Midtown Miami, commonly known for encompassing areas like Wynwood, Edgewater, and the Design District, is set to welcome its most imposing residential tower yet: Midtown 1. The construction of this building will alter the city's urban landscape from the moment it begins rising in 2025. According to Profile Miami, the tower will feature 48 floors and stand at 596 feet tall. This development promises to transform the city's skyline.
Simultaneously, other large-scale urban projects in Downtown Miami, also backed by million-dollar investments, will significantly impact the city's life and structure.
Where Will the Midtown 1 Tower Be Located?
The building is strategically located at 3501 NE 1st Ave. It will boast 400 residential units, offer 27,658 square feet of commercial space, and include 498 parking spaces. The parcel was acquired in June 2023 for $40.6 million and is designed by the renowned firm Arquitectonica. The interior vision is the work of the international design studio Yabu Pushelberg, known for its sophisticated and elegant creations.
The project is currently in the verification stages, which will be conducted by the Miami Urban Development Review Board. The evaluation is expected to conclude favorably on May 15.
Who Is Driving Urban Development in Midtown Miami?
Midtown 1 is a joint initiative by Terra and Lion Development Group, two of the region's leading real estate developers. Terra, led by David Martin, has a robust portfolio of real estate projects in South Florida, including landmarks like Five Park and Mr. C Residences Coconut Grove. Michael Simkins, president of Lion Development Group, is a prominent figure in the real estate sector and a key player in the urban transformation of the city.
This new development will elevate Miami's architectural stature and enrich the residential and commercial offerings of Midtown. It serves as an attractive option for new residents and visitors seeking luxury in the city.
Frequently Asked Questions About Midtown 1 Residential Tower
Here are some common questions and answers regarding the highly anticipated Midtown 1 residential tower in Miami.
What is the height of the Midtown 1 tower?
The Midtown 1 tower will be 596 feet tall and have 48 floors.
Where is the Midtown 1 tower located?
The tower is located at 3501 NE 1st Ave in Midtown Miami.
Who are the developers behind Midtown 1?
Midtown 1 is a joint initiative by Terra and Lion Development Group.