For Now, Related Keeping Brickell, Edgewater Condos On Hold: ‘Now Is Not The Time’

Related Group is keeping several downtown Miami area projects on hold – for now.

CEO Jorge Perez told the WSJ that “now is not the time” for projects the company has planned in the Brickell and Edgewater area, and that they temporarily remain on hold.

Perez added that he is confident that the market will strengthen in a year or two.

The article did not specify exactly which projects were on a temporary hold, but Perez was likely referring to two mega projects planned, One Brickell and Auberge. Each would have three towers, for a total of six.

One Brickell was first proposed five years ago in 2014, to be built at 444 Brickell Avenue next to the Brickell Bridge. It was planned to include three towers rising 82 stories (877 feet), 77 stories (828 feet), and 57 stories (635 feet) above ground.

One Brickell’s plans called for 1,400 residential units, 249 hotel rooms, 41,272 square feet of office, 24,263 square feet of retail, and 1,993 parking spaces. Arquitectonica was the architect.

Auberge was also proposed as three Arquitectonica-designed towers at 1400 Biscayne Boulevard. Sales launched for the first tower in 2016, before the project was scrapped.

Auberge would include 1,430 dwelling units, 1,680 parking spaces, and 13,150 square feet of retail, the plans showed.

At Auberge, two towers would have risen 60 stories (646 feet above ground) with a third at 530 feet above ground.

 

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Anonymous

Ok Im all for these developments as they would add great density to the core, however, before One Brickell gets going the bridge needs to be addressed in terms of either a tunnel or complete overhaul to alleviate the congestion. Can you imagine another 2000 cars on this corner? The last thing Jorge needs is more easy money our government leaders need to demand funds to solve the congestion problem before Related dumps another 2000 cars on this block.

Anonymous

Not a bridge or a tunnel we need to focus on providing amazing public transportation (not buses) so that people will leave their cars home and get around the city just like they do in an other major city around the world

Anonymous

so in other words just extend/expand the metromover.

Anonymous

Yes. The Metromover would be a great way to move within the city and to the beach if expanded and improved. I would also make it with a fee, we don’t need it to be free if it becomes a major transportation mode in Miami and it replaces cars (for the most part)

Anonymous

it’s never going to replace cars. it goes like 5mph. it is perfect for the area it covers, but nobody is going to get rid of their car for the metromover.

people on here keep talking about bringing in fees for the metromover. the problem is that it costs money to make money, and people here aren’t willing to pay that much for the metromover. even at $1, ridership would go way down. and, you’d have to set up faregates and have some sort of mechanism for policing fares. it’s idiotic.

leave the metromover free. maybe extend it slightly. get rid of the redundant trolley service (ie, why is there a trolley following the exact metromover line from brickell to arsht?).

Anonymous

This way of thinking is the problem. People will pay for the metromover when the option is to be stuck in traffic while you could have already arrived wherever you were going to. This isn’t something new, it’s being done everywhere all over the world already. We need to leave the old way of thinking in the past and we need to embrace the future and the future has surely less cars in it.

Anonymous

Metromover is barely faster than walking, and that’s when it’s not broken down somewhere. Nobody’s gonna pay for it or trade driving a car for it. That’s the REAL WORLD way of thinking.

Anonymous

Exactly. What kind of world class transit system in the world uses something akin to Metromover? Using it to solve Greater Miami transit woes outside of downtown would be like putting bike lanes on I-95.

Anonymous

Build a tunnel to the beach

Anonymous

Elon is that you?

Anonymous

Agreed but long term the bridge needs to be addressed and the public riverwalk needs to connect under it…

Reality

There is talk that Swire will do a P3 and provide climate ribbon over all sidewalks in Brickell and Downtown to promote alternate transportation means. Big win for Miami if this happens.

Anonymous

like maybe they can make the sidewalks wider first.

Anonymous

just like that “climate ribbon” creates a breeze in BCC? LOL…

Anonymous

Jesus Christ, get your head out of the sand. New York and DC have the most amazing public transportation and their traffic is still a nightmare. Why?Because there are people who prefer public transportation and people who prefer to drive. The solution is to have both and not chose one or the other. Miami needs amazing transportation as well as a tunnel!

Anonymous

Exactly! Building more car capacity will result in .. surprise .. more cars. We need alternatives to cars.

Anonymous

Why? Cars are great.
When I was young I used to have a lot of good times in my car.

Babies are born because of Men with cars.

In high school, mean with cars were the guys with the woman. Not that there is anything wrong with Alan Alda, skinny little weak males who are afraid to drive, and would prefer a train (but can only do that if real men pay for them). I think that they are fine.

When discussing the survival of the fittest, the fittest can afford and buy cars. Whether they use them or don’t (I don’t use mine much).

When little bureaucrats and academic daisies suggest that we “take the cars of the streets”, and those people outnumber the males who get laid often, there will be a significant reduction in population.

Fortunately, the population in Miami is increasing and the population of NYC, Chicago, and all the other blue states is decreasing.

There is hope for next generation. Drive on!

Anonymous

> Can you imagine another 2000 cars on this corner

simple solution: parking maximums not minimums.

Anonymous

Dude.
#1. To think that 2,000 cars pull out of this proposed building at the same time is ignorant.
People can afford to live here, are likely making Brickell money, and don’t really drive outside of Brickell much.
#2. If Jorge Perez makes money should be of no consequence to any thoughtful American.
#3. What exists on those parcels now, does not generate the Highest and Best Use for the space.
#4. Today, the Riverwalk is impeded at 444 Brickell. With Jorge Perez’s money, vision and determination, the public spaces are better. The incremental tax revenue that goes to Miami-Dade Schools and the community are extrodinary.

Got it?

Anonymous

the bridge would be great, but a cheaper and more effective way to combat congestion is traffic enforcement. Ticket drivers with stupid hazards on and drivers that make left turns from the right lane and you will decrease congestion by 50%

Anonymous

They need to focus on not allowing their residents to get murdered by security negligence like at Paraiso BAY

Anonymous

Related group just can’t market right, condos by other companies are still breaking ground months or years after Related postpone alot of their projects.

Anonymous

Jorge Perez and related almost went bankrupt in the real estate crash because of Icon Brickell. This type of traumatic experience makes you more conservative as a developer. It’s natural and normal.

Anonymous

Related doesn’t have the mojo anymore.

Anonymous

Hollo is still waiting on his 2 1049 foot projects. The old experienced developers are waiting till the next cycle.

Anonymous

He’s been “waiting” 10 years–2 cycles—it ain’t happenin

Sgt. Sapingo

This is not a news flash.

Anonymous

still waiting for One River Point to official break ground…

Anonymous

Any update with that^?

Anonymous

They just made a boatload of money selling thousands of cheap cookie-cutter condos. They have no need to rush they can sit tight until the moment’s right.

Anonymous

Anything happening at Aston Martin and Okan?

Anonymous

Aston Martin residences recently started the foundation process. Okan Tower however, is still on hold until the permits for construction are accepted.

Anonymous

Do itttt

Anonymous

Well, the good news is that we don’t have to endure more towers from Aquitectonica and cheap quality mass market products.

Anonymous

Yeah, but we’re still enduring Melo.

Anonymous

MELO isn’t exactly “luxury” but they are providing a market rate niche in places most developers have ignored for decades.

Anonymous

Smart to let the market absorb the new inventory that is still available.

Anonymous

The One Brickell footprint is preventing completion of the riverwalk, and that entire block of 1970’s government buildings is an eyesore. Wish they would just tear it all down while waiting for “the right time to build.”

Anonymous

what a smart businessman you are. Instead of collecting rent just bulldoze the place and collect noting and pay taxes on it.

Anonymous

2800 units…. hey commissioners, how about we fuc*ing get our rail transit in order????

Anonymous

They are holdings off because of the China tariffs!!

Anonymous

Yeah damn Trump

Anonymous

No, they’re not holding off because plastic junk at the Dollar Tree might become $1.25. They’re holding off because they don’t have a monopoly on the Greater Downtown Miami real estate market anymore, and have moved to greener pastures, such as Arizona.

Anonymous

Related made a Fortune after the crisis of 2008. How? selling overpriced condos to buyers who lost a lot of money making bad investments. BUYING PRE-CONSTRUCTION IS A TERRIBLE INVESTMENT. You are only financing the developer so he can build, but at the end the developer makes a big profit, the broker gets a big commission and the buyer loses 10-20% of what they paid because his unit is worth less of what he paid for. This applies to All pre-contruction projects. Please DO NOT invest there. just keep your money in the bank and buy when the building is completed. You will get decent deals from all the buyers who want to sell and have no option but to lose in order to sell.

Anonymous

What Rocket Surgery School did you go to ? I’m a real estate appraiser for 25 years. I’ve appraised plenty of pre-construction deals and watched as people flipped contracts prior to closing for $$$$$$$ profit. So for you to make a blanket statement that it’s a “TERRIBLE INVESTMENT” about “ALL” pre-construction projects is short sighted and plain ignorant. It’s all about timing and market conditions, my ill informed friend.

Anonymous

Where are all the Mana haters? Doesn’t Related deserve the same vitriol? God forbid a developer ever delays building on this forum. As one has already said, “Related can’t market right” although its founder is a billionaire.

Anonymous

are you freaking kidding ??!!! Related has built a lot of shit(ty) quality stuff but it has still built. All Mana(iac) has done is put a lick of paint on a big warehouse in Wynwood and opened that up.

Anonymous

Are you seriously comparing what Mana had done in this city vs. Related Group?

Anonymous

Related has built plenty of buildings already and yes i’m calling him out for not being able to market his new proposals while other developers are still building condos.

Anonymous

The most Mana has done is wynwood market place with its decaying parking lot and the convention space. And pretty much anyone could of renovated that warehouse to a convention space.

Anonymous

We need Tri-Rail to actually start arriving at Miami Central, then those passengers can get to Brickell on the Metro rail or the Metro Mover and use less cars.