Articles by Oscar Nunez

Abbhi Capital Releases First Concept Rendering Of A Planned Mixed-Use Project For Miami Worldcenter Block A

YIMBY spotted a new rendering of another potential large scale mixed-use project for an undeveloped site in Miami Worldcenter, better recognized as MWC Block A in Park West, Downtown Miami. 2.2-acres of this city block is under the ownership of Miami-based developer and investment firm Abbhi Capital, led by founder and managing partner Sankesh Abbhi, which was assembled by the firm under the Sanaproperty8 LLC between 2020 and 2021 for a total of approximately $44 million. The developer is reportedly planning a mixed-use project with multi-family, office, retail and hotel components, currently in the pre-construction and entitlement phases. The property allows for up to 2 million square feet of development, which would be incorporated into the 27-acre Miami Worldcenter complex.

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Riverside Wharf Wins Unanimous Support from Miami City Commission, Awaits Voter Referendum For Land Lease Extension

After the City of Miami Commission’s unanimous decision to move ahead with the Riverside Wharf master plan, Miami voters will have the opportunity to vote “yes” to extend the land lease for the development which will pave the way for Riverside Wharf to become a longstanding part of the Miami River community. Riverside Wharf, developed by MV Real Estate Holdings (MVREH), in conjunction with Driftwood Capital and Merrimac Ventures, is a $185M hospitality-driven entertainment complex along the historic Miami River. The 10-story, 1.5-acre development will rise as a world-class entertainment destination expected to usher in a new era for the River District by providing a new home for Wharf Miami, as well as brand new dining and nightlife concepts and a 165-key Dream Miami hotel that will be an amenity for the city and attract continued growth to the undeveloped riverfront neighborhood. Construction for this development is slated to start in the second quarter of 2023.

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Developers Acquire 26-Acre Development Site For Planned $120 Million Class-A Residential Community In Cape Coral

West Palm Beach-based real estate developer Shoreham Capital, in partnership with Salt Lake City-based Bridge Investment Group and Denver-based Wynkoop Financial, announce the acquisition of a 26-acre development located at 186-264 Tierra De Paz Loops in Cape Coral, Florida. The planned $120 million development, dubbed Siesta Lakes, will be a Class-A residential rental community. Current plans for Siesta Lakes include 412 apartment units comprising one-, two-, and three-bedroom floor plans, with each residence having a private balcony, as well as open concept living areas and high-end finishes. Amenities will include a gym, pool, dog park, pickleball courts, business center, and more. Construction is slated to begin in Q4 2022.

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Site And Soil Permits Filed For One Brickell Tower II At 77 SE 5th Street In Miami

Permits have been filed for site and soil improvements at 77 Southeast 5th Street, where Miami-based Related Group plans on building a 47-story tower residential tower with 506 apartments. Also know as One Brickell Tower II, the 478-foot-tall structure would be one of three to rise within the One Brickell mixed-use development fronting the Miami River. John Moriarty & Associates is listed as the contractor, and the scope of work is estimated to cost $1.5 million. Isley Barajas of the Related Group is listed as the owner/applicant for the permits, filed on August 9, 2022.

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Miami-Dade County Releases New Details On MetroCenter, The Redevelopment Of 17-Acres In The Government Center District

Miami-Dade County has initiated a Request For Proposals to enter into a long-term public-private partnership to redevelop 17 contiguous acres of County-owed land within the 28-acre Government Center District in Downtown Miami. The bidding process opened this past Tuesday for the redevelopment project, which the county branded as MetroCenter, and the property comprises 11 primary sites spanning multiple blocks west of the Government Center Metrorail Station and east of the I-95 Expressway. The chosen Master Developer will have the opportunity to lead the development of up to 23.7 million square feet of space which could include anywhere between 6,000 to 8,500 residential units mixed between affordable and market rates, educational facilities, transportation advancements, cultural amenities and open spaces, commercial spaces, hospitality spaces, and retail establishments. These uses would be spread throughout multiple structures that could rise 550 to 770 feet, with the objective of creating a seamless, active, self-sustaining, urban neighborhood.

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