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

TRD 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
Rendering of Legacy Hotel and Residences with Dan Kodsi and Peggy Olin

Developer Dan Kodsi plans hotel-condo tower at Miami Worldcenter

The Eureka Drive site, Deme Mekras, Elliot Shainberg

Garco buys Miami-Dade land for multifamily project

FCP’s Palm Beach County portfolio and Bruce Gago

FCP pays $86M for three Palm Beach County apartment communities

Moishe Mana and a map of the project

Mana Group reveals timeline for downtown Miami plans

WATCH: Developers and co-living operators shed light on the growing industry

WATCH: Developers and co-living operators shed light on the growing industry

Rendering of the Miramar project, Tom Godart

Altman closes on development site of mixed-use Miramar project for $35M

WATCH: Grant Cardone espouses his real estate investing philosophy

WATCH: Grant Cardone espouses his real estate investing philosophy

Old Post Office building, Biscayne Bay Brewing's Jose Mallea and Stambul USA's Daniel Peña (Credit: Google Maps)

Developers of historic downtown Miami Post Office building get OK to open multiple bars

arrow_forward_ios