36 Down, 36 to Go at Mixed-Use Loft Project

MIAMI-Aria, a new, mixed-use loft condominium project planned for the city’s Design District, has sold 50% of the units in less than one month. The approximately $24-million project is being developed by Urbana Development Group, formed in March 2002 by entrepreneur Jeremy Green and real estate industry veterans Jeff Morr and Fabien Tremoulet.

The 18-story project, which will be built at 90 N.E. 41st St., will consist of 78 lofts and nearly 7,500 sf of retail space. Construction is scheduled to begin next spring. Each loft will feature 10-ft-deep outdoor living terrace. In addition, the Asian-inspired rooftop has a gym and a 50-ft-long pool surrounded by daybeds and panoramic bay and city views. Residence prices range from the low $200,000s to the high $400,000s, while penthouses go for upwards of $800,000.