Terra Acquiring Former Miami Herald Site From Genting Group For $1.225 Billion, Plans Waterfront Transformation

8:00 am on May 2, 2023 By Oscar Nunez

SmartCity Miami LLC, an investment group led by Miami-based Terra and its CEO, David Martin, has finalized terms for acquiring a 15.5-acre development site on Biscayne Bay in Downtown Miami. The group will purchase the site, previously home to the Miami Herald newspaper offices, from its owner, Genting Group, for $1.225 billion. The site is the largest undeveloped waterfront property in Miami’s urban core, midway between Miami Beach and Miami International Airport. It offers over 800 feet of direct frontage along Biscayne Bay and is adjacent to Miami’s Museum Park, the Adrienne Arsht Center for the Performing Arts, and the Metromover transit system. The closing is set to take place later this year.

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Construction Commences On SeaGlass Cove At 59720 Overseas Highway In Grassy Key, FL

8:00 am on May 1, 2023 By Oscar Nunez

Construction is underway on SeaGlass Cove, a residential island community at 59720 Overseas Highway in Grassy Key, Florida. Designed by Alderman Planning Company with Landwise Design as the landscape architect and developed in collaboration between Miami-based Constellation Group and Ironwood Venture Group, SeaGlass Cove features 14 single-family homes in a private gated community featuring interiors from designBAR. $17 million in construction funding was provided to the developers by Banesco USA. Construction is expected to complete sometime in 2024.

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Elevate Apartments Tops Off Construction At 600 E. Dania Beach Blvd. In Dania Beach, FL

8:00 am on April 30, 2023 By Oscar Nunez

Miami-based developers Royal Palm Companies and ILP Developers celebrate the topping off of Elevate Apartments, a 293-unit multifamily project at 600 East Dania Beach Boulevard in Dania Beach. Designed by NMD Nomadas with De Los Reyes Engineering Inc. as the structural engineer, the 8-story, 503,924-square-foot project will feature a mix of studio, one-, two-, and three-bedroom residences ranging from 700 to 1,000 square feet, and amenities such as a pool with sundeck, fitness center, coworking space, water sports equipment storage, and structured parking. Architectural Alliance Landscape is the landscape architect. Suffolk Construction is the general contractor.

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