In December 2013, New Valley Realty, Bizzi & Partners Development, and Terra Group partnered to acquire a former a 225-key hotel and two adjacent parking lot parcels. Ideally located on Collins Avenue and 87th Street, the beach front site will be developed into a high-end luxury condominium. Surrounded by beautiful greenery, located south of the property is the North Shore Open Space Park, which offers a dog run, playground, picnic tables and barbecue areas. North of the property, plans call for a private park that will be accessible to residents and will provide a secluded oasis.
The proposed project is comprised of approximately 220,000 square feet of retail space and residential condominiums. The partnership has selected famed architect Renzo Piano to design a luxury product that will attract buyers heading north from South Beach to Miami, Aventura, and Sunny Isles. The Italian architect is a recipient of the Pritzker Architecture Prize and in 2013 was elected into the National Academy of Design.
The development is intended to serve as the gateway to Miami Beach, increasing accessibility by allowing pedestrian access via the 87th Terrace and the currently unused 87th Street. Visually, reducing the footprint of the building on the East Parcels will increase visibility to the beach. The silhouette of the building, generated by the organization of structure and mechanical spaces on the rooftop along Collins Avenue, is reminiscent of the iconic architectural spires found throughout Miami Beach. This design approach will add significant value to the Park, to the surrounding neighborhood and to the city of Miami Beach.
Gross Buildable Area (SF): 220,000
Architect: Renzo Piano
Total Condominium Units: 70
Completion: 2017