New York-based JDS Development Group has secured about $86 million in funding to commence construction of a mixed-use tower dubbed 1 Southside Park, in the Brickell district of Miami, Florida. The project’s funding comes from a mortgage provided by Maxim Capital Group to a subsidiary of JDS in a $43 million land acquisition loan, which was doubled to $86 million.
The 1 Southside Park development which will be located between 11th and 12th streets at 191 S.W., is currently undergoing some initial site preparation and will occupy the length of an entire block west of the Metrorail line, on a $23 million property acquired by JDS in 2020.
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Features of the 1 Southside Park project
Development plans for the 1 Southside Park project, which is part of the Brickell Rapid Transit Zone, will include the construction of up to 190,000 square feet of office space, 1175 apartments for rent, 10,000 Square feet of retail space, a parking garage with a 1,400 vehicle capacity, and a 200-room Treehouse Hotel, owned by Starwood Capital Group. The high-rise project also covers enhancements to the surrounding public transportation by providing a pathway through which Underline’s Brickell Backyard can be accessed directly.
A new fire station estimated at $8 million will also be built inside the 1 Southside Park tower, based on the agreement reached between JDS and the city after the land purchase. Other terms of the agreement include JDS making a $5 million contribution towards the community’s development and a $3 million upgrade to the adjacent Southside Park, which was declared a brownfield in 2014.
Based on The Shop’s designs, 1 Southside Park has been modelled as a vertical stack of shifted volumes, intentionally designed to break down the scale of this 64-story high rise, consisting of a hotel, offices, residential units, wellness spaces and public arenas. The building design seeks to achieve the Florida Green Building Coalition’s high-rise certification by including several green features such as the planted terraces and edges, along with the interconnected indoor and outdoor spaces, creating the look of a lush vertical backdrop. It also links the Southside Park greenspace seamlessly to Brickell’s urban region.
The team working on the 1 Southside Park tower is made up of ShoP Architects; Rockwell Group, as the hotel’s interior design; James Corner Field Operations, standing in as the project’s landscaper; and Krista Ninivaggi of Woods Baggot, who will handle designing the interior of the apartments.
JDS Development Group’s Founder and CEO, Michael Stern described the designs for 1 Southside Park as exemplary and he said the project would set the standard for the development of other dense urban centres. Stern mentioned that his company was looking forward to starting vertical construction in the near future.
I’ve been hearing about this for years…. When is it finally going up?!