Brooklyn, New York-based BridgeCity Capital is providing $35.5 million in financing to Miami Beach-based JP Roosevelt to begin construction on 42 Pine, an 8-story boutique condominium building envisioned for 340 West 42nd Street between Sheridan Drive and Pine Tree Drive in Nautilus, Miami Beach. The project is designed inside and out by Arquitectonica with landscaping by ULU Studio and offers 50 well-appointed residences spanning 700 to 2,700 square feet, ranging between 1-to-3 bedroom residences and penthouse units. Sales launched just over a month ago, and has already reached the 50% sold mark. Units are priced from $700,000 to $4,000,000 with sales and marketing exclusively handled by Mushka Jacobson of Douglas Elliman.
Construction is ongoing on Altis Santa Barbara, a luxury housing development in Naples, Florida. The venture will require more than 160,000 square feet of new construction, with Heatherwood Construction Company (the general contractor) having started sitework in Spring 2022. Buildings in the community will measure one to five stories above grade.
An Urban Development Review Board (UDRB) application has been submitted for review and approval in regard to The Ursa, a 15-story office building proposed for development at 30 Northeast 29th Street in Miami’s Design District. Featuring world-class architecture from design firm Arquitectonica and developed by Sun King LLC, an entity directed by DACRA CEO Craig Robins, The Ursa comprises 274,268 square feet of space including 159,892-square-feet of Class-A office space across 10-stories, 6,780 square feet of ground floor retail space, and 134 parking spaces all within a 222-foot-tall artistically-designed structure. The application was scheduled for review on June 15, 2022 and is now pending approval.
Osceola County recently approved a new housing development. Whaley Platt Development will comprise 2,818 units, ranging from townhomes to single-family residences. WESH2 notes that 1,825 units will be single-family detached homes with garages.
The developers behind the proposed Miami Freedom Park have submitted a revised master plan and new renderings to city planners for review. Arquitectonica is listed as the architect with ArquitectonicaGEO as the landscape architect and Miami Freedom Park, LLC (MFP) is the developer for the 72-acre property at 1400 – 1550 Northwest 37th Avenue in Grapeland Heights beside Miami International Airport. The property is solely owned by the City of Miami, and is leased to MFP for 99-years with the intent of developing a world-class 25,000-seat Major League Soccer stadium for Inter Miami CF, a 600,000-square-foot Soccer Village with food, beverage and retail venues, 750 hotel rooms, 400,000 square feet of office space, and 5,100 parking spaces.