Perez predicted an “exodus” of residents escaping here from high tax places like New York will continue over the next two to four years. Any decline in domestic demand will be offset by new buyers from Latin America, he said.
Related’s newest tower will be developed at 1400 Biscayne, on the former Auberge condo site.
Related was granted approval in 2015 to build three towers on the property, with a total of 1,430 residential units:
Tower 1 – 59 stories, 310 units
Tower 2 – 59 stories, 498 units
Tower 3 – 49 stories, 568 units
11-story podium with retail, restaurant, amenities, and 1,629 parking spaces
In 2016, the developer launched sales for a 328-unit luxury condo tower at 1400 Biscayne called Auberge, but later shelved the plans.
The new tower at 1400 Biscayne will be developed in addition to the 75-story Baccarat Residences in Brickell and the 37-story The District in downtown Miami, Related said.