Downtown Miami

Miami Voters Approve Land Lease Extension For Riverside Wharf In The Miami River District

8:00 am on August 29, 2022 By Oscar Nunez

Last week, Miami voters overwhelmingly approved an amendment to extend the lease of city land for use in the future development of Riverside Wharf, a $185 million hospitality-driven entertainment complex planned for 114 Southwest North River Drive that promises to usher in a new era for the Miami River District. With approximately 60% of the vote in favor of the amendment, the victory marks another step forward in developing the project. Developed by MV Real Estate Holdings in conjunction with Driftwood Capital and Merrimac Ventures, the the 10-story, 200,000-square-foot project will be the defining development for Miami’s Downtown core as a city-within-a-city all-encompassing destination for unparalleled entertainment, exceptional dining and world renowned hotel accommodations. It will encompass a world-class 30,000-square-foot nightclub and rooftop dayclub, a high-energy 12,000-square-foot event hall and mezzanine, as well as the rebirth and expansion of The Wharf Miami, with 16,000 square feet of signature restaurants and a private marina capable of accommodating megayachts. Planning to break ground in the second quarter of 2023, it will also feature a 165-key Dream Miami luxury hotel.

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Miami Riverbridge, The Three-Towered Redevelopment Of Downtown Miami’s Hyatt Regency, Heads To November Referendum For Approval

8:00 am on August 19, 2022 By Oscar Nunez

At the end of July, Miami’s City Commission voted 4 – 1 in favor of Miami Riverbridge, a three-towered, large-scale mixed-use mega project proposed as the redevelopment of a 4.2-acre city-owned site at 400 Southeast 2nd Avenue in the heart of Downtown Miami, where the Hyatt Regency Miami and James L. Knight Convention Center stand today.  Estimated to cost approximately $1.5 billion, the project calls for three new towers, two of 61 stories and one 95-story supertall, which would contain over 1,500 residential units, a new flagship 615-key Hyatt Regency hotel and 264 branded serviced apartments, 190,000 square feet of Class A meeting and events space, commercial and retail spaces, over 1,000 parking spaces and 50,000 square feet of open public space including a 480-foot-long rejuvenated riverwalk. Miami Riverbridge is being developed between Hyatt Hotels Corp. and Gencom under the HRM Owner LLC, and is being designed by Arquitectonica. The project’s fate is now in the hands of city voters at the next referendum on November 8.

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

8:00 am on August 15, 2022 By Oscar Nunez

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

8:00 am on August 11, 2022 By Oscar Nunez

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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PMG And Greybrook Officially Launch The Elser Hotel & Residences In Downtown Miami

7:30 am on August 10, 2022 By Oscar Nunez

Property Markets Group (PMG) and Greybrook Realty Partners recently hosted an unveiling event to celebrate the launch of The Elser Hotel & Residences, a 49-story new construction luxury condominium tower at 398 Northeast 5th Street. Set in the heart of Downtown Miami with unobstructed views of Biscayne Bay, guests enjoyed a live band, experiential performances and endless champagne. Remarks were given by Ryan Shear, Managing Partner of PMG, and the PMG Residential sales team, Alejandra Castillo, Christian Tupper, Daiana Quiceno, Aura Aragon and Karine Carvalho. Designed by Sieger Suarez Architects with interior architecture and design by Cotofana Designs, The Elser Hotel & Residences will deliver the only new, fully furnished and move-in-ready residences to Downtown Miami this summer. The property will allow owners to enter a short-term rental program with daily rental options through The Elser Hotel & Residences Owners Program, managed by industry-leading management company Highgate.

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