JDS Development Group Receives Construction Financing for 64-Story Southside Park Mixed-Use Tower in Miami
MIAMI — JDS Development Group has received $86 million in acquisition and construction financing for 1 Southside Park, a 64-story mixed-use project in Miami’s Brickell neighborhood. Plans call for 1,175 apartment units, 190,000 square feet of office space, a 200-room hotel, 10,000 square feet of retail space and 1,400 parking spaces.
The development will include the country’s first Treehouse Hotel, along with multiple food and beverage outlets and public spaces. As part of the Brickell Rapid Transit Zone, the project will enhance access to public transportation, provide direct connection to The Underline and reinvigorate Southside Park, according to JDS. The Underline is a 10-mile linear park, urban trail and public destination being built on land below Miami’s Metrorail that is opening in phases through 2025.
Southside Park’s proposed design enhancements include an enclosed dog run, seating areas, water features, opportunities for public art, playgrounds, a new basketball court and space for active programming such as movie nights and community sports events.
A Walker & Dunlop team led by Aaron Appel, Keith Kurland, Jonathan Schwartz and Adam Schwartz arranged the financing through Maxim Capital Group. An existing land acquisition loan was replaced with a bridge construction loan at a lower interest rate and higher proceeds.
Construction is wrapping up on the project’s foundation work. A timeline for completion was not provided.
SHoP Architects is the project architect, Rockwell Group is completing the hotel interior design, James Corner Field Operations is the landscaper and Krista Ninivaggi of Woods Baggot is handling the residential interiors.
The design of the tower features a series of stacked structures. Each level is designed to create both form and function for the variety of uses — residential, hotel, micro-units, office and wellness. The building will offer a health program on a membership basis.
Michael Stern, founder and CEO of JDS, says that Brickell is missing an iconic park. In his eyes, public parks like those found in New York City or Chicago help define cities. “Through our public-private partnership with the City of Miami, we will be making significant improvements that will elevate [the park] along with the adjacent Underline to the world-class status the Brickell area deserves.”
This development marks the fourth large-scale project between JDS and SHoP Architects. Founded in 2002 and headquartered in New York City and Miami, JDS focuses on acquisition, development and construction.
— Kristin Hiller