Tag Archive for: wynwood

double down

For some Miami developers, the last few months have provided an opportunity to “double down.”

“Our affordable division is extremely active,” Jon Paul PĂ©rez, executive vice president of Related Group, said during The Real Deal’s latest episode of Coffee Talks.

PĂ©rez noted that Related has broken ground on three projects in the last 45 days.

Another guest on the episode, Dezer Development founder Gil Dezer, also remains bullish on building across Miami. Last week, Dezer received the first approval for a massive project at North Miami Beach’s Intracoastal Mall, despite opposition. When asked about financing for the project, Dezer said that his company has been covering all costs.

“We don’t have financing today, but we don’t necessarily need it today either,” Dezer noted.

For PĂ©rez and Related — the largest developer in South Florida — there are opportunities away from the luxury beachfront markets.

“We’re very bullish in Wynwood,” Perez said. “I think that’s one of the neighborhoods that has the most growth potential.”

He noted that Related owns four sites there, which it will transform into 2,000 units, and is finishing a new headquarters in Coconut Grove.

The pair are competitors and collaborators: Dezer and Related teamed up on the Residences by Armani/Casa last year. Closings began in December 2019.

“It was just in time, Dezer said. “We had our opening party, and a week later, Covid happened. Sometimes you have more luck than brains.”

Click here to watch the YouTube video Coffee Talk with Gil Dezer & Jon Paul PĂ©rez for more top developer takes on the Miami market.

 

Source: The Real Deal

brewery

Boynton Beach‘s brewery district, like any area defined by a particular characteristic, is bound by its cluster of brewing companies.

The city joins a tiny club of municipalities in South Florida that have such an amenity. North Miami Beach made one in 2018 to entice new or established brewers via incentives even though it has no breweries yet.

Beer tourism has become a draw for cities. A survey commissioned by the Brewers Association in 2016 found that individuals went to 2.1 breweries on average in the past 12 months while visiting a city for a beer event. Travelocity even created a “beer tourism index” to show where “beercations” (vacations for the sole purpose of visiting breweries) are most popular, but South Florida doesn’t make the list.

Such districts tend to give an economic boost to their host cities, according to David Scott, Boynton Beach‘s director for economic development and strategy. But he adds that areas must already have the “organic” appeal before a city designates such a district.

The brewing companies Copperpoint, NOBO, and Due South existed before the creation of the district. Boynton Beach‘s brewery district doesn’t have geographic boundaries but is located in the industrial area of the city just west of I-95 or where breweries are normally permitted. There’s also Non-Prophet Brewing Company, which brews kombucha.

Scott uses Miami‘s arts neighborhood of Wynwood, home to at least four breweries and another the way, as an example of that kind of magnetism. With development experience in Atlanta and Baltimore, Scott immediately recognized the potential for his city.

“When we approach planning from that perspective, we look to create those destinations, or what I call experience centers,” Scott says. “Here we have an experience with a brewery district. We like to say that we’re progressive.”

The city lends a hand with encouraging breweries to grow by offering money known as community development block grants to help with construction. Only one brewery, Copperpoint Brewing Company, took advantage of such a grant, according to Boynton Beach special projects coordinator John Durgan.

These funds are separate from the city’s interior buildout and rent reimbursement grants, Durgan says, adding they’re not just for breweries. Other South Florida cities, such as Fort Lauderdale and North Miami, have awarded grant money to breweries.

Copperpoint‘s owner and head brewer, Matt Cox, says brewery and city officials sat through several roundtable meetings to create the district — which the city never really advertised.

Encompassing breweries in a special district and all within a relatively walkable distance from one other increases visibility from a tourist standpoint, Cox says. Visibility, and getting to the district without driving, is made even easier with a Tri-Rail station nearby. The existence of a brewery district could also be an ideal place for beer crawls. Cox calls it a “win” for everyone.

“You could drive down the road and not know we’re even here,” Cox says. “It kind of works well in numbers and creates a destination-type thing.”

 

Source: Miami New Times

Stand in front of marketing and production company C&I Studios Inc.’s office in Fort Lauderdale and, if you think it looks like a warehouse, that’s because it is.

But walk inside and see the full-blown workspace, including a 2,500-square-foot production studio, another 780-square-foot studio and a community space with bar and lounge.

C&I Studios is among the companies in South Florida, particularly those in the creative fields, opting for retrofitted warehouses as offices instead of glistening downtown high-rises or suburban offices where employees work in cubicles.

To read the rest of the story, click here to go to the Daily Business Review.