June 24, 2014
A wave of developers are building condos and multifamily in East Edgewater—and Related Group is keepings its making sure it makes its mark on the district with One Paraiso. The new development is a waterfront site that sits between the Design District and Downtown Miami.
Related grabbed five bayfront acres in East Edgewater for its latest projects. The master plan starts with Paraiso Bay. Next month, One Paraiso will launch. Altogether, Related will build four towers in what it calls an “urbanist’s paradise of equal parts luxury and lifestyle.”
“Each member of the design team we’ve assembled believes that the sum of the individual elements will add up to a single, spectacular whole,” says Carlos Rosso, president of Related condominium division. “Our plan is to transform this five-acre gem of a property into the epicenter of Edgewater where everyone wants to be, next to the Design District and Midtown.”
That’s a big vision, but then again Related is known for its big visions—and the company is bringing in some big guns to make it happen. Arquitectonica is planning the waterfront complex. Piero Lissoni is designing One Paraiso. Karim Rashid is designing Paraiso Bayviews.
Michael Schwartz, the James Beard Award winner for Best Chef South in 2010, will bring a new restaurant and beach club to the Edgewater lifestyle. Brazilian architect and interior designer Debora Aguiar is designing the beach club, which will offer waterfront dining and activities, including jet skiing, paddle boarding, and an in-house Paraiso boat.
Related will compete with other developers for mindshare in East Edgewater. Sakor Development and an affiliate of Encore Housing Opportunity Fund just announced a 330-unit condo project called Ion Edgewater. Value is a key theme at this luxury residence. But Biscayne Beach, a 51-story waterfront tower, is bringing something a little different to Miami’s urban core: a private man-made beach. Melo Group recently closed a $39.2 million loan at Florida Community Bank to fund development of the 38-story luxury condominium called Bay House.