North Miami Beach approves Uptown Biscayne by CK Prive Group – South Florida Business Journal

CK Privé Group received City Council approval in North Miami Beach on Feb. 20 for Uptown Biscayne, which would total about 1 million square feet.

The 4.92-acre site at 16301 and 16355 Biscayne Blvd., plus 2355 N.E. 163rd St., is on the main intersection between Aventura/North Miami Beach and Sunny Isles Beach across the causeway. That means the site has high visibility and vehicle traffic.

Uptown Biscayne was approved for 245 apartments in a 16-story tower, more than 170,000 square feet of retail, about 35,000 square feet of offices, and over 1,000 parking spaces. The developer said the retail component would include restaurants, a full-service spa and fitness club, a national grocer, and an edible garden.

“With Uptown Biscayne, we’re looking to not only create a vibrant live-work-play destination, but also bridge the gap between the North Miami Beach and Aventura neighborhoods,” said Javier Rabinovich, principal of CK Privé Group. “Arquitectonica does an incredible job of tailoring its designs to enhance the surrounding areas and has been a key partner in elevating our vision. We look forward to beginning construction and transforming this iconic intersection.”

The developer said it plans to break ground on Uptown Biscayne sometime in 2018. It received a $20 million preconstruction loan from Florida Community Bank in April.

CK Privé Group assembled the property for a combined $48.8 million in 2015 and 2016. One of the buildings previously housed Dean’s Gold strip club.

Berger Singerman attorney Javier Vazquez and Bercow Radell Fernandez & Larkin attorney Jeffrey Bercow represented the developer in obtaining approval for Uptown Biscayne.

The design for Uptown Biscayne includes a “main street” for pedestrians with wide sidewalks and trees to shade diners, plus a 40,000-square-foot vertical garden along the exterior façade of the buildings. The apartment building would include a 50,000-square-foot amenity terrace with a pool, tennis court, and playground.

“North Miami Beach, Aventura and Sunny Isles have had tremendous growth over the past few years, but residents are still very limited in terms of local lifestyle and shopping destinations,” said Alberto Kamhazi, a principal of CK Privé Group. “Retail vacancies throughout these neighborhoods are among the lowest in the county, which makes us bullish about the potential of a retail-driven property such as Uptown Biscayne.”

Comras Co. is the leasing broker for the project.

Commercial Real Estate Developers

Ranked by New square feet developed 2016

Rank Company New square feet developed 2016 1 Swire Properties 1.96 million 2 Boca Developers 1.22 million 3 The Related Group 935,000 View This List

Source Article