City of Miami

Miami Riverside Center Could Go To Vote In November

Miami Riverside Center

A deal to swap Miami Riverside Center, located a 444 SW 2nd Ave could go to vote in either August or November of this year, according to Miami Today.

The City of Miami has outgrown the building and is looking to sell the building in return for a developer to build a new office for the City elsewhere. 

Miami Riverside Center was initially for sale in August 2015.

In July 2016, Adler Group won a bid to replace Miami Riverside Center with Nexus Riverside Central, that would have two 36 story rental towers with 900 units, 150 hotel rooms and 20,000 square feet of retail/restaurant space. 

Adler Group also owns 1.6 acres of land next to Miami Riverside Center, which they purchased for $14.25 million in February 2016.

Apartment Towers Proposed For Miami Riverside Center

Last month, two bids were submitted for Miami Riverside Center from Adler Group and Panther Capital. One of plans by Adler Group has been revealed by The Next Miami. 

Adler Group wants to tear down the existing Riverside Center and replace it with apartment towers called Nexus Riverside Central. Nexus Riverside Central would consist of two 36 story rental towers with 900 units, 150 hotel rooms and 20,000 square feet of retail/restaurant space. As part of the deal, the City of Miami would get a 3% revenue over a 90 year lease. 

Adler Group would also combine the two apartment towers with land they purchased next to Riverside Center in July 2015 to build Riverside Tower. 

As part of the proposal, Adler Group would help the City of Miami finance a new office building at 375,000 square feet. Locations include next to Marlins Park and near the Lyric Theater in Overtown.

Virginia Key Marina Expansion Goes Back For Re-Bid

Virginia Key Marina

After three bids were submitted for a Virginia Key Marina expansion in February, the bidding process will now start over, according to The Miami Herald. 

City Commissioners voted to reject the bids and write new guidelines for the project that do not exceed the original 2010 master plan.

Two Bids Submitted For Miami Riverside Center

Miami Riverside Center

Two bids have been submitted for Miami Riverside Center located at 444 SW 2nd Ave along the Miami River, according to The Miami Herald.

The June 20th deadline to submit a bid for the 3.15 acre site were received by Adler Group and Panther Capital LLC. 

Adler Group is developing the 34 story rental Riverside Tower next door.

The City of Miami is looking to sell the property and hoping the the buyer will build a new 375,000 square foot building at a new site possible next to Marlins Park or next to The Lyric Theater in Overtown.

Miami Riverside Center Still For Sale

Miami Riverside Center

In August of last year, City of Miami officials were looking to sell their administrative building at 444 SW 2nd Avenue, Miami Riverside Center, for $22 million. 

The city revised a deadline of May 17 to June 20 to receive offers on the 3.15 acre site, according to Miami Today. 

Just North of the site, a proposed 34 story rental tower called Riverside Tower recently signed a utility deal.

Bids Submitted To Expand Virginia Key Marina

Virginia Key Marina

Three bids have been submitted to the City of Miami to redevelop Virginia Key Marina, according to The Miami Herald.

Part of the bids would be to increase the wet slips from 198 to 498, build a public boat ramp and pay $3.45 million towards a 45,000 square foot public garage. The restaurant Rusty Pelican is the only part of the 53 acres that won't need to be redeveloped. The base rent will be $2.15 million a year, plus a percentage of gross sales.

Photos Of Miami Marine Stadium Land Improvements

Miami Marine Stadium

Miami Marine Stadium

On February 10, construction began at the Miami Marine Stadium site to improve the grounds around the stadium. Workers have already removed a lot of the trees and fencing on the site. The price for the grounds renovations, which will include event space and a park will cost $18 million. 

The Miami International Boat Show will be held at the stadium grounds starting in 2016 on is on a year to year lease. 

Miami Commissioners are looking for an architectural and engineering firm to design the stadium restoration, which would come at a cost of about $37.8 million, according to the Miami Herald

The Village of Key Biscayne is suing the City of Miami and the Boat Show for fear that events held at the stadium will only increase traffic going in and out of Key Biscayne. 

An aerial video of the stadium can be seen here.