Florida YIMBY

Construction Progresses on 70-Story Okan Tower at 555 N. Miami Avenue in Downtown Miami

8:00 am on August 18, 2024 By Oscar Nunez

Construction continues to advance on Okan Tower, a 70-story mixed-use building under development at 555 North Miami Avenue in Downtown Miami. Designed by Behar Font & Partners and developed by Okan Group, the 902-foot-tall, 914,124-square-foot structure will include 399 residences, a 316-key hotel, 64,000 square feet of Class A office space, and a range of indoor and outdoor amenities. The tower is being constructed on a 0.86-acre corner plot bordered by North Miami Avenue to the west and Northeast 6th Street to the north. Witkin Hults + Partners serves as the landscape architect.

Pebb Capital, Sabal Investment Holdings Acquire “The Press” in West Palm Beach, Plans for Major Improvements

8:00 am on August 17, 2024 By Oscar Nunez

Pebb Capital and Sabal Investment Holdings have announced the acquisition of “The Press,” a mixed-use property located at 2751 South Dixie Highway in West Palm Beach, Florida. The transaction, made in an off-market deal with Tricera Capital, includes plans for nearly $80 million in acquisition and repositioning efforts. These plans involve significant capital improvements, such as enhancing the office building’s common areas, completing spec suites, and upgrading the landscape and hardscape along Dixie Highway to attract additional high-quality tenants.

‘Cypress Grove’ to Offer 84 Affordable Housing Units at 555 16th Avenue Southeast, Largo, FL, 33771

7:00 am on August 17, 2024 By Colt Dodd

Cypress Grove Apartments will offer 84 units. Forty-five units will be reserved for those earning up to 60 percent of the area median income (AMI), while the remaining 39 will be for those earning up to 80 percent.

$35 Million Financing Secured for JEM Private Residences at 1016 NE 2nd Avenue in Miami Worldcenter

8:00 am on August 16, 2024 By Oscar Nunez

BHI, the U.S. division of Bank Hapoalim and a full-service commercial bank, announced the provision of $35 million in predevelopment financing to Naftali Group for JEM Private Residences, a 67-story mixed-use tower planned for 1016 Northeast 2nd Avenue in Miami, Florida. The over 700-foot-tall development will include 259 condominium units, 530 multifamily rental units, 3,259 square feet of ground-floor retail space, and 283,863 square feet dedicated to parking.

23-Story ‘Lumaire’ Completes Construction at 201 Clearwater Drive, West Palm Beach, FL

7:00 am on August 16, 2024 By Colt Dodd

Lumaire, a 23-story residential venture in Downtown West Palm Beach, has finished construction and is now leasing. Multi-Housing News reports that the community features 457 “light-filled residences”, with floorplans ranging from studio to three-bedroom apartments.

New Rendering Revealed for The Residences at Mandarin Oriental, Miami

8:00 am on August 15, 2024 By Oscar Nunez

A new rendering has been revealed for The Residences at Mandarin Oriental, Miami, a 66-story residential tower at 500 Brickell Key in Miami. Designed by Kohn Pedersen Fox and developed by Swire Properties, the rendering offers a hero perspective looking upwards towards the apex of the building, showcasing the architectural and structural details in greater clarity. The design emphasizes the tower’s curved corners and subtle convex profile, contributing to its sleek and modern aesthetic.

Developer Secured Construction Loan for ‘the Gateway Luxury Apartments’ at 950 N. Powerline Road, Pompano Beach, FL

7:00 am on August 15, 2024 By Colt Dodd

In June 2022, Florida YIMBY reported on the Gateway Luxury Apartments, a residential housing development in Pompano Beach. Now, the developer has secured the $18 million construction loan needed to push the project to completion.

FAA Approves Tower Cranes for 41-Story Development at 520 W. Broward Blvd in Fort Lauderdale

8:00 am on August 14, 2024 By Oscar Nunez

The Federal Aviation Administration has issued permits for two tower cranes at 520 West Broward Boulevard in Fort Lauderdale, where Woodfield Investments plans to build a 41-story tower. The permits, issued on August 7 and expire on February 7, 2026, allow the cranes to rise 507 feet and 546 feet above ground, or 511 and 550 feet above mean sea level. The development, designed by Spina O’Rourke + Partners with landscape architecture by EDSA, will feature 365 apartments, 2,500 square feet of commercial space, and a 444-space parking garage.

Developer Lands $83M Construction Loan, Breaks Ground on ‘Parks at Hallandale’ in Hallandale Beach

8:00 am on August 13, 2024 By Oscar Nunez

Miami-based real estate development firm 13th Floor Investments has initiated construction on Parks at Hallandale, a multifamily development located at the southeast corner of Pembroke Road and Northeast 1st Avenue in Hallandale Beach, Broward County. The 15.5-acre project, occupying the sites at 106 and 2002 Pembroke Road, plus 700 and 1000 Northeast 1st Ave, will consist of 398 market-rate and workforce apartments across five-story buildings, with approximately 6,500 square feet of ground-floor retail. CIBC Bank USA provided a loan of $83 million for the project’s construction. Berkadia’s Florida team, led by Scott Wadler and Alec Fox, facilitated preferred equity from Houston-based Marble Capital. The project is expected to be completed in 2026.

Construction Starts on ‘The Parks at Hallandale’ at 2002 Pembroke Road, Hallandale Beach, FL

7:00 am on August 13, 2024 By Colt Dodd

Construction has started on The Parks at Hallandale, a mixed-use venture in Broward County, following the security of a $83 million construction loan. Upon completion, the venture will offer 398 homes in seven five-story buildings, offering a mix of at-market rate and workforce housing units.

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