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Habitat Group breaks ground on Brickell condo project

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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.

Why Brickell Is Miami’s Fastest-Growing Neighborhood

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Jeffrey Steele

In the middle of one of the world’s fastest-growing, most dynamic urban meccas exists one of the country’s most swiftly emerging neighborhoods. The city is Miami, and the neighborhood Brickell, a thriving district located in the city’s core, between Coral Gables and Miami Beach.

Even if you’ve never lived in or near Miami, you are likely familiar with the community of Brickell. It is so sizable that 45% of greater Downtown Miami’s population resides there, and it is such a tourism and business magnet that more than 15 million visitors go to Brickell every year. Not surprisingly, the last several years have seen the enclave welcome enormous amounts of development, including one now serving as home to a veritable United Nations of residents, Brickell City Centre.

It is also home to the largest concentration of international banks in the United States and is the second-largest financial hub outside of New York City’s financial district. Renowned as one of the hottest retail real estate markets in the United States, it is benefitting from the influx of newcomers to the Sunshine State, estimated by some to be 900 a day.

Of that total, a quarter are choosing Miami-Dade County as their new home, making the area a destination not only for travelers but for full-time and part-time residents. The district has a total population of 463,347 and is attracting a younger demographic of professionals between the ages of 25 and 44, with most out-of-staters from New York and Canada.

In fact, Brickell has grown so fast that developers are now exploring West Brickell, an area that has become a focus of development and an emerging neighborhood of Miami’s metro area. As an extension of the more established Brickell, it offers the same unmatched access to the Magic City, as well as restaurants, retailing, entertainment and transportation options.

Three hotel projects

Miami-based developer Habitat Group is among those embracing West Brickell, and specifically the Hospitality District of West Brickell. Leading that district’s metamorphosis are three primary projects: Millux Hotels, Brickell Lux and Smart Brickell. Millux Hotels, which is actually comprised of two sophisticated hotels totaling 114 Instagram-worthy rooms, provides a boutique hotel experience. Each hotel features a rooftop bar, lounge and pool.

Brickell Lux, situated adjacent to Brickell City Centre, brings a vibrant, elegant ambience to West Brickell. The mixed-use project features 108 residents, 60 hotel rooms and high-end shopping. Elegant finishes and private residential amenities are among its hallmarks.

Inspired by Habitat Group’s Smart Living philosophy and breaking ground today, Smart Brickell was created to synthesize flexible usage, the latest design thinking and up-to-the-minute technological advances. Three towers will comprise the mixed-use development. Tower 1 is to be a residential condominium tower with 100 residences, while Tower 2 is slated as a 100-room hotel and condominium structure. Tower 3 will feature 97 residential units and in addition incorporate 12,000 square feet of commercial space devoted to shopping, a restaurant and a cafe.

More developments

Other notable projects include Chetrit River Walk, a mixed-use development that will blend condominium, hotel and commercial space.

Also well worth mention is The Gallery at West Brickell. Upon completion, this condo residence will feature 287 units. The development will also provide affordable housing, workforce housing and a Miami-Dade School Board-approved school.

In all, West Brickell will serve the hospitality industry with more than 1,450 units, about 3,120 condominiums and 390,000 commercial spaces coming to the area by 2025.

Put it all together and it is little wonder many visitors and permanent newcomers to Miami are bypassing the trendier-than-thou destination of South Beach, and eagerly gaining a toehold in Brickell.

 

https://www.forbes.com/sites/jeffsteele/2019/03/29/why-brickell-is-miamis-fastest-growing-neighborhood/#5a19c6957cd0

La nueva transformación de la ciudad de Miami: Brickell 2020

By | NEWS

En estos momentos el Brickell es uno de los centros financieros más grande siguiendo a Nueva York.

El centro de Miami desde el año 2009 ha aumentado su población en un 38%. Uno de los vecindarios más grandes de Miami es Brickell, el cual acoge a algo más de un 45% de toda la población del centro de Miami. Además al área acuden más de 15 millones de visitantes anualmente.

Habitat Group, el desarrollador colombiano basado en la ciudad de Miami, está a cargo del proyecto que próximamente se conocerá como el Distrito Hotelero de West Brickell. El presidente y CEO Santiago Vanegas fue su fundador y  la agencia comprende a otros tres proyectos que transformarán a West Brickell incluyendo Smart Brickell, Millux Hotels y Brickell Lux.

En estos momentos el Brickell es uno de los centros financieros más grande siguiendo a Nueva York, y acoge a uno de los mercados comerciales inmobiliarios con más popularidad a nivel nacional. Un estudio reveló que diariamente unos 900 personas se mudan a la Florida, un 25% elige como destino el condado de Miami-Dade como su nueva residencia, evidenciándose que no solamente es una zona para viajeros, si no para residentes también. En East Brickell durante los últimos tiempos se han creado numerosos desarrollos incluyendo a varios destinos internacionales como Brickell City Center.

Algunos de los proyectos de uso mixto y residenciales que impactaran West Brickell incluyen:

Smart Brickell: El primer desarrollo “inteligente” de Miami, diseñado con uso flexible, inspirado por la tecnología.
Brickell Lux: Estará ubicado al lado de Brickell City Center y ofrecerá amenidades únicas dentro de las unidades y traerá un diseño moderno y lujoso al área de West Brickell.
Millux Hotels: Serán dos hoteles boutique con diseños impecables y acabados elegantes.

https://www.periodicocubano.com/la-nueva-transformacion-de-la-ciudad-de-miami-brickell-2020/

Brickell 2020, La Transformación del Horizonte de Miami

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Brickell es uno de los vecindarios más grande de Miami, siendo responsable de más del 45 por ciento de la población del centro de Miami.

Por Revista Summa

Desde el 2009, la población del centro de Miami ha subido por un 38 por ciento. Brickell es uno de los vecindarios más grande de Miami, siendo responsable de más del 45 por ciento de la población del centro de Miami. El área atrae más de 15 millones de visitantes incluyendo turistas y empresarios, anualmente. El desarrollador colombiano, basado en Miami, Habitat Group, está liderando el camino de desarrollos con lo que pronto será conocido como el Distrito Hotelero de West Brickell. Fundado por el presidente y CEO, Santiago Vanegas, la agencia inmobiliaria tienes tres proyectos iniciando la transformación de West Brickell incluyendo Smart Brickell, Millux Hotels y Brickell Lux.

Nuevos desarrollos: Actualmente, Brickell es el distrito financiero más grande después de Nueva York y tiene uno de los mercados comerciales inmobiliarios más populares en el país. Según un reporte de ISG, aproximadamente, 900 personas se mudan a la florida cada día. De estas 900 personas, el 25 por ciento eligen el condado de Miami-Dade como su nuevo hogar. Esta información demuestra que no solo es un área para viajeros, si no para residentes permanentes también. Durante los últimos años, East Brickell ha visto una gran cantidad de desarrollos incluyendo destinos internacionales como Brickell City Center. Ahora, desarrolladores están buscando hacia el oeste.

Algunos de los proyectos de uso mixto y residenciales que impactaran West Brickell incluyen:

  • Smart Brickell: El primer desarrollo “inteligente” de Miami, diseñado con uso flexible, inspirado por la tecnología.
  • Brickell Lux: Estará ubicado al lado de Brickell City Center y ofrecerá amenidades únicas dentro de las unidades y traerá un diseño moderno y lujoso al área de West Brickell.
  • Millux Hotels: Serán dos hoteles boutique con diseños impecables y acabados elegantes.

http://revistasumma.com/brickell-2020-la-transformacion-del-horizonte-de-miami/

Renderings Show West Brickell’s Future, Including Thousands Of New Residential Units

By | NEWS

New renderings show the extent of the transformation that West Brickell will experience over the next five years.

Developers are planning at least 3,120 condos, 1,450 hotel rooms, and 390,000 square feet of commercial space in a total of 11 projects slated for completion by 2024.

Data and renderings were provided by Habitat Group, which is developing several projects in the area.

Habitat’s upcoming West Brickell projects include:

  • Smart Brickell – set to break ground imminently, it will include three towers: Tower 1, a residential condo tower with 100 units; Tower 2, a 100-room hotel and condo tower; and Tower 3, with 97 residential units. The project will also include approximately 12,000 square feet of commercial space that will be used for a café, restaurant and retail.
  • Brickell Lux will include 108 residences, 60 hotel rooms and retail space.
  • Millux Hotels – two hotels will be built with a total of 114 rooma. Each hotel will have an independent rooftop bar, lounge and pool deck.

Other area projects will include Chetrit Group’s River Walk, and The Gallery at West Brickell, proposed by Related Group to include affordable, workforce and market rate housing.

https://www.thenextmiami.com/renderings-shows-west-brickells-future-including-thousands-of-new-residential-units/

La nueva transformación de la ciudad de Miami: Brickell 2020

By | NEWS

El centro de Miami desde el año 2009 ha aumentado su población en un 38%. Uno de los vecindarios más grandes de Miami es Brickell, el cual acoge a algo más de un 45% de toda la población del centro de Miami. Además al área acuden más de 15 millones de visitantes anualmente.

Habitat Group, el desarrollador colombiano basado en la ciudad de Miami, está a cargo del proyecto que próximamente se conocerá como el Distrito Hotelero de West Brickell. El presidente y CEO Santiago Vanegas fue su fundador y  la agencia comprende a otros tres proyectos que transformarán a West Brickell incluyendo Smart Brickell, Millux Hotels y Brickell Lux.

En estos momentos el Brickell es uno de los centros financieros más grande siguiendo a Nueva York, y acoge a uno de los mercados comerciales inmobiliarios con más popularidad a nivel nacional. Un estudio reveló que diariamente unos 900 personas se mudan a la Florida, un 25% elige como destino el condado de Miami-Dade como su nueva residencia, evidenciándose que no solamente es una zona para viajeros, si no para residentes también. En East Brickell durante los últimos tiempos se han creado numerosos desarrollos incluyendo a varios destinos internacionales como Brickell City Center.

Algunos de los proyectos de uso mixto y residenciales que impactaran West Brickell incluyen:

Smart Brickell: El primer desarrollo “inteligente” de Miami, diseñado con uso flexible, inspirado por la tecnología.
Brickell Lux: Estará ubicado al lado de Brickell City Center y ofrecerá amenidades únicas dentro de las unidades y traerá un diseño moderno y lujoso al área de West Brickell.
Millux Hotels: Serán dos hoteles boutique con diseños impecables y acabados elegantes.

 

https://cubamanece.com/la-nueva-transformacion-de-la-ciudad-de-miami-brickell-2020

Brickell 2020, la transformación del horizonte de Miami

By | NEWS

Desde el 2009, la población del centro de Miami ha subido 38%. Brickell es uno de los vecindarios más grande de Miami, siendo responsable de más del 45% de la población del centro de Miami. El área atrae más de 15 millones de visitantes incluyendo turistas y empresarios, anualmente.

El desarrollador colombiano, basado en Miami, Habitat Group, está liderando el camino de desarrollos con lo que pronto será conocido como el Distrito Hotelero de West Brickell. Fundado por el presidente y CEO, Santiago Vanegas, la agencia inmobiliaria tienes tres proyectos iniciando la transformación de West Brickell incluyendo Smart Brickell, Millux Hotels y Brickell Lux.

Nuevos desarrollos: Actualmente, Brickell es el distrito financiero más grande después de Nueva York y tiene uno de los mercados comerciales inmobiliarios más populares en el país. Según un reporte de ISG, aproximadamente, 900 personas se mudan a la florida cada día. De estas 900 personas, el 25 por ciento eligen el condado de Miami-Dade como su nuevo hogar. Esta información demuestra que no solo es un área para viajeros, si no para residentes permanentes también. Durante los últimos años, East Brickell ha visto una gran cantidad de desarrollos incluyendo destinos internacionales como Brickell City Center. Ahora, desarrolladores están buscando hacia el oeste.

Algunos de los proyectos de uso mixto y residenciales que impactaran West Brickell incluyen:

Smart Brickell: El primer desarrollo “inteligente” de Miami, diseñado con uso flexible, inspirado por la tecnología.
Brickell Lux: Estará ubicado al lado de Brickell City Center y ofrecerá amenidades únicas dentro de las unidades y traerá un diseño moderno y lujoso al área de West Brickell.
Millux Hotels: Serán dos hoteles boutique con diseños impecables y acabados elegantes.

https://miamidiario.com/brickell-2020-la-transformacion-del-horizonte-de-miami/

West Brickell 2020 Transforma la ciudad de Miami

By | NEWS

Miami es un destino conocido por su excelente clima, hermosas playas y gran variedad culinaria. El oeste de la gran avenida Brickell está bajo grandes cambios con la iniciativa de desarrollos que están transformando sus vecindarios y el horizonte de Miami a un paso muy rápido.

Desde el 2009, la población del centro de Miami ha subido por un 38 por ciento. Brickell es uno de los vecindarios más grandes de Miami, siendo responsable de más del 45 por ciento de la población del centro de la ciudad. El área atrae a más de 15 millones de visitantes incluyendo turistas y empresarios, anualmente. El desarrollador colombiano, basado en Miami, Habitat Group, está liderando el camino de desarrollos con lo que pronto será conocido como el Distrito Hotelero de West Brickell. Fundado por el presidente y CEO, Santiago Vanegas, la agencia inmobiliaria tienes tres proyectos iniciando la transformación de West Brickell incluyendo: Smart Brickell, Millux Hotels y Brickell Lux.

Desarrollos Nuevos

Actualmente, Brickell es el distrito financiero más grande después de Nueva York, y tiene uno de los mercados comerciales inmobiliarios más populares en el país. Según un reporte de ISG, aproximadamente 900 personas se mudan a Florida cada día. De estas 900 personas, el 25 por ciento eligen el condado de Miami-Dade como su nuevo hogar. Esta información demuestra que no solo es un área para viajeros, sino para residentes permanentes también. Durante los últimos años, East Brickell ha visto una gran cantidad de desarrollos incluyendo destinos internacionales como Brickell City Center. Ahora, desarrolladores están buscando hacia el oeste.

Algunos de los proyectos de uso mixto y residenciales que impactaran West Brickell incluyen:

Smart Brickell

El primer desarrollo “inteligente” de Miami, diseñado con uso flexible, inspirado por la tecnología.

 

Brickell Lux

Estará ubicado al lado de Brickell City Center y ofrecerá amenidades únicas dentro de las unidades y traerá un diseño moderno y lujoso al área de West Brickell.

 

Millux Hotels

Serán dos hoteles boutique con diseños impecables y acabados elegantes.

 

http://www.dlatinos.com/univision/west-brickell-2020-transforma-la-ciudad-de-miami/

Habitat Group plows ahead in Miami condo market

By | NEWS
By   – Senior Reporter, South Florida Business Journal

While some of Miami’s biggest condo developers have pumped the breaks, Habitat Group is moving full speed ahead with its Smart Brickell condo and lining up property for more projects.

Santiago Vanegas, CEO of the Miami-based developer, isn’t deterred by what some people are calling a market slowdown. This trained economist pays close attention to retail and market trends, and he believes Smart Brickell will be among the first projects delivered as the Miami condo market rebounds.

“We want to be the beginning wave of the next cycle,” Vanegas said. “We have alternative product, something different for the market.”

Habitat Group has become one of the most active developers in west Brickell and east Little Havana with four projects in the pipeline, and a fifth development site it owns. For Vanegas, it was truly a story of building from the ground up.

Vanegas studied economics in his native Colombia for five years and worked as an economist there before moving to Miami in 1998. Two years later, he landed a job with Edgardo Defortuna’s Fortune International Group, one of the largest condo brokers and developers in Miami. By 2005, Vanegas decided to step out on his own and form Habitat Group.

“I was very successful at Fortune and had a very good salary, but every night when I went to sleep I felt I could do a little bit more,” Vanegas said. “I felt I could make more projects on my own.”

He saw the new Miami 21 zoning code would greatly increase the density in West Brickell, so he decided to assemble property there, but first he needed to pool together some money. Vanegas said his biggest investors are the Roa family, which has agriculture and price farming interests in Colombia, and the Codovez family, which owns shrimp farms in Ecuador. He also personally invests in Habitat Group’s real estate funds.

For its first fund between 2005 and 2010, Habitat Group assembled about five acres in West Brickell. That was before the development of Brickell City Centre, so much of the activity in the neighborhood was centered around Brickell Avenue.

“Everybody wants to have the best location, and Brickell Avenue is just one of them,” Vanegas said. “Then you have the whole Brickell area. It’s a hospitality neighborhood.”

The company’s first project was Habitat One, which was originally conceived as a condo but quickly converted into a 25-unit rental in 2008. Vanegas realized the zoning allowed for short-term rentals, so he added furnishing to each unit and started operating Habitat One like a hotel via listings on vacation rental site HomeAway.

Habitat One’s income increased from $300,000 per year as apartments to $1 million per year in the first year as a vacation rental, he said. The building is now called Habitat Residences. Later, the company built a second phase with 55 units.

By 2012, Habitat Group sold much of its remaining property in west Brickell. Other developers have built projects such as Le Parc, Casa Brickell and the Atton Brickell Miami hotel on those properties, while Vanegas reinvested the proceeds in other deals.

Habitat Group acquired seven apartment buildings and two hotels in east Little Havana, the Jefferson Hotel and the Historic Miami River Hotel. All of them were renovated and later sold for a profit, Vanegas said.

“We started seeing the potential that Little Havana has,” Vanegas said. “Today, Calle Ocho is cool and full of tourists.”

For its third fund, Habitat Group has its biggest sellout target yet at $250 million, Vanegas said. It’s returned to the neighborhoods where it’s already experienced success.

Located at 229 to 243 S.W. 9th St., Smart Brickell is slated for three towers. The first two towers would each have 50 condos and 50 hotel rooms, while the third tower would have 70 condos and 50 hotel rooms. There would also be 30,000 square feet of retail.

Vanegas said the first tower is 100 percent pre-sold and should break ground in the first quarter. He recently launched sales on the second tower, asking $300,000 to $600,000 for units ranging from 558 to 1,117 square feet. The average price is around $600 per square foot.

While Habitat Group is marketing its condos, major Miami developers such as the Related Group and Melo Group are wrapping up their current condo projects and haven’t started sales for new ones. There’s been a slowdown in new condo sales for several years that has discouraged many developers from launching projects. The few condo projects that have started sales recently are targeting the luxury market, such as Aston Martin Residences and Una Residences.

Ron Shuffield, president and CEO of EWM Realty International in South Florida, said that new condos proposed in Miami’s urban core are facing tough competition from resales with lower pricing. The building boom has resulted in many recently-completed condos being placed on the market by investors. As a result, Miami-Dade County has an 11-month supply of condos priced under $1 million, based on the current sales pace, Shuffield said.

Despite these challenges, Smart Brickell’s strategy of targeting investors at price points that make renting out the units feasible should ultimately succeed because of the rapidly-growing population in Miami, Shuffield said.

“We feel the market and we are trying to do this anti-cycle,” Vanegas said. “The last condo project of this cycle, Brickell Flatrion, will deliver next year. That is the only new supply for 2019, then the supply on Brickell will stop. If you want to have product ready for 2021, you have to start construction today.”

Vanegas hopes Smart Brickell will open at a time when it will have less competition from newly-completed condos. He designed the units as smaller and more efficient, with furnishings included, to make them more attractive to investors who plan to rent them.

Technology is a main focus at Smart Brickell, as the condos will include a Nest smart thermostat control, Lifx smart lighting controls, Alexa by Amazon and an iPad with each unit containing a special app for the building.

To give condo investors more options to make money, Smart Brickell will allow them to use their units as short-term rentals up to 24 times per year, or they could lease the condo back to the developer for a fixed rent. Habitat Group would then include those leased condos in its hotel pool.

The developer doesn’t plan to retain a national brand or a hospitality management company for the hotel. Habitat Group will manage the Smart Brickell hotel itself, Vanegas said. In fact, the 15-person company has established a hotel management division and it’s open to managing hotels for other property owners, he added.

Habitat Group’s other projects are:

East River Living, a 34-unit apartment building under construction at 39 N.W. 7th Ave. in Little Havana.

Millux, a 114-room hotel planed at 239 S.W. 12th Street in west Brickell. Vanegas said the name denotes a luxurious experience for millennials. It will be full of decorations that will inspire “Instagram moments,” he said.

A mixed-use project with 108 condos, 60 hotel rooms, and 12,000 square feet of retail in the early planning stages at 143 S.W. 9th Street in west Brickell.

The company also owns a vacant lot at 36 N.W. 7th Ave. in Little Havana. Vanegas said he plans 50 apartments there.

“We want to find a way to keep these assets and give Habitat the opportunity to operate those properties in the future,” Vanegas said.

https://www.bizjournals.com/southflorida/news/2018/12/21/rej-habitat-group-plows-ahead-in-miami-condos.html?ana=e_mc_prem&s=newsletter&ed=2018-12-21&u=nExM5u6eTbqWklFN4pQ2vw0a04013a&t=1545404678&j=85669771