La Baia has started construction in Bay Harbor Islands, Florida. The venture offers 68 luxury units that have already sold out, having gone on sale in October 2021. Homes range from 1,100 square feet to 2,500 square feet, offering one-bedroom to four-bedroom units.
BGI Companies has closed on an $82 million construction loan from Trez Capital, a private real estate lender helping to build better communities across North America. The loan was arranged by BGI Capital for the construction of Alba Palm Beach, a new 22-story waterfront residential condominium development in collaboration with Blue Road Group located at 4714 North Flagler Drive, directly facing the Intracoastal Waterway in the emerging and growing Northwood neighborhood of West Palm Beach. The development is designed by Spina O’Rourke + Partners with Schmidt Nichols as the landscape architect, and is comprised of a collection of 55 luxury condominiums and 4 two- and three-story townhomes. The development has received a strong response with more than 30 percent of the building reserved since launching sales in February 2022.
The Reserve at Jensen Beach is scheduled to open in Summer 2022. The community comprises multiple low-rise building and offers 197 homes. Capano Residential notes that homes will range from 851 square feet to 1,345 square feet each.
Florida East Coast Realty (FECR), the developer behind Miami’s current tallest skyscraper, the 85-story Panorama Tower, has sold the last remaining prime waterfront development site in Brickell for a record breaking $363 million to 1201 Brickell Bay LLC, managed by Randall Davis in Chicago. FECR, led by real estate visionary Tibor Hollo and his family, held ownership of the property since around October 2000, which according to city records was originally purchased for $15.5 million. The property is addressed as 1201 Brickell Bay Drive, a 2.5-acre site bound by Southeast 12th Street on the north and Brickell Bay Drive on the west intersecting Southeast 12th Terrace. In 2016, FECR along with Corigin Real Estate Group and McCourt Global properties, announced plans for two 1,049-foot supertall mixed-use towers with 660 units designed by Foster + Partners dubbed ‘The Tower by Foster + Partners’, but those plans were never realized.
Cornerstone is a new residential development unfolding in Jupiter, Florida. The luxury development will offer 15 units in a five-story building, with each home measuring 2,000 to 4,000 square feet each.
