As South Florida’s population continues to grow, so does its affordability challenge. According to Miami Homes For All, the tri-county area currently faces a shortage of 90,181 housing units for households earning below 80 percent of the area median income, estimated at around $75,000 annually.
The construction of self-storage facilities is on the rise in Florida. Our sources point to three separate ventures intending to meet the need for these services.
Glass House Boca Raton, a 10-story residential development located in downtown Boca Raton at 280 East Palmetto Park Road, continues to expand its South Florida-based development team. The development has welcomed Anthony Perera, founder and managing partner of Exuma Capital Partners, as general partner, and Square Edge as the construction management partner. The project is being developed by 280 Palmetto Park Road, LLC, with West Palm Beach architecture firm Garcia Stromberg, interior designer Wade Hallock of Hallock Design Group, and landscape architect AGTLAND.
Oak Row Equities has broken ground on 2600 Biscayne Boulevard, a 41-story tower in Miami’s Edgewater neighborhood that will offer a mix of multifamily residences and office spaces. Coastal Construction Group is tasked as the project’s general contractor. The design is spearheaded by the internationally acclaimed architecture firm Arquitectonica, with interiors by Portland-based Vida. The building’s design will incorporate an original public artwork by artist Derrick Adams. The project has successfully pre-leased half of its commercial space and has obtained a construction loan of $181 million from Bank OZK, reflecting the project’s significant scale within South Florida’s real estate landscape.
The Center for Arts & Innovation has unveiled its initial vision for a forthcoming, globally revolutionary creativity and innovation hub in Boca Raton designed by the widely acclaimed Renzo Piano Building Workshop. Renzo Piano, a Pritzker Architecture Prize-winning Laureate, selectively undertakes two to three new commissions worldwide each year, emphasizing the significance of The Center’s initiative to spark a global renaissance in Boca Raton and the surrounding region. The project’s design is intended to foster a dynamic intersection of arts, education, business, and community. Throughout the 18-month design process, which will involve detailed refinement, ideation, and the cultivation of partnerships, The Center aims to amplify its reach well beyond South Florida, positioning itself as a model for future international projects.
