South Florida Business Journal: Three major projects under review in Miami’s Edgewater/Midtown
Sep 13, 2016, 2:32pm EDT Updated Sep 13, 2016, 10:53pm EDT
Three large development prospects in Miami's booming Edgewater and Midtown neighborhoods are set for review this month.
The area, along Biscayne Bay between downtown Miami and the Julia Tuttle Causeway, has been a hotbed for development, with new residential towers, hotels and retail. Developers have capitalized on its proximity to the urban core and its views of Miami Beach.
All three development proposals will go before the city’s Urban Design Review Board on Sept. 21.
Russian billionaire showcases waterfront condo tower
Russian billionaire Vladislav Doronin wants to build the 57-story Missoni Baia condominium along Biscayne Bay in Edgewater.
Doronin’s OKO Group launched sales for the project, named after Italy's Missoni fashion house, in March. Since then, the design has come together through Asymptote Architecture and Revuelta Architecture International.
The 146-unit project would total 771,241 square feet with 327 parking spaces. Its amenities would include a sun deck, an Olympic-sized lap pool, hot and cold plunge pools, children’s pool, infinity-edge pool along the bay, elevated tennis court, a gym, spa with steam and sauna rooms, and a concierge.
Doronin’s 700 Edgewater Development acquired an older apartment building at 700 N.E. 26th Terrace for $21.5 million in 2014. It subsequently bought 516 and 614 N.E. 26th Terrace and 601, 667, 677 and 701 N.E. 26th St. to assemble its site.
Representatives from OKO Group said prices start at $2 million and averages $900 per square foot. The developer said it's seen great interest from buyers in Mexico, Brazil, Italy, Canada, Russia and Turkey. It hopes to break ground on Missoni Baia in 2017.
In addition, two mixed-use projects in Wynwood by the Related Group and Thor Equities will go before the UDRB on Sept. 21. Those were previously covered here.
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