Articles by Oscar Nunez

Wynwood’s Whale & Star Site Eyed for Mixed-Use Redevelopment with Hotel and Condos

8:00 am on September 9, 2024 By Oscar Nunez

Plans have been submitted for potentially redeveloping the Whale & Star building in Miami’s Wynwood Arts District into a mixed-use project. The site is located at 2215-2237 Northwest 1st Place, 175 Northwest 22nd Street, and 170 Northwest 23rd Street, and spans 37,822 square feet. Currently, the property contains 27,406 square feet of commercial buildings, which would be demolished under the proposal. The city’s Wynwood Design Review Committee is set to review the project plans on Sept. 10.

Developers Respond to South Florida’s Affordability Crisis with Modern Workforce and Affordable Housing Projects

8:00 am on September 8, 2024 By Oscar Nunez

As South Florida’s population continues to grow, so does its affordability challenge. According to Miami Homes For All, the tri-county area currently faces a shortage of 90,181 housing units for households earning below 80 percent of the area median income, estimated at around $75,000 annually.

Developers Secure $527M Financing for St. Regis Residences Miami in South Brickell

8:00 am on September 7, 2024 By Oscar Nunez

Developers Related Group and Integra Investments have announced the closing of $527 million in financing for St. Regis Residences, Miami, a highly anticipated residential tower located on the Biscayne Bay waterfront in Miami’s South Brickell neighborhood. The loan, provided by TYKO Capital, marks one of the largest residential construction loans in South Florida’s history.

Construction Tops Off at The Standard Residences in Midtown Miami

8:00 am on September 6, 2024 By Oscar Nunez

Construction at The Standard Residences, Midtown Miami, a 12-story pied-à-terre-style building, has reached its topping-off milestone, and window installation has progressed up to the eighth floor. The project previously secured $45.045 million in financing from Bank OZK and has announced two major food and beverage offerings: Solana by Juvia Group on the rooftop and Rosetta Bakery Café & Privato Speakeasy on the ground floor.

Vita at Grove Isle Tops Off Construction, Set for Late 2025 Completion

8:00 am on September 5, 2024 By Oscar Nunez

Grove Isle’s first new residential development in decades has reached a major milestone as CMC Group, led by developer Ugo Colombo, topped off construction of Vita at Grove Isle, a 65-unit luxury condominium. Situated on the 20-acre private island of Grove Isle, just offshore from Miami’s Coconut Grove neighborhood, the seven-story waterfront development is comprised of three interconnected buildings, forming a unified structure. Vita at Grove Isle is scheduled for completion in late 2025.

49-Story Waldorf Astoria Residences in St. Petersburg Undergoes Major Redesign, Set to Become City’s Tallest Tower

8:00 am on September 4, 2024 By Oscar Nunez

Plans for the Waldorf Astoria Residences St. Petersburg, a 49-story tower set to become the city’s tallest building, have been significantly revised. The mixed-use luxury condominium tower, to be located at 150 2nd Avenue South in downtown St. Petersburg, has undergone a dramatic redesign, now featuring new architectural plans by Miami-based CUBE 3. Initially designed by New York-based SLCE Architects, the changes represent a shift in the project’s vision, with CUBE 3 stepping in to reshape the iconic structure. The project is a joint venture between Miami’s Property Markets Group and the City Center office building owners, including Feldman Equities, City Office REIT, and Tower Realty Partners.

West Palm Beach Development Group Seeks $10.6M Incentive for 25-story Mixed-Use Project with Affordable Housing in Downtown West Palm Beach

8:00 am on September 3, 2024 By Oscar Nunez

A development group is seeking up to $10.6 million in incentives to incorporate affordable and workforce housing into its proposed 25-story mixed-use project ‘Fern & Gardenia’ designed by Miami-based Arquitectonica in downtown West Palm Beach. The city’s Community Redevelopment Agency (CRA) Board will review the term sheet for tax increment financing (TIF) from WPB Fern Holdings LLC today. WPB Fern Holdings LLC is a partnership between Miami-based 13th Floor Investments, West Palm Beach-based Wexford Real Estate Investors, and New York-based L&L Holdings.

FAA Permits Filed for JW Marriott-Branded Tower at 319 E. Church Street in Downtown Orlando

8:00 am on September 2, 2024 By Oscar Nunez

The Federal Aviation Administration (FAA) has received permit applications for a new 33-story skyscraper that will add a JW Marriott-branded tower to downtown Orlando’s skyline. Designed by DLR Group and developed by Summa Development Group, the mixed-use tower is planned to rise 328 feet above ground, or 423 feet above mean sea level, factoring in the site’s elevation of 95 feet. Construction on the tower is anticipated to begin later this year or early next year at 319 East Church Street, in the heart of Orlando’s downtown district. The permits were filed on June 28 and are currently under review.

New 14-Story Apartment Building Proposed Near Seminole Hard Rock Hotel & Casino in Hollywood

8:00 am on September 1, 2024 By Oscar Nunez

A new apartment building has been proposed directly across the street from the iconic Seminole Hard Rock Hotel & Casino Hollywood, utilizing Florida’s Live Local Act to bring more residential units to the area. The proposed development, named Guitar View, is slated for a 38,545-square-foot lot at 5200 S. State Road 7, currently occupied by a used car business called Car Factory Outlet. The project, designed by Luis La Rosa of LLR Architects based in Pembroke Pines, is spearheaded by Guitar View LLC, managed by Nicolas Mendizabal and Eloy Garcia, both based in Miami.

Bridge Loan Secured for Condo Conversion in Pompano Beach’s Growing Koi Community

8:00 am on August 31, 2024 By Oscar Nunez

Forman Capital has provided a $55.22 million bridge loan to facilitate the conversion of 214 Class A rental units into for-sale condominium residences in Pompano Beach, one of South Florida’s rapidly developing cities. The Envy project comprises two 11-story buildings located at 450 E. Atlantic Blvd. between Dixie Highway and U.S. 1, and is part of the larger Koi master-planned community, which includes trails, parks, and a private 26-slip marina. The loan originated from Forman Capital’s Ben Jacobson, Scott Mehlman, and Ty Regnier on behalf of the borrower, Envy Development DE, LLC. The financing was brokered by Jay Miller, Spencer Miller, and Noah Rothman of BayBridge Real Estate Capital, with the transaction closing on August 29, 2024.

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