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Friday, October 19, 2018

Update on Regatta Harbour

The TREO Group – a privately held real estate investment firm headquartered in Miami – announced recently that it has closed on a loan for $33 million provided by FirstBank of Florida for the construction of Regatta Harbour, formerly known as Grove Harbour, a mixed-use waterfront development situated on more than 9.5 acres in Coconut Grove’s historic Dinner Key. You know, the place we call the Mall on the Waterfront.

Restaurants, specialty stores, marina services, floating docks, on-site parking and event spaces will be part of the project. Construction on Regatta Harbour has already started, you can see the new garage going up nearby and the Chart House was flattened long ago. They are being hush hush about the retail clients who have signed up for space at the new project, but when they announce it, we'll announce it.

“Securing this significant loan from FirstBank Florida is yet another milestone for this momentous project that will breathe new life into the vibrant waterfront destination and create an around the clock upscale locale for community members and visitors to dine, shop and relax,” said Otto Boudet-Murias, principal of The TREO Group. “We are thrilled to be at the forefront of Coconut Grove’s transformation and look forward to shaping the future of the area with this lively epicenter while maintaining the rich culture and history of Dinner Key.”

Upon completion, the project will include over 100,000 square feet of retail, services and restaurant space. 

Historic airplane hangars, used in the early 1900’s as the first continental Naval air station and later as Pan Am Airways’ base of seaplane operations, will be preserved and renovated as an homage to the area’s culture and history, creating approximately 40,000 square feet of unique setting for a gourmet food hall, specialty market, fitness or entertainment concept.

The rooftop event space will have sweeping views of the city and bay. Aptly named Harbour Terrace, the area will unify and connect the second-floor portion of the restaurants, boasting 6,000 square feet of air-conditioned interiors and 7,500 square feet of outdoor space – each able to accommodate up to 300 people.

Regatta Harbour will include marina services with dry storage slips for more than 400 vessels, an upgraded and relocated fueling station, and 700 feet of transient floating docks. The newly constructed docks and finger piers will encourage more boaters to visit and seamlessly explore and enjoy nearby Regatta Park, the bay and green spaces.  

Additionally, in partnership with the City of Miami and Miami Parking Authority, Regatta Harbour will provide an on-site parking garage that will be easily accessed from Bayshore Drive with up to 253 spaces. Steps away, patrons will also have more than 300 surface parking spaces. Promoting seamless connectivity, the property will be served by the Coconut Grove trolley system, directly connecting visitors to the Metrorail, Brickell’s financial district, and downtown Miami. 

Regatta Harbour will be delivered in multiple phases starting with the new dry-storage marina being completed in November, the retail area in the summer of 2019 and the waterfront restaurants in 2020.


grovegala1

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6 Comments:

Anonymous Anonymous said...

I can only imagine the comments pouring in from the old Grove mentalities movement. I.E., those who would walk about aimlessly with beers in their hands walking past old old worn out shells of unused vessels, bottoms showing dead barnacles, and faded zinc bottom paint. I know cause I'm one of them. I use to manage the old Crook & Crook Marine store down there, as the only employee. I sure do miss that time. The smell at low tide. Hurricanes, fresh breeze from the Northeast, people with their daily catch, old rope, tons of seaweed smelling up the place, shrimpers, tropical fish capital of S. Florida & beyond, marijuana, bales and bales of marijuana, so much so the area was dubbed "The Square Grouper Capital". I'll be damned, most of em are dead now. Tourist will take over with billions of dollars in investments and Jamaica Paul with figure it out and turn a profit.None of it will stop the fresh air coming ashore from way out in the Atlantic. The SUN will continue to appear from the East. A few will still cast net up some mullet and that crock will still warm him/herself from that 42" round cement outflow pipe next to the Seminole boat ramp. I hope they allow those old shrimp boats to dock there, they will won't they? I mean what will the tourist have to take pictures of? Nothing, absolutely nothing. Jobie Steppe

October 19, 2018 7:43 AM  
Blogger Unknown said...

right on Jobie--as an old timer of the Grove growing up there and spending 50 years sporting around all the old haunts--we have our great memories of the "great old days". The newbies, the tourists will just glance out at the bay and say oh this nice---nice of the investment group to keep the old Pan Am hangar to use to make money--Had to laugh to read that Jamaica Paul will figure it out and make a profit--maybe he could be a manager!! Carol Raff

October 19, 2018 2:07 PM  
Anonymous Penny said...

Mmm. Pretty risky investment for the Bank, given future sea level rise. Personally, I think the City made a mistake looking for private investment on the Waterfront, and instead should have made the are open space and increase area to take on the sea. But 10 years ago, few thought about sea level rise.

October 19, 2018 4:54 PM  
Anonymous Anonymous said...

The lease on this parcel was a public giveaway. And it abuts S Bayshore drive too closely. Hope they landscape it well.

October 20, 2018 12:58 PM  
Anonymous Anonymous said...

Anon 12:58, is it safe to say that the general public knew this was a public giveaway? And if so could concerned citizens have united or pursued a course of action to have this land used differently?

October 20, 2018 2:12 PM  
Anonymous Anonymous said...

No. They obviated Sunshine law and switched dates on the public. Maybe an amazing lawyer could bring action on this egregious behaviour. I think it was in the Fall of 2013. Plus, the lowest bidder who constructed the FIU parking lot that recently collapsed is slated to build this project. The lease is for 50 years.

October 23, 2018 3:22 PM  

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