It currently offers 1,600 beds across two- and four-bedroom apartments, as well as a fitness center, community center, swimming pools and a fitness center. The first phase of Flamingo Crossings Village opened for students in the summer of 2021. The 79-story mixed-use tower is set to offer 739,000 square feet of office space, 60,547 square feet of retail space, an elementary school, a quarter-acre public plaza and 902 residential units, of which 25% will be designated as affordable.įlamingo Crossings Village, developed, owned and operated by American Campus Communities, is a purpose-built development exclusively for students in Disney Internships & Programs. “I don’t think in my 12 years at Dodge I’ve ever seen, in a high-end project like that, especially in a place like Miami, a fire station built into the ground floor,” Branch said.įollowing some years of inactivity, excavation work began in May at the future site of 625 Fulton Street, developed by the Rabsky Group. The ground level will also offer new facilities for Miami’s Fire Station No. location of Starwood Capital Group founder and CEO Barry Sternlicht’s Treehouse Hotel, 1,200 residential units, office space, commercial and event spaces and a variety of green spaces, including the redevelopment of the nearby Southside Park. “If you look at the architectural renderings of this, it actually looks a little bit like a tree house,” said Branch.įittingly, the property will include the first U.S. You’re still seeing Miami and Chicago and Boston, but it’s not as concentrated in New York City as as we saw prior to the pandemic.”īelow are the 10 largest new apartment projects that broke ground last year, as tabulated by Dodge: 1 Southside Parkĭeveloped by JDS Development Group with SHoP Architects and James Corner Field Operations, the 64-story mixed-use tower at 1 Southside Park will feature a mix of facade structures divided into sections, with landscaping across the exterior. “What we saw in 2021 is that this spread out a little bit more. “The top end of the list is always going to be dominated by megaprojects in Miami and New York City,” Branch said. Last year’s 10 largest apartment starts exemplify this shift, with two projects in Atlanta, one in Alexandria, Virginia, and one in Winter Garden, Florida. Many of these cities are also home to the largest and most expensive projects to break ground last year, although that balance is beginning to shift, according to Richard Branch, chief economist at Dodge Construction Group. Nearly half of these new projects were built in the country’s 10 largest metropolitan areas for commercial and multifamily starts. This boom corresponds with spike in demand for market-rate apartments, as well as rapidly rising rents. The multifamily sector is in the midst of a new construction boom, with $116.4 billion in new project volume started in 2021 - up 25% from 2020, according to Dodge Construction Group.
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