New renderings revealed of Morgan Group’s Pearl Midtown 29

Developer expects to finish project by January 2018

TRD MIAMI /
May.May 24, 2016 02:15 PM

With site work well underway at Morgan Group’s Pearl Midtown 29 rental tower, the developer’s architect just released new renderings of the project that are a big step up from what’s previously been circulated.

Morgan is building a 20-story apartment building with 309 units at 180 Northeast 29th Street, which straddles the borders of Wynwood, Edgewater and Midtown.

Though few of the building’s details have changed from the old conceptualizations, the new renderings give a closer look at Pearl Midtown 29 and show how the building will mesh with its surrounding streetscapes. It would be the only tower of its height for several streets in any direction and would occupy much of the block it’s being built on.

Architecture firm Stantec designed the building. Its exterior is made up of interlocking steel frames and several lines of floor-to-ceiling glass.

Along with its apartments, the development will have five floors of parking and 12,000 square feet of retail space on the ground floor. Its amenity package includes a pool deck and rooftop terrace, as well as yet-to-be-named “outdoor amenities.”

Morgan began sitework for the project in mid-year 2015 and hopes to complete construction by January 2018.

In December 2014, the developer paid $19.1 million to acquire the two-acre site from a joint-venture consisting of Fifteen Group, Adler Development and the Encore Housing Opportunity Fund.

Morgan owns the entire city block save for two small parcels: the one that houses Enriqueta’s, a neighborhood favorite cafe, and a 4,138-square-foot retail building Morgan sold for $2.46 million in April 2015.

Shortly after that sale, the firm also secured $70.8 million worth of construction financing for its project from Wells Fargo. — Sean Stewart-Muniz


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