Walmart Supercenter Opens in Davie, Adds 300 Jobs

By Georgiana Mihaila, Associate Editor

A grand opening ceremony was held on April 10 for the new 154,400-square-foot Walmart Supercenter, where residents gathered to celebrate both the new retail options and the addition of 300 new jobs to the town of Davie, Fla.

The town’s residents, Mayor Judy Paul and local organizations such as the Davie Police Athletic League, Ease Foundation Inc. and the Make-A-Wish Foundation of Southern Florida attended the opening. The organizations were given an extra reason to celebrate, as they were presented with $3,750 in grants from Walmart and the Walmart Foundation. Cowboys on horseback served as greeters to celebrate the store’s grand opening in ‘horse country.’

“Davie is looking forward to Walmart’s strong community commitment,” said Davie Mayor Judy Paul. “Walmart’s campus is a tribute to Davie’s mission of green space and will hopefully be a model for other communities. The employment of approximately 300 people, many local residents, will certainly help the area economy.”

The store features quality, value-priced general merchandise including apparel, electronics, toys, sporting goods, and lawn and garden items. Additionally, unique to this store—which is located in ‘horse country’—is an agricultural feed supply section, where local residents can buy feed for farm animals. It also offers a full line of groceries, including organic and natural selections in addition to local favorites. The store offers a pharmacy with a full range of products and services.

It is estimated that solid tenant demand and minimal retail construction will push vacancy in the area way down in 2013, generating the most significant rent growth since the recession struck. For the Miami-Dade area, developers will add 450,000 square feet in 2013, with the largest project underway being the 520,000-square-foot retail component of the Brickell CitiCentre, which is to be delivered to the market in 2015.

Chart Courtesy of Marcus & Millichap

South Beach ACE Unveils Breathtaking Proposal for Miami Beach Convention Center

By Georgiana Mihaila, Associate Editor

With the competition for the spot to assist the City of Miami Beach in the redevelopment of the Miami Beach Convention Center coming down to two contenders, South Beach ACE recently unveiled its master plan. The company’s development team consists of New York City-based firm Tishman, which had a major input in the development of the original World Trade Center twin towers and the currently under-construction One World Trade Center; Miami Beach development firm UIA Management, the firm behind the 1111 Lincoln Road project; and international architecture firm OMA, led by Pritzker Prize-winner Rem Koolhaas.

The team is looking to breathe life into one of Miami’s Beach most underutilized public sites by delivering a fully revamped convention center capable of luring major events from around the world, an iconic hotel, inviting green spaces, low-density retail uses, and cultural venues, ArchDaily reports. Elements of the master plan that stand out are a comprehensive renovation of the Jackie Gleason Theater and a strategy to increase the site’s connectivity by adding multiple connections with Lincoln Road and surrounding neighborhoods.

South Beach ACE continues to seek community feedback on their attempt to reconnect the city and the convention center by creating a green, cultural and civic heart for Miami Beach centered around a contemporary, first class convention space. Feedback is welcomed on the partnership’s website and at a series of public meetings hosted by the city.

The contending developer—Portman CMC, led by developer Jack Portman—will be presenting its master plan to the community in May. So far, the developer has announced the addition of a multi-purpose space/ballroom and meeting space; a new convention center headquarter hotel; outdoor public spaces; parking; restaurants; entertainment; retail and other commercial uses that are economically viable; and residences.

Local 10 reports that Portman CMC is also working with Cirque du Soleil, having indicated plans to bring the art-inspired circus act to South Beach. The Miami Beach Commission is expected to choose the winning development team over the summer.

Image courtesy of South Beach ACE Facebook

Formerly Distressed Harvard House Re-opens after Major Renovation

By Georgiana Mihaila, Associate Editor

A formerly distressed North Miami Beach apartment complex recently reopened after undergoing an $8 million redevelopment process led by nonprofit affordable housing developers Carrfour Supportive Housing and the National Housing Trust.

The redevelopment of Harvard House Apartments was made possible through support from the U.S. Department of Housing and Urban Development’s (HUD) Neighborhood Stabilization Program (NSP), which aims to revitalize neighborhoods that have been negatively impacted by properties that were foreclosed upon or abandoned as a result of the recession.

“Harvard House is a perfect example of how the federal government’s NSP program is breathing new life into local communities,” said Stephanie Berman, president of Carrfour Supportive Housing. “Beyond providing much-needed housing for families and individuals in need, we rescued an asset from distress, thus injecting new life into a deteriorating neighborhood. We are not only rebuilding apartments, we are rebuilding an entire community.”

The reopening was celebrated on March 19, when developers Carrfour and NHT organized a special reception and ribbon-cutting attended by several elected and non-elected government officials, including NSP Team Leader John Laswick of the U.S. HUD Office in Washington, North Miami Beach Mayor George Vallejo, and Miami-Dade County Commissioner Sally A. Heyman.

The newly redeveloped community will now offer affordable housing to approximately 140 low-income residents. Located at 2020 NE 169th St. in North Miami Beach, the apartment community consists of 56 newly-renovated units designated for families earning at or below 50 percent of the area’s median income.

Carrfour Supportive Housing, the non-profit developer that rescued Harvard House from foreclosure and redeveloped it, has completed the acquisition of two similar complexes in Miami. The two projects—Tequesta Knoll and Hampton Village—will also be delivered to the market by 2014, with all three newly converted affordable housing communities offering homes for nearly 800 low-income residents in the area.

Image courtesy of Schwartz Media Strategies

SBE, Related Group Join Forces on $300M Condo Hotel

By Georgiana Mihaila, Associate Editor

The Wall Street Journal reports that Miami’s ‘condo king’ Jorge Perez and Los Angeles nightclub entrepreneur Sam Nazarian will be working together on a $300 million condo hotel project planned for downtown Miami.

To be located at 1300 S. Miami Ave, the SLS Brickell condo-hotel would feature 133 hotel rooms—owned by both Perez’s Related Group and Nazarian’s SBE Entertainment Group—and 450 condo units that are to be developed and owned by the Related Group. The hotel will also feature 15,000 square feet of meeting space, a spa, two pools and more than 10,000 square feet of restaurants, lounges and bars. The project will be the first SLS-branded residences and the second hotel in Miami-Dade.

Projected to be 52 stories tall, SLS Brickell will rise on the site of the former Infinity II project. The first 10 stories will consist of the luxurious Philippe Starck-designed hotel, with the rest representing the residential component. The developers will retain some SLS partners for the new project, such as Chef Jose Andres—famous for his SLS Hotel South Beach restaurant, The Bazaar—to be in charge of food and beverage venues along with Michael Schwartz.

Related Group will be opening a sales center for the condo units later this month. While hotel rates are expected to be in the high-$200 range, condo prices will average over $600,000, or approximately $500 per square foot. The SLS Brickell condo-hotel is set for completion in 2015.

Related Group bought the 1.29-acre mixed-use development site at the intersection of Coral Way and South Miami Avenue in November 2012. The developer paid $18.5 million for the land, approved for the development of a 556-unit residential tower plus 15,049 square feet of retail space and 38,357 square feet of office space.

Upscale $400M Marina Palms Condo Project Opens Extravagant Sales Center

By Georgiana Mihaila, Associate Editor

Developers Plaza Group and DevStar Group recently opened a state-of-the-art sales center for their $400 million Marina Palms Yacht Club & Residences project—the first upscale condominium and marina destination to open in Miami-Dade County in 20 years.

The 10,000-square-foot sales center was specially designed to reflect the luxury, spaciousness and attention to detail of the upcoming Marina Palms Yacht Club & Residences. A wall of glass up to 15 feet in height offers a panoramic view eastward over what will be the $400 million development’s centerpiece—the full-service, 112-slip marina.

There is also a full-scale, 2,156-square-foot model unit that represents a two-bedroom, two-and-one-half bathroom residence tastefully designed by Interiors by Steven G. It also features available fixtures, finishes and appliances like Snaidero cabinetry, Wolf and Subzero appliances, and stone counter tops.

Located on a 14-acre waterfront property at the lighted intersection at 172nd Street and Biscayne Boulevard, Marina Palms Yacht Club & Residences consists of two 25-story residential towers with a combined total of 468 units. The development will also feature a 112-slip, full-service marina and yacht club and will benefit from full-time, on-site dock master and yacht club concierge, fuel service, dock-side Wi-Fi, sundry store and space to accommodate boats up to 90 feet in length.

When Plaza Group/DevStar Group first announced the project last month, the joint venture voiced its belief that market conditions and residential realities are strengthening the development’s prospects. Unit prices will start in the low-$300 range per square foot, with the spacious two-, three- and four-bedroom condos trying to lure traditional Northeastern and Canadian residents, affluent Latin American families looking for a seasonal home, and locals who want to keep their boat or yacht behind their residence—with unobstructed water views in all directions.

Image via Marina Palms Yacht Club & Residences’ Facebook Page

IKEA Sets Summer 2014 Opening Date for Miami-Dade Store

By Georgiana Mihaila, Associate Editor

With a building permit pending for its future Miami-Dade location in Sweetwater, IKEA has already hired Balfour Beatty Construction to oversee the 417,000-square-foot project. With groundbreaking set for some time within the next couple of months, the Swedish retailer plans to open the store in summer 2014.

This will be the second IKEA store for the South Florida area, the other—IKEA Sunrise—being located in Broward County.

“We are excited that plans are on track to open IKEA Miami in Summer 2014 as our second South Florida store,” said Mike Ward, IKEA’s U.S. president. “This store will provide a more conveniently located IKEA shopping experience for current and potential Miami-Dade customers and will help strengthen the IKEA presence in Florida established by stores already in Sunrise, Orlando and Tampa.”

The 417,000-square-foot store will rise on a 14.6-acre site in the city of Sweetwater and will be adjacent to the Dolphin Mall set west of Miami International Airport. Store plans reflect the unique architectural design for which IKEA stores are known worldwide. The company will also evaluate solar generation potential for this store to complement the presence of renewable energy generation at nearly 90 percent of its current U.S. locations.

In addition to over 500 jobs that are to be created during the construction phase, approximately 350 workers will join the IKEA family once the new store opens. IKEA Miami would also generate significant annual sales and property tax revenue for local governments and schools.

IKEA—the world’s leading home furnishings retailer—has chosen Balfour Beatty Construction, one of the nation’s largest construction management firms, to handle the project, while also tapping Kimley-Horn and Associates for civil engineering, ATC Associates for geotechnical services, The Goldstein Environmental Law Firm for Brownfield expertise, and Procacci Development Corporation for selling the land. Atlanta-based GreenbergFarrow will serve as architect for the project.

Image courtesy of IKEA

Foram Group’s 600 Brickell Tower Goes Platinum

By Georgiana Mihaila, Associate Editor

The 40-story 600 Brickell building can now pride itself with a rare designation that makes it unique in the Florida market—placing it among only a handful of its class and size in the world—after being certified LEED Platinum by the U.S. Green Building Council.

The 600,000-square-foot mixed-use commercial tower set in the heart of Miami’s financial district was delivered to the market in August 2011. The 600 Brickell at Brickell World Plaza has already brought a top technology award to developer Foram Group, receiving the Greater Miami Chamber of Commerce’s Technology Leader Award for Best Project in 2012.

Designed by global architecture firm RTKL, the $300 million tower features central monitoring and control of air quality, temperature and lighting—resulting in a healthier, more comfortable and more secure working environment. It also incorporates fully redundant electrical backup systems, as well as both public and secured WiFi and direct access to the world’s Internet backbone through underground, redundant fiber-optic connections linking directly to the NAP (Network Access Point) of the Americas less than one mile away.

600 Brickell is the first “Class A” office building of this magnitude to be ISO 27001 Certified, the internationally accepted benchmark for information security.

The U.S. Green Building Council recognized 600 Brickell for its merits of achieving efficiencies in energy, lighting, water and material use, as well as that of incorporating a variety of other sustainable strategies to reduce its carbon footprint. The tower received the designation in the core and shell category, which applies to new construction.

“Every detail of this building was planned and examined before one shovel of dirt was ever turned,” said Loretta Cockrum, Foram’s founder, chairwoman and CEO. “We wanted to build something that would be as relevant 50 years from now as it is today. We have achieved our goal.”

Image via 600 Brickell official website

Developers Ross and Perez Show Interest in Stalled Island Gardens Project

By Georgiana Mihaila, Associate Editor 

According to the South Florida Business Journal, the company headed by Dolphins owner Stephen Ross—Related Cos., as well as Jorge Perez’s The Related Group, will assist Flagstone Properties in developing the long-stalled Watson Island project, Islands Gardens.

A joint statement released on Wednesday says that both companies are engaged in conversations with Flagstone Property Group about potentially partnering on the redevelopment of Watson Island. Yet the $800 million project will have to meet certain criteria and would include additional investment partners before the investment moves forward, the Business Journal reported.

Previously announced development plans state that Island Gardens will feature an ultra-luxury Shangri-La Hotel; a Residences Island Gardens-Miami, managed and serviced by Shangri-La Hotels and Resorts; a lifestyle hotel; 60 cutting edge and high-end retail boutiques; 18 waterfront restaurants, cafés and nightlife venues; world-class dining; a unique waterfront promenade; a fish market; leisure gardens; and a maritime gallery created in conjunction with the Historical Museum of Southern Florida.

Plans also call for a distinctive marina exclusively designed for mega-yachts. The super-yacht harbor is meant to establish Miami as an international destination on the same caliber as illustrious getaways in the Mediterranean and Caribbean.

Island Gardens was conceptualized by developer Mehmet Bayraktar and concept architect Eric Kuhne to utilize every aspect of Watson Island. Piero Lissoni, world-renowned interior designer and co-founder of Studio Lissoni, is designing the interiors of various components of the development. The project architect is Spillis Candela DMJM, one of the oldest and largest professional design firms in the southeastern United States.

Island Gardens was first approved by the city commission on July 8, 2004 and went before the county commission in September 2004 on the marina aspect of the proposal. Yet construction stalled, and developer Mehmet Bayraktar faced several lawsuits and financial problems. The ambitious project, considered to be one of the largest waterfront developments in the world, could open by 2016, according to Bayraktar.

Renderings via www.islandgardens.com

Starwood to Bring New Eco-Conscious Brand to Miami Beach

By Georgiana Mihaila, Associate Editor

As the result of a combined effort between Starwood Capital Group, Invesco and the LeFrak Organization, Miami Beach will soon experience a new concept in beachfront luxury hotel living. The developers have unveiled plans for The 1 Hotel & Residences South Beach—a bold project that will combine a residential component with a 417-room SH Group-operated hotel.

The new brand 1 Hotels was developed by Barry Sternlicht—creator of the widely successful W Hotels and St. Regis hotel brands—and aims at celebrating nature through eco-conscious design and management.

Barry Sterlicht, Starwood Capital Group Chairman and CEO, has chosen The LeFrak Organization to help with the $100 million transformation of an existing 1970’s structure into a LEED-certified, environmentally conscious structure featuring natural materials and finishes and lush landscaping.

Located at 2399 Collins Ave. on the site of the hotel formerly known as The Gansevoort South, the new 1 Hotel & Residences South Beach will include 163 residential units, available in one-, two-, three- and four-bedroom layouts, as well as duplexes that will range in size from 830 to 4,280 square-feet.

The residential units will sit atop the 417-room hotel, which will be operated by SH Group—Starwood’s hotel management company. The entire property and the residences have been retrofitted with new energy-efficient casement windows and sliding glass doors onto private terraces, and each unit will be equipped with ENERGY STAR® qualified appliances.

Residents of 1 Hotel & Residences South Beach will enjoy a collection of superior amenities, such as four ocean view swimming pools—including the hotel’s existing famous rooftop pool, a 40,000-square-foot spa and fitness center, 24-hour in-home dining and concierge services, and 600 feet of beachfront with private beach amenities.

The location places 1 Hotel & Residences next door to the W South Beach and two blocks from The Setai Hotel and Residences in a neighborhood rich in retail, restaurants, culture and entertainment.

Award-winning Brazilian designer Debora Aguiar is creating a fresh, unique design for the residences and common areas that resonate with the brand’s core sustainable ethos, while Miami-based Fortune International will be leading sales and marketing efforts. An onsite sales center will also be set up starting April 2013.

Image: Former Gansevoort, now Perry South Beach Hotel

High-end Bal Harbour Shops to Co-Develop Retail Component of 2.9MSF Brickell CityCentre

By Georgiana Mihaila, Associate Editor

The 2.9 million-square-foot Brickell CityCentre has added a valuable name to its development team. Bal Harbour Shops has joined Hong Kong-based Swire Properties in co-developing the retail part of the project currently under construction in downtown Miami.

The terms of the alliance specify that Swire Properties will remain the primary developer of the mixed-use project, while Bal Harbour will contribute both meaningful equity and its brand recognition and luxury retail expertise as co-developer of the retail component. The venture reinforces the vision that Swire Properties has for Brickell CityCentre—becoming the leading destination in the heart of Miami for exclusive shopping and dining.

“We are honored to have Bal Harbour Shops join us as co-developers of the shopping at Brickell CityCentre,” said Stephen L. Owens, president of Swire Properties Inc. “Built over generations, the credibility of Bal Harbour Shops with the luxury retail market, evidenced by the extraordinary sales performance of their center, will be of tremendous value to the market positioning of Brickell CityCentre as a destination shopping experience for residents and visitors alike.”

Bal Harbour Shops—named “the most productive luxury shopping center in the entire world” by the International Council of Shopping Centers—have been around since 1965. Owned by the Whitman family, the property has been fighting the expansion of luxury retail in Miami-Dade for years, the Miami Herald reports. Along with the new venture with Swire Properties, Bal Harbour will be claiming its ground on the downtown Miami luxury market.

Work on the $1.05 billion Brickell CityCentre project started in June 2012, with the first phase—a high end 500,000-square-foot retail center, two residential towers, a hotel, wellness center, serviced apartments, one office building and 3,100 parking spaces—scheduled for completion in 2015. The second phase will include a second office tower and has a completion date set for 2018.

Image courtesy of Swire Properties