Owner of Cuban restaurant seeks to build co-living in North Beach, Dania Beach’s $634M mixed-use development moves forward: Daily digest

A daily roundup of South Florida real estate news, deals and more for August 28, 2019

TRD MIAMI /
August 28, 2019 03:25 PM

Every day, The Real Deal rounds up South Florida’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page throughout the day. Please send any tips or deals to [email protected]

 
Rendering of 6970 Collins Avenue

Rendering of 6970 Collins Avenue

Las Vegas Cuban Cuisine owner wants to build co-living in North Beach. The family that owns Las Vegas Cuban Cuisine, a group of popular Cuban restaurants, is looking to redevelop its location in North Beach into co-living. Las Vegas Beach Corp. filed plans for a 24,265-square-foot, 55-foot building at 6970 Collins Avenue. [TRD]

 

Blackstone’s apartments in Stuyvesant Town to remain vacant. Blackstone Group is keeping some rent-regulated apartments at Stuyvesant Town and Peter Cooper Village vacant, sources say, after changes to the rent law impacted landlords’ ability to reap profits. [TRD]

 
Rendering of the Dania Beach project

Rendering of the Dania Beach project

Dania Beach massive mixed use project moves forward. City commissioners agreed to work with a developer to build a new city hall in Dania Beach as part of a $634 million mixed-use development. The commissioners voted unanimously Tuesday night to direct city officials to negotiate a development agreement with a joint venture of Virginia Beach, Virginia-based Armada Hoffler Properties and Boca Raton-based Capital Group. [TRD]

 

Affordable housing is set to take the place of scrapped Wave streetcar project. A $31 million, 7-story affordable housing project is planned for the former location of the Wave Streetcar in Fort Lauderdale at 1801 Southwest First Avenue. The city awarded 2.3 acres to the housing authority last November after the streetcar project failed. The development will go before a city board next month and, if approved, construction will begin in mid-2020. [Sun Sentinel]

 

A former Massachusetts textile magnate snags a unit at the Bristol in West Palm Beach. The development group, led by Al Adelson and Gene Golub, sold unit 903 to Paula and Richard VanDernoot for $5.2 million. The 25-story, 69-unit tower, at 1100 South Flagler Drive, has units ranging from 3,600 square feet to 14,000 square feet, priced from about $5 million to more than $40 million. [TRD]

 

BTI Partners buys 1,400 acres in Central Florida for $40 million. Fort Lauderdale-based BTI Partners bought nearly 1,400 undeveloped acres in Osceola County in what is one of the Orlando area’s largest land purchases of the year, according to the Orlando Business Journal. It sits on the west side of Florida’s Turnpike from Kissimmee Park Road to the Three Lakes Toll Plaza. The sellers were tied to the Whaley family. Development may start in mid-2020. The land has approvals for roughly 5,000 residential units and 2 million square feet of commercial uses. [Orlando Business Journal]

 
 
Robert Zangrillo (Credit: Instagram)

Robert Zangrillo (Credit: Instagram)

Miami developer Robert Zangrillo appears to still be involved in the $1 billion Magic City Innovation District project in Little Haiti. Zangrillo is among the dozens of parents – including actresses Felicity Huffman and Lori Loughlin – indicted earlier this year for their participation in the largest-ever college admissions scandal in the U.S. But it looks like Zangrillo, a Miami Beach resident and founder and CEO of Dragon Global, is still involved. Twice in August the Silicon Valley investor posted about the project on his personal Instagram account. [TRD]

 

President Trump says there are no bedbugs at Doral golf resort. President Trump disputed a resurfaced report that the Trump National Doral Miami golf resort has bedbugs after he proposed hosting next year’s Group of Seven summit at the property. Trump took to Twitter to respond to social media posts stemming from a 2016 lawsuit by New Jersey insurance executive Eric Linder, who alleged he was bitten by bedbugs in his room at the Trump Doral golf resort, according to the Wall Street Journal. [TRD]

 

Odebrecht is planning to file for bankruptcy. The troubled Brazilian engineering giant Odebrecht S.A. filed a Chapter 15 bankruptcy protection request in New York on Monday. At least six Brazilian banks are owed money by Odebrecht along with U.S. firms such as BlackRock Securities and Fidelity Investments, according to the Miami Herald. The Chapter 15 filing does not appear to impact Odebrecht’s operations in Miami. The company has built highways, airport terminals as well as the waterfront American Airlines basketball arena. [Miami Herald]

 

Tropical Storm Dorian is projected to hit Puerto Rico. The storm gained strength overnight and is now expected to hit eastern Puerto Rico Wednesday afternoon. Projections call for 4-6 inches of rain on parts of the island and sustained winds of 60 mph, according to the Miami Herald. Just two years ago the island was hit by Irma and Maria in 2017 and many areas are still recovering from the storms. Puerto Rico’s Housing Administration claims that between 25,000 to 30,000 people still don’t have permanent roofs after Maria, according to the Herald. [Miami Herald]

 

Compiled by Keith Larsen


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