Miami’s New and Pre-Construction Condo Update: October 2017
Nov 25, 2017 November 25, 2017
Check out who got sent back to the drawing board and who started vertical construction this October. Here’s looking at all that went on during Halloween month in Miami’s condo pre-construction market.
Staying true to its brand image, Missoni Baia had quite an unconventional start to its groundbreaking. The ceremony kicked off with a man on a jet pack whisking away the saxophone player to perform mid-air. This is Missoni’s first-ever residential venture. The luxury condo tower will soar 57 stories, bringing 249 branded residences to Edgewater. Highlights include interiors by the Italian fashion house, 5 swimming pools, flow-through deck with cabanas, elevated tennis court and access to a members-only in Key Biscayne.
Prices start at $500,000, with a choice of one to five bedrooms
Photograph : Courtesy of Missoni Baia
The Aston Martin Residences broke ground at 25% sold this October. DJ Irie kicked off the event with a confetti blast and fireworks. This is the first residential project by the luxury car makers from Bond. Announced to soar 66 stories with 391 luxury condos, residents will also have access to signature textures and styling from Aston Martin, a rooftop helipad, super yacht marina, two-level ocean-view fitness center, full service spa, 55th floor infinity-edge pool, private club and more.
Prices range from $600,000s to $50 million, with a choice of one to four bedroom-units, penthouses and a duplex penthouse.
Photograph : Courtesy of Aston Martin Residences
Condos Designed by Carlos Zapata - Arts and Entertainment District
A new condo project designed by Carlos Zapata (of Ho Chi Minh’s Bitexco Financial Tower fame) is in the pipeline for Downtown. 457 condos will come housed in a 45 story tower, with a neighboring 11-story tower carrying 150 hotel rooms and 30,000 sq ft of office space. The project has already received its go-ahead from Miami’s Planning, Zoning, and Appeals Board.
Condos by José Isaac Peres – Mid-Beach
After being sent back to the drawing board by the design review board, Brazilian billionaire José Isaac Peres is back with changes to his condo development. The developer has re-submitted plans with provisions for public access to the beach, reduction in building width by 5 feet and a new façade. The new 17-story building is being designed by Arquitectonica and will feature 89 condo residences.
Luxury Condos by P&O Global Technologies - North Bay Village
The village commission approved North Bay Village’s first condo project this October. The 19-story, 54-condo building will rise on a waterfront parcel on Harbor Island. Developed by Malaysia-based P&O Global Technologies, the project will be self-financed, unlike most Miami pre-constructions that require presales for funding. The approval came after the commission prescribed a couple of measures to make the structure more palatable to its neighbors. Architect Juan Azulay plans to give each unit at least two bedrooms with two view exposures. Also, there will be no more than 4 three-bedroom units per floor.
Expected starting price $650 per sq. ft.
Boutique condos by 1414 West Avenue LLC – South Beach
The Miami Beach Design Review Board approved a 14-unit condo project proposed by 1414 West Avenue. The 5-story boutique development won approval on waivers to incorporate mechanical car lifts and increase the maximum lot coverage to include an enclosed garage. The modern building is envisioned with cantilevered balconies and a rooftop deck. Units will range from 672 sq. ft. one-bedroom/one-bathroom condos to 1,315 sq. ft. three-bedroom/two-and-a-half bathroom units.
Renzo Piano Building Workshop’s first residential project in U.S. has started its upward ascent with vertical construction now in full swing. It was the first obvious step for Terra Group after having secured an extra $63.8 million loan this September. More than 60% of the 66 units are already sold out. Amenities here include the lobby-level Enoteca bar serving botanically-inspired drinks, pool with cabanas and towel service, oceanside Fugo Bar and a relaxing spa, among others.
Prices range from $1.6 million to $15.2 million, with a choice of one to five bedrooms
Photograph : Courtesy of Eighty Seven Park
October brought great news for folks at Two Roads Development (the people behind Elysee). First, the developers were able to secure a $16.5 million construction loan. And second, they immediately put it to good use by starting the foundation work. Elysee is set to soar 57 stories over Biscayne Bay, delivering 100 half-floor luxury residences to the waterfront. Highlights include amenity spaces designed by Jean Louis-Denoit, a lap pool with bar, children’s lounge, and 30th floor full-scale Owners Sky Lounge including a game room, wine room, chef’s kitchen, lounge area and bar, dining room plus library.
Prices range between $1.5 million and $10 million, with residences measuring 2,300 to 4,000 sq ft
Photograph : Courtesy of Elysee Miami
Construction is in full swing at Paramount Miami Worldcenter and developers plan to keep it that way. Nitin Motwani and Art Falcone nabbed a loan of almost $33 million from the Bank of the Ozarks. The mixed-use development sits on a 27-acre lot in Downtown. Construction is underway on the tower, retail and apartment buildings. Amenities attached to the condo development include a yoga studio, racquetball court, basketball half-court, pool deck, dog park, soccer field, food market, jam room with recording studio and a ‘Sky Deck’ with its own set of pools, a lounge, observatory and Tai Chi deck.
Prices range from $3.5 million to $9.5 million, with a choice of four to five bedroom penthouses and duplexes.
Photograph : Courtesy of Paramount Miami Worldcenter
Have any other updates to report for October? Let us know in the comments below. Or, share which one of these pre-constructions has you excited?