From materials to layouts to amenities, post-pandemic new residences could look different from today

BY DIMA WILLIAMS  |  ORIGINALLY PUBLISHED ON MAY 24, 2020  |  MANSION GLOBAL

For developer Scott Gillen, the coronavirus pandemic is redefining what he sentimentally describes as “home is home.”

A residence is no longer a place to simply “eat, shower and sleep” before venturing into a bustling world for school, work and social events, said Mr. Gillen, who owns development firm UnvarnishedCo based in Malibu, California. As the deadly virus outbreak has confined Americans inside, homes— be they houses or condos—are now returning to what they meant to be when Mr. Gillen, 60, was growing up, he said.

“When I was younger, we were home for dinner, we did homework, we did all the things in our home that you would think that a family would do together,” Mr. Gillen said. “What the virus is doing is just bringing the concept of a home back to being what a home should be.”

While the coronavirus still rages on, it’s hard to predict what post-pandemic abodes might look like. Yet, developers around the U.S. are already rethinking projects, anticipating residents’ needs and preferences that Covid-19 would spur. In doing so, they are re-evaluating current in-unit aesthetics and in-demand amenities.

A Move Toward Smaller Developments with Larger Units

Edgardo Defortuna, founder and CEO of Miami, Florida-headquartered Fortune International Group, expects a downsizing shift toward boutique buildings of 40 to 60 individual units with private elevators. No more hulking towers with hundreds of residences.

“The more critical changes will be with buyers who are going to most likely be more concerned about large developments that are shared with a great number of people,” said Mr. Defortuna, whose current projects include The Ritz-Carlton Residences Sunny Isles Beach.

Homes would probably grow in square footage, a result of a new crop of shoppers currently cooped up and seeking additional space to unfurl all aspects of their lives—work, children and socialization—in their residences.

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In the five luxury houses that make up Case, a Malibu community Mr. Gillen is preparing for a 2021 debut, he is “adding freezers in the garage and much more storage for dry goods, whether that be more first-aid kits or masks or medical supplies.”

While most developers concur that layouts are likely to expand, there seems to be disagreement whether the contemporary open-floor plan would emerge unchanged from the pandemic. Some see it as a means to promote air circulation and, thus, minimize viral contamination. Others say that flowing layouts eschew the privacy that families might desire in order to carry out disparate obligations such as school work, conference calls and meal preparation.

Regardless of the level of room separation a post-pandemic lifestyle might call for, air and water purification systems, generous kitchens and comfortable home offices are already arising as must-haves.

“I believe we will see people designing new homes now incorporating areas such as libraries or studies where they can go and get work done, or engage in video conferencing,” said Roderick Anderson, CEO and design director of Costa Rica-based boutique firm SARCO Architects. “Previously, owners just wanted time away from everything and to relax.”

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A Shift to Private Amenities

With that comes the requirement for high-speed internet at home, which also supports a deeper integration of technology into daily life. Because of the coronavirus, smart homes would probably get even smarter with voice-enabled and face-recognizing applications that control not only appliances but the availability of amenities and package-delivery schedules.

South Florida-based development firm Shoma Group is already integrating “next generation” technology in its projects through a partnership with ButterflyMX, a smart intercom company that caters to both residents and property managers.

“Everything is keyless, and you are able to control everything with your phone,” said Shoma Chief Marketing Officer Stephanie Shojaee. “You don’t have to touch everything as often as you used to.”

In a post-pandemic world, though, the nature of amenities would likely change as well. “Amenity spaces will be fundamentally altered, encouraging more elbow room,” said Dan Kodsi, developer of PARAMOUNT Miami Worldcenter.

Gyms, for example, would spread out and bundle together disparate types of equipment—as opposed to the current approach of clustering the same machines nearby—for semi-private workout sessions.

Some amenity areas, such as exclusive clubs, could take to balconies, where patrons would be able to physically distance with less fear of infection in the open air. Private parks, where residents can escape the confines of their homes, may also become a sought-after perk of new developments.

Some wellness amenities could retreat from the common spaces and into private abodes so that owners can avoid close contact with others but retain access to conveniences. In Kohanaiki, an exclusive club community on Hawaii’s Big Island, Chuck Cary, vice president of sales and marketing, is already assisting home buyers who wish to bring more amenities into their residences. One client is adding a cold plunge spa, Mr. Cary said.

“They’re putting that in their house now so that if [shared amenities] get shut down during these types of times, they want to make sure that they’ve got that in their house as well,” Mr. Cary said.

Whether they are in shared spaces or individual homes, the materials with which developers cloak their projects are also changing in light of a virus that has proven to linger on surfaces. “You are going to see closed-pore wood finishes,” said Mark Mantione, CEO North America of German luxury interior design company metrica. “You’re going to see a lot more metal finishes that have low microbe growth.”

Because home buyers would be able to add even more upgrades to their units in order to create a design that enhances health and comfort, Mr. Kingston anticipates prices to rise. “When dealing with sophisticated buyers, there is a layer of customizations to address specific demands,” he said. “We are inserting another layer on top of that [in response to the coronavirus]. It would not have an impact across the board but just to the clients who elect to upgrade”

Shared amenities fortified against the virus, though, are unlikely to further inflate price. “We are already dealing with the best-in-class amenities, features and facilities,” Mr. Kingston said. “Any change is really incremental at this level of luxury.”

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Nonetheless, as new developments often take several years to materialize, some of the coronavirus effects on homes could be slow to emerge. Others that sound appealing today may fade as the country regenerates its social fabric.

“We’re not designing for tomorrow; we are designing for three years from now,” Mr. Defortuna said. “We need to be very careful on what is appreciated today versus what will continue to be appreciated in the future.

Wall Street Journal Article by Candance Taylor

The growing trend of using Facetime and Zoom to make home-buying decisions may continue after the pandemic.

At the under-construction condo 57 Ocean in Miami Beach, the sales team recently mailed a pair of virtual reality goggles to a buyer to help seal the deal, said sales director Nirka Burns Padilla. The buyer, who lives in San Francisco, was unable to travel to Miami due to the pandemic, and had never visited the site or its sales office. “With those goggles, it feels like he’s walking into the building,” Ms. Padilla said. He’s now in contract to buy a $1.95-million unit as a second home.

Miami Herald Article by Rebecca San Juan

Backing for new projects has slowed as lenders take stock of the post-COVID economy. But the 57 Ocean project in Miami Beach is full ahead, thanks to a $58.5 million construction secured from Bank OZK, said developer Marcelo Kingston, managing partner of MultiplanREAM.

“Bank OZK is pleased to be financing the final phases of 57 Ocean’s construction and to be working with such a reputable developer,” said Greg Newman, managing director of loan originations at Bank OZK. “The strong financial capacity of MultiplanREAM, coupled with such a unique real estate asset, exemplify the high standards Bank OZK consistently seeks in its project financings,” he said via a statement.

Arkansas-based Bank OZK is a familiar player in South Florida. Typically it requires developers to put a sizeable equity that is expended before the bank funds its loan. The 18-story luxury condominium at 5757 Collins Ave. has about 40 units, or 55%, of its 71 units reserved.

The lending process started during the last week of March; JLL Capital Markets arranged the loan. A process that might typically take 90 days took only 30 days due to a lull in activity, Kingston said.

Construction began in April 2019; contractors now have completed 12 stories of construction, and top off is expected for August even the number of workers on the job has been reduced due to COVID-19 restrictions. The project is on schedule for September 2021 completion.

“It is a challenge to get financing during this time,” said Kingston. “But we’re lucky to be advanced in construction, have asset financing and a residential condo project. All of this meant less risk for the lender.”

The loan allows the development firm to complete construction on 57 Ocean and “be open to any new condo opportunity that may arise during this time,” Kingston said.

January 15, 2020

The rendition above shows the latest condo tower gracing a waterfront slice of Mid-Beach.
What’s the trendy real estate neighborhood drawing millionaires? Mid-Beach.
The 18-story luxury condominium tower 57 Ocean at 5757 Collins Ave. is close to selling half of its 71 units since sales started in October 2018. According to Nirka Burns Padilla, a broker with Fortune International Group and director of sales for 57 Ocean, 30 units have been sold thus far. The $100 million project is expected to be completed by September 2021.
The building is expected to reach 50% of inventory sold, or 35 units, by February, said Marcelo Kingston, the building’s developer and managing partner of Multiplan Real Estate Asset Management.
“This project is bringing back Mid-Beach,” Kingston said.
Units range from $1.5 million up to $35 million, for the penthouse. The average residence has between two to four bedrooms and range in size from 1,245 to 3,600 square feet.
The recently listed penthouse spans 7,100 square feet and the outdoor space — a wrap-around, 360-degree terrace with a sauna, two plunge pools, a lap pool, gourmet kitchen, fire pit and putting green — covers 7,000 square feet, Burns Padilla said. Two private
elevators leads to the home’s five bedrooms, den, six bathrooms and a powder room. Indoor amenities include a private gym, home office and art gallery.
“The ideal buyer,” Burns Padilla said, “is someone who wants everything Miami Beach has to offer but away from the tourists and the traffic.”
Multiplan Real Estate Asset Management hired Arquitectonica to design the building and interior architect Patricia Anastassiadis to design the amenities, including the spa, library and children’s area.

Miami Herald
The Miami Herald, published daily, is a general interest broadsheet newspaper written for the general public in the greater Miami area. The publication aims to provide readers with breaking news and features and other general information. It includes partnerships with several community publications and features a number of neighborhood sub-domains

Article Courtesy of The Next Miami

Construction is now underway on the 57 Ocean condo tower in Miami Beach, after a groundbreaking ceremony held April 4.

A $3 million sales gallery was also inaugurated at the event.

Prices start at $1.5 million, and range up to $38 million for a penthouse. Unit sizes range from 1,200 to over 3,600 square feet, in addition to two penthouses and two beach houses.

The 18-story tower is being designed by Bernardo Fort-Brescia of Arquitectonica, with interiors by Brazilian designer Patricia Anastassiadis of Anastassiadis Arquitetos.

57 Ocean is being developed by Multiplan Real Estate Asset Management, which was founded by Brazilian Billionaire José Isaac Peres. The company also built Il Villaggio on Ocean Drive.

Completion is scheduled for September 2021.