West Palm Beach-based real estate developer Shoreham Capital, in partnership with Salt Lake City-based Bridge Investment Group and Denver-based Wynkoop Financial, announce the acquisition of a 26-acre development located at 186-264 Tierra De Paz Loops in Cape Coral, Florida. The planned $120 million development, dubbed Siesta Lakes, will be a Class-A residential rental community. Current plans for Siesta Lakes include 412 apartment units comprising one-, two-, and three-bedroom floor plans, with each residence having a private balcony, as well as open concept living areas and high-end finishes. Amenities will include a gym, pool, dog park, pickleball courts, business center, and more. Construction is slated to begin in Q4 2022.
Bocora Apartments could soon start construction in Boca Raton, Florida. The $105 million project will offer more than 280,000 square feet of new construction and offer 277 units. The one-bedroom to three-bedroom units will be in an eight-story building, all resting on a 4.1-acre plot.
Permits have been filed for site and soil improvements at 77 Southeast 5th Street, where Miami-based Related Group plans on building a 47-story tower residential tower with 506 apartments. Also know as One Brickell Tower II, the 478-foot-tall structure would be one of three to rise within the One Brickell mixed-use development fronting the Miami River. John Moriarty & Associates is listed as the contractor, and the scope of work is estimated to cost $1.5 million. Isley Barajas of the Related Group is listed as the owner/applicant for the permits, filed on August 9, 2022.
Saltaire is a new mixed-use development planned for Walton County, Florida. The $123.9 million venture, located on a 24.5-acre build site, will include 256 apartments. NWF Daily News reports that 88 homes are studio apartments, while the remaining 168 homes will offer more than one bedroom. The homes are spread across multiple low-rise buildings.
Miami-Dade County has initiated a Request For Proposals to enter into a long-term public-private partnership to redevelop 17 contiguous acres of County-owed land within the 28-acre Government Center District in Downtown Miami. The bidding process opened this past Tuesday for the redevelopment project, which the county branded as MetroCenter, and the property comprises 11 primary sites spanning multiple blocks west of the Government Center Metrorail Station and east of the I-95 Expressway. The chosen Master Developer will have the opportunity to lead the development of up to 23.7 million square feet of space which could include anywhere between 6,000 to 8,500 residential units mixed between affordable and market rates, educational facilities, transportation advancements, cultural amenities and open spaces, commercial spaces, hospitality spaces, and retail establishments. These uses would be spread throughout multiple structures that could rise 550 to 770 feet, with the objective of creating a seamless, active, self-sustaining, urban neighborhood.