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Revealed: 690+ Rental Units Planned At 400 Biscayne

A “smart” rental tower with over 690 rental units is planned at 400 Biscayne.

Residents will have keyless entry to their apartments, and audio, video and thermostat control from an app on their phone. There will also be a co-working space, business center, and library.

Canada’s Greybrook Realty Partners and PMG are equity partners on the project, with Greybrook contributing $32m.

PMG has previously said that a second tower with condos will also be built on the 400 Biscayne site. Retail space and a rebuild of the First United Methodist Church currently on the site is also planned.

One block away, Greybrook and PMG are co-developing an ultra-luxury 1,049-foot condo tower at 300 Biscayne.

GREYBROOK REALTY PARTNERS MAKES AN INITIAL INVESTMENT OF CDN$40,484,720 IN A RESIDENTIAL DEVELOPMENT PROJECT WITH PROPERTY MARKETS GROUP IN MIAMI, FLORIDA
OCTOBER 12, 2017

Greybrook Realty Partners Inc. announced today the successful closing of an initial equity investment by its managed issuer of CDN$40,484,720. On the scheduled closing date, the investment proceeds will be used to fund the acquisition and development of a prime parcel of land located in Miami Florida. Together with its developer partner, Property Markets Group (PMG), the firm will develop the land into a mixed-use multifamily residence consisting of over 690 units and 20,000 square feet of commercial space at grade.

The property is located within Miami’s rapidly growing Downtown Miami neighbourhood at 400 Biscayne Boulevard. The planned development will feature unobstructed waterfront views of Biscayne Bay, Miami Beach, South Beach and the Atlantic Ocean. The development site, which is adjacent to Bayside Marketplace, Bayfront Park and American Airlines Arena, will provide future tenants with convenient access to public transit, including the Brightline intercity rail system and everything Downtown Miami has to offer. The future site of one of the largest private master-planned projects in the United States, the Miami Worldcenter, is located one block northwest of the development. The Miami Worldcenter is expected to bring over one million square feet of luxury retail, dining and entertainment to the area once it is completed. Greybrook and PMG are also currently developing a nearby property, located at 300 Biscayne Boulevard, into an ultra-luxury residential condominium.

“We are thrilled to partner once again with PMG on our third investment offering in the South Florida market,” states Peter Politis, CEO of Greybrook Realty Partners. “The region is experiencing a shortage of high-quality rental inventory as supply is unable to meet the growing demand for rental accommodation. We believe that 400 Biscayne will provide an attractive rental offering featuring luxury amenities and efficient floorplans that are well-suited to millennials and students of the nearby Miami Dade College (which does not provide housing facilities for local or international students due to lack of available land nearby).”

The development will provide residents with an array of premium amenities, including: smart home features (keyless entry and audio, video and thermostat control via a mobile app); a large co-working space with integrated library and business centre; a fully-equipped fitness centre featuring a pool, a spa and a yoga studio; on-site bars; restaurants; retail shopping; and seamless wi-fi access throughout the building.

 

initial renderings, subject to change:

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37 Comments on "Revealed: 690+ Rental Units Planned At 400 Biscayne"

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bitg
bitg

looks good. get it done

Anonymous
Anonymous

Sharp…!!!!…with all that is under construction in this area I can see a real big city vibe 24 hours a day…. Good for Miami…!!!

Anonymous
Anonymous

Cities aren’t vibrant when the sidewalks are empty with everyone in their car.

Anonymous
Anonymous

if you choose to live in this building and with all the retail/restaurants/entertainment venues available you would not need your car….hence vibrant street life

Anonymous
Anonymous

The renderings show.. wide streets with a large parking garage base.

marc
marc

Large parking garage base wrapped with retail/restaurant space at foot level.

Anonymous
Anonymous

I need a place to park my scooter!

Anonymous
Anonymous

Hey…is that you Peter Parker?

Anonymous
Anonymous

Downtown needs density. There won’t ever be walkability without density. They go hand in hand. This building will help achieve this and moreover, close that horrible gap between Arena Freedom Tower and the rest of downtown.

Anonymous
Anonymous

I hope you’re right man. For over thirty years I’ve been tired of looking at that stupid gap in Miami’s skyline.

Gene
Gene

All these new fill-in towers will sure add to the density needed to make Miami more walkable, but there are a few more things that can help out. Demand that developers provide shade/rain canopies on the facades of their buildings. Demand that commercial and retail spaces be abundantly located at street level and minimize blank wall space. Finally demand that developers provide adequate street lighting for security.
Downtown Miami was a crowded, walkable city in the 30’s and 40’s – before the luxury of air conditioning. And to top all of that off, developers should press the city and contribute to the expansion of the metromover north and south of the current limits. It’s a cheap way to bring mass transit to Wynwood/Design District and to Coconut Grove/Coral Gables.

Anonymous
Anonymous

Demanding too much is what ran developers away, stifled development, and kept Miami in the boondocks for so long years ago.

Miami1
Miami1

Nice addition to Downtown, I like it!!!

anonymous
anonymous

Give PMG whatever it wants. Amazing!

Anonymous
Anonymous

Love this proposal

suomynona
suomynona

So by”smart” they mean “$mart”, right?

Anonymous
Anonymous

Sorry but don’t think the design is so grand. Especially with 1000 Museum and Aston Martin Residences

Anonymous
Anonymous

Well then I guess, according to you, the architect of this building should hang his head in shame and go home and say to his mother “I failed.”

Anonymous
Anonymous

How “smart” are these towers? Think of the security issues with vulnerabilities discovered in electronics/software all the time.

Anonymous
Anonymous

Ohhh…the horror!

Anonymous
Anonymous

The Miami climate is not conducive to walkabikity. Enjoy your 110 degree heat index with daily afternoon thunderstorms with the safety issues of homeless and drug addicts. Most people prefer the comfort of their cars. Obviously the market agrees.

Anonymous
Anonymous

Or how about office buildings so you dont have to live in downtown and commute to Doral for work

Anonymous
Anonymous

What are you talking about? Places like Singapore are very walkable with a comparable climate. It’s just the combination of lack of trees, transit, and fact everything is spaced out no matter how tall, makes walking miserable. Miami21 was supposed to fix that, but of course doesn’t do shit when developers get waivers passed out like candy.

Anonymous
Anonymous

The market is what the market is. The vast majority of condo buyers and renters prefer their own car. It’s the culture here like LA. Add in the poor public transportation, the fact everything is spread out, the heat, humidity, thunderstorms, homeless, it’s no wonder 90% + of people want their autos.

There’s a niche of urbanites that want walkability but it’s a niche. The culture is car oriented and developers are there to make money and give the people what they want- parking for their cars so they can get from here to there in air conditioned comfort without sweating like a pig or watching homeless defecate on the street.

Anonymous
Anonymous

Are developers giving people what they want or what they’re already used to? Obviously it’s the latter. There’s bad weather and homeless people in NYC too but guess what, people still walk and take the train near them anyway.

Anonymous
Anonymous

Before global warming, people who lived in places like NYC, Philly, and Boston had to put up with three feet of snow and blizzards which definitely were not “conducive to walkabikity(?).” And I haven’t even mentioned the “safety issues of homeless and drug addicts” in those cities.

Your point is pointless!

Anonymous
Anonymous

In cold climates, you are not drenched in sweat and smelling like a pig needing a shower. Try a mid afternoon summer stroll along downtown miami concrete canyons in a business suit in August.

B Dub
B Dub

You just described walking in Manhattan in July and August. Then you wait on a subway platform that is 10 degrees warmer (closer to hell) for an indeterminate time to pack onto an already overcrowded train.
NYC still gets blasts of winter snow. What’s really fun is when it starts to melt, and there is 10 foot wide ice water at each corner to slog through.

Anonymous
Anonymous

^^^^^^ The Gospel

Anonymous
Anonymous

In “cold climates” you get your ass from point(a) to point(b) as quick as you can and then get indoors to some heat.

Anonymous
Anonymous

Your post is pointless if you seriously believe in Chicken Little global warming B.S.

Anonymous
Anonymous

I believe in global warming science the same way you believed in Iraq has “weapons of mass destruction” bullshit.

Anonymous
Anonymous

they are good points

Anonymous
Anonymous

The podium and curved ends of the tower are quite good, but enough with the ugly patches of balconies!

Anonymous
Anonymous

Downvoted for constructive (no pun intended) criticism, I see…

Anonymous
Anonymous

700 rental units? OMG. A nightmare.

Anonymous
Anonymous

Why don’t you take a trip to some other much bigger cities and see how they turned out with buildings that contain up to 1200 and over rental units.

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