Plans are underway to bring a Class-A luxury rental residential tower to downtown Miami’s Park West district. Eden Multifamily, a South Florida developer, is partnering with a multifamily developer and investor, The Dermot Company, to develop a 44-story, 430-unit high-rise designed by the award-winning architect Kobi Karp. Construction is expected to begin in 2024 at 1018 N. Miami Ave. The location is adjacent to the Miami World Center district and provides convenient access to the Brightline Train Station, which runs from Miami to West Palm Beach and soon to Orlando.
“We are proud to partner with EDEN on this residence that will transform the downtown Miami skyline,” Dermot CEO Stephen Benjamin says. “As we continue to build our portfolio in South Florida, aligning ourselves with such a respected and like-minded developer in the local market was a natural next step for us, and co-founders Jay Jacobson and Jay Massirman have one of the most impeccable records in the business.”
The building will feature 8,000 square feet of retail space on the tower’s ground floor and more than 25,000 square feet of indoor and outdoor amenity space, including a luxurious pool, fitness center, health-and-wellness areas, club rooms, coworking spaces and much more. The project will be designed, constructed, and operated to the latest ESG investment principles and standards for commercial real estate for resiliency and environmental certification.
“We are thrilled to team up with a best-in-class national partner like Dermot and help address the intense demand for luxury rentals in Miami’s urban core,” EDEN Co-Founder Jay Jacobson says. “With this project, we aim to set the gold standard for multifamily high-rise quality and design in the downtown area.”
Greenberg Traurig represents the joint venture in the land-use process. Jordan Karp LLC brokered the pending acquisition of the project site.
The project was presented to the City of Miami’s Urban Development Review Board at its April 19 meeting.