Crimson construction begins in Edgewater

Miami /
Jan.January 23, 2014 09:45 AM

One of numerous developers building a condo tower in Miami’s Edgewater neighborhood, mckafka Development Group is targeting young professional buyers seeking a “different lifestyle” for its Crimson project.

The Real Deal attended Wednesday’s groundbreaking ceremony for The Crimson, a luxury waterfront development at 601 Northeast 27th Street. Mckafka’s Stephan Gietl and Fernando Levy Hara hosted the event. Guests included Miami Mayor Tomas Regalado, city commissioners Marc Sarnoff and Keon Hardemon and several representatives from ISG World, which is handling sales at the project.

The Crimson is designed as a high-tech condo building that caters to young professionals, which in turn could generate interest from investors. The building only includes 90 units, while surrounding projects have between 150 and 300 condos.

“It’s a different lifestyle you’re buying into,” Gietl told The Real Deal. He described the project as “intelligent luxury,” with unit designs that are “very detailed, focused and high-quality.”

Designed with European elements, The Crimson emphasizes both style and functionality, according to Gietl. Residents can choose from one, two or three-bedroom layouts, as well as six penthouses and townhome designs. Other project amenities include a cyber café, electric car charging stations and a zen room.

Mckafka has received LEED Gold certification for The Crimson, Hara told The Real Deal. It is the first Edgewater development to receive that designation.

The company incorporated features it hopes would benefit the public, including a waterfront promenade and fountain, according to Hara.

“Edgewater is now the hot spot in Miami,” Hara said.

The Edgewater neighborhood stretches from Northeast 17th to 37th streets. There are currently 10 condo towers currently proposed for the area, including Related’s Paraiso Bay, Melo Group’s Bay House and Eastview Development’s Biscayne Beach.

“Edgewater will be the next Wynwood or Midtown,” Regalado said during the ceremony.

Mckafka acquired the future Crimson site through a foreclosure auction. Inspiration for the name came from the colors associated with Harvard University, where Gietl and Hara first met.

The Crimson’s groundbreaking was one of three held on Wednesday, underscoring Miami’s current state of rapid growth. Developers of the Bond at Brickell and SLS Brickell also kicked off construction.

Mckafka expects The Crimson to be completed by the second quarter of 2015.


Related Articles

arrow_forward_ios
A photo illustration of J.J. Rendon and Elysee Miami (Getty, Elysee Miami, Oficialjjrendon, CC BY-SA 3.0 - Wikimedia Commons)
Venezuelan political activist J.J. Rendón buys Miami Penthouse for $15M
Venezuelan political activist J.J. Rendón buys Miami Penthouse for $15M
French soccer player Paul Pogba and a rendering of Aria Reserve Miami in Miami's Edgewater neighborhood (Getty, Melo Group)
Consolation prize? Soccer pro Paul Pogba buying Miami condos
Consolation prize? Soccer pro Paul Pogba buying Miami condos
Two Roads Development's Taylor Collins (Getty, Two Roads Development)
Two Roads’ Taylor Collins on slowdown, rising interest rates
Two Roads’ Taylor Collins on slowdown, rising interest rates
Juan Carlos Cachoua and 2699 Biscayne Boulevard (Dwntwn Realty Advisors, Twitter)
Mexican restaurateur sells Edgewater development site for $21M
Mexican restaurateur sells Edgewater development site for $21M
(Photo Illustration by The Real Deal with Getty Images)
After Ian: South Florida’s construction costs, insurance to rise
After Ian: South Florida’s construction costs, insurance to rise
Oak Row’s David Weitz and Erik Rutter, Lndmrk’s Alex Karakhanian with 2927 Northeast Fourth Avenue (LinkedIn, Lndmrk Development, Getty Images)
Oak Row and Lndmrk pay $23M for Edgewater dev site
Oak Row and Lndmrk pay $23M for Edgewater dev site
From left: Ansorg Development's Karl-Ulrich Ansorg, Tulip Group's Kobi Elbaz, Ofir Gabriel, and Amit Kort in front of 234-264 Northeast 34th Street in Miami (Getty, Google Maps, YouTube/Tulip Group Thailand, usbotschaftberlin, Public domain - via Wikimedia Commons)
Inside look at planned Edgewater mixed-use condo tower
Inside look at planned Edgewater mixed-use condo tower
From left: Sellers Leila and David Centner and buyer Amit Kort in front of 234-264 Northeast 34th Street in Miami (Getty, Google Maps)
Centner Academy owners sell Edgewater dev site
Centner Academy owners sell Edgewater dev site
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...