Met Square Gets $42 Million Construction Loan, Residential Tower Planned

MDM has obtained a $42 million construction loan to build Met Square, according to the SFBJ.

The loan will allow for construction of a seven-story podium that includes a 1,780-seat Silverspot movie theater, along with 37,666 square feet of restaurant space.

MDM also intends to develop a tower above the theater. The developer had planned to build a 192-room hotel, but instead will now build 392 residential units, according to plans filed in November 2014.

A lawsuit by archaeologist William Pestle against the City of Miami over a deal that would allow for construction of Met Square above historic finds at the site remains pending.

15 Comments

  1. Anonymous

    January 5, 2015 at 2:42 pm

    GREAT news about the residential component. Hoping for rentals!

  2. Anonymous

    January 5, 2015 at 4:10 pm

    Can we see a copy of the filing for residential build out? Also, any word on a ground-breaking date?

  3. Marc305

    January 5, 2015 at 5:29 pm

    One step closer… I cannot wait! Two movie theaters, one in City Centre and one in Met Square, and all I have to do is take the metromover from Brickell. Awesome!!

  4. Obviously

    January 5, 2015 at 6:35 pm

    “A lawsuit by archaeologist William Pestle against the City of Miami over a deal that would allow for construction of Met Square above historic finds at the site remains pending.”

    This is what happens when you allow some “starving for attention archaeologist” to have a little voice in things.

    • Paul

      January 5, 2015 at 8:34 pm

      They are the worst, bc of them its been a pile of dirt for years, SMH

    • XVS

      January 5, 2015 at 8:57 pm

      Sucks to be archeologist in Miami, it’s not exactly an ancient Greece or Rome here. Miami archeologist is always laughed out of the room at any professional conference, so they are desperate to find something, anything.

      • Morons Above

        January 5, 2015 at 10:09 pm

        Yeah, just plow over remains of former Tequesta indian reservations and former structures from the first hotel built in Miami…typical lazy commentary by people who don’t care about anything but the $$$$$

        What is so difficult about incorporating the “pile of dirt” you guys are talking about into any design?

        Same issue with these developers who pay millions for acre lots and built high-density projects while contributing ZERO to development fees paid to the city or public transportation funds…

        Pathetic..

        • Obviously

          January 5, 2015 at 11:03 pm

          Sorry but I don’t possess such a “vast” imaginary mind like you. I guess I lost it when I grew up and stopped playing cowboys and indians. Most of the entire Indian nation was plowed over in this country so forgive me if I appear cold and callous about a small patch of dirt thats now supposed to educate me about a people from the banks of Miami’s shore who were downtrodden and driven to extinction. And excuse me for not being amused over some steps that a powerful hurricane was so gracious to leave the city of Miami intact. I mean, all they look like are…STEPS! And for your issue with developers fees and funds, you should take that up with your local politicians.

          Like Paul above said, I’m sick of looking at empty lots with nothing but “piles of dirt” and overgrown weeds on them.

          On with the development!

          • Marc305

            January 6, 2015 at 11:20 am

            @Obviously – I could not have said it better! You took the words out of my mouth. I will enjoy watching a movie about Indians in a new theater than looking at Indian “steps” and a pile of dirt!

          • marc

            January 6, 2015 at 2:20 pm

            Guess what? There’s both now.

        • XVS

          January 5, 2015 at 11:13 pm

          Looks like we have an angry “Miami archeologist” offering his “valuable” input. Yawn…

          • Obviously

            January 6, 2015 at 10:29 pm

            Hey Mark305, you better have a gym membership so you can keep that body in shape and weight down after eating all that buttery popcorn at TWO nearby theaters and riding on that nice cool air conditioned metromover.

            I love going to the movies.

            I’m so envious of you living in Brickell.

          • Marc305

            January 7, 2015 at 3:09 pm

            LOL, you right I love living in Brickell, I know traffic sucks! But I walk to work so it doesn’t bother me that much. Love movies and popcorn too, which is why I run a 5k three times a week in my gym! :)

  5. Mechanesthesia

    January 6, 2015 at 7:12 am

    Wow, how you guys “obviously” love to whine and jump on any excuse to seem “clever.”
    Maybe I missed something, but there is a building being built. Maybe you are blind or something, but there is no “empty lot.” This building was still built, and now has a unique attraction to it with the inclusion of this mini museum. Same thing with Icon Brickell, it was built and the circle was turned into a park for the condo.

    • Obviously

      January 6, 2015 at 10:16 pm

      “Wow, how you guys “obviously” love to whine and jump on any excuse to seem “clever.” Maybe I missed something,”

      Forgive us for the tantrums but I, and others you’re referring to, are guilty for having a teeny-weeny bit of reading comprehension:

      “A lawsuit by archaeologist William Pestle against the City of Miami over a deal that would allow for construction of Met Square above historic finds at the site remains pending.”

      Got that Mechanesthesia, if you didn’t, I’ll repost it for you? Also, I think you better inform the folks at The Next Miami that this building has already been “built” and they’re at least a year behind on covering this development (some of them were probably spiking the eggnog a little too generous during their newyear’s celebration and due to hangovers were thinking 2013 had just ended).

      “Same thing with Icon Brickell, it was built and the circle was turned into a park for the condo.”

      Aaawww gee, how sweet, the taxpayers of Miami and a few donors are the niciest people a rich person will ever meet. A wealthy developer who was going to build a tower on the Miami Circle site got paid (twenty five million without even putting a shovel in the ground), new condo dwellers in Icon Brickell got themselves a new park where their little poochies can take a dump, and the taxpayers got to feel all mushy and tingly inside for being such “good guys.” Makes you proud to be a Miamian. Doesn’t it?

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