Miami-based developer Mast Capital has acquired the 2.8-acre vacant development site addressed as 1420 South Miami Avenue for $103 million from Rega Center Miami Holdings. The site is located on the southern edge of the Brickell Central Business District and represents one of the last remaining raw parcels of land available zoned for rapid transit-oriented high-density development in the area. The developer submitted site plans for a massive master-planned project yielding 2.6 million square feet across three soaring towers, including an 80-story luxury condominium tower with 400 residences, and two multifamily towers of 50 and 60 stories with a combined total of 850 luxury apartments. Mast Capital partnered with private equity real estate firm Rockpoint for the acquisition, the third joint venture between the two firms this year.
Manor Hampton is heading toward its construction phase in Nassau County, FL, the Construction Journal reports. The multi-million-dollar assisted living facility will provide over 85,000 square feet of new construction.
The Federal Aviation Administration has granted approvals for Altura Bayshore, a 22-story condominium tower underway at 2910 West Barcelona Street in Bayshore Gardens, Tampa. Designed by Curts Gaines Hall Jones Architects and developed by Tampa-based The Ronto Group, the superstructure is approved to rise 271-feet, or 285-feet above sea level. The property is generally located South Ysabella Street to the east and the Selmon Expressway on the west, positioned just a block away from Bayshore Boulevard and Hillsborough Bay. Naples-based Connor & Gaskins Unlimited is the general contractor; Smith & Associates Real Estate is handling sales and marketing.
The Shoppes of Monterra Commons is undergoing construction in Cooper City, FL. The Construction Journal reports that the mixed-use venture will ideally open in 2022 or 2023.
Orlando-based real estate developer Tavistock Development Company has revealed preliminary plans for three conceptual luxury high rises at Pier Sixty-Six in Fort Lauderdale. Designed by renown architecture firm Arquitectonica, the towers would rise 480-feet over the marina and Stranahan River – two south of the 17th Street causeway and one west of the Pier Sixty-Six Hotel; the additional towers would yield 130 units each, with four on each floor. Tavistock purchased the Pier Sixty-Six complex at 2301 Southeast 17th Street in 2016 for a cool $165 million, and is already redeveloping the areas surrounding the hotel with 76 new condo units across two buildings, 39 waterfront villas and 12 single-family homes – expected to reach completion by 2024.