Sixth Street Miami Partners LLC, owned by GFO Investments celebrated the first groundbreaking in Miami since the pandemic and of 2021 with Natiivo Miami, the first development purposefully designed, built and licensed for homesharing.
Led by hospitality entrepreneurs Keith Menin and Marisa Galbut, the master-planned community in the heart of Downtown Miami is slated to top off in August 2022 and completion is projected for Q3 of 2023.
Cervera Real Estate is heading up sales for the project, with more 220 units already sold in 2020.
“Over the course of the past year, we’ve had to adjust and adapt our efforts to a changing market,” said Cervera Real Estate CEO Alice Cervera in a press release. “We are incredibly proud of our team’s success and look forward to the future with a hopeful outlook. As the demand for new construction in Miami continues to rise, we are thrilled to see this revolutionary product come to life.”
When complete, the vertically-integrated community will incorporate 448 condominium residences, 140 condominium hotel residences, a 100 unit hotel, a private social club with 70,000 plus square feet of amenities and a creative headquarters that includes 127 for-sale office condos. The development recently announced the addition of three coveted Miami brands: Dolce Mercato, offering authentic Italian cuisine; Bodega Taqueria, known for its authentic Mexican street food; and Gale Miami Hotel and Residences, the third Gale Hotel property in South Florida.
“With the migration to South Florida and the recent announcements of high-profile tech and finance companies relocating to and expressing interest in Miami, the continued growth of Downtown is imminent,” Menin added in the press release. “We are confident that Natiivo Miami will play an integral role in this growth and are excited to forge ahead in construction. We’re optimistic for 2021 and hope to set the tone for the Downtown Miami market with the first groundbreaking of the year.”