The Real Deal Miami

Adler, 13th Floor top-ranked for Douglas Road Metrorail station proposal

Project to include 970 residential units, 150-key hotel, 70K sf of retail and public plaza

June 10, 2015 01:40PM
By Ina Cordle

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Rendering of Link at Douglas

Adler Group and 13th Floor Investments’ proposal for a massive, mixed-use development at the Douglas Road Metrorail Station has won the recommendation of a Miami-Dade County selection committee, The Real Deal has learned.

As the highest ranked proposal, Adler and 13th Floor will now negotiate with the county before the deal goes to the county commission for approval.

The joint venture was competing against the Related Group in the county’s request for proposal for the 7.15-acre site.

Responding to the RFP, in March, Adler 13th Floor Douglas Station LP proposed “Link at Douglas,” a project that would include 970 residential units, 150-key hotel, 70,000 square feet of retail and a public plaza.

In a 342-page proposal obtained by TRD, the developers described Link at Douglas as a “connector among residential, office, hospitality and leisure/entertainment, not only within this development, but throughout Miami-Dade County.”

Phase 1 would include a hotel at the corner of Douglas Road and U.S. 1, spanning across the Miami-Dade Metrorail track, a pedestrian plaza and a 25-level residential tower with 288 units, and retail space, according to the proposal.

“One option for brand affiliation for a hotel at Link is a hotel brand such as Hilton Garden Inn,” the proposal states.

Phase 2 would consist of a 302-unit residential tower, with parking and ground-level retail. A third, 25-level residential tower would be part of Phase 3, with more retail and parking. And Phase 4 would add mid-rise residential units and retail space.

Members of the selection committee weighed both Adler 13th Floor’s proposal and Related’s, according to minutes from the evaluation committee’s May 29th meeting. Among the points of discussion were square footage, costs and phasing.

Adler 13th Floor’s proposal totals 261,165 square feet, with an $82.8 million cost price, and the phasing would take eight years, as noted in the minutes.

A market and marketability study by Integra Realty Resources, which was part of the proposal, estimates a total construction budget of $280.4 million, creating 1,400 construction jobs.

The selection committee members opted not to request oral presentations before adding up scores and choosing the highest ranked proposer. The top ranked choice was confirmed to TRD by the county.

13th Floor Investments’ Managing Director Arnaud Karsenti declined to comment on the selection committee’s recommendation, but provided a statement.

“The county’s proposed Douglas Station project would be a significant step forward for improving interconnectivity throughout the region,” Karsenti said in the statement. “Our team would be privileged and honored to be selected for this endeavor, however we respectfully decline comment until the procurement process has concluded.”