The Real Deal Miami

  • Minto West gets go-ahead from commissioners

    Commission votes 5-2 in favor of massive mixed-use development
    October 30, 2014 10:30AM
    Hal Valeche

    Hal Valeche

    It wasn’t unanimous, but Palm Beach County commissioners approved the massive Minto West development on farmland near the Acreage community.

    The commission – by a 5-2 vote – allowed Minto Communities to construct about 4,500 homes and 2 million square feet of commercial space on a large chunk of the former Callery-Judge citrus grove during Wednesday’s meeting. Commissioners Steven Abrams, Mary Lou Berger, Priscilla Taylor, Hal Valeche and Shelley Vana voted in favor of the project. Commissioners Paulette Burdick and Jess Santamaria cast no votes. [more]

  • 1111 Lincoln Road developer wants to build addition

    Robert Wennett applies to construct building with bank space, residential units
    October 30, 2014 09:45AM By Erik Bojnansky
    1111 Lincoln Road (credit: Erik Bojnansky) and Robert Wennett

    1111 Lincoln Road (credit: Erik Bojnansky) and Robert Wennett

    The developer of 1111 Lincoln Road, a seven-story commercial and parking complex in South Beach, submitted plans to the City of Miami Beach to build a two-story addition, The Real Deal has learned. [more]

  • Top stories

    October 30, 2014 09:00AM

    Top stories yesterday on The Real Deal:
    1. Developer constructing new Fisher Island condo on speculation
    2. Nonprofit gets $19.2M for Edgewater property
    3. Movers and Shakers

  • Brazilian developer enters Miami market

    Rodolfo Ishak sees Overtown as prime for luxury projects
    October 29, 2014 05:15PM
    Rodolfo Ishak

    Rodolfo Ishak (via Daily Business Review)

    A developer with 30 years of experience in Brazil recently unveiled a new project for Miami that challenges conventional wisdom.

    Rodolfo Ishak spoke to the Daily Business Review about his 35-story Krystal tower, which calls for 153 residences on a stalled project on a foreclosed lot the company bought earlier this year at 530 NW First Court in Miami’s Overtown, an historically African-American neighborhood not often mentioned by developers. [more]

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  • Fontainbleau shopping center sells for $13M

    Mini mall anchored by CVS pharmacy
    October 29, 2014 04:30PM

    cvsA Miami-shopping center anchored by a CVS changed hands for $13 million, according to the South Florida Business Journal.

    An affiliate of Miami-based Orion Venture bought the retail center from Kiki Lisa Courtelis, who serves as trustee for the seller, a family trust. The property is a 60,692-square-foot retail plaza at 9720 Southwest 8th Street in the Fontainbleau section of Miami-Dade County. The buyer assumed the seller’s mortgage. [more]

  • Miami home prices up 10.5%

    But pace of price increases is slowing for tri-county area
    October 29, 2014 03:45PM

    up arrowMiami had the strongest showing among 20 cities for home prices in August, according to the S&P/Case-Shiller index.

    Prices for homes in Miami increased 10.5 percent in August from a year ago, the Miami Herald reported, achieving the highest annual gain among 20 cities tracked by the index. But there’s a wrinkle: despite the gains in prices, the pace appears to be slowing. In February, home prices were up 16 percent over last year, the report said. [more]

  • New hotel and condo proposed on Washington Avenue

    Developer is grandson of Abe Resnick, who demolished art deco New Yorker
    October 29, 2014 03:00PM
    Rendering of Andrew Resnick's proposed building (via Curbed)

    Rendering of Andrew Resnick’s proposed building (via Curbed)

    In an ironic twist, the grandson of developer known for demolishing the art deco New Yorker Hotel wants to build a new hotel and condo project on a block of historic buildings.

    Andrew Resnick, grandson of Abe Resnick, is proposing a large tower on Washington Avenue between Sixth and Seventh streets, home to a block of historic art deco buildings, according to Curbed. The project was previewed at a meeting of the Washington Avenue Blue Ribbon Panel on Monday. It is designed by Kobi Karp and would have 70 condos, 171 hotel rooms, and 40,000 square feet of office space above the ground floor retail, according to the site, which noted the project’s height exceeds current zoning would need a voter referendum. [more]

  • Related turns attention to Broward

    Lack of inventory makes county appear ripe for development
    October 29, 2014 02:15PM
    Patrick Campbell

    Patrick Campbell

    Related Group, known as a powerhouse developer in Miami, is focusing some of its attention northward.

    The company is making an aggressive push into Broward County’s multifamily market, according to the Daily Business Review. Plans include more than $1 billion in new development for thousands of apartments in Davie, Pembroke Pines, Plantation and Fort Lauderdale. Patrick Campbell, Related’s vice president, said Broward represented a logical move for the company because of its lack of inventory. [more]

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    Faena Miami Beach rendering and Alan Faena

    Remaining pieces of Faena Miami Beach advance through approval process. Vanilla Ice back on board as Grove Bed Race Grand Marshall. Huge Lennar gift fuels University of Miami’s eco-friendly revamp. Read those stories and more after the jump.

  • Wellington to require new rental licenses

    Single-family homes to be regulated with fees for inspection
    October 29, 2014 01:30PM

    forrentAttention landlords: Single-family rental homes in the Village of Wellington will soon need licenses.

    An ordinance to require licenses for all rental homes in the village, similar to an existing requirement for multifamily homes there, advanced with a council vote of 4 to 1 on Tuesday, according to the Palm Beach Post. The council is looking to change the fees associated with the ordinance and would replace the current $75 license fee and $25 inspection fee with a $50 fee for a rental property inspection. [more]


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