Tula Residences has topped off in North Bay Village, marking a major construction milestone for the 21-story waterfront condominium. The 54-home project is expected to be completed in the third quarter of 2027. If delivered on schedule, it will be the village’s first newly opened condominium in more than a decade.
Key takeaways
The topping-off brings Tula closer to completion and advances a project positioned as a new residential anchor for the island community.
- The 21-story building will contain 54 residences, including six penthouses.
- Completion is expected in Q3 2027; prices start below $2 million.
- Plans include approximately 18,000 square feet of amenities.
- S3 Capital provided a $67 million construction loan.
A milestone for North Bay Village
Miami-based Bayshore Grove Capital is leading development and construction, with Pacific & Orient Properties serving as project developer. The milestone follows the project’s $67 million construction loan from S3 Capital. The development team has also brought Compass Development Marketing Group on as a co-listing broker alongside Brown Harris Stevens.
Bayshore Grove Capital founder and CEO Vivian Dimond said the team views Tula as an anchor for the neighborhood and described the building’s design and intended lifestyle as taking shape as work progresses.
Residences designed around bay views
Designed by architecture firm M77R (“matter”), with interiors by Shannon Farrell Design, Tula is planned as a collection of two- to five-bedroom homes. Residences range from approximately 1,590 to 2,440 square feet, while the six penthouses on the upper three floors are expected to span about 3,700 to 4,140 square feet. Each home is a corner residence, with views of Biscayne Bay and the Miami skyline.
The project’s limited size and waterfront setting are central to its sales pitch, according to sales managing director Philip Freedman, who said buyers can now see the building’s progress firsthand.
Amenities and island setting
Tula’s approximately 18,000 square feet of planned amenities will include a sixth-floor pool deck with cabanas and lounges, a 2,400-square-foot fitness center, a great room, private dining room and Skyline Club Room. Additional features include a screening theater, 24-hour concierge service, secure package storage and a waterfront Vista Lounge with floor-to-ceiling windows.
Situated between Miami and Miami Beach, North Bay Village offers access to destinations including the Design District, Wynwood, Downtown Miami’s cultural institutions, Miami International Airport and Miami Beach. Tula’s progress comes as the island community sees investment across residential, hospitality and commercial projects.