The RIVERSEDGE cond-o development, which is in the midst of a $30 million redevelopment project in Miami’s Miami Beach neighbourhood, will be the world’s largest condominium complex with 740 luxury condominium units and 2,100 parking spaces.
“It will be one of the most exciting condominium developments of the last 10 years,” said Michael C. Tuck, the Miami-based chief executive officer of Bally Associates, which developed the project.
The condominium projects are being developed by Bally’s own firm, Bally & Co, and are backed by the state-appointed development authority.
The condominium development is owned by the Miami Beach-based condominium developer Miami Beach Realty, which has a partnership with the state of Florida.
“Miami Beach Realtors is committed to building a condominium community that is both a destination for residents and a vibrant economic engine for the city of Miami,” said Miami-Dade County Supervisor of Government, Michael D. Cone, in a statement.
The RIVERSES EDGE development is expected to open in 2020, with the condominium towers expected to rise to nearly 6,000 feet.
It is expected that a total of 1,400 units of the complex will be built in the area, with a total area of more than 2,400,000 square feet.
According to a presentation from the Miami County Development Authority, the project will be a “world class mixed-use project” that will include “new retail, retail spaces, commercial and office space” in the Miami area, a large, public plaza in the South Beach area, “a new high-speed rail station” and a new “new pedestrian bridge” connecting the area to Miami Beach and Fort Lauderdale.
The project is located just north of the city’s Wynwood shopping area, near the intersection of Coral Drive and West Miami Beach Drive, and is scheduled to open later this year.
More to come.