David Martin's Terra Group Partners with Russell Galbut on Alton Road Project

West Ave

Susan Askew
Susan Askew

David Martin's Terra Group Partners with Russell Galbut on Alton Road Project:

Tower, Park and Commercial area to be built at Miami Beach gateway

David Martin’s Terra Group is joining Russell Galbut’s Crescent Heights to develop the 500-700 blocks of Alton Road at one of Miami Beach’s most important gateways. The Park on Fifth includes a tower on the 500 block, a three-acre park to be donated to the City and retail/restaurant space in the 600 block. A surface parking lot for the Floridian across the street will occupy a portion of the 700 block. 
 
Galbut announced the partnership at a community meeting to discuss the upcoming implosion of the old South Shore Hospital on the 600 block. He also gave a few more details on the plans for the tower.
 
“In South Florida we have from time to time partnered with other people but we only partner with the best of the best,” he said. “[Martin’s] finishing a project on 87th and the ocean and it’s a pretty remarkable project that will bring to Miami Beach a new standard in building,” referencing Martin’s Eighty Seven Park project. 
 
“I think the Faena did that but his project, in my opinion, takes it even a step higher than that,” Galbut said. “I’m very, very pleased and proud to have his involvement and his organization’s involvement. I think they’re incredible people.” 
 
Regarding the construction timeline, he said, “We believe that we should be able to build this tower in 28 months or less. The contractor wants 30-32 months so we’re looking at ways to expedite it.” That might include the use of “double cranes, double concrete” strategies, he said. 
 
“We want to be finished faster than anyone else wants us to be finished,” Galbut told the community members in attendance. “If everything goes well, within a year and a half, everybody’s going to see this park and see everything going north of 6th Street pretty much intact.”
 
City Commissioners approved a 519-foot, 44-story tower. Galbut indicated there will be 40 floors of residential units. The first 20 floors, he said, contain 11 rental units per floor. The second twenty floors will contain condominiums, six to a floor and less. In some cases, he said, there will be three or four to a floor as well as units that are single-floor units.
 
The building will have almost 49,000 sq. ft. of amenities, he noted. 
 
Introducing Martin, Galbut said, “I have never, ever partnered with somebody who has the passion of David.”
 
Martin said, “I’ve been watching Russell and Crescent Heights for many years and I have admired their work.” He said he was drawn to Galbut’s “passion for this city and his ability… to take calculated risks.” 
 
Martin is one of the partners in the development of the Miami Beach Convention Center Hotel. During the process, which was going on simultaneously with the 500-700 Alton Road process at the City Commission level, he watched as Galbut’s project evolved.
 
“I’m honored to be part of this project with you, Russell, and I promise I’ll do everything in my power to all of you to… make it as special and unique as it will be,” he told the community members.
 
He also noted the density on the site is “trending down. The development agreement has a cap but we’re going to be going below that cap significantly.”
 
With regard to the public park, Martin said in addition to having Arquitectonica and its GEO group, “We’ve also brought in other design collaborators and artists to really do something special here.”
 
Through the partnership, he said, the project had the benefit of “both of our teams and trying to use the best of both firms to try to build something special for all of you and for this city. It’s really an iconic important location, gateway location, so we’re really excited.”
 
Andres Asion posted the video of the community meeting where this was discussed to YouTube.
       
 
 
 

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