Miami’s New and Pre-Construction Condo Update: July 2018

Miami’s New and Pre-Construction Condo Update: July 2018

Aug 08, 2018 August 08, 2018

The most awaited Paraiso District is closer to opening, with three of its four condo towers going ahead with closings. One Brickell City Center is in for a design revamp. And, South Beach could end up with a brand-new luxury tower. Read on for details on these and more below:

Closings Underway

Paraiso Bayviews - Edgewater

Second in the four-tower condo complex, closings are currently underway at Paraiso Bayviews. After almost all the units in Paraiso Bay have closed, this second tower initiated the process and closed over a 100 of its 396 units. Luxury amenities at this four-condo complex include a Michael Schwartz-helmed eatery, bar with outdoor patio and marina, a beach club, three pools, two-story gym and spa with juice bar, among others.

Prices for remaining units start at $599,000, with a choice of one- to three-bedroom units

Paraiso Bayviews
Photograph : Courtesy of Paraiso Bayviews


Completed

One ParaisoEdgewater

The third in the Paraiso condo tower complex just received its Temporary Certificate of Occupancy this July. Closings are scheduled to begin as early as August 6. Featuring 276 luxury condos, residents get access to a Michael Schwartz eatery, three pools, a beach club, outdoor patio and marina, two-story gym and spa with juice bar, among other amenities.

Prices range between $600 per sq. ft. and $700 per sq. ft., with a choice of one- to three-bedroom units and penthouses.

One Paraiso
Photograph : Courtesy of One Paraiso

Proposed

42-story Condo Tower – South Beach

Developer Crescent Heights has proposed to build a 42-story condo tower at the entrance to South Beach on Alton Road. After talks with city administration, the condo tower will now be slimmer with a 13,900 sq. ft. floor plat opposed to its initial proposal of 17,000 sq. ft. The 5th Street tower will also feature only 42 stories with 400 units opposed to 60 with 510 residences.

One of the major highlights of the new plan is a 2.5 acres park that will be donated to the city for public use. The tower will also feature a single-story commercial plaza towards the east, inclusive of cafés and other establishments fit for community activities.

Other Updates

One Brickell City Center - Brickell

It could be a while before One Brickell hits the ground as Swire Properties is still busy revamping design plans for the 80-story condo tower. If built according to plans, the tower would become the tallest in Miami at 1,049 feet.

Developers have also submitted new plans to build on two additional city blocks, increasing the total area from 11.4 acres to 13.9 acres. The tower to be built on the Tobacco Road site is proposed to feature 54 stories with a 10-story podium, 588 condo units, 89,130 sq. ft. of retail/commercial space, and 839 parking spaces. The tower to be built on the Associated Photo site is proposed to feature 62 stories with a 12-story podium, 384 condo units, 3,200 sq. ft. of retail/commercial space, and 363 parking spaces. Both plans are subject to approval.

One Brickell City Centre
Photograph : Courtesy of One Brickell City Center

The FairchildCoconut Grove

After a star-studded opening in April, ROVR Development is moving full steam ahead with a $27 million construction loan from the Oceana Bank. The only new waterfront condo project in Coconut Grove, this Max Strang-designed tropical oasis features 26 residences. Looking to go vertical in August, developers are aiming for a September 2019 completion. Amenity highlights include a rooftop pool with cabanas, wellness spa with Turkish bath (Hammam), bayside lounge, outdoor cinema, private dog park, floating dock with paddleboards, private boat slips, serenity gardens and rainforest path.

Prices start at $1.6 million, with a choice of two- to four-bedroom plus den residences

The Fairchild
Photograph : Courtesy of The Fairchild

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