MIAMI—Call it a milestone in Downtown Miami's resurgent residential real estate market. Or call it The Bond on Brickell.

The Rilea Group project is the first condo planned for Brickell Avenue since the recession. The 328-unit luxury condo tower is located at 1080 Brickell Avenue in the heart of Miami's Brickell Financial District.

Construction of the 44-story tower is officially underway and set for completion in early 2016. The start of construction comes as the next wave of residential development in Miami's downtown gains steam, fueled by growing demand for luxury condo living among international and domestic buyers and rising levels of interest in urban living among residents.

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