Two Roads Reaches Settlement With Biscayne 21 Owners, Clearing Path For 649-Foot EDITION Residences In Edgewater

Two Roads Development has reached and fully funded a settlement with the remaining owners of Biscayne 21, resolving years of litigation surrounding the waterfront condominium property at 2121 North Bayshore Drive in Miami’s Edgewater neighborhood and clearing a major hurdle for the planned EDITION Residences, Miami Edgewater. Designed by Bernardo Fort-Brescia of Arquitectonica, the proposed 55-story tower will rise 649 feet and contain 185 condominium residences, with interiors by Studio Munge.

The agreement concludes a prolonged dispute between Two Roads and a group of owners who declined to sell their units as the developer assembled the Biscayne 21 property for redevelopment. The existing condominium building, completed in the 1960s, occupies a waterfront site immediately north of Margaret Pace Park along Biscayne Bay.

The dispute centered on the termination of the Biscayne 21 condominium association. The building’s declaration required unanimous approval from unit owners to terminate the condominium, while an amendment subsequently reduced that threshold to 80 percent. A group of remaining owners challenged the termination in court in 2023.

In July 2025, Florida’s Third District Court of Appeal ruled in favor of the owners, finding that the amendment could not be used to eliminate their existing voting rights. The Florida Supreme Court later declined to hear Two Roads’ challenge to that ruling. Earlier this year, a Miami-Dade Circuit Court judge ordered the developer and related entities to restore portions of the building and plaintiffs’ units that had been affected by demolition work undertaken during the litigation.

The newly reached settlement resolves the remaining litigation, with the owners agreeing to sell their units to Two Roads. Financial terms were not disclosed in the developer’s announcement, although Bisnow reported that the settlement totaled approximately $50 million.

“Every major development comes with its share of hurdles, and our ability to navigate challenges and protect our vision is what sets Two Roads apart,” said Taylor Collins, Cofounder and Managing Principal of Two Roads Development. “This outcome reflects the strength of our platform and positions us to focus fully on executing our growth pipeline and creating long-term value in the markets we serve. This has been a long and arduous process, and we’re grateful to our team and partners who remained committed throughout. We’re excited to now turn our full attention to realizing the extraordinary potential of this irreplaceable waterfront site.”

Plans for EDITION Residences call for a glass-clad residential tower rising 649 feet along Biscayne Bay. The development will contain 185 residences ranging from one-bedroom-plus-den layouts to four-bedroom homes, along with three tri-level penthouses. More than 800 linear feet of waterfront frontage is planned along the property, including a connection to the Miami Baywalk and neighboring Margaret Pace Park.

Arquitectonica is designing the tower under the direction of Bernardo Fort-Brescia, while Alessandro Munge-led Studio Munge is responsible for the interiors. EDITION Hotels is slated to manage and operate the residential development.

The settlement allows Two Roads to move forward with redevelopment of the Biscayne 21 site following the multi-year legal proceedings. The project is one of several developments currently underway or planned by the firm, alongside Four Seasons Private Residences Las Vegas, Pendry Residences Tampa, The Standard Residences Brickell, and The Ocean Club, Four Seasons Residences, Bahamas.

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