SHVO has unveiled its plans for the construction of One Soundscape Park, a 52,500-square-foot office development located at 1665-1667 Washington Ave. in Miami. SHVO is collaborating with Peter Marino for the complex’s design.
The finished project will overlook Miami’s Soundscape Park, as well as the city’s South Beach neighborhood. The development’s key architectural features will incorporate Art Deco-style motifs in line with area-specific designs, floor-to-ceiling material glazing, as well as a solar shading device that maximizes the interiors’ exposure to daylight. The building’s amenities include custom-made artistic fixtures and furniture, private terraces, valet parking and a site-specific tailored service program.
The announcement follows SHVO’s recent unveiling of The Alton, a nearby Miami mixed-use project, as well as its collaboration with Foster + Partners for the $250 million redevelopment of the Transamerica Pyramid Center in San Francisco.
Miami’s hot office market
Despite a slight cooling in its office transaction volume in the first half of the year, the greater Miami metro’s office market is experiencing significant growth during a time of mass corporate migration to the city. This uptick in leasing, investment and construction is primarily attributable to the area’s warm climate and lax regulatory environment.
As of August, the city had 2 million square feet of office space under construction and one of the lowest vacancy rates nationwide at 8.6 percent, CommercialEdge data shows. The market saw the sharpest drop in vacancies across the top 50 office markets in the country—490 basis points compared to the same period last year, according to the same source.
Another recent high-profile project in the area is Helm Equities’ Parterre 42, a 500,000-square-foot mixed-use office and retail development in the city’s Design District.