Plans revealed for PMG’s apartment tower at 400 Biscayne

49-story high-rise calls for 646 apartments, retail and new United First Methodist Church

Miami /
Apr.April 15, 2019 11:30 AM

Rendering of PMG X Biscayne

Property Markets Group is seeking approval for a mixed-use tower at 400 Biscayne Boulevard in downtown Miami.

The New York-based developer filed plans for a 49-story, 882,000-square-foot building with 646 residential units, nearly 48,000 square feet of office space, about 3,000 square feet of retail, car and bicycle parking. PMG Greybrook 400 Biscayne Trustee LLC is going before Miami’s Urban Development Review Board on Wednesday.

Rendering of PMG X Biscayne

In January 2018, PMG paid $55 million for the 1.15-acre site and financed the deal with a $35 million loan from Greybrook Realty Partners, its partner on the development. First United Methodist Church sold the property and is getting a new facility as part of the deal.

Sieger Suarez Architects is designing the high-rise, which will have a mix of studio, one-, two- and three-bedroom apartments on floors 14 to 47. A pool deck would be built on the ninth floor, with a church sanctuary with a separate entrance beginning on the eighth floor, according to the plans.

Rendering of PMG X Biscayne

Ryan Shear of PMG previously said he was working on securing about $150 million in construction financing for the project.

It will be part of X Social Communities apartment portfolio in cities like Chicago and Denver. In South Florida, PMG recently completed X Miami at 230 Northeast Fourth Street and is building X Las Olas in Fort Lauderdale. Amenities at X Social projects typically include co-working spaces, fitness studios, communal kitchens, package lockers and bike storage.


Related Articles

arrow_forward_ios
From left: Crow Holdings' Michael Levy and NAI Miami's Robert Eckstein  with Southwest 88th and 91st streets, and between Southwest 162nd and 158th (Google Maps, Crow Holdings, NAI Miami)
Trammell Crow, Baptist scoop up Kendall Town Center dev sites
Trammell Crow, Baptist scoop up Kendall Town Center dev sites
Miami-Dade Mayor Daniella Levine Cava and an aerial of the Government Center redevelopment (Getty, Google Maps)
Miami-Dade seeks partners for Government Center redevelopment
Miami-Dade seeks partners for Government Center redevelopment
Miami Mayor Francis Suarez and Commissioner Joe Carollo (Getty)
Controversial Virginia Key homeless camp plan put on hold
Controversial Virginia Key homeless camp plan put on hold
Turnberry Associates' Jackie Soffer and LeFrak's Richard LeFrak with Rendering of the Villa Laguna (Turnberry Associates, Getty Images, SoLe Mia Rentals)
LeFrak, Soffer kick off leasing at SoLé Mia rental
LeFrak, Soffer kick off leasing at SoLé Mia rental
Related Group's Jorge Pérez and Jon Paul Pérez; rendering of the Gallery at Marti Park project (CMA Architects, Related Group, Getty)
Jorge Pérez’s Related wants to build apartments in Miami’s Little Havana
Jorge Pérez’s Related wants to build apartments in Miami’s Little Havana
Hyatt CEO Mark Hoplamazian and Gencom Founder and Principal Karim Alibhai with a rendering of the proposed three-tower development at 400 Southeast Second Avenue (James L. Knight Center) (LinkedIn, Gencom, Arquitectonica)
Hyatt, Gencom score Miami commission approval for James L. Knight Center referendum
Hyatt, Gencom score Miami commission approval for James L. Knight Center referendum
Related’s Jorge Pérez and Jon Paul Pérez with 1785 Northeast Fourth Street (Related Group, Google Maps)
Related pays $48M for affordable senior housing complex in Boynton Beach
Related pays $48M for affordable senior housing complex in Boynton Beach
Lions Group's Albert Shirian, Fortis Design + Build's Andrew Lenahan and David Polinsky with renderings of the M Tower apartment project (LinkedIn, Fortis Design + Build, Nichols Architects)
Lions, Fortis Design propose 57-story apartment tower in downtown Miami
Lions, Fortis Design propose 57-story apartment tower in downtown Miami
arrow_forward_ios

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

Loading...