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Inventory Intel: Miami’s first large-scale opportunity zone development tops off

Construction on Soleste Grand Central, Miami’s first large-scale opportunity zone development, has topped off at 18 stories, according to co-developers The Estate Companies and PTM Partners.

The 18-story, 360-unit development located at 218 NW 8th St., will feature outdoor lounge areas overlooking the Miami skyline, fitness and yoga centers, a spa and a co-working space for residents.

“We are thrilled to have reached this significant construction milestone and look forward to delivering an exceptional development to the Downtown marketplace,” said Robert Suris, managing principal at The Estate Companies, in a press release. “Soleste Grand Central offers an elevated collection of health and wellness offerings, social components, and cutting-edge amenities at an attainable price point. We are confident this development will set a new standard for luxury rental properties in the area.”

Studios, one-, two-, and three-bedroom units will range from 442 to 1,082 square-feet and will offer modern kitchens, walk-in closets, private balconies, and in-unit washer-dryers.

“By combining PTM and The Estate Companies’ deep knowledge and expertise in multifamily development, we have been able to develop a Class-A product that we intend to bring to market at a price point that is accessible to renters who have been priced out of many other recent new Class-A developments in Miami,” said PTM Partners CEO Michael Tillman in the press release. “On top of that, we have layered in novel amenity and technology offerings that are unlike others we have seen to date in the Miami marketplace and are excited to deliver a desirable home for our future residents.”

Soleste Grand Central is slated for completion in quarter one of 2021.

Miami Agent Magazine. Aug 2020.

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