The End of an Era - Last High-Rise on South of Fifth Completed

November 17, 2015   |   Multi-Housing News

The completion of GLASS, an 18-story boutique building in the ‘South of Fifth’ neighborhood, marks the end of an era in Miami Beach history.

has announced the completion of GLASS, its 18-story residential tower, designed by Rene Gonzalez Architect. Located at 120 Ocean Dr., GLASS marks Terra’s first residential tower in Miami Beach during this real estate cycle, as well as the last high-rise built in the ‘South of Fifth’ district, due to zoning restrictions.

With only 10 full-floor residences, GLASS reflects Terra’s low-density approach to development. The building’s first five floors house the common areas including the lobby, a swimming pool and a gym. An amenities deck offers residents lounging and sunning areas, an additional swimming pool and a spa.

With closings now complete, residents of the sold-out GLASS are expected to begin moving in later this month.

Terra’s next residential development, Eighty Seven Park, will soon rise a few miles to the north in Miami Beach’s North Beach neighborhood. Designed by Renzo Piano, the development will comprise 70 oceanfront residences adjacent to a 35-acre public park.

Miami Apartment Tower Nearing Full Occupancy

July 27, 2017   |   Multi-Housing News

By: Timea Papp

Read on: www.multihousingnews.com

The Terra Group’s Bayshore Grove, a 98-unit apartment tower in Miami’s Coconut Grove neighborhood, is 80 percent leased only six months after the company completed a full-scale renovation at the property. The seven-story building is occupied by a mix of young professionals, families and empty nesters.

Located at 2655 S. Bayshore Drive, the property features on-site management, 24-hour concierge services, an outdoor pool with private cabanas, a fitness center, a laundry service and a clubroom with coffee service. Additionally, the building offers bike storage, an outdoor yoga space, covered parking and valet dry cleaning. Apartment amenities include designer kitchens with modern cabinets, granite countertops, stainless steel appliances, plank flooring, impact-resistant windows and sliding glass doors.

STRONG DEMAND DRIVERS

Bayshore Grove sits on a 1.53-acre site across from the Grove Marina Bay, attracting renters who work in Coconut Grove, downtown Miami or adjacent neighborhoods including Coral Gables, Brickell, and Key Biscayne. The location offers access to the waterfront, nearby parks and Coconut Grove’s growing collection of restaurants, boutiques, and nightlife venues.

“We’re seeing strong demand from local millennials—university students, young professionals, area employees—who can’t necessarily afford to buy a new luxury condo but still want to take advantage of everything Coconut Grove has to offer,” said David Martin, president of Terra, in prepared remarks.

KW Property Management is spearheading leasing efforts at Bayshore Grove. Residents can choose from 16 different floor plans, with monthly rents for one-bedroom units available from $1,950 and two-bedroom units starting at $2,950.

Miami Luxury Project Tops Off

November 7, 2018   |   Multi-Housing News

A joint venture of Terra, Bizzi & Partners Development, New Valley and Pacific Eagle, has topped of Eighty Seven Park, a luxury condominium development in Miami’s neighborhood of North Beach.

Located at 8701 Collins Ave., the 18-story property was designed by Renzo Piano Building Workshop, marking the firm’s first residential project in the Western Hemisphere. With interiors designed by RDAI and landscapes sculpted by West 8, the 66-unit Eighty Seven Park is scheduled for completion by late 2019. Apartments range from one- to five-bedroom floorplans, varying from 1,400 to more than 7,000 square feet. Units will feature interiors offering large outdoor living spaces with summer kitchens, European-influenced kitchens and bathrooms, as well as the use of American oak, Italian stone and crystal glass walls. Common area amenities include:

  • concierge and butler service
  • outdoor Fugo juice bar
  • swimming pool with cabanas
  • library
  • Enoteca wine bar
  • private park and garden
  • Hammam spa with steam rooms and sauna
  • state-of-the-art fitness center

“We’re thrilled to watch our vision come to life,” David Martin, president of Terra Group, told Multi-Housing News. “We’ve always strived to construct projects that will have a positive impact on their surroundings and, by extension, the people who live there. Eighty Seven Park is no exception, and will offer a residential retreat that will bring a dynamic energy to the environment.”

The development team secured a $155 million construction loan for Eighty Seven Park in the fall of 2017.