JDS Development Group (JDS) announced that it has secured $86,000,000 in acquisition and construction financing from Maxim Capital Group for 1 Southside Park, the transformative full city-block development in Miami, Florida in the highly desired Brickell neighborhood. Imagined by JDS Development Group, working with a world-class design team of SHoP Architects, hotel interior design by Rockwell Group, landscaping by James Corner Field Operations, and residential interiors by Krista Ninivaggi of Woods Baggot, the 64-story, mixed-use project will deliver 1,175 residential rental units, 190,000 square feet of premier office space, a 200-key Treehouse Hotel, 10,000 square feet of retail space, and 1,400 parking spaces.
The financing was provided by Maxim Capital Group and was arranged by Walker & Dunlop’s Aaron Appel, Keith Kurland, Jonathan Schwartz, and Adam Schwartz, as well as Michael Diaz, Sean Reimer, Mo Beler, and Sean Bastian. The team replaced the existing land acquisition loan with a bridge construction loan at a lower rate and higher proceeds on behalf of JDS. The project is completing its foundation work with deep soil mixing operations and the two-level basement complete. The deal indicates conviction in the development team, the high-design product by SHoP Architects and the strength of the Brickell market.
“1 Southside Park’s thoughtful, dynamic design serves as an exemplar for how we can design and develop in dense urban centers,” said Michael Stern, Founder and CEO of JDS Development Group in a statement. “We look forward to going vertical in the near future for this multifaceted project.”
“We are excited to help Michael Stern and the JDS team continue the development of 1 South Side Park. It is an exciting project and one that will be transformational to the area,” stated Adam Glick, Founder and Managing Partner of Maxim Capital Group.
“We are pleased to have arranged another strong financing package for JDS, one of the best development firms in the nation,” stated Aaron Appel of Walker & Dunlop. “Maxim is a reliable, transparent, and trustworthy lender, and 1 Southside Park will be transformative to the Brickell neighborhood at a key time for the growth of the city.”
1 Southside Park will introduce a new kind of thoughtful and imaginative urban experience to Miami, a destination for residents seeking long and short-term rental options, for travelers seeking a local hangout, for workers seeking a fully amenitized offering, and for locals and residents alike seeking the best in health and wellness services. The project will include the first Treehouse hotel in the United States, with multiple food and beverage outlets, and vibrant public arenas. As part of the Brickell Rapid Transit Zone, the project will enhance access to public transportation, provide direct connection to the Underline’s Brickell Backyard, revive and reinvigorate Southside Park.
The SHoP designed tower is envisioned as a series of stacked and shifted volumes that purposefully breakdown its scale. Each level is carefully designed to create both form and function for the multi-use structure: residential, hotel, microunits, office, and wellness. At the center of the building’s ground floor is a pedestrian paseo that consciously connects pedestrians from SW 2 Avenue to Southside Park. The paseo is framed by the new ground floor lobbies and café space.
These tiers are most openly expressed at the health program levels, which will offer world-class programming on a membership basis. The proposed design achieves a seamless transition from the Southside Park greenspace to the urban environment of the Brickell area. The distinctive architecture of interconnected indoor and outdoor spaces and planted terraces and edges provide a lush vertical backdrop and visual connection to Southside Park. The project will employ many strategies across all components in pursuit of the Florida Green Building Coalition’s high-rise certification. Energy-efficient attributes include, but are not limited to, efficient fixtures, smart technology, local materials, water re-use, and extensive landscaping.
Southside Park is the heart and inspiration of the proposed design for 1 Southside Park. A neighborhood gathering place, the park’s proposed design adds an enclosed dog run with dedicated spaces for small and large dogs, seating areas, water features, opportunities for public art, playgrounds for different age groups, a new basketball court, and space for active programming such as movie nights and community sports events. The historic schoolhouse will be highlighted as a resource for the park and the neighborhood. This programming is “nestled within the canopy of majestic ficus trees and lush tropical gardens, inspired by its South Florida setting,” says Isabel Castilla, Principal-in-Charge of the project for James Corner Field Operations, a leading-edge urban design, landscape architecture and public realm practice. The proposed design preserves the beautiful, mature trees and expands the existing canopy with new trees, while providing enhanced and deliberate direct access to the Brickell Backyard, a corridor of green and active public spaces. The entirety of the block is conceived as a harmonious pedestrian and public realm with an integrated design and material palette. “One of the things Brickell is missing is an iconic park — NYC has Central Park, Chicago has Millennium Park — these are experiential spaces that help define cities,” says Stern. “These spaces offer moments of tranquility to complement the hustle and bustle of the surrounding cityscape. As it stands today, Southside Park is an oasis within the Brickell area. Through our public-private partnership with the City of Miami, we will be making significant improvements which will elevate it — along with the adjacent Underline — to the world-class status the Brickell area deserves.”