Spirit Airlines has a $250 million mixed-use venture unfolding in Dania Beach, Florida. Brasfield & Gorrie LLC––Orlando broke ground on the venture in early 2021, and it plans on finishing in 2023. Spirit Airlines reports that once the project finishes, it’ll hire 225 more people.
Hines Global Income Trust (HGIT), an investment arm of global real estate firm Hines, acquired Gables Station, a 14-story multi-family complex designed by Gensler and located at 225 South Dixie Highway in Coral Gables, for $430 million. The development, which completed construction last year, features 495 Life Time Living® residences. This acquisition is the second largest single-asset multifamily sale in South Florida, reaffirming HGIT’s and Hines’ bullish stance on the future of the market. Since the pandemic, Hines has committed approximately $1.8 billion across three prime developments and acquisitions in South Florida. Willowick Residential, Hines’ boutique multifamily property management firm, will assume the role as property manager for the asset.
citizenM Miami World Center is scheduled to open in Summer 2022, after beginning construction in November 2019. The luxury hotel will comprise 351 rooms, requiring 127,000 square feet of new construction. Some rooms come with wall-to-wall beds, as the micro-sized rooms start at 151 square feet each.
L&L Holding Company (L&L) and Carpe Real Estate Partners (CREP) have announced that they have successfully completed the acquisition of a 3-acre assemblage for the creation of The Wynwood Plaza, a one-million square-foot multi-building mixed-use development that will bring new office, residential, retail and outdoor space to Miami’s booming Wynwood Arts District. Formerly known as 29N, the project is designed by world-renowned architecture firm Gensler and will become a major attraction and destination for Wynwood. Plans for projected to yield 260,000 square feet of office space, 509 residential units, array of indoor and outdoor dining and shopping options, a beautifully landscaped 25,000 square-foot outdoor public plaza and a parking garage with 668 car spaces and 954 bike spaces
Minnesota-based Developer Nolan Reynolds International (NRI) and health club chain Life Time Fitness have reached completion on Life Time Coral Gables, a 1.2-million-square-foot mixed-use project at 237 South Dixie Highway and 225 South Dixie Highway in Coral Gables, Florida. Designed by Gensler, the $500 million development rises 14-stories and sits parallel to train tracks leading up to the nearby Douglas Road Metrorail Station, yielding 495 high-end luxury apartments, an 80,000-square-foot athletic resort, 25,000 square feet of co-working office space and 105,000 square feet of ground floor retail.