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April 2019

Comienzan las obras de Smart Brickell en Miami

By | NEWS
March 29, 2019 – 5:03 PM  – By  CÉSAR MENÉNDEZ

Santiago Vanegas, president of Habitat Group, sees the modern building as a milestone for his company engaged in five other projects west of Brickell. The first of the three mixed-use towers is fully sold.

 

Santiago Vanegas, president of Habitat Group, presided over the construction commencement ceremony for the first tower of the Smart Brickell building complex that will be built over the next 24 months at 229 SW and 9th Street in Miami.

When taking the floor, Vanegas thanked the entire team that has participated in the creation and planning of the project of more than 100 million dollars of investment, consisting of three mixed-use towers, with two and three-bedroom smart apartments.
The young businessman commented that 100% of the first tower has been sold. Where 50 units will be located in the upper part and 50 hotel rooms in the first levels.

“The construction project has been fulfilling its license and listing cycles. We have defined the construction prices. We have been signing with contractors and subcontractors. And finally we got the foundation permit. Now we are at the moment of starting construction, ”he explained exclusively to DIARIO LAS AMERICAS.

Smart Brickell is marketed by Cervera Real Estate and is being sold fully furnished.

For its part, the interior design and the furniture of the units were designed by Arquitectónica, an icon of modern design, which has created comfortable and harmonious spaces within the property.

The mixed-use complex will have 170 residences and 150 hotel rooms.

The apartments sell for between $ 290,000 and $ 490,000, and their sizes range from 558 to 878 square feet.

“I think it has been very well received by the market, since it meets the needs requested by investors and the current owners of the units. Furthermore, it achieves the harmony of three key elements: flexible use, design and technology ”.

The apartments will be equipped with smart systems that will control energy efficiency, allow air conditioners to be controlled remotely, turn lights on and off, and raise and lower blinds. Each unit will be provided with an Alexa personal assistant.

This is a project considered anti-cycle, as it will be the only building to be completed in the area throughout 2021. Almost a year after the construction boom that shook Brickell. For this reason “the  brokers , who know the market well, have trusted the building,” said Vanegas.

“For us, Smart Brickell marks a milestone. We have seven other executions in a row to this one. Six in this same area and another in areas of the Miami River ”. The latter is a 34-unit rental building “known as East River Living that we will deliver in 10 months,” he concluded.

 

https://www.diariolasamericas.com/economia/comienzan-las-obras-smart-brickell-miami-n4174604#fotogaleria-id-6087148

Habitat Group breaks ground on Brickell condo project

By | NEWS

By Brian Bandell  – Senior Reporter, South Florida Business Journal

Habitat Group broke ground on the first phase of its Smart Brickell condo/hotel project in Miami, and revealed a significant change for a future phase of the project.

The first and second phases of Smart Brickell will each have 50 condos and 50 hotel rooms, but the third phase will no longer have 70 condos and 50 hotel rooms.

Habitat Group CEO Santiago Vanegas said the third phase will have 100 apartments because the company wants to hold onto that rental tower as a long-term asset.

Vanegas said the change was not related to the pace of sales in the Miami condo market.

Each tower, at 229, 239 and 243 S.W. 9th Street, will have 10,000 square feet of retail space, he added.

“You have two types of product today,” Vanegas said. “You have the super luxury and then the alternative product. Smart Brickell is the alternative product because of the use of the units and the size of the units.”

The condos will range from 558- to 1,117-square-feet. Prices start in the low $300,000s.

In addition to living in their units or leasing them, owners have the option to do a short-term rental for up to 24 days a year, or lease the unit back to the developer for a fixed rent.

The developer would put the leased-back units into its hotel pool. Vanegas said these options will provide maximum flexibility for investors, who make up the bulk of his buyers.

The first phase condos of Smart Brickell is sold out, and it should be completed in the first quarter of 2021, Vanegas said. The second phase is about 66 percent pre-sold and Vanegas hopes to break ground in the third quarter of 2019.

The third tower should break ground in early 2020, Vanegas added. It has been redesigned so its common areas will be separate from the condo/hotel towers, he said.

Designed by Gensler, Smart Brickell has a furnishing package that comes with every unit. The building has modern technology features, such as Nest smart thermostat control, Lifx smart lighting controls, Amazon Echo and an iPad with each unit.

Amenities will include two pools, a spa, a fitness center, a business center, and a rooftop lounge.

“Smart Brickell is setting the tone for the type of developments Miami needs,” said Alicia Cervera Lamadrid of Cervera Real Estate, the broker for the project. “Selling out Tower 1 and reaching the 60 percent sales threshold for Tower 2 in a short amount of time is proof that Miami has a demand for this type of product.”

Vanegas said Smart Brickell required 50 percent deposits from buyers, with the amount paid in stages during the course of construction. He plans to sign a construction loan to help complete the project.