Zaha Hadid, the first woman to win a Pritzker Prize, an internationally renowned architect, and the designer One Thousand Museum, which is currently under construction on Biscayne Boulevard, died today at the age of 65 in Miami. She had contracted bronchitis earlier this week, and suffered a heart attach while being treated in the hospital. The internationally renowned architect had made her mark across the world, with commissions like the Maxxi art museum in Rome and the Olympic Aquatics Center, in London, as well as locally.
Rafael Moneo, with 50 years of international architectural acclaim and a Pritzker under his belt, is designing the planned Apeiron at the Jockey Club. The architect and developers Apeiron Holdings are hoping to bring some of the Jockey Club’s old groove back by building Apeiron on the site of the Club’s long-gone nightclub, said representatives of the project.
South Pointe Towers was built in the heady 1980s, a very, very different time from today, when it would still have been surrounded by a very pre-gentrified South Beach. This one-bedroom loft, with double-height living space and private terrace (ahem, lanai) looking out onto the building’s grounds, was updated much more recently but preserves the building’s original ’80s postmodernist flair.
Elysee, a luxury condominium tower coming to Edgewater that has the unusual characteristic of being wider at the top than the bottom, has officially begun converting its reservations to contracts, according to a representative. Crews are also preparing to demolish an existing building on the site to make way for the 57 story waterfront condominium tower.
Some of Miami’s biggest new condo towers are being planned with well-heeled, worldly families in mind, with larger units, more amenities for the kids, and ‘service suits’ to stash the live-in nanny. A few incorporate a theme park’s worth of diversions (think of the soccer field, boxing ring, and jam studio at Paramount Miami Worldcenter or the mini water park, indoor/outdoor playrooms, kid’s gymnasium, and rooftop theater of 1010 Brickell, both under construction) while developers of other buildings are focusing on really tricked-out and designed-up playrooms.
On April 10th 2014, this 960 square foot live/work loft at the intersection of Lenox Avenue and 16th Street in South Beach sold for $415,000, making its owner a $35,000 profit in less than two years. Not bad, not bad. It’s in an historic building, a block away from Lincoln Road, etc. Now, almost exactly two years later, the very cool and contemporary loft with tall 11.5 foot ceilings, a spacious floor plan, and a curved wall looking out on a corner frontage, has just walloped back on the market for $1.75 million, over four times as much as they paid for it. Could it be one killer investment in a really cool condo, a sign we’re living in a real estate bubble that will sooner or later pop, or both?
Gridics is looking for a Research Associate to manage and maintain our database of real estate development projects across South Florida, out of our Downtown Miami office.
The 2008-2011 market crash that left construction cranes dangling above Miami’s unfinished towers and unbuilt outer-suburban communities more-or-less came to a halt in 2010, marking the beginning of a recovery. Unlike that earlier condo boom when increased developments and prices in the outer banlieues mirrored the inner urban core (places like Downtown, Brickell, Edgewater, Coconut Grove, and South Beach) much more closely, suggesting that buyers previously wanted to live out there as much as in here, the core quickly took off and the suburbs did not.
Students from the University of Miami School of Architecture have created concept designs for the Biscayne Line, the stretch of bay walk planned to boarder Edgewater. The Related Group, which is developing the Paraiso district, and the recently completed Icon Bay, both in Edgewater, sponsored the design studio at UM last fall.
The formerly-neglected Miami River has seen incredible action in the last two real estate cycles, with literally billions of dollars trading hands and thousands of new units coming to market in buildings like One Miami, Flagler on the River, and Icon Brickell. Since the year 2000, the lower river (the section between Spring Garden and Biscayne Bay), including properties up to a single block inland, has seen $7.3 billion in recorded sales, with almost all of it ($7.08 billion to be exact) concentrated in the blocks between Biscayne Bay and I-95. In 2010, the most lucrative year in the river’s history, $1.089 billion in sales were made.