A New Era of Urban Living Dawns in Miami
Property Markets Group (PMG) has secured a significant $413 million in construction financing for its groundbreaking "One Twenty Residences" project in West Brickell. This substantial investment marks the commencement of a unique development poised to redefine the live-work-play paradigm in Miami, offering an innovative blend of residential, office, and retail spaces.
Key Takeaways
- Record Financing: PMG has secured $413 million in construction financing for One Twenty Residences.
- Unique Concept: The development features private office suites with dedicated elevators for residents.
- Architectural Prowess: Designed by the renowned Sieger Suarez Architects, known for shaping Miami’s skyline.
- Dual-Tower Development: Comprises a residential tower and a separate rental tower.
- Extensive Amenities: Over 60,000 square feet of amenities, including a sky bar, wellness center, and conference rooms.
- Prime Location: Situated near Miami Metrorail and Metromover stations, enhancing connectivity.
- Projected Delivery: Expected to begin deliveries in 2028.
Innovative Design and Features
The One Twenty Residences project, designed by the acclaimed Sieger Suarez Architects, features two mixed-use towers. A standout element of the residential tower is the inclusion of a deeded private office suite with every condo purchase. This innovative feature caters to the growing demand for remote work solutions, offering residents a dedicated workspace separate from their living quarters, accessible via private elevators. The 34-story residential tower will house 266 residences, with 90% already sold, and boasts over 60,000 square feet of amenity space. These amenities include a sky bar and pool, a comprehensive wellness center with a fitness facility, spa, and plunge pools, as well as communal conference rooms for professional meetings.
A Comprehensive Urban Hub
Beyond the residential offerings, the development includes a separate rental tower with 537 apartments managed by the Sentral platform. The ground level will feature over 10,000 square feet of retail space, complemented by parking for over 600 vehicles. Its strategic location, mere steps from the Miami Metrorail and the free Metromover, positions One Twenty Residences as a central hub for professionals seeking a balanced urban lifestyle. Ryan Shear, Managing Partner at PMG, emphasized the project’s goal to "redefine modern city living by blending luxury, wellness and smart design in the heart of Brickell," creating a new standard for cosmopolitan living focused on connectivity and balance.
Project Timeline and Outlook
Construction has officially broken ground on this ambitious project. The One Twenty Residences are anticipated to begin delivering units in 2028, promising a significant addition to Miami’s dynamic real estate landscape. The development is set to offer a sophisticated living experience, integrating work, leisure, and connectivity seamlessly.