Miami real estate sees major high-rise residential developments

Miami is seeing significant residential real estate development across several key districts, including Ocean Drive, Downtown, and Brickell.

On Ocean Drive, a proposal is underway to replace the Arlington building with a 38-story condominium structure at the Savoy Hotel site. The project, which would include 90 condominiums and 60 workforce rental units, is subject to the Live Local Act, requiring 40 percent of units to be designated as workforce housing for at least 30 years.

In Downtown Miami, the 56-story Casa Bella Residences by B&B Italia has been completed at 1400 Biscayne Boulevard. Developed by Related Group and Alta Developers, the tower features 319 units and has begun the closing process following the repayment of a $240 million construction loan.

Additionally, the Baccarat Residences Miami is currently under development in the Brickell area at the mouth of the Miami River. This 75-story tower, a collaboration between Related Group and GTIS Partners, is expected to feature 360 residences. Construction has reached the 40-story mark, with completion projected for early 2028.