Sitework has started on a high-rise mixed-use project that’s been in the works for more than four years. The project, known as 700 North Miami Avenue, is slated for one of the last undeveloped parcels in Downtown Miami’s Worldcenter.
700 North Miami Avenue will feature three towers in three phases, with the buildings measuring 50, 51, and 53 stories above grade. The first tower, measuring 600 feet high, will feature both residences and retail – specifically 894 residences and 17,367 square feet of ground-floor retail. Plans also call for a nine-story parking garage.
The venture will yield three towers. Image by Kobi Karp Architecture
The remaining two phases of 700 North Miami Avenue will bring the venture’s total number of residential units to 2,346. Additionally, upon completion, there would be more than 30,000 square feet of commercial space and 2,078 parking spots spanning 167,237 square feet.
A construction timeline for the towers in the other two phases is unknown.
Witkoff Group and Monroe Capital are the two developers. The pair secured more than $300 million in financing to make the project possible. They purchased the five-acre build site for $94 million in 2021. Coastal Construction is the general contractor.
700 North Miami Avenue is unfolding at its namesake address: 700 North Miami Avenue, Miami, Florida, 33136, in Miami-Dade County.
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