EDEN, Dermot Plan Downtown Miami Luxury Apartment
The joint venture to develop the 430-unit multifamily tower in the Park West district of Miami.
EDEN Multifamily is partnering with The Dermot Company to bring a Class-A, luxury rental residential tower to downtown Miami’s Park West district. EDEN and Dermot plan to develop a 44 story, 430 unit high-rise designed by the award-winning architect Kobi Karp.
This development represents the first partnership between Miami-based EDEN and New York-based Dermot. Construction is expected to begin in 2024.
The project site is located at 1018 N. Miami Ave. – immediately west of E11EVEN Hotel and Residences. Plans call for 8,000 square feet of retail space on the tower’s ground floor. The building will also feature more than 25,000 square feet of indoor and outdoor amenity space, including a luxurious pool, fitness center, health-and-wellness areas, club rooms, coworking spaces and much more. The project will be designed, constructed, and operated to the latest ESG investment principles and standards for commercial real estate for resiliency and environmental certification.
The location, amid the Miami Park West district, allows for access to the Brightline Train Station, which runs from Miami to West Palm Beach and soon to Orlando. Park West is adjacent to the Miami World Center district, which encompasses an area of approximately 24 acres of high-end residential and commercial development. While condominiums have constituted much of the housing inventory in the area to date, rental options have been limited.
Greenberg Traurig is representing the joint venture in the land-use process. Jordan Karp LLC brokered the pending acquisition of the project site.
The project will be presented to the City of Miami’s Urban Development Review Board during its April 19 meeting.