One Miami, a waterfront development, will be the biggest residential project in downtown Miami. It will feature 896 residences in two towers reaching 44 and 45 stories. As of press time, the development was more than 90% sold.
The project is serving as a catalyst for the several thousand units planned for development in the downtown area in three to five years.
"This is an extremely positive step for development in South Florida and downtown Miami, in particular," Jorge Perez, CEO of Related Group of Florida, says in a statement. "The size and magnitude of the loan clearly convey the importance of the project and its role in the urban renewal process of the area."
The international firm Arquitectonica of Miami designed the buildings, and the interior design firm working on the project is Toronto- and New York-based Yabu Pushelberg. The firm will bring a contemporary, elegant look and feel to the common areas, such as the fitness center, the pool deck and the lobby.
Units are priced between $200,000 and more than $700,000. One Miami offers cityscape and waterfront views within the central business district.
Interior amenities include private balconies, high-speed Internet access, granite kitchen countertops and European cabinetry. Building amenities include garage parking, a business center and proposed tennis courts.
The development also will feature a public Riverwalk with museum-quality art, a waterfall, seating areas, lush landscaping and an indoor/outdoor cafe. The Riverwalk will provide a link from One Miami to area attractions, such as Bicentennial Park, Bayside and the American Airlines Arena.
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