Novo Kendall Town is continuing construction in Jacksonville, FL. The $30.2 million residential complex began construction in 2020.
Society Wynwood, a 10-story mixed-use development proposed for 2431 Northwest 2nd Avenue, is taking a major step forward in the Wynwood Arts District. Developers Property Markets Group (PMG) and Greybrook Realty Partners have landed a financing deal of $142.3 million for vertical construction of the 318-unit project, which broke ground earlier this year. The financing will be provided by Pacific Western Bank and Square Mile Capital, marking the third Society-branded project for South Florida. MKDA is listed as the architect with Moriarty Construction as the general contractor.
Construction financing has been attained for Fort Lauderdale’s upcoming second tallest tower RD Las Olas, a 47-story mixed-use building planned to rise 494-feet above ground, or 499-feet above sea level, addressed as 201 South Federal Highway and 227 South Federal Highway in Las Olas. Bank Of America is providing an $84 million loan to prominent Coconut Grove-based developer the Related Group, working under an affiliate company referred to as RD East Las Olas LLC, to build the tower. CFE Architects is listed as the design architect, with Moriarty Construction as the general contractor.
Renderings have been unveiled for two new skyscrapers from KAR Properties in Downtown Miami tentatively known as MRP5 and MRP6. The images recently appeared on the developer’s website, referred to as ‘State-of-the-art’ towers; one with multifamily residential units and retail, and the other an office building. The unveiling of the two new towers corresponds with the announcement of the relaunch of One River Point luxury condominium complex back in May, mentioning two additional phases to be added to the project. MRP5 and MRP6 are expected to rise on land already owned by KAR Properties, possibly addressed as 82 Southwest 3rd Street and 50 Southwest 3rd Street.
The development site of an already approved 53-story mixed-use building planned for Downtown Miami was recently sold to a prominent New York City developer. The two parties in the transaction are the seller Downtown 56 LLC, an affiliate of S2 Development, and the buyer Downtown 1st Street LLC, an affiliate of Long Island-based Lions Group NYC. The 16,718-square-foot site traded hands for $10 million, and that includes the addresses 56 Southwest 1st Street and 65 Southwest 2nd Street, including the air rights to the adjacent city-owned parking structure at 70 Southwest 1st Street. Lions Group NYC intends to follow through with the existing plans for the new building.
