The 65-residence Uptown Lofts, to be located at 2275 Biscayne Blvd. near Biscayne Bay and the new Performing Arts Center, is scheduled to break ground in February. These units will range in size from 775 sf to 1,975 sf. Prices at Uptown Lofts range from $180,000 to $350,000, while two 1,975-sf penthouses are offered for $549,000. The development will offer open floor plans with 10- and 20-ft ceilings, allowing owners to design their residences to fit their living styles. The homes have Italian cabinetry, granite countertops, stainless steel appliances and floor-to-ceiling sliding glass doors. In addition, select units have two balconies.

Amenities at Uptown Lofts include a fifth-story whirlpool spa with a large sun deck, a fitness center, a sauna, a party room, 24-hour security and a covered parking garage. Construction is expected to take about 12 months.

Midtown Lofts, which will feature 96 loft residences as well as traditional units, is planning an April groundbreaking. The project will be located at 3180 Coral Way. Units here will range from 653 sf to 1,300 sf. Midtown Lofts' prices range from $170,000 to $350,000. Midtown Lofts will have features and amenities similar to those at Uptown Lofts. They will include a pool with a large recreational sun deck, a fitness center, a sauna, 24-hour security and a covered parking garage.

Midtown Lofts residents will experience the benefits of the ongoing Coral Way/City of Miami beautification project, which include wider sidewalks, additional landscaping, new outdoor seating and new lighting to enhance the street's banyan trees.

"Both urban locations are undergoing a positive transformation," Julie Varona, the projects' sales director, says in a statement. "We know that both Biscayne Boulevard and Coral Way have a tremendous future."

At press time, approximately half the residences at Uptown Lofts and Midtown Lofts were reserved. Cobalt Development requires a 10% down payment on most of the lofts, which is half the typical 20%. Avatar Real Estate Services is handling sales of the lofts.

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