Related Group has revealed a groundbreaking date for another tower in downtown Miami.
The District, also known as District 225, will break ground in the fourth quarter of 2021, according to material provided to brokers.
Top off of the tower is scheduled for the fourth quarter of 2022, with completion in the fourth quarter of 2023.
Sales are underway, with buyers depositing up to 40% during construction and the remainder at closing.
Buyer will place 10% at contract, and a second 10% 60 days after contract. Another 10% will be due at groundbreaking, and the fourth 10% deposit at top off.
The project will include 343 residential units.
Units appear to be in the $700 per square foot range, with condos to be delivered fully finished and furnished and permitted for short term rental on Airbnb.
No parking garage is being built.
The project was approved by Miami’s Planning Department in April 2021.