Pendry Residences Tampa is officially under construction in Hillsborough County. The 39-story hotel/condo will host 220 guest rooms and 207 high-end condos. Our sources indicate that the venture’s expected to open in 2026. The groundbreaking ceremony took place the last week of October.
Hospitality and real estate pioneers Rosso Development, Standard International, and Midtown Development have closed on a $45,045,000 construction loan from Bank OZK for the highly anticipated The Standard Residences, Midtown Miami, located at 3100 Northeast 1st Avenue. A JLL Capital Markets Debt Advisory team, led by Managing Director Brian Gaswirth and Associate Jimmy Calvo, represented the developer.
In May 2022, TriStar Capital, Integra Investment, and LNDKMRK Development purchased a 1.03-acre property for $23 million. They purchased the parcel from LV Lending, which seized the property following a bankruptcy filing. Previous owners had plans for it to become “Triptych Miami,” but now, a new project is underway.
Real estate developer Terra and wellness brand THE WELL have begun construction on THE WELL Bay Harbor Islands at 1100 Kane Concourse in Miami’s Bay Harbor Islands. The project includes an eight-story residential building with 54 residences, over 22,000 square feet of amenities, and a separate office building totaling 102,000 square feet. THE WELL Bay Harbor Islands represents the collaboration between Terra and THE WELL in integrating wellness concepts into residential and office environments. The estimated completion date is Q2 of 2025.
As South Florida’s suburban markets continue to draw companies seeking quality office spaces at competitive prices and convenient commutes, Coconut Grove remains a preferred choice for its balanced live-work-play environment. 3480 Main, a boutique Class A office building designed by award-winning architect Arquitectonica, is seeing increased leasing activity, with four new leases recently signed.
