Terra, Major Food join developers of planned waterfront Edgewater condo tower
MFG will brand and operate restaurants, amenity spaces at roughly 50-unit building
David Martin’s Terra and Major Food Group joined the development team of a planned waterfront condo tower in Miami’s Edgewater, The Real Deal has learned.
The group plans The Villa, with roughly 50 units, at 710 Northeast 29th Street. About two years ago, developers Louis Birdman, Kevin Venger, Michael Konig and Alex Posth, secured approval for the 649-foot-tall project, previously called 729 Edge, which, at the time, was considered a One Thousand Museum look-alike. Birdman and Venger were part of the development team for One Thousand Museum, designed by the late Zaha Hadid. One Thousand Group, which includes Birdman, Venger and Konig, is co-developing the tower with Terra and Major Food Group.
Douglas Elliman was tapped to lead condo sales of the 58-story Edgewater tower, sources said. Full floor units could start at $8.5 million for a 6,200-square-foot condo.
New York-based Major Food Group, led by Mario Carbone, Jeff Zalaznick and Rich Torrisi, will brand and operate the restaurants, lounges, bars and amenity spaces, according to sources. That includes a waterfront restaurant on the ground floor. Carbone will also design the in-unit kitchens, and be involved in the project’s design.
The tower will mark the first residential building involving Major Food Group. The restaurant company was previously going to brand developer Michael Stern’s 90-story tower planned for 888 Brickell Avenue, but their deal fell apart, TRD previously reported.
Major Food Group has expanded across South Florida since opening Carbone in South Beach more than two years ago. It opened Contessa, its 10th restaurant in South Florida, in the fall.
Terra and Major Food Group did not immediately respond to requests for comment.
Similar to One Thousand Museum, the Edgewater building will have a helipad on the roof.
The Miami Urban Development Review Board approved plans for the then-70-unit Edgewater tower about two years ago. Those plans called for 13,000 square feet of retail space, and 160 parking spaces on site. ODP Architecture & Design is the architect, and interior design firm Charles & Co., led by Vicky Charles, is designing the interiors.
The developers received a demolition permit in January to knock down the existing condo building, according to the city of Miami’s database. Last year, they secured additional land on Northeast 29th Street for the project’s parking garage. The garage will also include retail and an activity space on the top floor that could be used for tennis courts, a pool or another amenity, the architect said at a city of Miami board meeting in October.
A number of residential developments are planned in Edgewater, including a pair of Edition-branded condo towers from Two Roads Development. The Villa Miami project will be north of Missoni Baia and south of Biscayne Beach, both condo buildings.
Terra has been active across South Florida. The Coconut Grove-based firm recently made a $500 million offer to buy out owners of the aging Castle Beach Club waterfront condominium in Miami Beach, in hopes of demolishing the building to develop a new luxury condo project.
The company, in partnership with AB Asset Management, closed on a $43.2 million loan in March for a 148-unit luxury condo project planned for 2835 Tigertail Avenue in Coconut Grove. It is planned near its under-construction Mr. C Residences, which are a pair of condo towers connected by a garage.
Terra also has developments in Little Havana, Bay Harbor Islands and Miami Beach. In partnership with developer Russell Galbut, Terra is building the Five Park condo tower at the entrance to South Beach. Separately, in a partnership that includes Jackie Soffer, Martin plans to develop the Miami Beach Convention Center Hotel.
Miami board approves three rental, condo projects in Overtown, Wynwood and Edgewater