Earlier this week, construction officially began on phase one of development at 400 Biscayne Boulevard across from Bayside Marketplace in downtown Miami. The 49-story high-rise mixed-use project will include private and co-living “smart rental” units featuring keyless entry and control of the audio, video, and thermostat from a mobile app on the tenant’s phone. The project will also include 20,000 square feet of retail/commercial space, a large co-working space with library and business center, fitness center, pool, spa, a yoga studio, and a new space for First United Methodist Church.
In January 2018 the [First United Methodist Church] congregation made its decision to sell its church to Property Markets Group (PMG) for $55 million. As part of the sale, there was a partnership, where the church would rebuild its space into the new development… The old church’s stained glass has been preserved and will hang in the sanctuary as a new chandelier.
Community News
The Next Miami describes the tower, designed by Sieger Suarez Architects, like this:
For the new tower at 400 Biscayne, gradient white, blue and clear fritted glass will rise 120 feet in the air from Biscayne Boulevard to clad the lower levels. Behind that will be a 12-story church (the First United Methodist Church is getting a new facility on its former land as part of the deal to purchase the property) and a parking garage with 527 spaces. White aluminum louvers and artistic murals will cover the remainder of the garage.
An amenity deck for residents is being built on level 9 and 10, including an oversized gym, spa, bar and lounge, and pool and beach areas. Three levels of co-working office space are planned above that.
Levels 14 to 47 will be residential, with a total of 646 apartments. More than half of those (340) will be studios, with the remainder 1, 2 and 3 bedrooms.
Clear glass with white frames will clad the office levels, while gray glass with dark gray frames and dark gray painted stucco will cover upper residential levels.
The two-phase project is a joint venture between PMG and Toronto-based Greybrook Realty Partners asset management firm.
“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).”
Phase two will include The Waldorf Astoria Hotel and Residences Miami at 300 Biscayne Boulevard.
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