Miami River. Designed by Kobi Karp.

Chetrit Group Lands $310 Million Loan From Madison Realty Capital For The Kobi Karp-Designed 6.2-Acre Miami River Mega Project

The Chetrit Group’s vision for the 6.2-acre Miami River may finally come to fruition after landing a loan to begin construction. The New York City-based developer was granted $310 million in financing from Madison Realty Capital for the first two phases of the 4.2 million-square-foot mega project in Brickell, which is comprised of building the first of four towers and the additions and improvements to the riverwalk. The deal was arranged by Henry Bodek of Galaxy Capital Group, and is collateralized by the land for the last three phases. Kobi Karp is the architect for development, which will ultimately yield 1,928 residential units, 330 hotel rooms, 196,882-square-feet of retail space, and 98,040-square-feet of office space across multiple glass-clad towers along with boat slips, an outdoor theater, a residents lounge, a business center, a state-of-the-art gym, a pool, and a café.

Read More

$90 Million Renovation And Expansion Of Swimming Hall Of Fame Awaits City’s Approval In Fort Lauderdale

Hall Of Fame Partners, a partnership between Capital Group P3 and Hensel Phelps Construction Company have submitted a proposal to redevelop Fort Lauderdale’s International Swimming Hall of Fame in Central Beach. Located at 1 Hall of Fame Drive and 501 Sea Breeze Boulevard, the $90 million renovation and expansion is comprised of the construction of two new five story towers: a 105-foot-tall museum on the west side of the peninsula and a 94-story welcome center on the east side. The development will include a ballroom with a rooftop restaurant, a covered teaching pool, and 20,000 square feet of museum space. as well as a cafe, office and commercial space, and parking for 202 vehicles. The project gained a preliminary approval from the city commission, but still need’s a final city vote to move forward. 

Read More

Lofty Brickell Receives Height Increase And Design Changes In Newly Revealed Renderings

New renderings has been released to the public of Lofty Brickell, a short-term rental tower being planned for 99 Southwest 7th Street – a prime location facing the Miami River in Brickell. Arquitectonica remains as the design architect for the building, which based on the renderings has been increased to nearly 50 stories, up from the previously planned 37-stories. The rendering of the tower facing southeast towards the Metrorail bridge was first posted in a paid advertisement from The Real Deal with details on unit pricing. Newgard Development Group is developer behind the efforts to redevelop the site, which will eventually give rise to three towers.

Read More