Two Roads Development broke ground for construction of Elysee Miami, a 100-unit condominium tower in the Miami’s East Edgewater neighborhood.
West Palm Beach-based Two Roads, led by managing principal Reid Boren, is developing the 57-story condo at 788 Northeast 23 Street in partnership with entities managed by New York-based investment firm DW Partners. Construction is expected to be completed in 2019.
Mosaic Real Estate Credit of Calabasas, California, provided a $16.5 million loan for the first phase of construction, part of a larger commitment by Mosaic to finance construction of Elysee.
Condo units at Elysee are priced from $1.5 million to $10 million. The 100 half-floor units have 2,300 square feet to 4,000 square feet and three-, four- and five-bedroom floor plans.
The building’s seventh floor will have a swimming pool, refreshment bar, gym, yoga studio and children’s play room, plus a spa, an outdoor kitchen and a barbecue terrace.
Amenities on the 30th floor will include a bar and lounge area, an event-sized dining room with seating for as many as 30 guests, a library that doubles as a private theater, a game room and wine room.
The architect is Bernardo Fort-Brescia of Arquitectonica, and Jean-Louis Deniot is the interior architect and designer.