Michael Stern is moving forward with massive Miami tower project

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

TRD 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
Mayor Francis Suarez (Credit: BRENDAN SMIALOWSKI/AFP via Getty Images)

City of Miami could provide $2M in rent, utility assistance in May

City of Miami could provide $2M in rent, utility assistance in May
Michael Stern and a rendering of the project (Credit: JDS Development/SHoP Archictects)

Michael Stern sued over Brickell mixed-use tower with fire station

Michael Stern sued over Brickell mixed-use tower with fire station
Jorge Mas, David Beckham and a Miami Freedom Park rendering

Miami again delays vote on David Beckham’s soccer stadium deal

Miami again delays vote on David Beckham’s soccer stadium deal
Daily Digest Miami

Project with downtown Miami’s first brewery moves forward, startup aims to institutionalize investing in Miami condos: Daily digest

Project with downtown Miami’s first brewery moves forward, startup aims to institutionalize investing in Miami condos: Daily digest
From left: Francis Suarez, Jorge Mas, and David Beckham, with a rendering of the Miami soccer stadium

Miami commission wants contract for Beckham stadium deal by October

Miami commission wants contract for Beckham stadium deal by October
Babylon Apartments and Francisco Martinez-Celeiro (Credit: Google Maps and Wikipedia)

Showdown in Miami? Spaghetti Western star loses Brickell upzoning battle

Showdown in Miami? Spaghetti Western star loses Brickell upzoning battle
Rendering of Magic City Innovation District

Resident sues to stop Magic City Innovation District project

Resident sues to stop Magic City Innovation District project
Echo Brickell and Steven Pasko

Miami investment manager buys penthouse at Echo Brickell

Miami investment manager buys penthouse at Echo Brickell
arrow_forward_ios

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

Loading...