Sabal Palm Village at Flagler Trail is a proposed development in Miami, Florida. The $120 million complex could span 5.9 million square feet. The Real Deal reports that, of that square footage, there will be 168,011 square feet of office space, 296,297 square feet of retail, and a 43,760-square-foot community/vocational college.
Miami’s oldest Presbyterian church has been given clearance to move forward with the $240 million sale of 2.2-acres of land at 609 Brickell Avenue, one of the last remaining waterfront sites in Brickell. The Permanent Judicial Commission of the General Assembly of the Presbyterian Church, the highest governing body of the religious institution, sided with church leaders and members in favor of selling the land for redevelopment purposes. Miami-based investment and development firms 13th Floor Investments and Key International are planning an 80-story condominium tower designed by Sieger Suarez Architects (Sieger Suarez) that could become a supertall fronting Biscayne Bay. The developers and church leaders are reportedly finalizing the sale contract for the prime development site.
NR Investments hopes to move forward with a new mixed-use development in Miami-Dade County, Florida. The Miami Herald reports that the residential aspect could comprise 2,500 homes spread across multiple buildings.
Natiivo Miami started construction in February 2021. The $213 million venture is expected to reach completion in the third quarter of 2023. Upon finishing, the 51-story tower will offer 448 condos, ranging from studios to three-bedroom homes.
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.
