ROBBIE Stadium. ,too! :cheers:

Miami High Rise

February 18th, 2011, 10:56 PM

There used to be tennis courts here. Bach in late November it was just piles of dirt. Now it's on it's third or so story. The address is ~315 NE 2nd Avenue in Downtown Miami. There's still tones of construction going on in Miami, it's just all in midrises and stuff about 10-20 stories, and it's all around the outskirts. I've seen like 20 3/4 built midrises that aren't dead either around the different edge cities.

Most of them aren't very interesting, there's a new Hampton topped out in downtown/brickell that's nothing too tall, just a regular hampton only it's got a parking garage in it. But this thing being right in downtown I assume it's not going to be very short. It delays the metromover, every so often an announcement comes on in all the stations saying there will be intermittent 5-8 minute delays "due to construction cranes in downtown". It's literally touching the McDonalds next to it. http://upload.wikimedia.org/wikipedia/commons/7/72/McDonalds,_Downtown_Miami,_NE_2nd_Avenue.JPG

Miami High Rise

February 18th, 2011, 11:08 PM

That's actually the short side of it. It's pretty long the other way; like this:
http://upload.wikimedia.org/wikipedia/commons/0/09/Construction_in_Downtown_Miami,_NE_2nd_Avenue.JPG

It's got no concrete core or steel skeleton so it probably won't be a skyscraper or anything but it's still a lot more than a tennis court.

Here's another one:
http://upload.wikimedia.org/wikipedia/commons/0/08/Construction_tower_crane_on_NE_2nd_Ave,_Downtown_Miami.JPG

dave8721

February 18th, 2011, 11:16 PM

Thats the new MDC building. Its going to be 6 stories and have classrooms and a student union/"wellness center" and food court.

spellbound

February 24th, 2011, 11:08 PM

Vizcayne?!? Somebody actually got paid to come up with that??

Downtown Miami condo project to be renamed ‘Vizcayne’ .

BY TOLUSE OLORUNNIPA
tolorunnipa@MiamiHerald.com

The new owner of an 849-unit Miami condo project, long known as Everglades on the Bay, is changing the twin towers’ name to Vizcayne.

The name-change was supposed to be unveiled Thursday at noon with an extravagant show featuring “sky-writer” airplanes and more than a mile worth of sky-writing over downtown Miami, but the show never materialized.

The condo, which was developed by Mexico-based Cabi downtown and opened in 2008 fell into foreclosure in 2009. New York-based Rockwood Capital bought the property, at 244 Biscayne Blvd., for $141 million, and is planning to relaunch the project next month. Condos there range from $200,000 to more than $1 million.

QuantumX

February 25th, 2011, 02:03 AM

Miami High Rise

March 3rd, 2011, 08:16 PM

The MDC building is getting built pretty quick, unlike the Brickell World Plaza, it already has a whole 'nother floor. http://upload.wikimedia.org/wikipedia/commons/6/66/New_Miami-Dade_College_center_construction.JPG

URBANITY REPORTS

March 3rd, 2011, 08:39 PM

Good, it was horrible to see one empty lot there.

Miami High Rise

March 5th, 2011, 07:50 PM

Here's another one I took today that doesn't have the sign in the way. It's funny how it's literally touching the McDonald's. I'll take another one from across the street looking towards the McDonald's since I have nothing to do today.

http://farm6.static.flickr.com/5015/5499953920_0062f383bf_b.jpg

Miami High Rise

March 5th, 2011, 08:08 PM

Best looking building in Miami:

http://farm6.static.flickr.com/5174/5494505103_951064998a_z.jpg

Also, is there a place to post about general construction in the Miami area, pictures or so.

Miami High Rise

March 6th, 2011, 09:28 AM

Here's another couple buildings going up around Miami. The first one is in Downtown but the next of is way off on the west side of Miami.

Right in downtown
http://farm6.static.flickr.com/5251/5501261595_1dd596a364_z.jpg

Way out to the west
http://farm6.static.flickr.com/5212/5494557873_c495a1f2b8_z.jpg

UMdev

March 9th, 2011, 07:28 PM

Miami High Rise,

That first picture isn't downtown it's in Brickell. It hasn't been worked on in almost a year.

bigswingingschlong

March 9th, 2011, 09:14 PM

...

UMdev

March 9th, 2011, 09:56 PM

isnt that supposed to be element hotel brickell?

its a starwood, same owner of sheraton and westin

No, the Brickell starwood hotel is the Aloft brand and is being built on SW12th street behind Southside Elementary school and across the street from Axis. The picture of the the first building is located at the corner of SW 10th st and SW 2nd ave. I can see both of them from my balcony. The Starwood hotel is being worked on daily while I've haven't seen anyone work on the other building in at least 8 months.

I'm curious as to where the second picture is from though.

Miami High Rise

March 9th, 2011, 10:06 PM

No, the Brickell starwood hotel is the Aloft brand and is being built on SW12th street behind Southside Elementary school and across the street from Axis. The picture of the the first building is located at the corner of SW 10th st and SW 2nd ave. I can see both of them from my balcony. The Starwood hotel is being worked on daily while I've haven't seen anyone work on the other building in at least 8 months.

I'm curious as to where the second picture is from though.

It's way out to the west. Around SW 22nd/Coral Way or so. It's on a border between two districts, because right across the road to the west of it, it turns to a suburban community.

Here's a view looking east from where I took it from

http://www.flickr.com/photos/rcadimensia/5495150940/in/photostream/

Here's another view of the top of it from the west

http://www.flickr.com/photos/rcadimensia/5494553443/in/photostream/

Here's an intersection located just east of it:

http://www.flickr.com/photos/rcadimensia/5494559171/sizes/l/in/photostream/

UMdev

March 9th, 2011, 10:13 PM

It's way out to the west. Around SW 22nd/Coral Way or so. It's on a border between two districts, because right across the road to the west of it, it turns to a suburban community.

Here's a view looking east from where I took it from

http://www.flickr.com/photos/rcadimensia/5495150940/in/photostream/

Here's another view of the top of it from the west

http://www.flickr.com/photos/rcadimensia/5494553443/in/photostream/

Here's an intersection located just east of it:

http://www.flickr.com/photos/rcadimensia/5494559171/sizes/l/in/photostream/

Oh, OK. That looks like 396 Alhambra. You threw me off when you said out west. That is in Coral Gables.

UMdev

March 9th, 2011, 10:35 PM

Here is a picture of both buildings we were talking about. The one on the left is the Starwood hotel that should be done later this year and the one on the right is Miami High Rise's first picture:

http://www.flickr.com/photos/60396128@N05/5513

bigswingingschlong

March 10th, 2011, 11:05 PM

...

Miami High Rise

March 10th, 2011, 11:48 PM

isn't the hotel under construction just south of axis a hampton inn? I thought the starwood aloft is under construction west of the metromover.

I think they are both around 20 floors.

Yes, the Hampton Inn is being built near the metromover in brickell, and is active. It was built fast it looks to be almost done structurally.

UMdev

March 11th, 2011, 12:21 AM

Yes, the Hampton Inn is being built near the metromover in brickell, and is active. It was built fast it looks to be almost done structurally.

Yeah you guys are right, the Starwood Aloft hotel is west of the metromover. It's pretty wierd because they issed a press release in January that it woud open this year and there hasn't been any work on the site for a while. Besides the fact that it is in a horrible location. When they said it was "steps" from Mary Brickell Village and that it would be open soon I assumend it was they bought the Hapton In location.

I guess it will start to help the area west of the metromover, because that's about as far west as I go!

Miami High Rise

March 11th, 2011, 12:49 AM

Yeah you guys are right, the Starwood Aloft hotel is west of the metromover. It's pretty wierd because they issed a press release in January that it woud open this year and there hasn't been any work on the site for a while. Besides the fact that it is in a horrible location. When they said it was "steps" from Mary Brickell Village and that it would be open soon I assumend it was they bought the Hapton In location.

I guess it will start to help the area west of the metromover, because that's about as far west as I go!
^^
Well in that case tha Alhambra is way out west for you! :lol:

UMdev

March 11th, 2011, 05:07 AM

^^
Well in that case tha Alhambra is way out west for you! :lol:

No I go further west, I was just talking about walking in Brickell. The neighborhood gets a little sketchy once you go west of the metrorail. Which is why I'm surprised that they are doing that hotel in that area.

I'd stay in a nice hotel if it was right in Mary Brickell Village but that location is a tough sell. Go to google and look at the street view at the corner of SW 10th st. and SW 2nd ave.

The good news is that the other building (Brickell Station Lofts) on that block on the way towards Mary Brickell Village is brand new so as long as you exit the building on SW 10th St and walk only east you be fine.

Who know, maybe this will encourage more development on that side. But again I don't see this finishing anytime soon considering they haven't worked on it while.

UMdev

March 12th, 2011, 01:49 AM

I recently heard that the developers of 900 Biscayne are trying to get going on 700 Biscayne. I guess they have found a shortage of larger 3 and 4 bedroom and feel they can target that market.

I believe they bought the lot for around $20m and need to get close to $500 a square foot. I believe that's about what they're getting now on the 3 and 4 bedrooms at 900.

Miami High Rise

March 13th, 2011, 01:35 AM

What's at 700 Biscayne now?

bigswingingschlong

March 13th, 2011, 03:21 AM

////

URBANITY REPORTS

March 13th, 2011, 07:41 AM

:uh::eek:

UMdev

March 13th, 2011, 06:41 PM

you are partially correct.

this week, terra group bought the note on 700 biscayne (formerly known as paramount park). terra group already owns the land next door at 600 biscayne, know as the freedom tower project.

it is unknown if they will build paramount park as originally approved. but i would guess it more likely that they build 600 biscayne first.

article in this weeks sfbj - 3rd item down:
http://www.bizjournals.com/southflorida/stories/2010/03/08/focus5.html

paramount park:
http://img478.imageshack.us/img478/8959/par11xq.jpg

Terra Group bought that note over a year ago. Look at the date on the article its from March 2010 not this year. That's old news.

It makes no real sense to build right now and 600 Biscayne is a long ways off. The only reason 700 Biscayne makes sense is because they feel their is a shortage of larger 3 and 4 bedrooms and 700 Biscayne will cater towards that.

A lot of the Venezuelans, Brazilians, etc. that are coming here and buying condos need a 3rd and 4th bedroom for relatives, friends, etc. These units did great at 900 Biscayne.

bigswingingschlong

March 16th, 2011, 10:30 PM

...

UMdev

March 17th, 2011, 01:26 AM

looks like they took title in august 2010

Probably took a while for it to get recorded.

I'm a little confused about the point you are trying to make. I heard from another developer that they may start on 700 Biscayne because of the shortage of 3 and 4 bedrooms. You then said that they might get going on 600 Biscayne instead and that they bought the 700 Biscayne lot last week. Now you are saying that they took title to the lot in August 2010. Do you know something about the 600 Biscayne lot to think they will start that first or did you read the march 2010 article and mistake it for march 2011? I'm only going off of hearsay so I'm curious.

Miami High Rise

March 17th, 2011, 02:22 AM

Not to interupt and this is prolbably the wrong f**in thread anyway but what's that new devlopment in Government Center between the library and the police department? Lot of ground work happening there.

Exploratus

March 17th, 2011, 02:39 PM

not sure which lot you are talking about, but there is a children's courthouse with a small park in front of it planned for one of the lots there that is supposed to start any day.

Miami High Rise

March 17th, 2011, 04:10 PM

Oh how exciting, can't wait to watch that 'go vertical.' It wouldn't be like me to be the first one to notice something good, anyway. And do you mean children's court yard, not children's court house?

dave8721

March 17th, 2011, 05:28 PM

Exploratus

March 17th, 2011, 09:42 PM

http://miami.cbslocal.com/2011/02/08/miamis-new-childrens-courthouse-becoming-reality/

http://www.hok.com/cfm/ProjectDetailArchive.cfm?Tag=Justice&projectID=1277&TagList=Architecture^Justice^United%20States

Miami High Rise

March 18th, 2011, 02:15 AM

The ever growing MDC building, now at 5 floors. The scaffolding has been removed from the lower levels to the higher levels, it looks so different.

Well this for now: http://www.flickr.com/photos/rcadimensia

This has no thread because it's not interesting enough obviously but it's the best thing happening in downtown for now, and it's better than a the tennis court or parking lot or whatever it was!

FTL Beach Bum

March 18th, 2011, 04:54 AM

600 Biscayne
700 Biscayne

700 looks great, I don't seem to recall the renderings of 600.

But I find it intriguing that with all the discussions of purchase prices and property values, there has been very little, if any discussion whatsoever that by 2013, nearby residents could very well share the neighborhood with rumbling freight trains and horn blasts...As the FEC revives rail operations (http://www.progressiverailroading.com/news/article/Florida-DOT-to-fund-Miami-ports-dredging-work-USDOT-to-issue-TIGER-II-grant-for-Maine-rail-rehab--25949) to and from the port on its existing lead with a $22.7 million grant (http://www.dot.gov/recovery/ost/tigerii/tiger2grantinfo.pdf) awarded by the USDOT last October. Heck, anything built on the 600 parcel will have about 20 feet separating it from the track, and anything at 700 will certainly feel the rumble.

Could be now that Terra's not just waiting for housing demand to open up...

http://img846.imageshack.us/img846/613/65227355.jpg

Miami High Rise

March 18th, 2011, 06:04 AM

I was gonna say something about how much that'll change things downtown if they bring the railroad back. But, I would assume that with the tunnel, and the fact that the "doubling of port traffic" won't happen overnight, that even if brought back to service, trains.to the port will be rare. Quite frankly, downtown Miami is just not the place for trains.

Endeavor305

March 18th, 2011, 07:54 AM

Wow, trains running by high-rise condos. That is G-H-E-T-T-O.

Miami High Rise

March 18th, 2011, 08:13 AM

Wow, trains running by high-rise condos. That is G-H-E-T-T-O.

Exactly, I just can't see freight traffic coming back after people adjusted and got used to being rid of it when it got damaged. Really it shouldn't be necessary. Port of Miami is not 'that" busy, in fact it's a hole in the wall compared to the busiest freight ports in the country. Look at the traffic/trucks at Port Boulevard. It's not that bad, and that's the WHOLE entirety of the port traffic you're seeing, freight and cruise. With the tunnel addition making 395 themuch better way, that intersection and the port bridge will die, I imagine. But anyway the highway will handle the container trucks sooo much better that intermodal freight via train should not be necessary. Didn't they use the port tracks up until 2003 when that hurricane damaged them? It hasn't been that long, but long enough that people will not want it back.

FTL Beach Bum

March 18th, 2011, 07:57 PM

Exactly, I just can't see freight traffic coming back after people adjusted and got used to being rid of it when it got damaged. Really it shouldn't be necessary. Port of Miami is not 'that" busy, in fact it's a hole in the wall compared to the busiest freight ports in the country.

According to the previously-linked article, the combined dredging of the channel and the expansion of the Panama Canal set to complete in 2014 will double the port's annual output and make it the third U.S. eastern seaport capable of serving the world’s largest container-carrying vessels. This will certainly elevate it to anything but "hole in the wall" status.

As is, the FEC routinely runs at least four daily intermodal/trailer trains out of Hialeah (#202, 210, 222, 226) at about 7,000-10,000' a pop, I'm assuming the majority coming through the port. Even if you split their current volume of movements at only half having originated at the port, that's still two nightly train movements through downtown...and you can only imagine the additional loadings once the dredging and additional Canal widening are complete the following year.

So here's the irony at present: All these trucks that should soon be diverted to the 395 with a new $1 billion-plus tunnel...Where were the vast majority of these movements headed to begin with? Right to the FEC Hialeah yard...movements which the FEC will soon bypass altogether via freight service on their own, with the help of a "mere" $22.7 million capital grant from the USDOT.

And where does this leave the residents of Miami-Dade? Footing some $400 million toward a tunnel which will soon become unnecessary and obsolete for one of its primary purposes (diverting noisy, dirty cargo traffic), decreasing in necessity for another primary purpose (diverting cruise traffic...which it is losing to Port Everglades), and to put icing on the cake, deal not with a mass of trucks and buses clogging stop-and-go traffic, but with 100+ car lumbering freight trains at all hours of the day and night putting traffic on Biscayne Blvd at a dead standstill...which will soon only increase in number.

Just imagine being stopped for this when you're trying to get home after a late night...Or worse yet, you live only a block away and you're trying to sleep...

I7iGzXD1BUg

:lol:

Miami High Rise

March 19th, 2011, 03:51 AM

spellbound

March 19th, 2011, 10:34 AM

I think that is half the point of the tunnel, a desperate attempt to attract more toiurists to moiami and the cruise port. Isn't it true that port of the everglades has an interstate going directly up to it? Even if it doesn't I'm sure it's easier that port of miami to get to. The tunnel may help change that. It will give us an interstate (395) direct to the port. Right behind the freedom tower someone rolled down their window and asked me where the port was.:nuts: The tunnel should help a lot in that area. If nothing else, it will be cool :)

I could be wrong, but I think the port tunnel is designed to pretty much be solely directed at commercial traffic (i.e. trucks, especially) and not even open to other traffic. The 'tourist' route to the port---the cruise segment--- will remain the same, no? The way it's planned, I don't think too many non truck drivers will ever even see the tunnel aside from driving past it. Definitely not a tourist site.

As for Port Everglades, yes, I-595 pretty much has its Eastern terminus right at their doorstep (along with feeding right into FLL). Definitely very efficient in how it connects Broward's two most important economic entities. You should 'Google Earth' that area sometime. The combined area of Port Everglades and FLL (they practically overlap) is absolutely MASSIVE.

Miami High Rise

March 19th, 2011, 12:03 PM

UMdev

March 19th, 2011, 05:20 PM

Ummm, I don't think that's right at all. For one thing, how the heck would they stop cars from using it? And it doesn't matter anyway, that's what it's for. Where the heck did you hear your story from, the guy at the exit ramp?

Have you not even seen the promotinal video?
http://m.youtube.com/watch?xl=xl_blazer&v=uq2Zj0sH1jE

http://www.youtube.com/watch?v=uq2Zj0sH1jE

Wow I haven't watched that in forever, it's f***ing boring.

Miami High Rise,

While it will be open to all vehicles, the tunnel is being designed for commercial traffic. That's the whole point of the tunnel. It's being designed to direct the commercial port traffic out of downtown.

Aceventura

March 19th, 2011, 06:01 PM

The website linked below states passenger vehicles will have the choice of using the bridge or tunnel.

http://www.portofmiamitunnel.com/faqs/technical/

spellbound

March 19th, 2011, 08:11 PM

Where the heck did you hear your story from, the guy at the exit ramp?

Yeah, I think it was the same guy who told you the tunnel was a "desperate attempt to attract more tourists to Miami." His name was 'Sodermalm' or something like that. :lol:

spellbound

March 19th, 2011, 08:14 PM

http://www.youtube.com/watch?v=uq2Zj0sH1jE

Wow I haven't watched that in forever, it's f***ing boring.

Agreed. It needs a chase scene. :cheers:

Miami High Rise

March 19th, 2011, 08:32 PM

Well, I would think that it would be the dumbass tourists who would be having a harder time getting to the port through the city, such as the one that couldn't find their way and asked me on SE 2nd ave behind the freedom tower about 500 feet from port boulevard.:nuts: Also, the video only shows cars using the tunnel, but maybe that's because the render2.0 people that made it thought trucks were too difficult. Lol it also shows pretty optimistically light traffic for a daytime hour :lol:

Endeavor305

March 20th, 2011, 07:17 PM

Agreed. It needs a chase scene. :cheers:

That'll work. Or some hot women in g-strings. :cheers:

casamagda

March 21st, 2011, 05:29 AM

casamagda

March 21st, 2011, 05:49 AM

And where does this leave the residents of Miami-Dade? Footing some $400 million toward a tunnel which will soon become unnecessary and obsolete for one of its primary purposes
The residents of Miami-Dade are not paying $400 Million toward a tunnel. The financing comes from a variety of sources and is a private public partnership, revenues from tolls will be used to pay off the construction company and pay for the operations and maintenance of the tunnel going forward.
This project won international finance awards for how progressive the deal was structured to keep the construction firm in the deal long after completion, to ensure that the job is done well, on time, and operates efficiently. The structure also minimizes the risk of cost overruns to taxpayers.
According to my friend at the Port of Miami, without the tunnel (and only utilizing the train and Dodge Isl. Bridge) the Port would lose so much business that the Port would be rendered useless for cargo.
More money is generated by cargo business than the cruise business by a very significant factor.

Miami High Rise

March 21st, 2011, 09:58 AM

The reason more money is generated by cargo than cruise traffic is that those cruise lines probably pay unfairly low docking fees. I saw a book on it at the library, it caught my attention, can't remember the name. It was about that and other "cruise industry controversies."

Aceventura

March 21st, 2011, 09:37 PM

^^ R.I.P. Gerry.

QuantumX

March 22nd, 2011, 07:28 PM

"And it's taken you so long, to find out
You were wrong, when you thought
It held everything"

^^ R.I.P. Gerry.

FTL Beach Bum

April 11th, 2011, 05:20 AM

...As the FEC revives rail operations (http://www.progressiverailroading.com/news/article/Florida-DOT-to-fund-Miami-ports-dredging-work-USDOT-to-issue-TIGER-II-grant-for-Maine-rail-rehab--25949) to and from the port on its existing lead with a $22.7 million grant (http://www.dot.gov/recovery/ost/tigerii/tiger2grantinfo.pdf) awarded by the USDOT last October.

Update:

Per the FEC Railway Yahoo Group (http://finance.groups.yahoo.com/group/fecrailway/), the railway just brought down new rail for approximately six miles' worth of track to rejuvenate their port lead between the wye at Little River (~NE 71st Street) and downtown. It will be awhile before they actually lay the rail, as they're just dropping it off alongside the exiting track right now. This operation started Saturday, with a few private photos of the drop available to group members showing specialized rail maintenance cars placing new track alongside the old, with the Opera Tower and Paramount Bay off in the distance to the east.

It also stated that FEC CEO James Hertwig expects to be hauling containers out of the port by first quarter next year.

Here are some public photos of the rail being transported down from Jacksonville:

http://www.railpictures.net/viewphoto.php?id=359586

http://www.railpictures.net/viewphoto.php?id=359561

Guys, this is probably gonna happen sooner than you think...

Miami High Rise

April 11th, 2011, 05:27 AM

Only that aspect will, nothing else will finish ahead of schedule; the tunnel will prolly be late and cost 2 billion.

But great news on the rail project! Wow, operational by next year! Last I knew they were just hoping to do it by 2014, there is still the intermodal hub, the "Flagler Logistics Hub," to do, though.

http://www.miamitodaynews.com/news/110310/story7.shtml

Obfuscatus

April 11th, 2011, 05:31 AM

...

Miami High Rise

April 11th, 2011, 05:46 AM

^^
Really? I never heard that. Did you get that from a first person source?

Obfuscatus

April 11th, 2011, 05:56 AM

...

FTL Beach Bum

April 11th, 2011, 06:01 AM

Those that receive the print-edition of the Sun-Sentinel, today's Outlook section has an article titled "Ships, Trains, & Automobiles Where Florida transportation is Headed" featuring an entire column by FEC CEO Hertwig. Some highlights relevant to Miami:

Many will argue that South Florida missed its chance as a major shipping hub. I disagree. So do policymakers. The widening of the Panama Canal - slated for completion 2014 - allows South Florida another chance to compete for its share of cargo from post-Panama mega-ships.

The U.S. Department of Transportation last year provided the Port of Miami with $22.767 million to build an on-dock rail facility. FEC is investing $10.9 million to upgrade its tracks, the Florida Department of Transportation is matching our $10.9 million, and Miami-Dade is investing $4.8 million - a true public-private partnership.

And with regard to diverting trucks from surface streets and preempting the need for the tunnel...

Moving freight by rail directly from ports also reduces the number of trucks on highways. Currently, 60,000 trucks annually transport goods between the Port of Miami and our Hialeah rail yard[.] FEC can convert these trips to rail, allowing truckers to move additional cargo within South Florida.

I would expect their on-dock rail facility to ramp up rather quickly when complete, despite the progress of the Panama Canal or the dredging of the port: The quicker they can get their current goods right onto a well car and out the door, the less time and money is wasted waiting for hundreds of containers to be trucked halfway across a city...Which still have to be converted over to well car.

The Panama Canal project and Miami dredging project won't help to speed up the rail project, but they will lead to increasing the total volume that flows through.

Miami High Rise

April 11th, 2011, 06:04 AM

^^
Yeah but the rail to the port is for containers.

Oh yeah, I just thought, what good is the hub if not directly connected to a free highway, ie not the stupid dolphin or airport expy, but it is right next to the (soon to be motherhighway) Palmetto, right? Is that what that new ramp you see heading over the Palmetto is all about?

And this was in response to obfactus or whatever

Obfuscatus

April 11th, 2011, 06:14 AM

...

FTL Beach Bum

April 11th, 2011, 06:15 AM

Nice, the rail is also expected to eventually carry passenger traffic to the port.

As of July 2010, not anymore:

The Build Alternative was identified to provide intercity passenger rail service for Florida east coast from Jacksonville to Miami. The Build Alternative would restore passenger service on the existing FEC from Jacksonville to West Palm Beach. In West Palm Beach, the alternative would use the Northwood Crossover diverge to the South Florida Railway Corridor (SFRC [My note: Tri-Rail Line]), which is an existing railway approximately 2,100 feet west of the FEC. The Build Alternative would follow the existing Amtrak route on the SFRC from West Palm Beach to Miami. The segment of the FEC from Jacksonville to West Palm Beach is a single track railroad while the segment of the SFRC from West Palm Beach to Miami is a double track railroad. The existing FEC freight corridor south of the Northwood Crossover was considered as an alternative alignment for the proposed passenger rail service from West Palm Beach to Miami. This alignment would require additional infrastructure and stations along the freight corridor within highly urbanized areas. This alternative alignment would involve substantially higher capital costs, right-of-way costs and environmental impacts as compared to the Preferred Alternative (the existing Amtrak route) and was therefore, eliminated from detailed analysis.
(my emphasis in bold/underline)

http://www.dot.state.fl.us/rail/FECAmtrak/08%20-%20Service%20Development%20Plan.pdf