Metro1 Logo

Ugo Columbo Latest To Throw Hat In The Ring Of Resurging Lux Condo Market

September 12, 2013

Miami condo developer Ugo Colombo and partners are planning a new condo project on an oceanfront site in Miami Beach, the latest of the old-guard developers to test the strength of the resurgent market for new-build, luxury condos.

The project, called Beach House 8 and planned for the 3600 block of Collins Avenue.

Miami condo developer Ugo Colombo and partners are planning a new condo project on an oceanfront site in Miami Beach, the latest of the old-guard developers to test the strength of the resurgent market for new-build, luxury condos.

The project, called Beach House 8 and planned for the 3600 block of Collins Avenue.

Columbo and Valerio Morabito are replacing the Ocean Grande beachfront hotel with the eight unit, eleven story (plus underground parking) mega-luxurious condo tower by fading-star architecture firm Arquitectonica.

Beach House 8 will be among 20 other towers proposed for Miami Beach, according to a CondoVultures.com report.

Together, the projects would add more than 1,000 units to the string of barrier and man-made islands that is one of South Florida’s most densely populated cities.

Colombo, whose team lost an acrimonious contest for a billion-dollar redevelopment of the Miami Beach Convention Center earlier this year, is listed as a member of the team developing Beach House 8, according to Condo Vultures, citing marketing literature for the project.

Foreign buyers who pay in cash have fueled a revival of building. Nearly nine out of 10 buyers of the 6,500 South Beach residences sold since 2003 were foreign, the report said.

Source: The Real Deal

Call Us Now