MIAMI, FL -- After months of industry speculation, Miami’s largest vertical condo developer - the Related Group with Jorge Perez (top right photo) - has formally announced plans to build a second condo tower in the Brickell Avenue Area of Greater Downtown Miami, according to a new report from CondoVultures.com.
Originally rumored to be a sequel to the proposed 28-story MyBrickell condo project with 192 units on Southeast Sixth Street, the final plans for the second condo tower – dubbed the 1100 Millecento Residences (middle left rendering)- call for 42 floors with 382 units at 1100 S. Miami Ave., according to a company statement.
With the 1100 Millecento project, the Related Group has publicly announced plans to develop seven condo towers with nearly 1,500 units – plus hotel rooms - in the tricounty South Florida region, according to the CondoVultures.com Preconstruction Condo Projects list.
“The Related Group has a three-decade-long history of identifying and developing for residential niches in South Florida,” said Peter Zalewsk (lower right photo)i, a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.
“To see the Related Group announce a series of new condo towers stretching from Greater Downtown Miami to Downtown West Palm Beach in the last year suggests there is a strong demand going forward for new residential units that are appropriately priced.
“If the existing condo units from the recent South Florida crash continue to be consumed at a steady pace, the Related Group could be well positioned to capitalize on the region’s next building boom.”
For a complete copy of the company’s news release, please contact:
Condo Vultures® LLC is a real estate consultancy and marketing company based at 1005 Kane Concourse, Suite 205, Bal Harbour, Florida, 33154. You can reach Condo Vultures® LLC at 800-750-0517.
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