MIAMI—Another residential real estate development is set to rise in Edgewater, one of Miami's hottest emerging markets. Spider is ready to go to the Miami Design Board for review of its project just three weeks after closing on a four-acre land assemblage here.

The Edgewater site is located at 113 and 123 NE 25th Street in Miami. The proposed boutique residential tower may get approval in record timing with Spider's unique model, which starts the arduous, creative process of conceptualizing and designing its residential project well in advance of closing on the land.

“The biorhythm of investment has changed and the real estate industry needs to adapt by applying metrics to projects that appeal to today's investor seeking speed to market, and return on investment,” says Andres Goldenberg, chairman of Spider. He goes on to describe the company's due diligence process for land acquisitions, which works simultaneous with activities its task force performs in advance of deals closing, “significantly reducing the timeline for a project from start to finish.”