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Real Estate Developer Purchases Waterfront Lot in Edgewater

April 22, 2013

Miami has rebounded significantly since the housing bust, as evidenced by the steady stream of new construction projects popping up all over the city. From luxury condominiums to name-brand stores, Miami’s real estate market is coming alive again.

Nowhere is this particularly noticeable than in the city’s once decaying urban core, which has gone from being a neglected mass of derelict warehouses, to the epicenter of an unprecedented urban living movement. Major real estate developers have taken notice, and a recent piece of prime but untouched Edgewater Real Estate has just been purchased. As Curbed Miami reports:

The Related Group has snagged a block-sized waterfront lot in Edgewater between 30th terrace and 31st street, according to the admins at exMiami, blocks away from their current Edgewater project, Icon Bay. This was formerly the site of the proposed and approved, but never built, ‘Element Miami’ tower. The Element design by architects Dorsky + Yue was, however, rather unsensational, which means Related being Related will probably chuck it out and start fresh.

This recent acquisition is likely to be very promising. Not only is this waterfront location centrally-located and highly desirable, but the Related Group has a notable track record for luxurious and ambitious real estate projects, which have included the Icon Brickell, Apogee, Trump Towers, and much more.

Edgewater, located just north of Downtown Miami and south of the Upper East Side, is a mostly residential neighborhood that has become popular for its waterfront residences and accessible location to Miami’s vibrant urban core. Many new residential high-rises and mid-rises are breaking ground regularly, pushing the overall quality of living upward. Whatever the Related Group has in mind, it’s sure to be exciting, given the high standards that will have to be met.

To learn more about the many amazing Miami Properties to consider, contact local industry leader Metro 1 Properties at 305-571-9991.

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