Two developers have started construction on a low-rise residential endeavor in Miami’s Ojus neighborhood. Canal by IQ will measure six stories above grade and feature a total of 34 condos. The studio to two-bedroom homes will measure about 470 to 910 square feet.
Currently, homes at Canal by IQ are priced from $463,000 for the smallest units; the South Florida Business Journal notes that this is one of the few new condos in Miami-Dade County costing under $500,000. At the time of publication, 15 percent of the homes (five residences) had already been pre-sold.
Image from the venture’s website
Communal amenities are set to include a lakeside swimming pool, fitness center, and grilling stations, along with electric vehicle charging stations. Sagewood Corp. and IQ Concept Development are the two developers. The pair assembled the 15,770-square-foot site for $2 million in 2022; they proposed plans for Canal by IQ nearly 10 years prior in 2011.
Sagewood is doubling as the general contractor; it intends to have the venture completed by late 2027. N25 Architecture designed the 34-condo development. Canal by IQ is estimated to cost $19 million to complete.
Canal by IQ is unfolding at 18550 NE 23rd Ct, Miami, FL, 33180, in Miami-Dade County.
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