Miami New Development Update: Casa Bella Delivers With More Than 90% Under Contract
One downtown tower is closing, a riverfront penthouse is asking $39.5 million, a Coral Gables building starts in the mid-$600,000s, and three rental and mixed-use projects moved forward.
Related Group and Alta Developers have officially delivered Casa Bella Residences by B&B Italia at 1400 Biscayne Boulevard, PROFILEmiami reported October 5. Over 90 percent of the residences are already under contract, with closings now underway. The 56-story, 650-foot tower has 319 residences, including 10 penthouses, and broke ground in November 2023. Here is where the rest of the pipeline has moved since mid-September.
Condos
- Faena Residences Miami, on the Miami River. Fortune International Group and KAR Properties unveiled the first penthouse collection at 90 SW 3rd Street, led by a two-story Crown Residence asking $39.5 million. The project has 434 condominiums across two 60-story towers. That is an asking price, not a sale.
- Seventeen Gables, Coral Gables. BAM Development and Ascendra Capital opened a sales gallery for 117 units at 1715 Douglas Road, with one- to three-bedrooms from the mid-$600,000s. Construction began in April 2026 and completion is targeted for the first quarter of 2028. At eight stories it will be the tallest building in East Gables.
Rentals and mixed use
- Mohawk at Wynwood. Rilea Group broke ground on 300 rental apartments in 12- and 8-story towers at 50 NE 29th Street, with completion set for 2029, per PROFILEmiami.
- Shops at Sunset Place. Miami Today reports a plan for 1,513 residences in seven towers, a 287-room hotel and a 1,300-seat theater. Miami-Dade approved the Downtown SoMi Community Development District on September 1 to finance about $149 million in infrastructure. Demolition is targeted for early 2027, with a first phase around 2029.
- Gallery at Lummus Parc. Greystone provided $167 million in construction financing to Related Urban Development Group for 257 apartments in 30- and 27-story towers at 395 NW 1st Street, per Commercial Observer. About 83 percent are for households at 20 to 100 percent of area median income. Completion is set for late 2028.
My read
Casa Bella is the useful data point. More than 90 percent under contract at delivery, with closings underway, is the test that matters, and I will be watching how many of those contracts actually close. Everything else here is a launch, a groundbreaking or a plan, and I treat those differently. A sales gallery price is where negotiation starts. Completion dates like early 2028 or 2029 are targets, and delivery dates move. Deposits are not closings. The price spread is the other story: from the mid-$600,000s in Coral Gables to a $39.5 million ask on the river, new construction is not one market. If you are comparing projects, compare deposit schedules, projected association fees and the developer's delivery record, not renderings.
I will put deposit schedules, fees and delivery timelines for the projects you like side by side.
See the pipeline →
