NP International To Construct 1.3 MSF Mixed-Use Development Near Miami

Jul 26, 2018 No Comments by

NP International (NPI) has selected Balfour Beatty to construct the 1.3 million-square-foot Gables Station mixed-use development in Coral Gables.

Comprised of three towers, the development will feature retail space, residential units, a hotel and a 1,000-car parking garage.

The transit-oriented development is situated within a commercial corridor on U.S. Highway 1 and is adjacent to the Miami Metrorail, providing easy access to the Miami International Airport. The project will be directly connected to the Underline Park, a 10-mile park and urban trail.

The development’s two apartment buildings will include a combined 450 units. Facing the Underline Park on the ground level, one of the residential buildings will feature 19,000 square feet of retail space, while the second will include 18,000 square feet of retail space. Gables Station’s third building will be home to a limited-service hotel, which will house 68,000 square feet of retail space for lifestyle and wellness tenants.

Early this year, NPI received a $158.4 million construction loan for the project and negotiated a lease for Life Time Fitness at the development, according to the South Florida Business Journal.

The project, designed to achieve LEED Silver certification, is slated for completion in the fourth quarter of 2020. Architect Jorge Hernandez designed the project in partnership with Gensler.

NPI, which has an office in Coral Gables, has developed, built, managed and wholly owned more than 6 million square feet of real estate throughout the United States.

Headquartered in London with offices across the United States, Balfour Beatty provides general contracting, at-risk construction management and design-build services for public and private sector clients.

 

Source:  RE Business

 

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Industry News, Miami-Dade County Multifamily, Miami-Dade County Retail, Multifamily, NA, Retail
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