Two municipalities along Biscayne Bay are expecting high-rise developments that can easily be described as unique, even by the Biscayne Corridor’s already top-drawer standards.
Rivage
(The Related Group)
The Related Group partnered with Rockpoint and Two Roads Development to create Rivage Bal Harbour, a luxury residential high-rise.
First in line is Rivage, a new luxury development poised to entrance residents of the elite enclave of Bal Harbour, where The Related Group is in the midst of closing out its first deals.
Developed in partnership with Rockpoint and Two Roads Development, Rivage is relatively still in its planning phase infancy. Construction won’t begin until the end of this year or early 2024 and is expected to last anywhere from two to two-and-a-half years.
However, one thing is for certain, says Related’s vice president, Eric Fordin: “This is going to be one of our most luxurious and boutique products that we’ve ever developed.”
(The Related Group)
Eric Fordin, Related Group Senior VP
Coined by Fordin as “skyhomes” rather than condominiums, units will range from 3,300 to nearly 13,000 square feet and include in-unit elevator access and individual private parking garages.
The development was initially approved for 61 units, but it has been redesigned to accommodate only 56 units – for now. Fordin says that number may be reduced further to less than 50 units, amplifying the exclusivity that so notably marks this new building.
Price points range from roughly $8 million to $64 million.
The high price points and large unit areas are only some of the features that translate to Rivage being so unique and exclusive. The true point of pride for its future dwellers is that this will be the first development in Bal Harbour in more than a decade.
Bal Harbour has been one of South Florida’s toniest neighborhoods since the municipality was founded in 1929. But up until recently, all of the land in this 410-acre village was completely taken up. Almost nobody could get in.
Related and its partners had only one option: to find the land they needed on an existing condominium site. To do so the company purchased Carlton Terrace, an older building located at 10245 Collins Ave., for approximately $130 million.
Fordin says the circumstances were just right for that deal to go through, and that Carlton Terrace’s “glory days are far behind them,” meaning the owners were able to capitalize on their land value by selling enough units in bulk and at a premium.
On top of that, Carlton Terrace has just 88 units and doesn’t optimize the square footage allowed on the site. The relatively small building was ripe for a land grab and Related got dibs.
“[It was] going to be much more complicated to structure a deal with another building in that area,” Fordin said.
Now that the path is clear and set for the new luxury development, however, Fordin says Related is keeping things relatively on the downlow. In what he calls an intimate marketing approach, he and partnering developers are mainly reaching out to people they already know that are looking to buy in South Florida, many of whom are relocating from Chicago, New York and California.
“This is going to be much different than what you see out and about around the South Florida market,” Fordin said. “This is kind of an ‘if you know, you know’ type of product where we’re cultivating a neighborhood where people who are buying in here want their friends, want their family to live in the same building … It’s a very, very exclusive property.”
The development will feature 25,000 square feet of on-site offerings, which include a fitness pavilion with panoramic views; a hammam spa complete with hot and cold plunge pools and private treatment rooms; pickle and paddle ball courts surrounded by lush landscapes; a private, chef-driven food and beverage services and cocktail lounge; a VR game simulator and kids’ playroom; and a 24/7 residential butler and dedicated lifestyle concierge.
“From our point of view, we’re curating a neighborhood for Florida’s elite,” said Fordin.
7918 West Drive
(7918 West Drive)
7918 is North Bay Village’s newest condominium building, developed by Pacific & Orient Properties, LLC and expected to be completed by March 2025.
In the meantime, developers are already making headway on North Bay Village’s newest 21-story, 54-unit building under the name of its address, 7918 West Drive.
Developed by Pacific & Orient Properties, LLC, this Japanese-inspired waterfront condominium will sit on a 33,600-square-foot lot on the Intracoastal Waterway between El Portal and Normandy Isles. The high-rise will feature only four corner units on each floor, with each residence ranging from 1,677 to 7,086 square feet. No two units will be the same, although each will feature panoramic views of Miami’s cityscape and the ocean.
(7918 West Drive)
Each residency at 7918 West Drive will be a corner unit with panoramic views of the ocean and Miami’s skyline.
The Japanese influence on the development’s design comes in the form of indoor Zen gardens and myriad allusions to the natural world. The main aesthetic, however, is within the vision of world-renowned architect Juan Azulay, who harbored the integral relationship between light and shadow with each unit’s unique windowscape.
“Using digital design parametric methodologies to optimize the building’s form, Azulay creates undulating panel forms, non-repeating intercut balconies that affect shadows and light lines of lower floor balconies, and an open area system – a distinctive design that looks to the future,” reads a press release for the development’s groundbreaking.
(7918 West Drive)
7918 West Drive’s design features Japanese influences and natural elements.
That press release also boasts of advanced technology, which will include facial recognition for the building’s lobby, elevators, parking lot and amenities, as well as a high-speed fiber internet IT control center in each unit.
“You got to ‘wow’ them,” said Alex Martin of KW Property Management in a marketing video on the development’s website, “because these are individuals that – you’re truly the top 1%.”
The new property will feature 15,224 square feet of common areas, 148 parking spaces and 34 storage units. Amenities include a pedestrian walkway along Biscayne Bay, swimming pool, fitness center, elevated garden, club room and a fully equipped chef’s kitchen that also features innovative technology.
The groundbreaking for 7918 was celebrated Feb. 23, and construction is expected to be completed by March 2025. Prices for the units now begin at $2.1 million.