Hyperion, the developer that built the 35-story Blue and 58-story Marina Blue residential towers in Miami, is returning to the development market with a newly proposed tower in Edgewater.
The glassy condominium tower, called MBay, will rise 39 stories, or 444 feet, and is designed by Arquitectonica. The property is located on the bay, between NE 26th Street and NE 26th Terrace.
Hyperion is planning to build 129 residential units, the maximum permitted on the .85 acre property. The project will contain 205 parking spaces on levels 2-7, the minimum required under Miami 21.
Hyperion acquired the bayfront property in August 2012 for $9.9 million. It included a MUSP for a project called Aja On The Bay (later Electra On The Bay) which Hyperion is seeking to modify. An apartment building on the site will be demolished.