Ground breaking has yet to begin for E11EVEN Hotel & Residences, a 65-story residential and hospitality building anticipated to rise in the Park West neighborhood of Greater Downtown Miami. Located at 20 Northeast 11th Street between North Miami Avenue and Northeast 1st Avenue, the project is designed by Sieger Suarez Architects and is being developed by Miami and New York City-based Property Markets Group alongside E11EVEN Partners. Already recognized as one of the fastest selling developments in the past decade for Miami, the tower is planned to rise 698-feet yielding 375 fully-furnished residences, including a Penthouse collection and 2 Presidential suites.
According to Miami’s Building Department, an application for new construction permits was created on August 12, 2021 but has not been completed, so we don’t have access to the details within the filing just yet. The developers reportedly have had much success in selling the pre-development inventory, so the eventual rise of the tower is imminent.
E11EVEN Hotel & Residences. Courtesy of ArX Solutions USA LLC.
E11EVEN Hotel & Residences. Courtesy of ArX Solutions USA LLC.
Back in June, YIMBY had announced that E11EVEN Hotel & Residences became the first project to accept cryptocurrency as a form of payment for condo deposits during pre-construction.
Pool Deck. Courtesy of ArX Solutions USA LLC.
Rooftop Deck. Courtesy of ArX Solutions USA LLC.
Sports Lounge. Courtesy of ArX Solutions USA LLC.
Chopra Center. Courtesy of ArX Solutions USA LLC.
Kitchen. Courtesy of ArX Solutions USA LLC.
Living Room. Courtesy of ArX Solutions USA LLC.
Living Room. Courtesy of ArX Solutions USA LLC.
Bedroom. Courtesy of ArX Solutions USA LLC.
Bathroom. Courtesy of ArX Solutions USA LLC.
The residences will come in studio, 1-bedroom and 2-bedroom floor plans, a penthouse collection and presidential suites, all fully furnished including a smart home and contemporary lighting package, LED fire places, top-of-the-line in-unit washer and dryer as well as kitchen appliances by Subzero and Wolf. Custom cabinetry will be done by Italkraft, and the master bedroom closets will come fully built out, while bathrooms will feature fixtures and accessories from Waterworks. Ceiling heights will reach as high as 10-feet and some residences will come with French balconies. Units start from around $300,000 and go for as high as $10,000,000.
Upon the success of sales at E11EVEN Hotel & Residences, the developers may attempt to build an additional tower to meet the demand. It is also important to note that Michael Simkins and Marc Roberts, owners of E11EVEN Miami, controls roughly 12 acres in the area where the Miami Innovation District is planned. The rise of the first tower may eventually spark the boom in development for the upcoming new district.
Groundbreaking now may occur some time in Q4 of 2021, and the developers aim to reach completion in late 2023, taking approximately 30 months for construction.
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