PHOTOS: On the scene at Iris on the Bay’s grand opening

The Spear Group and Braddock Financial held a ribbon cutting for Iris on the Bay, a new gated townhome community in North Beach.

The developers bought the 2-acre property in 2012 and recently opened the first phase of the 43 four-story townhome waterfront project. A majority of new owners are domestic buyers who were looking to upgrade to bigger homes, according to a press release. Sales for the second phase are underway and will break ground this spring.

Amenities at Iris on the Bay include terraces, private elevators an two-car garages. Beilinson & Gomez designed the development with interiors by Michael Wolk Design Associates and TUI Lifestyle, according to the release. Units range from 2,150 square feet to more than 2,500 square feet.

In March, the Miami Beach Design Review Board approved a waterfront condominium project that will fill in the last vacant parcel of land along Miami Beach’s Indian Creek Drive in North Beach. The developers are planning a 30-unit luxury condominium with views into Biscayne Bay, private boat docks and a baywalk with public access along a pristine stretch of Biscayne Bay.  – Katherine Kallergis