Top-off roundup: the Harbour, Canvas and Sabbia Beach (The Real Deal)

August 9, 2017

The Real Deal Article:

A heap of condo projects in South Florida have or will be topping off this month, the next step toward bringing more than 1,000 new units to South Florida. Among the projects are the Harbour in North Miami Beach, Canvas in Miami and Sabbia Beach in Pompano Beach.

Harbour, North Miami Beach 

The Harbour, a 425-unit twin condo tower project in North Miami Beach, topped off last week, according to a press release. Key International and 13th Floor Investments broke ground on the 32-story towers in February of last year.

The Harbour, at 16385 Biscayne Boulevard, sits on 5 acres, which the developers bought last year for $30.5 million. The waterfront development is 90 percent sold, and is scheduled to be delivered in late 2018, according to the release.

The $300 million project will feature an aromatherapy trail, an outdoor Vita course, a variety of watersports, marina and boat rental, and an indoor-outdoor spa. Residences include one-, two- and three-bedroom units, as well as penthouses and two-story villas, ranging from 1,032 to 2,442 square feet, with median prices starting from the $500,000’s, according to the release.

Canvas, Miami 

Canvas, a condominium tower planned for Miami’s Arts & Entertainment District, is topping-off later this month, according to a press release. The 513-unit, 37-story condo tower broke ground in February 2016. Developers NR Investments closed on a $70 million construction loan from Bank of the Ozarks.

The project is 75 percent sold and is expected to be completed in the first quarter of 2018, according to a spokesperson. Sales began in October 2014. The total listed sell-out for the project, which is registered in New York, is $221 million, according to documents filed in New York.

Prices range from $345,000 to $654,000. Units will range from 620 square feet to 1,110 square feet, and average $475 per square foot. Canvas also received Fannie Mae approval, which allows qualified domestic buyers to put down as little as 5 percent.

Amenities for the project, designed by CFE Architects, will include sunrise and sunset pools, a fitness center, glass-enclosed racquetball court, spa and sauna treatment rooms, a business center, and children’s playroom and lab.

Sabbia Beach, Pompano Beach 

Sabbia Beach, a 19-story, Arquitectonica-designed condo tower at 730 North Ocean Boulevard, will be celebrating topping off next Thursday, according to a press release.

The luxury tower, developed by Fernbrook Homes and Grupo Fernandez, is Pompano Beach’s first new beachfront condo project in nearly a decade. The developers closed $45 million in construction financing last year in June. The project is 85 percent sold and is slated to be completed less than one year from now, according to the press release.

Sabbia Beach’s 68 units range in price from the mid $900,000s to $5.9 million. Amenities at the building include direct beach access, an oceanfront heated pool, fitness center, spa, social room and 24-hour valet parking.

At its groundbreaking last October, a record 1,000 cubic yards of concrete was poured to form the tower’s foundation. Concrete was poured over two days and reportedly took 100 truckloads to complete.

Photo and credit the real deal

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