Miami

Overtown’s fortunes are on the rise regarding the hundreds of construction jobs and long-term jobs a twin-project next to Lyric Theater is expected to bring.

CGI Merchant Group LLC recently acquired 55 Miracle Mile, a mixed-used project for $26.75 million. The 65,000-square-foot property located in Coral Gables was previously owned by CF Miracle Mile, LLC. The transaction was partially backed by a loan.

Mill Creek will develop 262 Class A luxury apartment units in Miami. The complex, standing in with Mill’s Modera brand name and indicating its location on Bird Road – an important traffic corridor of the area – is to be called Modera Bird. Central location of the luxury homes in the Coral Gables/Merrick Park submarket will offer easy access to three major Class A office hubs, hospitals, universities, cultural centers, banking, dining, shopping, etc. Douglas Station Metrorail stop is also nearby as well as Miami-Dade County Transit System’s Metrobus and the Coral Gables free trolley system’s lines.

Developer Hardial Sibia’s plan to build a four-story, 93-guest room Holiday Inn Express in Boynton Beach has been approved Tuesday after six years of opposition of senior citizens who reside at the nearby Palm Beach Leisureville, within a few blocks from the site.

Multifamily developer The Morgan Group and a client of Invesco Real Estate formed a joint venture to buy and develop a 3.1-acre site located at the heart of the Dadeland Golden Triangle near the nexus of U.S. 1, Kendall Drive, the Palmetto Expressway and Metrorail.

Brickell CitiCentre, likely the single-largest project currently under development in Miami, is now one step closer to fruition as developer Swire Properties recently announced the shortlist of contractors for the project’s foundation and underground parking garage.