Terra Group and Lion Development Group have unveiled a plan for a 606-foot-tall tower with a trifecta of themed gardens, bringing greenery to the edge of Midtown and the Miami Design District.
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Midtown 1, planned for a 1.6-acre parcel at 3501 NE First Ave., is an Arquitectonica-designed tower set to rise 48 stories from a now-vacant site. Its 400 condos would sit above a ground-level lobby with eight retail storefronts and a five-deck parking garage with 498 spaces.
In a letter of intent describing the project, Greenberg Traurig attorney Iris Escarra wrote that a “rainforest garden” will be integrated into the second floor, a sculpture garden is planned for the fifth floor and a healing garden is slated for the seventh floor.
“Terra and Lion have submitted plans for a luxury residential building set to rise at the nexus of the Miami Design District and Midtown Miami, catering to residents who want to live in proximity to world-class shopping, dining, and arts and culture — and minutes from Miami Beach,” Terra CEO David Martin told Bisnow in a statement.
Site plans submitted to the Miami Urban Development Review Board, which is slated to consider the proposal Wednesday, show amenities on the rooftop and on the eighth floor, between the parking garage and condos.
Terra and Lion tapped Yabu Pushelberg, an interior design firm with offices in Toronto and New York, for the project, which Martin said will incorporate “significant green infrastructure elements benefiting the community.”
Terra expects to begin construction next year. A spokesperson for the firm declined to provide further details about the launch of condo sales or pricing. Condos in the site plan range from 868 SF to 2,200 SF, along with a 14K SF penthouse on the 47th floor.
Renderings for Midtown 1 show a parking garage encased in glass and cladding below a deeply set-back eighth floor with a wraparound terrace. A narrower glass tower rises from the parking podium, with balconies on all sides and floors.
A vertical piece of white aluminum runs up two sides of the building to the roof, where it joins with the tower’s exterior silhouette. An angled rooftop amenity space would include a lap pool and jacuzzi, while the eighth-floor amenity deck includes 15K SF of covered space and a resort-style pool surrounded by landscaping.
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Terra and Lion acquired the site in June 2023 for $40.6M through an entity called Midtown One Investments LLC. They were backed by a $30M loan from Metropolitan Commercial Bank. The seller, Midtown Development, had acquired the site in 2011 for $4.8M.
The parcel was upzoned in 2021 to increase its maximum allowed height to 48 stories from 33 stories, Florida Yimby reported.
Coconut Grove-based Terra is one of the most active developers in South Florida. The firm announced in October that it is planning a 25-story condo-hotel as its first project in West Palm Beach. The hotel project has branding from Mr. C Hotels, Terra’s second project with the hospitality group after recently completing the Mr. C Hotels & Residences in Coconut Grove.
Terra completed Grove Central in January, a 23-story residential tower with 170K SF of retail space in Coconut Grove. It also broke ground in October on The Well Bay Harbor Islands, which will have 54 condos and 102K SF of office space.
Iowa-based Lion Development Group hasn’t been developing projects in South Florida but has recently entered joint ventures to acquire a development site and existing retail space.
It teamed up with Tricera Capital and Lndmrk Development this month on the $22.5M acquisition of 32K SF of ground-floor retail space inside the 10-story Society Wynwood residential project.
In February, Lion also partnered with Property Markets Group and Lndmrk Development on the $16.5M purchase of an Overtown development site where the venture is planning workforce housing.
