Monthly Pre-Construction Updates - November 2017
Dec 17, 2017 December 17, 2017
There was a lot of buzz in the pre-construction market this November (and it wasn’t all Thanksgiving). Apeiron finally managed an approval after being stalled since 2015, both Arbor and Aurora broke ground, we could be looking at even smaller micro units in the future, and yet another condo project got shelved. Read on to find out this and more below:
A rooftop party was held to celebrate the grand opening of The Ivory residences in November. The waterfront, boutique building is home to 40 designer-ready condos. At 70% sold, the building features large terraces, glorious canal views and modern open kitchens. Residents of The Ivory can now move in to enjoy their rooftop pool, sundeck with barbecue spot, events/meeting room, gym and more.
Prices range between the low $700,000s and $2.6 million, with a choice of one to three bedroom residences
A completed Echo Brickell is moving forward with closings. At 97% sold, there are only a handful of condos left to be booked. Architect Carlos Ott and YOO Studio Design collaborated on this resplendent tower to ‘echo’ beach-style luxury in Brickell’s mainland. Standing 57 stories tall, the skyscraper is home to 180 limited edition residences custom-designed by Carlos Ott. Other 5-star amenities include an infinity-edge pool and deck, suspended gym and spa overlooking pool, resort-style food and beverage services, as well as exceptional concierge services.
Photograph : Courtesy of Echo Brickell
Chasing a Fall 2018 completion date, the 52-unit Arbor broke ground early November. Just north of CocoWalk, this boutique building will stand five stories tall once complete. Its bright, sophisticated interiors come designed by New York’s Samuel Amoia Associates. Residents can also look forward to enjoying a lush courtyard pool, social lounge, yoga-friendly rooftop terrace, outdoor cinema and more once ready.
Prices start at $799,000, with a choice of 1,474 to 2,150 sq ft. residences
Photograph : Courtesy of Arbor
We have another luxury condo project breaking ground this November. The 61-unit Aurora is all set to rise 17 stories in the exclusive Sunny Isles Beach. Highlights of this Verzasca Group project include a unique Jewish ritual bath – Mikveh, private sundecks with cabanas, indoor-outdoor yoga lounges, spa, fitness center and pool.
Prices start in the $900,000s, with a choice of two to three bedroom residences
Photograph : Courtesy of Aurora
A cocktail celebration marked the earlier than expected top-off for Merrick Manor. Exceptional progress has moved up the completion date from January 2019 to the last quarter of 2018. 227 elegantly appointed residences will populate this 10-story boutique building. Interiors by award-winning Steven G mark the luxurious project’s claim to fame. Other amenities include ground-level retail, a resort-style pool and deck, business center and engaging fourth-floor club lounge.
Prices range from the $500,000s to $3 million, with a choice of one to five bedrooms
Photograph : Courtesy of Merrick Manor
Marking another milestone in its progress, the L’Atelier topped off in November. Targeting a 2018 completion, the all-glass condo tower will feature 22 residences spread across 18 stories. Amenities at this waterfront building come designed in collaboration with Holly Hunt and Enzo Enea. Residents will be treated to multiple pools, a poolside bar, cabanas and BBQ area, hammock garden, private beach access, pool and beach attendants, double-height gym, meeting room and much more.
Only two residences remain - starting at $3,659,000
Photograph : Courtesy of L'atelier
With key zoning approvals in place, the Apeiron at the Jockey Club is finally looking to launch presales in the 2nd quarter of 2018. The development will bring a 120-unit, 90-key condo-hotel to the Biscayne corridor. Highlights of this multi-use project include designs by Pritzker-winning Rafael Moneo, a 5-acre health and wellness facility, 50-slip deep-water marina, tennis courts and multiple pools. The Jockey Club complex will also gain a new dog park, children’s playground, Bayfront promenade, improved landscaping and other upgrades.
If you qualify for a Fannie Mae loan, then developers at Canvas have great news for you. In an attempt to lure local buyers, NR Investments has lowered deposit requirements to 20% for domestic residents.
The 513-unit luxury building is approved for 95-97% financing by Fannie Mae. This also means that buyers who put down 20% will only need 5% equity if they qualify for a Fannie Mae, putting the rest back in their pocket. On track for a spring 2018 completion, Canvas boasts of several amenities including sunrise-sunset pools, eco-friendly gardens, yoga gardens, Zen treatment rooms, multi-media screening rooms, artwork in common spaces and much more.
Prices for remaining units range from $345,000 to $690,000, with a choice of studios, one and two bedroom residences
Photograph : Courtesy of Canvas
Developers of Bijou Bay Harbor bagged a $14 million construction loan, securing development of their 41-unit project. The waterfront condo sits a block from the Bal Harbour shops. Amenities include a rooftop lounge and pool, Bayside lounge and fire pit, outdoor bar plus dining and private boat slips.
Prices start from mid-$600,000s to under $2 million, with a choice of one to three bedrooms, each with den
Photograph : Courtesy of Bijou Bay Harbor
Miami Commission approves micro‘er’ micro-units
In step with the micro unit trend, the city commission passed an ordinance bringing the minimum size of micro units down to 275 sq. ft. (from its original 400 sq. ft.). This means micro units can get even smaller in Miami. The decision was taken in order to leave a smaller footprint, while making neighborhoods more walkable and quality housing attainable.
Fasano Residences – South Beach
Developers, the HFZ Capital Group, have decided to cancel their luxury condo project in Miami Beach. The 67-unit development was to replace the Shore Club hotel. Between 40 and 45 percent presold, the New York-based developer is in the process of returning deposits. One of the rumored reasons for cancellation includes Fasano withdrawing its brand association with the development. Fasano’s portfolio currently spans 15 restaurants and 4 hotels, with more in the pipeline.
Have an update to report? Let us know in the comments below. Or, leave a like if one of these pre-constructions has you excited?