Units At Twin-Tower Project On Miami River Will Be Among The Most Expensive In Downtown Miami

Kar Properties has revealed pricing and the name of a twin-tower project planned for the north bank of the Miami River.

The developer told the Herald that units at One River Point, as the project is named, would start at $850 per square foot, with prices ranging from $850,000 to $12 million. That would make it one of the most expensive projects ever in downtown, priced significantly higher than the current $620 per square foot that the average preconstruction project in Brickell is asking.

Luxury features at the 350-unit project will include 10 to 12 foot ceilings, unusually large balconies, and private elevators. The Rafael Viñoly-designed towers will also feature a robotic parking garage, and an 85-foot waterfall fronting the river.

Each tower would rise 60-stories, or 779-feet. Construction will be complete in 2018.

KAR CEO Shahab Karmely said that land in Miami remains cheap compared to global cities such as London, New York and Hong Kong, and that luxury will be moving inland. He said the project would include a second phase, with rentals, hotel units, and less expensive condos.


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