MIAMI-A locally based development firm is planning to build a $300-million, 52-story condominium tower called CIMA as part of the River Front, a gated community in Downtown.

The 507-unit CIMA, located at the intersection of Third Street and South Miami Avenue, will be developed by Neo Epoch I Ltd. Neo founder and CEO Lisette Calderon tells GlobeSt.com that sales on the units began in January with construction expected to begin in November. Completion is expected in the fourth quarter 2008. "We always felt that this was the marquis site in the community so we wanted to make sure the project gets what it deserves," Calderon says.

Units will range in size from 1,102 to 1,654 sf. Prices range from $460,000s to $850,000. The architect on the project is locally based Luis Revuelta, of Revuelta, Vega, Leon, P.A. Interior designed is locally based Conrad Bonet, of Bonet & Associates International. Amenities will include reflection pools with cabanas, lap pool, sky bar, bonfire cove, executive center and conference room and Wi-Fi broadband connection in lobby and Riverclub. Unit amenities will include floor-to-ceiling windows, impact resistant windows and doors, ceiling heights of up to 18 feet, granite counter tops and stainless steel appliances. "The amenities are one-of-a-kind, something we believe Miami has not yet seen," Calderon says.

The River Front development will result in six high-rise condominiums with nearly 2,000 residential units, over 60,000 sf of retail space and 200,000 sf of office space. It will also feature 900 lineal feet of Riverwalk, a public walkway along the river that will feature restaurants and docking space. CIMA will be Neo Epoch's second condominium project at River Front. Its first was Wind, a 41-story tower with 489 units. Wind, which is sold out, is expected to be completed in October 2007, Calderon says.