Rendering of 407 Lincoln Highway redevelopment. Picture courtesy of SHVO
SHVO has secured the unanimous approval of the Miami Seashore Historic Preservation Board for the revitalization of 407 Lincoln Highway in Miami Seashore, Fla., right into a Class A luxurious workplace property, the event and funding agency introduced on Wednesday, Dec 14.
SHVO’s plans to revamp the 13-story constructing embrace a renovation of its clock tower, recladding of the constructing envelope, the addition of double-height loggias, in addition to the addition of a rooftop with ocean views and wellness-focused facilities.
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The redevelopment is being led by Foster + Companions, in collaboration with Kobi Karp Architects.
In a ready assertion, Norman Foster, founder & govt chairman of Foster + Companions, highlighted the environmental good thing about considerably reducing the venture’s embodied carbon by retaining the constructing’s current construction.
Solely three months in the past, SHVO launched its plans for a 52,500-square-foot workplace, One Soundscape Park, which will probably be barely a block east of 407 Lincoln Highway. The venture’s architect is Peter Marino.
Luxurious rents
The Miami Seashore submarket had the second-highest improve in asking rents in metro Miami, and has the third-highest asking charges (behind Wynwood and Brickell), at a median of practically $70 per sq. foot, in keeping with a third-quarter report from JLL. Additional, Miami Seashore has the metro’s third-lowest general emptiness, at 12.7 p.c.
The JLL report famous that numbers like these are driving growth, together with 1177 Kane Concourse, a 101,000-square-foot constructing in North Miami Seashore, and Terminal Island Workplace Undertaking, a 161,000-square-foot workplace constructing.
