Home Builder Developer - Interior Renovation and Design

2023 brought in a very distinctkitchen designstyle. Bright-colored furniture, likeyellow kitchen cabinets, became increasingly popular, along with the all-white kitchens that made a noticeable comeback. Statement kitchen islands, streamlined storage, and open-plan kitchens ruled the trends overall.

Image credit: Max Rahubovskiy

But as 2023 has ended, lets look at what 2024 has in store for us.Bored Panda got in touch with an interior designer, Augustina Poinait ofBLOND interiors,and asked her to share insight on what kitchen trends we can expect in 2024. If youre planning a kitchen remodeling or just like to stay on top of design trends, read on to discover the most significantkitchen trends of 2024!

Image credit: Max Rahubovskiy

Bright colors and all-white kitchens are taking the backseat in 2024, with warm woods and natural colorscoming to the forefront. In general,kitchen trends in 2024are taking a more minimalist approach, favoring modern designs with classic elements. According to Augustina, Scandinavian, mid-century, and contemporary will be the most trending styles this year.

Functionality becomes the leading factor when designing a kitchen. Decluttering of the cooking space will continue with even more optimized storage, hidden appliances, and beverage stations. Homeowners will be looking for flat-panel designs, stain-resistant materials, and countertops that seamlessly extend into the backsplash.adds Augustina.

Seating arrangementsare becoming more like a family dinner setting rather than a bar style, which should encourage more conversation during the meal. Overall, kitchens will feel more like living spaces. Think more art on shelves and rich details, turning a kitchen into a place where people can really take their time.

Image credit: ruma_home

Kitchen islandscontinue to be a prominent part of the cooking space, but now they take on more responsibilities. While they will continue having a lot of cabinet storage space, there will also be more legroom underneath for a comfortable eat-in.

Image credit: Pixabay

Whiletile backsplashesarent necessarily out of trend, slabs are beginning to grab the attention as one of the most popularkitchen backsplash trends in 2024. Not only do they give your kitchen a sense of effortless luxury, but they also require very little maintenance. Quartz is the most popular material for this. Match the backsplash with the countertop to create a seamless look.

Subway tile was a popular backsplash choice for many years. Though it may not be the latest trend, its still a classic that looks tasteful today. Its a budget-friendly option and can add a clean, modern look to your kitchen, says Augustina.

Glass mosaic tiles were another popular option for several yearsnot anymore. Save it for your pool, but keep it out of your kitchen.

RELATED:32 Stylish Kitchen Wallpaper Ideas to Transform Your Cooking Space

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The fluted design is a great way of creating a focal point for akitchen cabinetwithout being overly loud. Since its becoming even more popular in 2024, you can also use fluted design on other surfaces, such as kitchen islands or pantries. It makes an impact both on painted and natural wooden cabinets.

Image credit: katheats

In 2024, smart storage is in demand. While the tendency for decluttering and efficient organization started much earlier, this year it is going to progress. Priority is given to well-organized walk-in pantries and special cabinets to keep kitchen appliances off the counterstill accessible, though.

Augustina told us that recently open shelving has fallen out of favor with interior designers and homeowners, as it proved to be a rather impractical solution. However, she added, if you like the look of open shelving but want to avoid the practical problems, you can use it as an accent in your kitchen. For example, you could display cookbooks, decorative items, or plants.

RELATED:20 Pantry Door Ideas Thatll Make Your Guests A Tiny Bit Jealous

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The classic herringbone pattern is simple yet chic. It creates movement dynamics in the space and makes it more visually interesting.Kitchen trends in 2024lean towards herringbone patterns on backsplash tiles and flooring.

Image credit: archwaysandceilings

Range hoods are often excluded from kitchen interior design. In 2024, however, they are set to make a statement. Size does not mattera wooden or stainless steel hood will draw attention even in a smaller kitchen.

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Striking pendant lights over the dining area are still very much in trend. However, in a 2024 kitchen, decorative and ambient lighting are also given a place to shine. This will include ceiling or under-cabinet lighting, sconces in the breakfast nook, and similar options to create a cozy atmosphere.

Image credit: thekitchenstudioza

For a while, matte black fixtures were the number one choice in the modern kitchen. But it seems likekitchen hardware trends will take a different approach in 2024, opting for gold. Be it faucets,light fixtures, cabinet hardware, and other metallic parts, gold hardware is becoming the top choice among homeowners, with matte finishes preferred over polish.

Augustina explains this as the homeowners desire to move towards a more warm and inviting aesthetics. All-white kitchens with black fixtures create a stark contrast, but as warm beige, tan, brown, cream, and wood tones declare their reign in the kitchen, gold hardware and fixtures will complement them.

Image credit: fromgrittopearl

While calm, earthy tones are highly preferred,green shadesare also among the most popularkitchen cabinet color trends in 2024. The general incline towards sustainability and union with nature we have seen in recent years has a lot to do with this trend. If you want to become part of it, Augustina recommends layering warm whites, earthy greens, and wood tones throughout your kitchen to create a harmonious and relaxing atmosphere.

Other trendy colors include blue, creamy white, and natural wood. But if you want a true statement piece in your kitchen, go with something bolder, like navy blue or Behr Cracked Pepper from the Designer Collection.

Image credit: detailsinteriors

According to Augustina, the shift in kitchen trends reflects a desire for more homelike and inviting spaces. Homeowners are choosing materials that feel warm and inviting rather than cold and industrial.

Along with the theme of becoming one with nature, wood cabinetry is taking the center stage inkitchen trends of the 2024, while warm wood tones are leading the parade.

RELATED:Butcher Block Countertops For Timeless Durability And A Classic Charm

Image credit: janki.home

When asked about the most trending design feature in the 2024 kitchen, Augustina was positive that beverage stations will definitely lead the charts. People will want a dedicated spot to pour wine, make coffee, or blend up smoothies. Its even more popular than other layout features like enlarged pantries or eat-in kitchens, she adds.

Incorporate a coffee station (or another beverage) into your kitchen layout. Having a special place that includes a coffee maker and all necessary supplies will give your kitchen its own personality. The best part: It doesnt have to be big if the space doesnt allow for it.

RELATED:35 Home Bar Ideas For a Happy Hour at Any Hour

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Stylish and easy to maintain,quartz countertopshold a prominent place inkitchen design trends of 2024, with matte finish being the top choice. As for the color, the countertops will be lighter than the cabinets. Both traditional and waterfall-style edges will remain relevant.

Augustina believes that people lean towards quartz because of its low maintenance requirements, durability, and ease of cleaning. She also mentioned quartzite as the second most popular option. On the other hand, granite, which gained popularity once, was pushed to the third position as the most demanded material for countertops.

The bold and bright Barbiecore color palettes that were popular in 2023 are taking a step back as we move towards 2024, and instead, there is a growing preference for a simple, minimalist look. While stark white kitchens will continue to be in style, creamy and off-white tones, combined with natural greens and blues, will also remain popular.

Gray, which was another popular choice in the past years, has been replaced by its warmer hues or greige. Interior designers lean towards colors likeSherwin WilliamsRepose Gray and Behr PerfectTaupefor a minimalist yet sophisticated look.

Image credit: legendhomestn

Before you start remodeling, here are a couple more questions to consider if you want to create a beautiful and timeless look for your kitchen.

While some people may find it boring,white kitchens will always be around. One thing to keep in mind, howeverjust like any other colorwhite has more than one shade. Stark white may be leaving the limelight in 2024, but cream white and off-white will stay. Plus, its versatile, and youre less likely to get tired of it soon.

If white isnt your cup of tea,greige can be a great alternative. It provides a well-balanced solution between minimalism and making a statement while also pairing well with various other colors. However, if you prefer a classic modern look, you should go with the sage green and navy.

Ultra-modern cabinets that look like they belong on a spaceship have reached their potential. If anything, they will make your kitchen look outdated. Similarly, the buzz over excessive open shelving has come to an end as many realize it isnt the most practical solution for your kitchen.

If you enjoy having open shelves in your kitchen, Augustina suggests combining them with cabinets to enjoy the best of both worlds: plenty of storage and a place to display your personality.

On the other hand, ceiling-height cabinets are definitely a good upgrade. If youre considering new cabinetry, the investment is worthwhile. It will provide you with extra storage while also giving your kitchen a high-end look.

Augustina shares with us a foolproof way of selecting a timeless look for your kitchen. She suggests that before we commit to a style, we should look at things that have been top favorites for at least several decades. Since they have passed the test of time, they are more likely to remain a classic, giving your kitchen a timeless look that you can update every now and then.

Following the latest trends may be tempting, but unless youre prepared to renovate your kitchen every season, opt for elements that make it look timeless instead. Traditional Shaker-style cabinets, neutral colors, natural wood, well-organized storage, and an efficient layout will help you achieve this.

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Kitchen Trends 2024: Revamp Your Kitchen In Style - Bored Panda

Designing a kitchen is expensive and time-consuming. To make a re-design or renovation worth it, it's paramount to consider how you will use the space and what appliances work best for you. That's why making single-use appliances a permanent part of your kitchen can be so tricky. No one knows this better than Martha Stewart, who regrets installing a deep frier on her stove.

In our interview with the celebrated guru, she told us about the kitchen idea she wishes she could change. Martha told H&G exclusively: 'I have a stove with ten burners. I have a deep fryer, which I confess I have only used once in 20 years.' She continued, 'I'm not a big fryer. If I fry now, I fry in a pot because it's a lot of oil to fill the deep fryer. I should have put two more burners there.'

While intriguing, Martha's kitchen renovation regret is not uncommon. Kitchen renovation expert Barry Gant, the founder of 7 Day Kitchens, states: 'Fryers arent always a favorite in the home kitchen. First, they hog space. Fryers aren't small. They may even take up a good portion of your counter, which is not great, especially in small kitchens.'

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Barry Gant is the owner of 7 Day Kitchens, a Charlotte, NC-based company specializing in swift kitchen remodeling. Gant attributes their ability to remodel kitchens in just 7 days a stark contrast to the industrys standard 6 to 8 weeks to meticulous planning, unwavering customer commitment, and efficient execution.

'Many people find that fried food is not cooked that often. So, having this huge machine that sits in the kitchen for fries or fried chicken occasionally can be a waste of precious space,' Barry says. 'Also, keeping the fryer clean is no small task. Fryers can make your whole house smell like a fast food joint if youre not careful, so friers are best avoided.'

Instead of installing this kitchen upgrade that homeowners always regret, Barry recommends opting for versatility and considering how you most often use the kitchen. He says, 'Figure out what you like to do most in the kitchen. Is it baking bread? Making coffee? Prepping herbs? Create a dedicated space for it. This will make your time in the kitchen more enjoyable and productive.'

Our product testers have found that this is the best air fryer in the world. It makes perfect fries, the see-through door makes is easy to monitor your food, and has anti-odor tech to keep your kitchen smelling fresh.

This ultimate multi-cooker has a 2.2 liter mixing bowl with 28 functions, making it easy to cook healthy homemade meals. Handy features like the Guided Cooking tool make the Thermomix easy for busy families or beginner chefs. The drawbacks include an expensive price tag, large size, and high noise levels.

This 6.5-quart multi-cooker has 14 functions, including pressure cooking, air frying, and steaming. The cooker also includes a recipe book that caters to a wide variety of dietary requirements, and the machine has an incredibly quick preheating time. Similar features to the Thermonix machine minus stirring functions.

While choosing kitchen appliances is not a one-size-fits-all all process, installing a fryer can be difficult, even for kitchen geniuses like Martha Stewart. Avoid regrets and prioritize functions with multi-use tools.

We interviewed Martha as part of her Don't Do It Yourself Campaign with Pure Leaf Tea.

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Martha Stewart regrets buying this kitchen appliance | - Homes & Gardens

@thislittlelifewebuiltsuggests that a perfect way to create a cabinet makeover is to simply replace the doors, leaving the actual cabinet behind it intact. Her kitchen's stylishly recessed door cabinets were removed, leaving behind wood cabinets she painted in a soft white shade that forms a stunning backdrop to her new custom cabinetry doors, creating a stylish two-tone look. Since the cabinet doors are the most noticeable part of the cabinets, she can invest in carpenter-designed custom doors for the existing casings instead of spending the money on total replacement.

Unlike demolition and new cabinetry, replacing the doors is fairly DIY-friendly, requiring only a few tools like a power screwdriver, hole borer, and new hinges. Additional supply costs include paint or stain for the cabinets and new hardware. By replacing only the doors, you can save significant costs. New cabinet doors typically range from $50 to $500,with total cabinet replacement running anywhere from $2,200 to $25,000, averaging about $8,200 for most homeowners.

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TikTok Shows You How To Save Big Bucks When Renovating Your Kitchen Cabinets - House Digest

If you're in the midst of a kitchen remodel and are considering color options for your kitchen cabinets, you may be wondering if a white color scheme is still in style. American actress, Alicia Silverstone, is a fan of using white in the heart of the home, and experts agree.

White is the most popular kitchen cabinet color bar none. If your goal is to create a 'wow' kitchen, but you want to maintain a classic and timeless style in your home, then white kitchen cabinets are an extremely calm and liveable option.

With matte or gloss finishes on offer, white kitchen ideas can look wonderfully different, and theres a tremendous variety in its shades from the crispest of pure whites to those with subtle warm or cool undertones. Decorating with white is also the perfect partner for other kitchen color ideas and materials, whether used as major elements or accents.

Elegant and timeless in their simplicity, white kitchen color schemes are here to stay. White is one of the most versatile shades when it comes to kitchen design it instantly brightens while evoking a sense of calm, cleanliness, and flawlessness.

Using a white or natural palette is all about adding depth and contrast in different layers and textures, says Jane Landino, creative head of studio at Taylor Howes. To make a white palette feel designed and considered its important to mix and match patterns, albeit neutral ones, and occasional accent colors.

However, just because your kitchen cabinetry is white doesnt mean your whole kitchen needs to be minimal or plain: think about adding texture and pattern elsewhere timber kitchen shelving or stone kitchen countertops, for example.

(Image credit: Future)

As expected, a white color scheme will be very beneficial for smaller kitchen spaces, particularly combined with light countertops, says Tom Howley, design director at Tom Howley bespoke kitchens.

Similar to Alicia Silverstone's kitchen, beautiful craftsmanship and simple lines are the hallmarks of a traditional white kitchen.

White has become a popular choice for classical designs. It makes cabinetry look very crisp and sophisticated and the space feels instantly brighter yet also very calming, says Stephanie Dedes, design and marketing manager at Charles Yorkes Pirbright showroom.

Yamazaki Tower Large White Kitchen Steel Rack

Aspen Large White Canister with Scoop

Yamazaki Tosca White Magnetic Kitchen Organization Rack

Elegant and timeless in their simplicity, white kitchen cabinets are here to stay. White is one of the most versatile shades when it comes to kitchen design it instantly brightens while evoking a sense of calm, cleanliness, and flawlessness.

Using a white or natural palette is all about adding depth and contrast in different layers and textures, says Jane Landino, creative head of studio at Taylor Howes. To make a white palette feel designed and considered its important to mix and match patterns, albeit neutral ones and occasional accents of color. Just because your kitchen cabinetry is white doesnt mean your whole kitchen needs to be minimal or plain: think about adding texture and pattern elsewhere timber kitchen flooring or marble kitchen countertops, as an example.

Elegant and timeless in their simplicity, white kitchen cabinets are here to stay. White is one of the most versatile shades when it comes to kitchen design it instantly brightens while evoking a sense of calm, cleanliness, and flawlessness.

Using a white or natural palette is all about adding depth and contrast in different layers and textures, says Jane Landino, creative head of studio at Taylor Howes. To make a white palette feel designed and considered its important to mix and match patterns, albeit neutral ones and occasional accents of color. Just because your kitchen cabinetry is white doesnt mean your whole kitchen needs to be minimal or plain: think about adding texture and pattern elsewhere timber kitchen flooring or marble kitchen countertops, as an example.

Read this article:
Alicia Silverstone's kitchen is proof that this color scheme is far from dated or overdone, say experts - Homes & Gardens

Subway tile's roots are in its namesake method of transportation. At the turn of the century, it was the choice of urban planners for its durability, price, and ability to keep clean. This also makes it a great choice for kitchens for all the same reasons. Subway tile can be found in the range of only $2-$15 per square foot, making it a cost-friendly alternative to other varieties of porcelain tiles. In the kitchen, like the subway, it's durable and easy to clean with a glossy finish and resists cracking and wearing over time.

It is also one of the most adaptable tiles, at home in many kitchen aesthetics, including everything from Joanna Gaines' beloved modern farmhouse aesthetic to more modern sleek and minimalistic spaces. It also looks amazing in industrial-inspired and cottage-style kitchens. It can be both elevated and formal in a traditional kitchen or casual and laid-back in a coastal or boho design aesthetic. With its bright reflective light surface, it reflects ample light and can be a huge brightening force to a dark kitchen, particularly when combined with white cabinets.

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The Joanna Gaines-Approved Backsplash Material That'll Brighten Up Your Kitchen - House Digest

HALLOWELL If it wasnt for Bridget Barrow going door-to-door with a local electrician, businesses in Hallowell might still be without power.

Like other places in central Maine, Hallowells Water Street sustained substantial flood and wind damage from this weeks massive rainstorm, which pushed the Kennebec River to unprecedented levels. The local businesses on the citys main strip were unable to get electricity restored until each building was cleared by an electrician.

It was a fact Barrow, who manages several properties on Water Street through Tenant Solutions, did not know until Thursday night when Hallowell City Manager Gary Lamb posted the notice on the door of one of her properties.

Then, she got to work.

I went home and made 20 copies of the notice because I thought, No one down the hall probably knows this, and I got my clipboard, my flashlight and my headlamp and informed everyone I could, she said.

She called Nicholas Electrical Company, which volunteered staff time on Friday and went door to door with her. Barrow was worried that if the street went another day without power, the pipes would freeze.

Because of the flooding, each building on Water Street from the colorful chairs to Lucky Garden had to be individually checked to make sure the power could be safely turned back on. To prevent a fire or a transformer from blowing when the power was restored, Barrow and the electrician had to check the breaker panels and the electric meters to make sure they did not sustain water damage.

The process of going door-to-door took the entire day, but they were able to reach every building and business owner.

With every building clear and a few had to have their meters switched off because of the flood damage, like Maine Local Market Barrow and the electrician from Nicholas Electrical could tell Central Maine Power the news: they did it.

If she did not get to everyone, or clearing each building relied upon unorganized individual efforts, the strip along the water on Water Street still could be without power.

It was 5 a.m., (on Saturday) and I was praying that since every building was cleared and by 7 a.m. Central Maine Power confirmed we got our power back, Barrow said. I called my tenants and they can be home for Christmas and be warm and not have to worry about their pipes freezing.

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A local property manager organized power restoration in Hallowell after this week's flooding - Kennebec Journal and Morning Sentinel

Move over Larry Ellison, theres a new mogul cutting into your longtime Malibu turf. On exclusive Carbon Beach, where Ellison owns no fewer than 13 houses, two eye-catching contemporary homes recently sold. Back in August, a 5,600-square-foot 1990s build went for $26.7 million, and now a 4,000-square-foot stunner about 12 doors away just closed for $28.5 million.

Records reveal both lavish beach houses were bought by the same man: Gary Friedman, the billionaire chief executive of the high-end furnishings juggernaut formerly known as Restoration Hardware.

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Its not clear why Friedman wants or needs two spacious and vaguely similar-looking houses on the same stretch of sand, but its entirely possible that one will serve as his temporary crash pad while the other is undergoing renovations, or perhaps one is intended to be guesthouse for friends and family.

Whatever the case, Friedmans latest acquisition has a bit of a interesting ownership history. From 2018 until 2021, the house was owned by billionaire Robert F. Smith, who used the place as a high-end income property, frequently renting the place out to short-term tenants. In late 2021, Smith sold the house for $21.8 million to noted property developer Saffron Case and her husband Timothy. The Cases held onto the place for two years, giving it a thorough remodel, before flipping it to Friedman for the aforementioned $28.5 million.

Guarded by an electronic driveway gate, the redwood-sided structure includes an expansive great room adorned with custom rift cabinetry and plaster walls, plus a separate bar area. Fully remodeled, the kitchen includes stone countertops and white oak cabinetry. Three of the homes bedrooms are located on the main floor, while the lavish primary suite rungs the full length of the house and includes a private office, a spa-style bathroom and boutique-style closet.

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Out back, a 60-foot wooden deck fronts the beach. Ideal for entertaining, the backyard area also includes a built-in barbecue center, a fire-pit and an outdoor shower for hosing off the sand.

With just one brief interruption, Friedman has been CEO of RH, the company formerly known as Restoration Hardware since 2001, and has overseen multiple reinventions of the luxury home furnishings retailer. Today, the San Francisco native sports a net worth that tops $1.6 billion,per Forbes. In addition to his two new Carbon Beach retreats, he also maintains a Beverly Hills mansion, that recently popped up for sale with a $44 million asking price. Last year, the San Francisco native sold a half-builtLos Angelesestate for $24 million to an anonymous buyer.

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Restoration Hardwares CEO Pays $28 Million for His Second Malibu Beach House - Yahoo Singapore News

FIXER UPPERS From left, Lachlan Murdoch, David Zaslav and Bob Iger. (Photo illustration by Dawn Camner; see below for credits)

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From Disney to Amazon, who had the worst and best year?

Sorry folks. If you think 2023 was bad, wait until you see what 2024 has in store. The big media home renovation project is moving into yet another phase with Warner Brothers Discovery positioning itself as a potential acquirer of Paramount Global. If that happens or other combinations involving Comcasts NBCUniversal or even the Dolan familys AMC Networks expect legions of foot soldiers headed to the unemployment office, as the chase to keep up with the tech giants increasingly winning for time and money from the TV pie gets harder and harder.(Are you in the business of selling dayparts or demos? Your days are numbered.)

There are more walls to be knocked down, archaic practices to be tossed in the giant post-linear dumpster.Everybody even the big tech giants is redoing their 2024 budgets with an eye on caution after a more disappointing year than expected.

We all had six months to stare at our numbers. The part that scares me about it? Were the kind of business when you hack off too much, theres nothing left to create with.

- a top studio boss

Social media viewership is growing up from 33 minutes a day in 2019 to one hour and a minute this year a 17 percent jump while pay-TV households are expected to drop from 66 million to 54 million over the next five years, according to research from Activate CEO Michael J. Wolf.

Efficiency is the buzzword of next year and every smart media executive will be looking for ways to bring AI into the mix. AI is already radically altering how we search for and create content, inevitably reducing labor costs.

As one studio boss pointed out, you can only cut so far before you destroy the potential for creativity. We all had six months to stare at our numbers, this person says, explaining that the pandemic plus the Hollywood strikes turned everyones eyes on the vast sums being spent. The part that scares me about it? Were the kind of business when you hack off too much, theres nothing left to create with.

Today I will:

Tell you about the big macro business trends already underway for 2024.

Examine the strengths, weaknesses and assign a letter grade to the eight big studios and streamers for this year.

Lay out expectations for the next year for each major player.

Originally posted here:
Big Media's Home Renovation Isn't Over - by Claire Atkinson - The Ankler.

Engineering and design firm Olsson has moved into its new Fayetteville office. The companys first official day with a new address was Dec. 4.

The new 37,000-square-foot building, with Olsson exterior signage, is at 3537 N. Steele Blvd. next to First National Bank of NWA. C.R. Crawford Construction of Fayetteville started work on the three-story building in the summer of 2022. Legacy National Bank in Springdale financed the buildings construction.

Olsson provided all engineering and landscape design, and Core Architects in Rogers was the building designer. Some amenities include a rooftop patio, bicycle racks and electric vehicle charging stations.

Olsson vacated its existing Fayetteville office (302 E. Millsap Road) and occupies the new buildings entire third floor and most of the second. The company has 68 employees in Fayetteville and space to accommodate approximately 100 workers.

Our team in Arkansas has continued to grow, which requires more space and a modernized work environment that will continue to attract top talent in the area, said Brad Strittmatter, Olssons CEO. We also want a space that will allow us to meet the growing needs of our clients in the region.

Fayetteville office leader Brad Hammond said Olsson will host an open house at the new building on Jan. 25.

Our new office is a great example of the investment Olsson is making not just in Northwest Arkansas but in the entire state and region, Hammond said. Were very much vested in Arkansas, and we are excited to be part of the huge growth going on in the area. Our intent is to provide a top-notch environment that will make people enjoy coming to work every day, and I think this office accomplishes it.

Olsson maintains headquarters in Nebraska and has offices in 10 states. The company entered the Northwest Arkansas market in 2018 when it acquired McGoodwin Williams & Yates, the regions oldest engineering firm founded in 1946.

Olsson partnered on the new building with development firm Cushman & Wakefield/Sage Partners in Rogers. A limited liability company they control bought the 2.34-acre lot from Kevin Farmer in April 2022 for $1.75 million.

Matt Imhoff, a vice president at Sage Partners, said none of the buildings available space has been leased yet. That includes 3,466 square feet on the second floor and 12,315 square feet on the first floor.

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Olsson moves into new office building in Fayetteville - talkbusiness.net

A pair of development firms scored a $47.3 million construction loan for a five-story office building in Miami Beachs South of Fifth neighborhood.

Bizzi+Bilgili a partnership between Bizzi & Partners and Turkish investor Serdar Bilgili and Sumaida + Khurana are developing The Fifth Miami Beach. Former Google CEO Eric Schmidt is a partner in the project. The 60,200-square-foot building, which will include retail and restaurant space, will be at 944 Fifth Street and 411 Michigan Avenue.

The Miami Beach Historic Preservation Board approved the project last year, including the developers plan to renovate a historic two-story building on the site and move it closer to Michigan Avenue.

Construction of The Fifth started in May, and completion is expected in 2025, according to a news release. The building is nearly 20 percent pre-leased.

Cain International provided the financing, amid an uptick of construction loans this month as developers rush to close deals before year-end.

An entity led by Sumaida + Khurana and Bizzi & Partners principals bought the development site in 2021 for $8.9 million, records show. Schmidt, who served as Google CEO from 2001 to 2011, and his wife, Wendy Schmidt, have an 88 percent stake in the entity that owns the site, The Real Deal reported last year based on records filed with Miami Beach. Sumaida and Bizzi own the remaining 12 percent.

Bilgili got involved in The Fifth Miami Beach after he and his BLG Capital development firm partnered this year with Bizzi & Partners on various projects in the U.S. and Europe. Bilgili, whose BLGs projects in Turkey include Soho House Istanbul and Ritz-Carlton Residences Istanbul, entered U.S. real estate in 2018 when he partnered with developer Michael Shvo to scoop up properties nationwide. But their partnership devolved into litigation, and the two parted ways following a court settlement.

Bilgili and Bizzis other planned joint investments include the 88-story 125 Greenwich condo tower in Lower Manhattan, a long-stalled and recently restarted development.

New York-based Bizzi & Partners is led by Davide Bizzi and Alessandro Pallaoro. The firm has projects in the U.S. and Europe, mostly in Italy. In Miami Beach, the firm co-developed the Eighty Seven Park condo tower with Terra.

Sumaida + Khurana, based in New York, has a portfolio of $1.2 billion of projects completed and under development, in New York and Miami, according to the release. This includes the 611 West 56th Street and 152 Elizabeth Street condominiums in Manhattan. The firm is led by Saif Sumaida and Amit Khurana.

The Fifth South Beach is among numerous South Florida office projects under construction, despite a leasing slowdown and increased sublease availability due to remote work and more expensive financing costs that have prompted some tenants to reevaluate their needs. An analysis by The Real Deal of six Miami-Dade County projects showed half of them hadnt scored any pre-leases as of August.

In Miami Beach, some city leaders have pushed for more office development as a way to shake the citys party-place image and attract companies that moved to South Florida from 2020 to last year.

Shvo is among the developers seizing on Miami Beach. Roughly a dozen blocks north of The Fifth Miami Beach, he plans The Alton, a six-story office-residential project on the northwest corner of Alton and Lincoln roads. Shvo also wants to build a six-story office building at 1665-1667 Washington Avenue and redevelop the 13-story office building at 407 Lincoln Road.

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Bizzi+Bilgili, Eric Schmidt, Partner Nab Office Project Loan - The Real Deal