Mill Creek closes on Edgewater site of $120M development

Apartment developer secured approval for 28-story, 296-unit building last year

Renderings of Modera Biscayne Bay
Renderings of Modera Biscayne Bay

Mill Creek Residential closed on a development site in Edgewater where it’s planning to build Modera Biscayne Bay, a $120 million mixed-use apartment tower.

Unity on the Bay Church sold its 2-acre site at 411 Northeast 21st Street and will relocate later this year, according to a release from Greenberg Traurig. Shareholders Ryan D. Bailine and Gavin M. Loughlin, along with Marina I. Ross and Ethan B. Wasserman, Eric Fisher, Michael J. Larson and Marissa A. Neufeld of Greenberg, represented Mill Creek.

Newmark Grubb Knight Frank represented the seller.

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Mill Creek plans to break ground on Modera Biscayne Bay in the first half of this year. The 28-story building will have 296 apartments, 11,000 square feet of retail space, and an eight-story parking garage. It was designed by Corwil Architects. The project will also have a pool deck on the 28th floor, indoor and outdoor pools, fitness center, dog park, pet spa, business center, theater room and lounge.

The Dallas, Texas-based apartment developer secured approval for the building in October, while it was under contract to purchase the land.

Mill Creek has projects near the Miami River and Dadeland Mall.

A number of condo and rental developers are building towers in Edgewater. Near Unity on the Bay, Two Roads Development and DW Partners are building Elysee Miami, a luxury 57-story, 100-unit building on the bay.