Denver-based real estate developer AIMCO is planning to redevelop an assemblage of properties in Edgewater near Biscayne Bay. In their recent Fall 2021 Investor Presentation, the company told investors that they completed the purchase of additional properties beside their Hamilton on the Bay apartment tower, which combined will allow for 1.1 million square feet of new construction. The assemblage is comprised of 10 plots of land approximately totaling 70,000 square feet, which may give way to two luxury residential towers well over 50 stories, and potentially addressed as 640 Northeast 34th Street.
The development site is generally located along Northeast 34th Street between Northeast 5th Avenue and Biscayne Bay. Based on the few images released at the presentation, the addresses within the assemblage (from east to west) include 510, 522, 526, 532, 560, 600, 610, 620 630 and 640. The site sits south of AIMCO’s Hamilton on the Bay and Related Group’s Paraiso Bay residential complex, north of the Bay Park Towers Condominium and about a block away from Biscayne Bay.
Development Site. Courtesy of Google Maps.
640 Northeast 34th Street. Image courtesy of AIMCO.
AIMCO released a handful renderings of the proposed towers at their presentation, depicted as two high rise structures designed in a similar fashion to neighboring residential developments. The architect remains unknown for the time being, but both towers appear to rise out of a 9 or 10-story podium, clad in smooth stucco and floor-to-ceiling glass windows. Considering the fact that Related’s Paraiso Bay towers rise 550-feet, AIMCO’s towers may surpass that height as the renderings show both structures reaching potential heights of 600+ feet.
Rendering of the tower proposed for 640 Northeast 34th STreet. Image courtesy of AIMCO.
Image courtesy of AIMCO.
640 Northeast 34th Street. Courtesy of Google Maps.
AIMCO also announced they plan to convert the end of Northeast 34th Street into a public park, further extending Edgewater’s bay walk northwards.
Demolition permits will be required for the clearance of several single family homes along Northeast 34th Street.
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With global warming and threat of sea levels rising, how does this project get approved?
Aren’t you just adorable.
The traffic nightmare on 33rd and 34th Streets will get much worse.
Concrete canyon. Edgewater is a mess. One apartment’s windows looking into another apartments windows.
The price of the building was too low, there must be a benefit for the family as properties are selling in the hundreds of millions