(To read more on the multifamily market, click here.)

MIAMI-Locally based developers CMC Group, Lionstone Developmentand Ponte Gadea Group have begun construction on the EpicResidences & Hotel. The 54-story property is rising at 300Biscayne Blvd. Way.

The architect on the project is Luis Revuelta, of Revuelta VegaLeon. The project will contain both condominiums and hotel rooms.The hotel will occupy 15 of the floors and contain 400 rooms. Itwill be managed by San Francisco-based Kimpton Hotels &Restaurants. Project costs were not released but the value ofsimilar projects ranges from $160 to $200 million.

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