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Rem Koolhaas
Construction in Coconut Grove
After announcing Park Grove in the Summer of 2014, and starting construction earlier this year, work on the foundation is still taking place. Most of the parking has been removed and the Coconut Grove Bank will remain in operation while the work is done in phases.
Park Grove is being developed by Terra Group and Related Group that will consist of three residential towers and 300 units. Rem Koolhaas is the architect.
Faena District in Miami Beach
In Miami Beach, The Faena District is progressing quickly. Units at Faena House have begun closing including a the penthouse unit, which was sold for a record $60 million to a billionaire Hedge Fund CEO.
Faena Forum is also moving along quickly since we last looked in July and construction has started on Faena Bazaar and Faena Park.
Faena has released images that preview the hotel rooms. The images can be seen at Facebook on Gridics: Real Estate News, Data & Analytics.
Fauna District on Miami Beach
Over on Miami Beach, the Faena District is making progress. The Faena Versailles is completed gutted and the Versailles sign has been removed from the building.
The biggest progress has been made on Faena Forum, which will be an arts and culture center. Faena Forum is expected to open this December for Art Basel.
Previous photos can be seen here.
Park Grove in Coconut Grove
Next to the Ritz-Carlton, construction is starting on the first phase of Park Grove located in Coconut Grove.
The project is being developed by Terra Group and The Related Group. Terra Group is also developing the under construction Grove at Grand Bay across the street.
Curbed Miami has floorplans of two of the three towers here.
Construction has been going on for awhile now at Faena District on Miami Beach, which will include Faena House, Faena Residences, Faena Hotel and Faena Forum. Curbed Miami has the renderings of Faena Versailles here. The Faena Versailles, which used to be the Versailles Hotel will be restored. Faena Residences will include the restoration of what used to be the Saxony Hotel.
Read MoreCoconut Grove Bank Will Be Demolished For Park Grove
Slow to the residential boom of Miami is Coconut Grove, but that is all changing with the addition of Park Grove.
Developers Terra Group and Related Group are joining together to create three towers that will consist of 300 units. The towers were designed by architect Rem Koolhaas.
Currently in it's place is the Coconut Grove Bank, which has been there for many years. The bank will have a smaller space in one of the towers, but will stay in where it is until the first phase of the project is completed.
The site is located near Grove at Grand Bay, which was once the site of the iconic Grand Bay Hotel. Across from Park Grove will be the new Regatta Park, which will give residents views of Biscayne Bay.
Groundbreaking is expected early 2015.
