Category

NEWS

This week in Miami Real Estate

By | NEWS

Habitat Group is launching sales of the second tower at Smart Brickell, a condo, hotel and rental complex. The three-building project sold out the first tower, split between 50 hotel rooms and 50 condos. The developers plan to break ground on the next 25-story building in March 2019. Sales from the condo closed out around $19 million for the first tower and the estimated second, also split 50/50 like the first, is $19.5 million. Prices for units range from $300,000 to $600,000. Developer Santiago Vanegas said about 70 percent of buyers are investors and 30 percent are end users. Amenities will include a terrace, resort-style pools, a fitness center, a ground-floor café, a rooftop lounge bar and business center. Architects Hernando Carillo and Gensler are designing the project and Arquitectonica is designing fully finished units. Inside, apartments will feature smart home features, Bosch appliances and more.

https://miamiagentmagazine.com/2018/12/07/week-miami-management-hires-average-homeowner-age/

Smart Brickell Tower 2 Launches in Miami

By | NEWS

Several months since our last update, and progress at the future site of Habitat Group‘s three-tower Smart Brickell development in Miami has reached a major milestone, as Tower 2 enters into sales. With demolition crews still hard at work prepping the site, and Tower 1 already sold out, the well-situated, mixed-use development in the heart of the city is proving a hot spot for buyers.

The 25-storey Tower 2 will be comprised of 50 hotel rooms and 50 residential suites, the latter to range in size from 558-1,117 square feet, with a mix of one- and two-bedroom units. Representative of 30,000 square feet of new condo inventory, Tower 2 will be a sizeable addition to Miami’s bustling West Brickell neighbourhood.

Located at 239 SW 9th Street, adjacent to the I-95, and just a couple of blocks west of Brickell Village, Brickell Station, and the many shops, restaurants, and bars that populate the area, Smart Brickell will place residents and hotel guests within easy walking distance to all the city has to offer. Close as well to the Atlantic Ocean and Downtown Miami, Smart Brickell will be a top destination for those looking for a quick commute and a healthy, urban lifestyle.

With “Smart” in the name, it is little wonder that the development will be equipped with a great deal of technological innovation, including Nest, Alexa, and Bosch- and Lifx-branded in-suite tech. All three towers will share a full range of amenities, including a fitness centre, two pools, and an outdoor terrace. Set for completion by 2022, Smart Brickell will be a fine addition to the neighbourhood.

SkyriseCities will be sure to return to this project as progress continues. For more information, check out the associated Database file and Forum thread, and as always, feel free to join the conversation in the comments section below.

 

https://skyrisecities.com/news/2018/11/smart-brickell-tower-2-launches-miami

Habitat Group launches second phase of Brickell condo project

By | NEWS

Habitat Group is launching sales of the second tower at Smart Brickell, a condo-hotel complex with flexible short-term rental options.

The three-building project sold out the first tower, with 50 hotel rooms and 50 condos, and is planning on breaking ground on the 25-story building in March, developer Santiago Vanegas said. The condo sellout is about $19 million for the first tower and the estimated sellout for the second building, also with 50 hotel rooms and 50 condo units, is $19.5 million.

Smart Brickell is priced lower than most new developments in the neighborhood, with units ranging in price from $300,000 to $600,000. Vanegas said about 70 percent of the buyers in the first building are investors and 30 percent are end users.

The project offers owners the ability to rent their units out 24 times a year, or about twice a month. “We are seeing that the rental restrictions in most condos are limiting for a lot buyers that want to have more options,” Alicia Cervera Lamadrid of Cervera Real Estate said in a release. Cervera is handling sales of the condos, which range from 558 square feet to 1,117 square feet.

Buyers can also participate in a two-year, fixed annual leaseback program. Other developments are also beginning to offer looser rental restrictions, like YotelPad in downtown Miami.

Habitat Group expects to break ground on the second building later next year, between six and nine months of beginning construction on the first tower. The 1.23-acre project will also include a third building, similar to the first two.

Smart Brickell will feature an amenity deck with a terrace, resort-style pools, a fitness center, cafe on the ground floor, rooftop lounge bar and business center. Architect Hernando Carrillo and Gensler are designing the project, and Arquitectonica is designing the fully finished units. The apartments will include smart home features, Bosch appliances and more.

 

https://therealdeal.com/miami/2018/11/29/habitat-group-launches-second-phase-of-brickell-condo-project/

Miami Multifamily Catering To Every Interest Under South Florida Sun

By | NEWS

Tech-savvy Miamians will have a home at Smart Brickell when the Habitat Development property welcomes first occupants in 2020. Billed as a “smart integration of technology, modern design and unique usage” and encompassing three towers, the property at 175 SW 7th Street in the West Brickell neighborhood will offer fully-furnished residences that owners will be urged to rent using integrated technology and apps like Airbnb. Units will feature Nest and Echo smart home devices, and the development’s concierge app will enable residents to use smart phones to request services from their domiciles.

Read more below:

https://www.forbes.com/sites/jeffsteele/2018/11/30/miami-multifamily-catering-to-every-interest-under-south-florida-sun/#352ee924154e

Demolition Underway At Smart Brickell Site, Groundbreaking Expected Q1 2019

By | NEWS

Habitat Group has announced that they have sold out the first of three towers proposed at Smart Brickell, and started demolition at the site.

Two apartment buildings currently on the site are being demolished to make way for the first tower, the developer said.

Materials from the duplexes on the site now being demolished will be recycled for use in the new tower, as part of the developer’s focus on sustainability and environmental responsibility. LEED certification will also be obtained.

Groundbreaking is now expected in the first quarter of 2019, with completion in 2020.

Habitat has several other projects in the works in Brickell. They include an unnamed mixed-use hotel, residential, and retail project, one block from Smart Brickell. Habitat is also planning to develop Millux,  which will include two hotels with 57 hotel rooms each three blocks away from Smart Brickell.

 

Read the full article below:

https://www.thenextmiami.com/demolition-underway-at-smart-brickell-site-groundbreaking-expected-1q-2019/

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