Situated in a prime location along Biscayne Bay is one of
the latest up and coming areas of Miami – Edgewater. Formerly a dilapidated neighborhood,
Edgewater was avoided as it was dilapidated and run down.
All that has changed.
It is in revitalization mode as developers target it with new Miami condominiums, retail and more. The
location is ideal because it is surrounded by other cool up and coming
neighborhoods like the Design District, Brickell, Wynwood and others. In fact, its location is said to be at “the
intersection of funky and trendy,” in a Miami
Herald article earlier this year.
If you are curious as to exactly where funky and trendy meet,
Edgewater is bound by NE 17th Street (north); Tuttle Causeway at 36th
Street (south); Biscayne Bay (east); and, the railroad or Biscayne Boulevard (west). Just a drive through Edgewater and you will
see it bursting with real estate projects from some of the most successful
developers in the country and, even the world.
There are a few major projects in Edgewater under way that
we think are worth mentioning. Not only do they add to the Miami skyline, they
bring a lot to the entire neighborhood.
Following are several major projects:
Icon Bay, 460 NE 28th Street
Icon Bay, a new condominium being developed by Icon Bay, is
under construction with completion targeted around spring 2015. With construction well underway, this
building is going to be beautiful with its zigzag design on the exterior and
contemporary interior. Icon Bay is going
to be a 40-story condominium eight units on each floor. Ranging in size from 900 to over 2,000 square
feet, each residence will have unbelievable panoramic views and luxurious
details. Additionally, the plans show a
water park and all the community amenities that come with Related Group
projects. The building is practically
sold out and is a sign that the Edgewater is a neighborhood to watch and a
project that definitely indicates the market is turned.
Paraiso Bay, 600 NE 31st Street
The Related Group definitely sees the potential in the
Edgewater neighborhood. You can see that
simply because they are on the move here with multiple projects. Another one is Paraiso Bay. While construction is expected to start soon,
recent reports have indicated that Paraiso Bay’s plans are becoming bigger with
two new towers being added. There will
be 790 residences in the original two towers with only seven units on each floor. The residences comprise one, two, three and
four-bedroom units ranging in size from about 1,000 square feet to about 2,500
square feet each with spectacular bay views.
Each floor will contain a maximum of seven units that look to be lined
across the building. Along with the
beautiful condominium, Jorge Perez permanently closed off 31 Street at the Bay in
return for adding a park with playground equipment, lots of green space and
more. To buy at Paraiso Bay, potential
buyers can expect to pay between the mid-$500s and over $1.1 million for units
that range in size from just over 1,000 square feet to well over 2,100 square
feet. Food for thought is that David
Guetta has secured a penthouse in Paraiso Bay…just sayin’.
Biscayne Beach, 711 NE 29th Street
A third project to be built along the Bay in Edgewater is Biscayne
Beach. Set to begin construction in
April (just got a thumbs up from Miami’s planning department), Biscayne Beach
is a 51-story bay front high-rise condominium with 399 units being developed by
Eastview Development and GTIS Partners. Remember
Thom Filicia from Queer Eye for the
Straight Guy? He will design the
interiors. As the first condominium with
a manmade beach club directly on Biscayne Bay, it will offer one, two, three
and four-bedroom options in addition to penthouses with private rooftop garden
terraces. Inside each residence, there
will be floor-to-ceiling windows, large balconies and beautiful Biscayne Bay,
Miami Beach and city views. List prices
range from the mid-$400s to well over $1 million for units with sizes between
almost 900 square feet and over 2,100 square feet (penthouse prices available
upon request).
A Growing Neighborhood in Miami
It is easy to see that Edgewater is exploding with all of
the condominium construction underway.
Carlos Rosso, President of Condo Development at the Related Group, was
quoted in a Miami Herald article to
say “Edgewater’s layout works well for high-rise condos” as it sits in a prime
area of Miami with Biscayne Boulevard running parallel to the Bay is the major
thoroughfare of Biscayne Boulevard with shops and restaurants.” He went on to
say “it’s an attractive area. It’s got
good bones.” In the real estate industry, that means it has good structure and
placement which is definitely true as it is so close to the Design District,
Midtown and the Wynwood Arts District. We are so excited to watch Edgewater
turn into one of Miami’s best neighborhoods.
It is simply a great place to live!