Tag: Two Roads Development

 
After breezing through the UDRB (Urban Development Review Board) in March and opening their $10 million sales center in April as they launched sales, Two Roads Development has applied for construction permits so that they can get to work on EDITION Miami Residences in Edgewater straight away.

The permits filed would allow Coastal Construction to begin site work on the 56-story tower as well as to build an 800-foot seawall around the waterfront lot. A total of 187 residential units are planned as well as a 13-level parking garage, and 3,500 square feet of office space. While the tower is branded EDITION, it is important to note that there is no hotel component on-site. This is purely a residential tower, just with EDITION-branded services and amenities. Owners at EDITION Residences Miami will also receive Owner benefits with Marriott International at all of their hotel brands including St. Regis and Ritz Carlton. 

This is the first of three towers planned for the 2121 North Bayshore Drive location in the Omni District, which is nestled between Edgewater and the Miami Arts and Entertainment District. The developer is hoping to be able to have their groundbreaking this summer.

“We’re excited to partner with one of the world’s most renowned luxury and lifestyle brands to bring its first ground-up residences to life in Miami’s urban core,” said developer Taylor Collins, Managing Partner of Two Roads Development. “EDITION Residences, Miami Edgewater, will set itself apart from anything else in the Miami market because of its product distinction, degree of sophistication, unique layouts and design, and unprecedented level of service, finishes, and pristine attention to detail.”

All That Glitters Is Not Gold

While the buying public has shared the excitement that Two Roads and EDITION Hotels radiates, inking over $160 million in condo reservations since the sales launch last month, a handful of people are not so thrilled. The existing 192-unit Biscayne 21 condo is home to a few owners who are quite displeased with the plans, filing a series of lawsuits to block the demolition of the aging condo tower.

Because of the number of claims, it is difficult to tell what the true reasoning behind the legal drama is. What it boils down to is these owners are claiming that the developer did not garner enough approval from the owners to terminate the condominium association, and therefore they should not be required to move (insert reasons 1-100 why they should not have to move).

The main statement is that while the building is an older tower, it is not in disrepair and has recently passed its recertification inspection. Had 100% of the owners been on board with the sale, they would agree to the termination, yet Two Roads only garnered 90% of the units.

The problem with this statement is that Two Roads did receive enough approvals to take over the condominium association. They could just ride out the lawsuits, close the amenities and wait for the owners to buckle and sell. Even if these owners win the battle, they will lose the war.

What will likely happen is the developer will make a different offer to them and the problem will go away, historically speaking with the way problems such as this are typically solved. It’s a pretty common occurrence with condo terminations. There are always a few holdouts, which makes these types of transactions exceptionally tricky.

Having two statement buildings already standing in the neighborhood, Biscayne Beach and Elysee, this is not Two Roads’ first experience and they understand how to navigate the problem. This is why they are not slowing down one bit on garnering their approvals and preparing for demolition of the existing tower. EDITION Miami Residences is happening and will make another beautiful mark on Miami’s glittering skyline.

Prices at EDITION Residences Miami Edgewater begin at $1.8 million and venture up to $8 million for a 4-bedroom layout overlooking the Biscayne Bay.

Douglas Elliman is the exclusive broker for EDITION Miami Edgewater Residences. If you are interested in a presentation and specific pricing, please contact Michael Light, Broker and Executive Director of Luxury Sales at Douglas Elliman. You may reach Michael directly at (786) 566-1700 or via email at michael@miamiluxuryhomes.com.

Photos courtesy of Two Roads Development/EDITION Miami Edgewater Residences

 
More big changes are coming to the waterfront Edgewater district in Miami! Over the weekend, Two Roads Development officially launched their new super-development that is set to be built at 2121 North Bayshore Drive, just on the border of Edgewater and the Miami Arts & Entertainment District. The three-tower development is spearheaded by the easternmost tower, EDITION Miami Residences.

The official launch party was co-hosted by Cultured Magazine and offered elegant bites and mezcal cocktails, lots of elbow-rubbing with the developers, the Douglas Elliman sales team, architect Bernardo Fort-Brescia, and previews of the sophisticated design while tunes from DJ Ruckus were spun in the background. As the sun set, guests were treated to an illuminated drone show featuring the new tower.

EDITION Residences, Miami Edgewater opened for reservations in the 3rd Quarter of 2022 to an amazing reception. Those who are familiar with the brand from Miami Beach already knew what to expect from a level of service to the elevated finishes that the brand embodies.

Offering 185 residences over 55 floors, the sleek tower will be followed by two sister towers along the waterfront of the Biscayne inlet and a garage/commercial area on the dry portion of the massive development site.

“We’re excited to partner with one of the world’s most renowned luxury and lifestyle brands to bring its first ground-up residences to life in Miami’s urban core,” said developer Taylor Collins, Managing Partner of Two Roads Development. “EDITION Residences, Miami Edgewater, will set itself apart from anything else in the Miami market because of its product distinction, degree of sophistication, unique layouts and design, and unprecedented level of service, finishes, and pristine attention to detail.”

The interiors, designed by Toronto’s Studio Munge, feature a tranquil palette of white chocolate tones with plenty of natural light. Floor-ceiling windows surround the tower with 10-foot to 14-foot ceilings. Each residence features a private elevator, superior finishes and fixtures and unobstructed views. Floor plans range from one-to-four bedrooms from 915 square feet to 2,200 square feet. There are also private guest suites for those with frequent visitors or live-in staff. Penthouse levels boast residences from 2,000 square feet up to 8,500 square feet for the tri-level upper penthouses that have private rooftop pools and gardens.

With a focus on tranquility, wellness and relaxation, the development boasts over 45,000 square feet of elevated amenities and a jaw-dropping 800 linear feet of bayfront space. Amenities are expected to include two resort-style pools with private cabanas, private training studios in the fitness facility, yoga and spinning areas and an expansive spa program. For those with productivity needs, there will be a club lounge, library,  screening room and conference center. The dog spa and park as well as kids club with a children’s play area are perfect for entertaining the whole family.

It is important to note that although EDITION is a hospitality brand, this tower has no hotel component, making it the first ever residential-only tower under the umbrella. Owners at EDITION Residences Miami will also receive Owner benefits with Marriott International at all of their hotel brands including St. Regis and Ritz Carlton. 

The owner benefits include VIP status when traveling to other Marriott brands, breakfast for 2 daily, welcome amenities, complimentary upgrades when available, complimentary 4pm checkout when available, high speed internet and property-specific special amenities. EDITION owners also receive a reduced nightly rate when traveling between properties, when available.

While a host of upgrades and perks are offered while traveling, EDITION Residences Miami Edgewater itself is to be constructed in a trophy location. The development site’s 800 linear feet of waterfront space connects directly with Margaret Pace Park, making morning or evening strolls seamless. There are 6 Michelin starred restaurants in the immediate vicinity, as well as world-class shopping outposts in the Miami Design District, Miami Worldcenter and Brickell City Centre.

Now that the project has officially launched and is expected to begin construction this year, the reservations that have been collected over the last 8 months are going to contract. Remaining residences are available with prices starting at $1.8 Million, up to $8 Million for the 4-bedroom layout.