Delano Residences Miami: 90 Stories, Studios From $800,000

Developer PMG and hotel group Ennismore announced Delano Residences on February 19, 2026: a proposed 90-story, 421-residence condo tower on Biscayne Boulevard in Downtown Miami. Sales began in March 2026 with studios from $800,000. As of October 13, 2026, we found no report of a groundbreaking, so this is a pre-construction purchase with a delivery date years away.

The project in brief

The tower is the first residential building to carry the Delano hotel brand and PMG's second supertall in the city, according to the developers' announcement. Florida YIMBY reported a planned height of about 985 feet. The design is credited to Carlos Ott with the architecture firm CUBE 3, and Meyer Davis is doing the interiors.

Residences run from studios to three bedrooms. The announced amenities include an observation floor about 850 feet up with a cantilevered glass deck, a Sky Pool about 800 feet up, Cafe Delano, a sky restaurant and a Rose Bar modeled on the one at the Delano Miami Beach hotel. PMG Residential is handling sales, as reported by South Florida Agent Magazine and the announcement.

How the entry price compares with Downtown resales

An $800,000 starting price for a studio is above the $530,000 median that Downtown condos of all sizes closed at over the last 12 months. Own.Miami's numbers for Downtown, as of October 13, 2026:

• The median closing price over the last 12 months was $530,000, at a median $587 per square foot.
• 923 condos are listed for sale against 368 closings in the last 12 months, about 30 months of supply, a buyer's market.
• Listings in Downtown towers not yet delivered ask a median $1,202 per square foot, against $789 for resale listings, a 52% premium for new construction.

See every tower and listing in Downtown.

That premium is the price of a new building, brand amenities and a long payment schedule. It is also the gap a pre-construction buyer is betting will hold until delivery, when the unit has to compete with resale inventory nearby.

PMG's track record in Downtown

PMG's Developer Score on Own.Miami is 57 (B), from five scored buildings. Two of its towers sit on the same corridor:

• The Elser (completed 2023): 58 units listed, 24 sales in the last 12 months at a median $1,106 per square foot, about 29 months of supply.
• Waldorf Astoria Residences, PMG's first Downtown supertall, still under construction one block south: 18 units listed at a median asking $2,790 per square foot.

In Brickell, PMG's Echo Brickell (completed 2017) has 33 units listed and sold 8 in the last 12 months at a median $1,053 per square foot, close to 50 months of supply. PMG's towers can hold high asking prices, but resales can take time.