Michael Shvo Taps Norman Foster for Miami Beach Office Project
Excerpt from the Commercial Observer website: Hot-shot residential broker-turned-developer Michael Shvo tapped star architect Norman Foster for his Alton Road project in Miami Beach. Earlier this month, Shvo, in partnership with Deutsche Finance America, paid $39.3 million for a five-property assemblage between Lincoln Road and 17th Street, according to the developer. The properties, at 1290 Lincoln Road, 1656 Alton Road to 1680 Alton Road, as well as a parking lot at 1677 West Avenue, include 1.5 acres of land in total.
New documents filed with the City of Miami Beach show that architectural firm Foster + Partners will design the five-story project. Dubbed The Alton, the 250,000-square-foot development will house Class A offices on the top floors and retail on the ground floor, according to the documents.
“Our design is inspired by the climate and vegetation of Florida to create a protected courtyard and to merge the workplace with nature and the outdoors,” Foster said in a statement.
To connect the West Avenue lot and the Alton Road properties, the developer is asking the city to grant him control of a public street, a type of easement known as an alley vacation. The city commission will hear the proposal Wednesday.
Shvo has already nabbed a $28.3 million mortgage from Maxim Credit Group, according to property records.
Read the full article here: https://commercialobserver.com/2022/06/michael-shvo-norman-foster-miami-beach-office-foster-partners/