Miami’s Urban Development Review Board has issued approval for 2900 Terrace, a new 38-story mixed-use development slated for 401 Northeast 29th Terrace in the Edgewater neighborhood. This 380-foot-tall project is a collaboration between LNDMRK Development and Oak Row Equities, with design by the renowned architectural firm Arquitectonica. The development is anticipated to encompass 629,829 square feet, including 324 residential units, 22,354 square feet designated for office use, 13,108 square feet for commercial use, and 515 parking spaces. Construction is expected to be completed in 2026.
Developers Related Group (Related) and partner Alta Developers have closed on $240 million in financing for Casa Bella Residences by B&B Italia (Casa Bella), a 56-story residential building that broke ground earlier this month in Downtown Miami’s burgeoning Arts and Cultural District. The loan was provided by Cain International (Cain) — a privately held investment firm with over $16 billion in assets under management.
A Coral Gables-based developer hopes to get approval for Beacon Flats, a residential complex in Miami-Dade County. The complex, which would comprise 103,176 square feet of new construction, would offer 109 apartments divided between two three-story buildings.
Demolition work continues to progress at the site of The Perigon, a 17-story luxury oceanfront condominium developed jointly by Mast Capital and Starwood Capital Group, located at 5333 Collins Avenue in Miami Beach. Designed by OMA with interior design by Tara Bernerd & Partners, the 213-foot-tall structure will offer 73 ultra-luxury residences, ranging from 2,100 to 6,700 square feet, in addition to eight private guest suites exclusively for residents. Groundbreaking for this project is expected in early 2024; Moss Construction is the general contractor.
Miami-based real estate developer Related Group (Related), has broken ground on Tower II of the anticipated condominium, The Ritz-Carlton Residences, Tampa (The Residences). Located along Tampa Bay’s scenic Bayshore Drive, The Residences represents the entry of the esteemed Ritz-Carlton brand into the Bay Area. The project features architecture by Arquitectonica and interiors designed by Meyer Davis.