Three big projects, including 50-story Brickell office tower, breeze through Miami design board

Together they would add 207 hotel rooms, 252 rental units and nearly 500K sft of office space

Vlad Doronin and a rendering of 888 Brickell Plaza

Vlad Doronin and a rendering of 888 Brickell Plaza

A trio of major projects in the Arts & Entertainment District, Edgewater and Brickell had no problem sailing through Urban Development Review Board. On Thursday, board members voted 7-0 to approve Edgewater Hotel, 17th Street Tower and 888 Brickell Plaza with some minor design tweaks.

The Edgewater Hotel

Previously conceived as the Bentley Edgewater Hotel & Residences, the new Kobi Karp-designed project would be an eight-story hotel with 207 rooms, 139 valet-only parking spaces and a pool and amenity deck on the third floor.

Karp said the façade will be comprised of a mixture of glass and undulating aluminum louvers to cover the second-floor parking.

The review board authorized design waivers related to loading docks, parking and lot coverage. Located at 410 Northeast 35th Terrace, the project has reverted to developer Amaury Martinez. The Heafey Group is no longer involved.

888 Brickell Plaza

A proposed 50-story building with 940,000 square feet for primarily office use was granted waivers for upper level setback reductions, an increase in lot coverage and a minor reduction in the driveway width, among others. The applicant, Watson Brickell Development LLC, is an affiliate of Russian developer Vlad Doronin’s OKO Group.

Carlos Lago, an attorney for OKO Group, said the property, at 888 Southeast Brickell Plaza, near Brickell City Centre, will be the first major office building in the urban core during the last 10 years.

The tower, designed by Adrian Smith of Adrian Smith + Gordon Gill Architecture, would have about 15,000 square feet of retail space, 490,000 square feet of office space, and a restaurant on the 53rd floor.

17th Street Tower

Designed by Zyscovich Architects, 17th Street Tower is the latest residential project by NR Investments in the A&E District. The board approved waivers allowing micro units, one commercial loading berth instead of two residential berths, to extend the parking garage above the first floor and the primary frontage, and to reduce the number of required parking spaces by 30 percent.

The proposed 29-story building, at 90 Northeast 17th Street, would be the first NR Investments project with micro units, said Iris Escarra, a lawyer for NR Investments. The developer would also include more than 38,000 square feet of office space, 4,500 square feet of commercial space, and 224 parking spaces. The new building would rise on land rise immediately north of Canvas, a 37-story condominium tower recently completed by NR Investments, led by principals Ron Gottesmann and Nir Shoshani.

Manny Del Monte, an architect with Zyscovich, said the site poses several design challenges that required the waivers to the garage and for one loading berth.

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Canvas signs off on $70M loan, plans groundbreaking event

Renderings of Canvas
Canvas, the condominium tower planned for Miami’s Arts & Entertainment District, has signed off on its $70 million construction loan from Bank of the Ozarks, The Real Deal has learned.
NR Investments, developers of the 513-unit project, signed off on the loan on Tuesday, Ron Gottesman, co-founder and principal of NR Investments, told TRD. The funding had been in the works for months.
The 37-story project began construction two weeks ago and is now finalizing excavation. By the end of the week, work on pilings will begin, said NR Investments co-founder and principal Nir Shoshani. “So the 24-month process started last week.”
Canvas is planning a ground breaking ceremony on Feb. 23, with at least 350 guests, as a “celebration for the district,” he said.
Canvas, at 1630 Northeast First Avenue, is now 58 percent sold, with 298 units under contract, Gottesman said. Sales began in October 2014, and the project is now registered in New York.
So far, 50 percent of the buyers are domestic, mostly from New York, with some from Los Angeles, San Francisco, and even Hawaii. The other 50 percent is split between Europeans — from France, Germany, Spain and Italy, as well as Israel — and Latin Americans from Venezuela, Colombia, Argentina and Brazil. Chinese buyers also bought 12 units, he said.
Canvas has received Fannie Mae approval, which allows qualified domestic buyers to put down as little as 5 percent.
“Our target is the end-user and this is why we insisted on the Fannie Mae approval and are refusing any bulk buyers,” Gottesman told TRD.
The tower is aimed at the “affordable luxury,” segment of the market, with prices ranging from $300,000 to $550,000. Units will range from 620 square feet to 1,150 square feet, and average $483 per square foot, the developers said.
The building, which will include a restaurant by Kevin Aoki — son of Benihana founder Rocky Aoki — is targeting the 30-to-45 year-old sub-market, they said. Fortune International Realty is the exclusive sales and marketing firm for the project.
The tower was designed by CFE Architects. NR Investments paid $7.2 million for 1.1-acre site, which it acquired through an October 2013 bankruptcy auction. The company also paid $4.8 million in impact fees in 2014.
Canvas’ amenities will include sunrise and sunset pools, a fitness center, glass-enclosed racquetball court, spa and sauna treatment rooms, business center, and children’s playroom and lab.
NR Investments last year filed an offering plan with the New York State Attorney General, so that condo units can be legally marketed and sold there. The total listed sell out price for the project is $221 million, according to the documents filed in New York.
Canvas is one of three properties NR Investments owns in Miami’s Arts & Entertainment District, the former Omni area north of downtown. Shoshani and Gottesman developed the Filling Station Lofts, an 81-unit rental building at 657 North Miami Avenue. They also own a one-acre parcel between Northeast 14th and Northeast 15th Streets, on which they plan a mixed-use project including hotel, office and residential components.

Source: The Real Deal Miami