While Auberge Residences & Spa Miami was expected to break ground in 2017, the Related Group is "likely delaying construction" until at least end-year 2018, according to The Real Deal.
Auberge is slated to rise at 1440 Biscayne Boulevard, currently the site of a mid-rise office and retail building in Miami’s Arts & Entertainment District.
According to emails obtained by TRD, Blanca Commercial Real Estate — the brokerage handling leasing for Related’s development site — sent an offer to at least one tenant that would extend its lease until late August 2018, without a previously used development clause that would allow Related to terminate a lease ahead of demolition.
A copy of a lease at the building from 2015, obtained by TRD, had included a provision that Related could cancel the lease with a minimum of six month’s notice.
The Related Group declined to comment, as did Blanca.
They launched its $2 million sales gallery in April, two months after sales began in February.
Among the planned amenities are a golf simulation room, cigar lounge, wine room, children's play room, luxury restaurant, and Zen Pool Terrace.
Sales for the 290-unit development in the Arts and Entertainment District in Downtown Miami are somewhere between 15 percent and 20 percent, depending on the source, with prices starting in the mid $300,000s.
Check out the renderings here.