Revealed: 501 First Tower Planned In Downtown Miami With 448 Units

Plans for yet another tower in downtown Miami have been quietly revealed by developer Aria Group, with marketing now underway.

The new tower is called 501 First.

It will include 448 residential units on levels 4 to 36 of the tower.

Prices start from the $300s, with studio, 1 and 2 bedroom units.

There will not be a parking garage (a giant Miami Dade College garage already exists next door).

Short term rentals will be allowed, and units will be delivered finished and furnished.

The top two floors of the tower will have a double-height indoor and outdoor amenity space, including a space called “Greenhouse,” a relaxing urban oasis featuring soothing greenery and plants year-round.

A rooftop pool is also planned. The lower floors of the building will feature a co-working space.

Aria is wrapping up construction of their Yotelpad tower nearby, which featured a similar concept allowing short term rentals and sold out quickly.

Other nearby projects featuring finished short-term units include Elleven, Natiivo and Legacy, all of which experienced rapid sales success.

The 501 First site was the sales center for Yotelpad, which was based out of a building dating back to 1924 that is set to be demolished.

Completion of the new tower is scheduled for the first quarter of 2023, marketing material states.

Revuelta is the architect, with interiors design by Shim Projects.

 

 

The 1924 building set to be demolished:

(photo: Phillip Pessar)

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Anonymous
1 month ago

Such a beautiful building to be demolished….

Anonymous
1 month ago

They could keep it as a base for the new building.

Azarius
1 month ago

Old school base with modern topper

Anonymous
1 month ago

What a shame

Anonymous
1 month ago

Not even going to come close to being taller than Melo or Society.

Melo is going to be offering larger units a block away with better views.

Azarius
1 month ago

This is basically a investment hotel

Anonymous
1 month ago

With no Hotel manager…everyone rents on its own at whatever price, per hour, per day or per week.

Everybody changes his own sheets

Anonymous
1 month ago

Melo is ugly and across the street from a prison, and Society has bay views. Both are quite different in a way, yes.

Anonymous
1 month ago

“Melo is ugly?”

Did the whole family hit on you?

Anonymous
1 month ago

Beautiful tower, but still a shame that the original building couldn’t be incorporated into the plans for preservation. Miami needs more historical attractions that show its legacy like NYC/Boston/DC.

Anonymous
1 month ago

Yes that would’ve been nice

Anonymous
1 month ago

Excellent. No parking garage makes this building much more attractive.

Anonymous
1 month ago

The article said “There will not be a parking garage (a giant Miami Dade College garage already exists next door).” So it’s not about a “parking garage,” it says more about the architect(s).

Anonymous
1 month ago

what

Anonymous
1 month ago

Dude, do you or can you understand anything I wrote or do I have to explain it you?

Anonymous
1 month ago

To whom?

Anonymous
1 month ago

Love the no parking. In the future hopefully the area will become more dense and walkable and it’ll be much easier to get rid of that parking garage for another project.

Anonymous
1 month ago

Great location

Anonymous
1 month ago

Damn dude can’t even let a building turn 100 years old, Miami doesn’t care about history or heritage. Demolish anything for glass and tourists

Anonymous
1 month ago

Like the lyrics in one of the O’Jays songs say, money money moneyyyy.. moneyyyy!…

Anonymous
1 month ago

If it turns 100 years old a historic review is required i think before they can demolish. Thats why they were in such a hurry to demolish Tobacco Road even though they had no real plans to replace it. If they waited it would have turned 100 and then they wouldnt be able to demolish if they wanted to.

William
1 month ago

Awesome

Anonymous
1 month ago

Just walked by “Museum Park” and saw a sign stating “Maurice Ferre park walkway project” at a cost of $751,198. Does anyone have details on what this project is?

Anonymous
1 month ago

Connecting Museum park to Parcel B with a baywalk

Anonymous
1 month ago

Thanks!

Anonymous
1 month ago

Are there any renderings of this project?

Anonymous
1 month ago
Anonymous
1 month ago

Thank you so much.

Anonymous
30 days ago

Yes, and a sculpture garden.

Anonymous
1 month ago

This looks great but what’s up with Christ Fellowship church? Will their renovations ever be done?

Anonymous
1 month ago

Awesome project!

Anonymous
1 month ago

I agree keep the original building as a facade for a new tower on top

Anonymous
1 month ago

I’m all for building new attractive high-density buildings like this but why are we doing so at the expense of beautiful historic architecture when it’s already so very ridiculously limited here in South Florida? There are so many vacant lots and (ugly) non-historic buildings. This is totally unnecessary. This building is from 1924. Why isn’t the Historic Preservation Board able to protect these structures??

Anonymous
1 month ago

For once, a solid infill building with no parking garage, ugly murals, or random windows or balconies… and it may destroy a legit historic building…

HRPB, what art thou? Fighting about the type of doorknobs on a 1950s roach motel in the Upper East Side, I assume?

Anonymous
1 month ago

This building was the Cuban Refugee Center in early 1962.
The center was moved to freedom tower in mid 1962.

Anonymous
1 month ago

this is sad, the current building or its facade should be preserved somehow

Anonymous
1 month ago

Native, Legacy, Eleven, Yotel…all the same mouse traps.
Small units sold with the promise of Airbnb and other rental platforms.
Around 5,000 short term rentals units in Downtown alone.

Crazy that developers & brokers keep pushing these programs.

Anonymous
1 month ago

As someone who works for one of the developers pushing these programs, I agree 100%.

Anonymous
1 month ago

Glad to see a project in miami without garage finally. Sad for demolition of 1924 building.

Anonymous
1 month ago

Cray what people are paying for these small units…over $750 a sft. You can buy waterfront units with parking for that price in Blue, One Miami, The Plaza and other existing bldgs

Downtown will be overflowed with cheap “rent-by-the-day” bldgs.

A lot of investors will be left out to hang.

Marc
1 month ago

New bldgs in Miami depreciate like cars the first few years, and only the best of the best bounce back.

This kind of infill at this price only offers one thing: brand new units. Once the building is dated, what is the attraction for the buyer? As you said, there are plenty of better buildings with actual views in the area.

Anonymous
1 month ago

Rent by the hour buildings…cheap product with no-no
(No views, no parking)

Anonymous
1 month ago

This is what you get when the city does not insist on quality standards for new construction.

Marc
1 month ago

Have to hope the demand keeps up for daily/weekly. Margins on long-term Brickell/Downtown rents are slim to none to begin with for landlords

Anonymous
1 month ago

15 years from now it’ll be a complete dive. The newness will be long gone and all that’ll be left are tiny units in an iffy area with no parking and no views. They’ll be renting it out by the hour.

Azarius
1 month ago

Short term rentals is making developers build smaller and it’s completely taking away from the Airbnb experience. If I wanted a hotel room I’d book a hotel, they’re around the same pricing smh

Anonymous
1 month ago

sad to see the old building go, but I think the new tower will do more for the neighborhood

LEP
1 month ago

it reminds me Flatiron. Matching!! I like it!!

Anonymous
1 month ago

Same architect! Great for the area

Anonymous
1 month ago

Please

Anonymous
1 month ago

That beautiful building is finally going to go

Anonymous
1 month ago

Ridiculous pricing at $750 a.sft.
Better off buy existing bldgs with waterviews and parking like One Miami, Blue, The Plaza or others.

This has no parking and it’s in the middle of downtown.

Sad that this model.of “rent by the day” bldgs keeps being developed in Miami!!

Anonymous
1 month ago

Crazy….no parking
At least Melo builds them with parking

Anonymous
1 month ago

Apples and oranges. Those are condos, these are privately owned unflagged hotel rooms. The potential of hotel income creates the value. Probably illusory.

Anonymous
1 month ago

Oversupply of ilusionary investments..the problem with these type is that they are operating businesses

Anonymous
1 month ago

This is not progress, to build overprice apts in tall square box towers is not good for most people and only fills the pockets of developers and investors. The people around will face rent increases and decreasing well paying jobs.

Anonymous
1 month ago

Not really apartments, right.

Anonymous
1 month ago

Why are a bunch of preservationists on thenext comment board. Go move to Charleston.

This is a shit area desperate for investment. Miami is in a housing crisis and the fat preservationists love it!

Anonymous
1 month ago

There’s barely enough parking at MDC during peak hours though

Anonymous
1 month ago

Take the Metromover

Anonymous
1 month ago

Lame people are coming from all over Dade to attend classes in their cars.

Anonymous said
1 month ago

Savethe1924building.com

Michael
1 month ago

Boring