Urban Development Review Board Approves Dual-Tower Project in Edgewater
A new dual-tower project in Edgewater received unanimous support from the Urban Development Review Board, adding 1,178 residences and 25,000 square feet of retail space.
New Development Approval
The Urban Development Review Board granted unanimous support for a dual-tower project located in Edgewater. The development is planned to include 1,178 residences and 25,000 square feet of retail space. According to Miami Today, the project received unanimous support from the board.
Impact on Local Inventory
The addition of over 1,000 units will increase the inventory of available condominiums in the Edgewater area. Currently, the neighborhood has 325 active condo listings, with a median asking price of $949,000 ($863/sq ft) and 282 sales recorded in the last 12 months, according to Own Miami data.
Nearby Residential Options
For those looking at existing inventory in the immediate vicinity of the new project, several buildings offer varying price points and styles:
- Aria Reserve features 43 active listings starting from $1.15M, with a median asking price of $1,293/sq ft.
- Bay House has 7 active listings starting from $810,000 at a median asking price of $679/sq ft.
- Icon Bay offers 13 active listings starting from $635,000 with a median asking price of $708/sq ft.
- Onyx On The Bay has 5 active listings starting from $620,000 at a median asking price of $630/sq ft.
- The Crimson has 5 active listings starting from $510,000 with a median asking price of $628/sq ft.
- 601 NE 23rd St has 4 active listings starting from $560,000 at a median asking price of $468/sq ft.
Retail and Walkability
The inclusion of 25,000 square feet of retail space in the new development is intended to provide local amenities for residents. The proximity of these units to the waterfront and existing infrastructure in Edgewater remains a primary factor for buyers in the area.
Sources
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