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One Ocean on South Beach
One Ocean is progressing fast since we last updated in November 2014.
The South Tower has risen and should be topped out close to the end of the month. The curved tower is in the process of having the windows installed on the lower floors.
The North Tower has completely topped out and the windows are installed. Soon, the balconies will be added.
For a rendering of One Ocean, click here.
Omni District in Miami
A site located at 1530 NE Miami Place in the Miami's Omni district has been listed for sale at $24 million, according to the Real Deal.
The 1.57 acre land is zoned for a 24 story building or 787 units.
The sale is all apart of the latest revival of the Omni district, with many new and purposive developments expected to happen in the future.
Located in the South of Fifth district in South Beach is developer Russell Galbut's house, which is under construction.
The building will include a robotic garage and feature a Red Ginger restaurant on the ground level. The building is starting to look more like the rendering.
Construction is expected to be completed by the end of the year.
Since then, a crane has been installed with the base of another prepared on the site.
The construction perimeter has been extended around the surrounding beach area.
Land Purchased In Red In West Brickell
Alfredo Coto of Millennium Developments has purchased two lots South of the Citgo gas station, which he bought in May 2014 for $9.25 million, to bring the total investment on the one acre site for $16 million.
The two lots purchased are located at 195 SW 9th Street and 161 SW 9th Street. The one acre site is approved for a 24 story building.
In July 2014, Coto bought land next to the Epic Hotel and Residences for $125 million.
The Starlite Motel across the street recently sold for $25 million in December 2014.
Overview of Construction
Rising quietly in Hollywood Beach, is Costa Hollywood Beach Resort located at 777 N. Ocean Drive. The project will feature two, six story condo/resort buildings with 304 rooms with a rooftop infinity pool and bar.
The building is being developed by Moses Bensusan of Liberty Grande and will be managed by Meliá Hotels.
Opening is set for sometime in 2015.
Miami's Omni District
After many purchases of vacant land in Miami's Omni District, the area looks to be heading towards a rebirth, according to the Miami Herald.
The neighborhood is located just North of Downtown, but South of Wynwood, Midtown and the Design District. Recent purchases in the area include 1400 Biscayne (Auberge Residences & Spa), Melo Group's land at NE 14th St & NE 1st Ave, and a $64 million transaction just South of the Miami Cemetery.
Land prices were around $60 a square foot five years ago have increased to $390 a square foot, but developers believe condos can be cheaper than Downtown, Brickell and Edgewater.
