Michael Stern is moving forward with massive Miami tower project

JDS’ 2.5M sf project includes 1K apartments, hotel, office and micro units

Miami /
Mar.March 03, 2020 02:30 PM
Michael Stern and a rendering of the project (Credit: JDS Development/SHoP Archictects)

Michael Stern and a rendering of the project (Credit: JDS Development/SHoP Archictects)

New York developer Michael Stern is moving forward with plans to build a $500 million mixed-use tower west of Brickell Avenue, which will include 1,000 residential units.

The Miami City Commission cleared the way for Stern’s JDS Development Group to work with the city on developing the massive site.

The 1.5-acre project calls for a 752-foot-tall tower. Part of the agreement with the city includes JDS building a fire station on the ground floor.

Stern plans to break ground on the 2.5 million-square-foot project this summer, beginning work without financing. He will seek financing in about a year.

The 62-story tower will include 1,000 rental apartments, 200 micro units, a 200-key hotel and about 250,000 square feet of office space. The development will also feature about 1,700 parking spaces. There will be no condo component.

JDS hired James Corner Field Operations, the landscape architecture and urban design firm behind the High Line in New York, to renovate Southside Park, at 140 Southwest 11th Street. New York City-based SHoP Architects is designing the project with Kobi Karp. SHoP Architects also designed Stern’s Brooklyn skyscraper at 9 DeKalb Avenue.

The developer would pay for and build an $8 million fire station and contribute about $2.2 million in cash for fire station equipment, according to The Next Miami, which first reported the payment breakdown.

JDS will also contribute about $5.4 million in public benefits and $200,000 in streetscape improvements, and pay for the renovations to the park and the transfer of development density rights, according to the report.

In South Florida, Stern is working on Monad Terrace, which will be completed at the end of the summer. The Atelier Jean Nouvel and Karp-designed boutique condo project will have 59 units at 1300 Monad Terrace in Miami Beach.

JDS was previously involved in a huge mixed-use project along the Miami River with Chetrit Group, but was bought out.


Related Articles

arrow_forward_ios
Jorge Mas, David Beckham and rendering of Miami Freedom Park (Getty, Arquitectonica)
Beckham’s mixed-use Miami soccer complex scores final zoning OK
Beckham’s mixed-use Miami soccer complex scores final zoning OK
JDS Development's Michael Stern and Major Food Group partner and co-founder Jeff Zalaznick with renderings of the project at 888 Brickell Avenue (JDS Development, Major Food, Illustration by The Real Deal with Getty)
Major Food Group exits JV in Stern’s Miami condo tower
Major Food Group exits JV in Stern’s Miami condo tower
Michael Stern with rendering of 1 Southside Park (DS Development Group and SHoP Architects)
Michael Stern’s JDS lands $86M loan for planned mixed-use Brickell high-rise
Michael Stern’s JDS lands $86M loan for planned mixed-use Brickell high-rise
(JDS Development, OKO Group, Cain International, PMG, Sieger Suarez Architects)
Here’s the pipeline of resi projects in Miami’s Brickell
Here’s the pipeline of resi projects in Miami’s Brickell
MFG co-founders, Jeff Zalaznick, Mario Carbone, and Rich Torrisi with Michael Stern and renderings of their planned Brickell Tower at 888 Brickell Avenue (JDS, Getty)
JDS, Major Food Group to launch condo sales of Brickell skyscraper
JDS, Major Food Group to launch condo sales of Brickell skyscraper
 E11even's Marc Roberts and Romie Chaudhari with 60 and 90 Northeast 11th Street (Marc Roberts, Abingtonemerson, Loopnet, iStock)
Puff, puff, pass: Developers win approval for downtown Miami medical marijuana dispensary
Puff, puff, pass: Developers win approval for downtown Miami medical marijuana dispensary
From left: David Beckham, former professional footballer and current president and co-owner of Inter Miami CF; Francis Suarez, mayor of Miami; and Jorge Mas, chairman, MasTec, along with a rendering of Miami Freedom Park (Getty Images, City of Miami)
Miami approves major lease for Beckham soccer stadium mixed-use development
Miami approves major lease for Beckham soccer stadium mixed-use development
L-R Carlos Rodriguez Jr. of Driftwood Capital, Alex Mantecon of MV Real Estate Holdings, and Jay Stein of Dream Hotel (MV Real Estate Holdings, Driftwood Capital, Dream Hotel)
Voters will decide fate of Dream Hotel-anchored riverfront project on Wharf Miami site
Voters will decide fate of Dream Hotel-anchored riverfront project on Wharf Miami site
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...