The Yotel Hotel is 45 stories and will have 264 small hotel rooms. It will be located on a vacant lot near a Metromover station and Miami Dade College. It was bought for $5.5 million in 2013. NE 2nd Acquisition, was approved for a 22% parking reduction. The review board signed off on the developers’ request to locate parking for the condo residents in nearby garages within 1,000 feet of the hotel. The review board authorized a total of eight waivers.
Two oncoming development proposed to the city of Miami have gone swiftly past approval with the Urban Design Review Board this past week and will be under the close eye of city officials in hopes to the green light to break ground.
M-Tower is the proposed 440-unit tower which will sit atop 56 Southwest First St in Downtown Miami. With a potential 637k SF for multi-use residential and commercial real estate, 900 SF of retail, 25k SF of offices and a pool deck. This technologically sound skyscraper is what the new reality of Miami’s projects are going to look like, setting a standard and a trend for many years to come.
Along with the approval of M-Tower comes the 12-story, 200K SF multi-use Megacenter sitting atop 420 SW 7th St, and 427 SW 8th St. Including its mini storage, plentiful retail and 4 stories of boutique offices, it offers and 8-story residential tower with a rooftop bar sitting over the massive city. Its 57 units and artisitic mural are sure to bring a lot of attention, and set a lot of the trends, that Miami will see in the next few years.
The four UDRB members were in favor and seconded the motion to approve M Tower in Downtown Miami. The 637,000 square foot mixed-use project was designed by Zyscovich Architects and is to be built on a 16,718-square foot lot at 56 Southwest First Street, that now still works as surface parking operated by the MPA.
A partnership by Jorge Brugo of Axis Realty Trust and Ian Ludmir of Forse Holdings plans to development a 600-foot high tower, with 440-apartment tower with 25,000 square feet of shared office space, and 900 square feet of retail, targeted to millennial. Brugo told The Real Deal that the apartments will be leased at market rate.
Jorge Brugo and Ian Ludmir, building atop a lot purchased from the Miami Parking Authority for $1.35M in 2014 and investing more that $6M towards fixing up the parking authority’s 50-year-old garage on 70 SW First St. in Downtown. They will add some 160 public parking spaces, and transform the current 658 parking space garage into an elegant tower.
M-Tower dwellers, however, will have to pay a monthly fee, like more downtown area residents, for the right to park in the controlled garages. The future 637,000 Sq Ft project, designed by Zyscovich Architects, is headed towards 600 feet and 440 apartments. with 25,000 Sq Ft of shared office space, 900 Sq Ft of retail and a pool deck, Brugo spoke about the project, stating it will be leasing rooms at a market rate between $2.7 and $2.85 a square foot.
The is proposed project as part of the redevelopment of the Miami Parking Authority Cultural Center Garage at 70 Southwest First St. Designed by architect Zyscovich, the 628-foot tower is to include 440 residential rental units, 25,000 square feet of shared office space, and limited ground level retail.