Monthly Archives

October 2018

Habitat Group announces new East River Living project

By | NEWS

Picking up on the momentum of the Miami River District, Habitat Group recently announced a new 34-unit apartment building, East River Living.

The building at 39 Northwest Seventh Avenue in Little Havana will sit along the west side of the Miami River. It is designed by Hernando Carrillo of HAC Architects & Urbanists and features a pool surrounded by greenery and a private gym.

The building is expected to be completed at the end of 2019.

Read the full article in the link below:

https://therealdeal.com/miami/2018/10/29/renderings-revealed-esj-capital-unveils-jungle-island-hotel-more/

Habitat Group announces its newest residential project, East River Living

By | NEWS

Habitat Group, led by Santiago Vanegas, recently announced its newest project, East River Living.

The developer recently invested $11 million to transform a 25,000-square-foot rentable area into an eight story, 34-unit residential building located at 39 NW Seventh Ave. East River Living will play an instrumental role as Habitat Group continues to expand its presence throughout Miami’s urban core.

Positioned along the west side of the Miami River, East River Living’s residents will have walkability to the bourgeoning Miami River District’s new restaurants, shopping and nightlife, and is located just a short distance from Brickell and Downtown.

“In every area we develop, our vision is to foster a stronger sense of community,” said Vanegas, CEO of Habitat Group. “Our goal for East River Living is to create a pedestrian friendly destination that appeals to the area’s current residents and allows them to take advantage of all that the neighborhood has to offer.”

The multi-family building will include studio, one- and two- bedroom apartments and private parking. Residents will have access to amenities including a resident pool surrounded by lush greenery, as well as a private gym with free weights and cardio machines.

East River Living was designed by Hernando Carrillo of HAC Architects & Urbanists, a highly qualified architect who focuses on community development. With over 35 years of design and development experience in Florida, the firm has designed and built numerous townhomes and condominium projects including Habitat’s Smart Brickell, Millux, the Jefferson Hotel and Habitat Residence. Carillo implemented a unique color block design for East River Living, which will provide a fresh take to the area.

The units’ sleek, modern finishes and stainless steel appliances are ideal for those seeking a minimalistic, sophisticated apartment.

With projects like East River Living, Habitat Group is filling a need in the market for attainably priced, end user products in a downtown, urban setting. Completion of the development is slated for the third quarter of 2019. Habitat Group also is expected to break ground this quarter on Smart Brickell and has plans to add another multi-family building to its portfolio.

Read the full article below:

https://communitynewspapers.com/biscayne-bay/habitat-group-announces-its-newest-residential-project-east-river-living/

Habitat Group plans another mixed-use project in West Brickell

By | NEWS
The firm’s latest development will include 108 luxury condos, a hotel and retail space
By Ina Cordle | September 21, 2018 05:35PM

Habitat Group, which is developing the mixed-use complex Smart Brickell, just bought another development site in West Brickell where it plans to build a hotel and condo project, The Real Deal has learned.

The firm, led by president and CEO Santiago Vanegas, paid $14.5 million for an apartment building at 143 Southwest Ninth Street in Miami. Vanegas said plans are to replace the existing building with a 36-story development that will include 108 luxury condos, 60 hotel rooms and 12,000 square feet of ground-floor retail space. Construction would begin in two years.

Constantino Heredia, broker and owner of CE Realty, represented the seller in the off-market deal. Records show the seller is W.G.R. Investment Inc., led by Evelio Garcia. The entity paid $1.2 million for the property in 1997.

The sale price for the 30,000-square-foot development site translates to $483 per square foot. The property now houses a five-story, 39-unit apartment building from 1968, records show. It is zoned for commercial, hotel and multifamily development, which allows 24 stories by right and 48 stories with a bonus, Heredia said.

Vanegas said the total cost of the development will be $59.6 million with a $48.7 million sell-out of the condos. There will be a $26.4 million valuation of the hotel and $6.6 million for the commercial space, for a total sellout of $81.7 million, and expected profit of $22.1 million.

The site is about a block away from Habitat’s planned Smart Brickell development. Last year, the firm completed assembling land for the project, paying a combined $21.6 million for the 1.23-acre development site on Southwest Ninth Street, between Second and Third avenues. Vanegas said construction will begin next month.

Smart Brickell will be a mixed-use hotel and residential project with three towers — each with a 50-room hotel, two with 50 condos and one tower with 70 condos. The eighth floor will have an amenity deck with a pool to be shared by all three towers. The first, 50-unit condo tower is already sold out, Vanegas said.

Habitat is also planning to develop a hotel, called Millux, with 114 rooms in West Brickell, between Second and Third streets and 11th and 12th streets. Arquitectonica is designing the project, and construction is expected to begin within eight months, he said.

Other developers are also targeting West Brickell for redevelopment. Zom is building Maizon at Southwest Second Avenue and Southwest 12th Street. The 24-story mixed-use apartment project will have 262 apartments and nearly 15,300 square feet of retail space on the ground floor.

Habitat is also midway through construction of East River Living, a 34-unit apartment building at Northwest First Street and Northwest Seventh Avenue in Little Havana. The building is expected to be completed at the end of 2019, Vanegas said.

Read the full article:

https://therealdeal.com/miami/2018/09/21/habitat-group-plans-another-mixed-use-project-in-west-brickell/

Habitat Development plans condo/hotel in Brickell, two more projects

By | NEWS

South Florida Business Journal

By: Brian Bandell

Habitat Development has announced a slew of new developments in Miami’s urban core, as the company moves closer to breaking ground on Smart Brickell.

The Miami-based developer, led by CEO Santiago Vanegas, recently acquired the apartment building at 143 S.W. Ninth Street for $14.5 million. Vanegas said he plans to redevelop the 30,000-square-foot site with a 36-story condo that would include 108 condos, 60 hotel rooms, and 12,000 square feet of ground-floor retail space. He expects to start construction in about two years.

“The total cost for the development will be $59.6 million with a $48.7 million sell-out of the condos,” Vanegas said. “There will be a $26.4 million valuation of the hotel and $6.6 million for the commercial space, for a total sellout of $81.7 million, and expected profit of $22.1 million.”

While some condo developers are holding back on launching new projects amid a slowdown in new condo sales, Habitat Development has been bullish on the market.

Smart Brickell launched sales in summer 2017. It will have three towers at 229, 239 and 243 S.W. 9th Street, about three blocks from the apartment complex Habitat Development just acquired.

The first tower of Smart Brickell, which will have 50 condos and 50 hotel rooms, is 100 percent pre-sold, he said. The second tower will be the same size, and the third tower will have 70 condos and 50 hotel rooms. Smart Brickell will also have 30,000 square feet of retail space.

Vanegas said he expects to start demolition work for Smart Brickell by the end of October.

 

Read the full article:

https://www.bizjournals.com/southflorida/news/2018/10/10/habitat-development-plans-condo-hotel-in-brickell.html

 

Developer has big plans for towers, hotels, apartments near downtown Miami

By | NEWS

A developer plans to knock down old duplexes to build condo towers and hotel rooms near Miami’s downtown.

Santiago Vanegas, CEO of Habitat Group, is behind multiple projects he says will expand his presence throughout Miami’s urban core. He said he needs to move quickly because land is running out.

 

“Big developers or big players must buy complete buildings to knock down middle-size buildings to make new projects because there is no land available in the Brickell area,” he said. “That’s why we made a very aggressive investment strategy.”

His projects include:

Apartments: An $11 million project known as East River Living is being built on empty land at 39 NW Seventh Ave. It will feature 34 rental apartments (studio, one- and two-bedroom units) and amenities such as a pool and gym. Units will range in size from 500 square feet to 850 square feet, and prices will start at $1,300 a month.

Completion of the eight-story rental apartment building along the west side of the Miami River is expected in the third quarter of 2019.

“It’s very attractive for the people who work on Brickell,” he said, because it’s a five-minute drive away.

Condo and hotel towers: His three-tower, $60 million Smart Brickell project will break ground by year’s end at 229 SW Ninth St.

The first tower — Smart 1 — will have 24 floors, with 50 hotel rooms on the second through eighth floors, and 50 condos on the ninth through 24th floors.

Two duplexes on-site will be demolished by the end of the month, and construction is expected to begin in February, he said.

The Smart 2 tower will have the same configuration of 24 floors of hotel rooms and condos. Two duplexes will be demolished by the third quarter of next year, and construction is expected to begin by the end of 2019.

Smart 3 will have 50 hotel rooms and 70 condos in a 26-story building. Three duplexes in its path will be torn down.

The towers will share amenities: Tower 1 will have a spa; Tower 2 will have an event room; and Tower 3 will have office space and restaurants. All of them will share a pool.

Homes generally will start in the $300,000s and top at $600,000s.

The hotel rooms will make up the Smart Brickell Hotel, which is Vanegas’ company’s brand. Vanegas said he has built four other hotels in the last eight years surrounding Brickell Avenue and Little Havana.

More hotels: Vanegas has more in the works. He said he is planning two other hotels, with 57 units each, about three blocks away at 239 SW 12th St. He bought that land earlier this year, and the hotels are in the zoning approval process.

More apartments: About two weeks ago, he closed on land at 143 SW Ninth St. that now has a 39-unit apartment building. Within two years, he said, he plans to build a 36-story project: a 108-unit condo tower, a hotel with 60 rooms, plus 12,000 square feet of commercial space.

 

Read the full article:

http://www.sun-sentinel.com/business/fl-bz-miami-hotel-chain-apartments-20181015-story.html