Two Roads Development has begun demolition for EDITION Residences Edgewater Miami, a 55-story waterfront condominium planned for Miami’s Edgewater neighborhood. The 185-unit project was held up for years by litigation with owners who opposed selling their units. Following a reported $50 million settlement with the final holdout, the developer is targeting completion in 2029.
Key takeaways
The start of demolition clears a major obstacle for the long-delayed project, which is planned for a 3.5-acre site on Biscayne Bay. The luxury tower will include private residences, extensive amenities and more than 800 linear feet of waterfront frontage.
- Two Roads began demolition after resolving a dispute with the last holdout from the former Biscayne 21 community.
- The 185-unit tower is designed by Arquitectonica, with interiors by Studio Munge and landscape architecture by ESDA.
- The project is scheduled for completion in 2029.
Settlement clears the way for construction
Two Roads proposed the development more than four years before reaching an out-of-court settlement with the final Biscayne 21 holdout in September. The dispute with several former community owners had delayed progress at the site for years. The settlement was reportedly valued at $50 million.
The project also secured financing in 2022: a $105 million senior mortgage from Bank OZK and a $45 million mezzanine loan from Lionheart Strategic Management. The lenders cited the site’s waterfront setting and access to Miami Beach, downtown Miami, Brickell, Wynwood and the Design District as factors in the financing.
Homes and amenities planned for the tower
The residences will range from one-bedroom-plus-den layouts to four-bedroom homes, with floor areas of about 1,922 to 3,760 square feet. Plans call for semi-private elevators that open into private foyers, floor-to-ceiling glass, ceilings between 10 and 14 feet, and terraces oriented toward views of Biscayne Bay, the Atlantic Ocean, Miami Beach and downtown. Three tri-level penthouses are also planned.
The development is slated to offer 45,000 square feet of indoor and outdoor amenities. Plans include a pool deck, social lounge, library, screening room, private dining room, wellness center and full-service spa, as well as fitness and yoga spaces, a multi-sport simulator and two pickleball courts. The property will connect to the Miami Baywalk and Margaret Pace Park.
Edgewater adds to Two Roads’ Miami portfolio
Edgewater has grown into an upscale district of mid- and high-rise condominiums. Two Roads has previously developed The Elysee Miami, a 52-story, 100-unit tower completed in 2020, and Biscayne Bay, a 52-story, 391-unit community completed in 2017 with GTIS Partners.
The developer is also advancing projects elsewhere in Florida and Nevada. Its work includes Pendry Residences Tampa, a mixed-use hotel and residential project, and One Brickell Riverfront, a two-tower condominium development being undertaken with Newgard Group. Those projects add to a broader pipeline as construction moves forward at the Edgewater site.