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First Phase Of 400 Biscayne Development Will Be A 500-Unit Rental Tower

First Phase Of 400 Biscayne Development Will Be A 500-Unit Rental Tower

PMG is planning to build a two-phase project at 400 Biscayne, according to the SFBJ.

The first phase will include a 45-50 story rental tower with over 500 units. PMG also plans a second phase with condos once the market firms up.

The church selling the property will have 20,000 square feet of space in the new building deeded over as part of the deal.

Stantec is the architect preparing the design of the new tower.

PMG is paying $53.6 million for the property after beating out nine other bidders, according to The Real Deal. The deal is expected to close in October.

 

 

(photo: phillip pessar)

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Anonymous
Anonymous

does anybody else like this church? the more i look at it, it’s a nice little building, even though it doesn’t have the best pedestrian frontage as the corner is a little too far back behind the sidewalk. Anyone know who the architect was?

Anonymous
Anonymous

Of all the great buildings destroyed in Miami, you want to know about a POS excuse of a church? Actually, it wouldn’t surprise me if somebody tries to get it historically designated to stop development, as tried with The Miami Herald Headquarters and is with the Babylon Apartments.

Anonymous
Anonymous

you mad bro?

Anonymous
Anonymous

Yes, because I actually care about how Miami develops rather than the anything goes attitude most you people here have.

Anonymous
Anonymous

Office & Hotel will be great there…… no more condos

Anonymous
Anonymous

I am all for new office development, but the developers will always go first with rentals or condos as it will be more difficult to obtain financing for speculative office. Miami needs a healthy new class A office market to attract new businesses. For the city its advantageous to have half empty foreign owned condo towers with full real estate taxes as they don’t have to provide all the services for full time residents.

Anonymous
Anonymous

More condos and apts… most condofied downtown in the world 🙁

Miami1
Miami1

Build us a 1000′ office tower Little Trump…!!

Anonymous
Anonymous

Right! Who wants people living downtown.

Anonymous
Anonymous

No he’s right. It’s time to focus now on commercial

Anonymous
Anonymous

Have you ever heard the term Urban Core?????

Anonymous
Anonymous

Why has PMG began going cheap with architects? Stantec?

Anonymous
Anonymous

We can only hope it’ll be one of their better works, given the fact it’s going to be tall. 1111 Brickell Bay Drive looks pretty cool.