Paraiso Bay, Luxury Towers with Waterfront Park
Edgewater, Downtown Miami Condos from $396,990
October 1, 2013
Joel Greene here from Condo Hotel Center. Before I tell you about today’s featured property, I have a warning for you. Stay off the roads in Miami!
Yes, you heard me right. The warning isn’t because of the traffic, the confusing signage or treacherous weather conditions. It’s something much worse.
My twin girls, Haley and Lindsay, have just turned 15. Last week they both took and passed the test to get their learner’s permit to drive. Oy!
I’m still in shock these two munchkins have grown up so quickly. When I think of them and cars, it’s pictures like this that come to mind.
As my daughters have grown and changed, so have the areas in South Florida where I’ve been selling real estate, going on 27 years now. Let me throw out some quick examples:
Sunny Isles’ Motel Rowe has seen 50-100 unit mom-n-pop motels replaced with massive, luxurious, condos and condo hotel developments.
Old dilapidated properties in Miami Beach and particularly South Beach, have been renovated, turning the area into an international hotspot and major attraction for tourists as well as locals.
Ft. Lauderdale’s reputation as the home of Spring Break USA has seen the teens flee to less expensive cities like Daytona and has become a draw for wealthy European families.
Downtown Miami, once known primarily as an international business and financial hub has become a pedestrian-friendly residential neighborhood, appealing to young and old alike.
And a once tired, forgotten section of Miami, referred to as Edgewater, is seeing that same kind of major transformation now: from businesses and single family residences to a thriving market with luxury condo developments, upscale malls, sidewalk cafes, culture, art and increasing real estate values.
That’s where today’s featured property is located, in Edgewater. Read on for details.
Luxury Bayfront Condos
Paraiso Bay will be a residential development consisting of two towers and a total of 700 condos. It will span five acres and is being built on the biggest vacant lot available in Edgewater right on beautiful Biscayne Bay.
A waterfront park offering walking trails and picnic areas will be part of the development. Among Paraiso Bay’s features will be:
- 500 linear feet of frontage facing the bay
- Waterfront park
- 100 foot lagoon-style pool on the 4th floor
- 2-acre pool deck with poolside cabanas
- Aqua Club with poolside café lounge
- Exceptional common areas
- State-of-the-art fitness center and spa
- Party room
- Kids and teens play room
- Outdoor bbq and al fresco trellis lounge areas
- 2 tennis courts
For services Paraiso Bay will have 24-hour security, a multi-lingual concierge, valet parking, doormen, in-room or poolside massage, and an airport shuttle service.
Additionally, the developer will soon enter into a membership agreement with an existing club or hotel nearby that will allow owners to use their beachfront facilities. We’ve seen other luxury condo developments offer this type of arrangement successfully.
Why Edgewater Is Hot
Paraiso Bay is located in Edgewater, Miami’s hottest new district. It’s close to arts, culture and excitement and has plenty of upscale shops, restaurants, cafes, and clubs nearby.
From Paraiso Bay, it will be just five minutes to the Adrienne Arsht Center, two minutes to the Wynwood Arts and Miami Design Districts and only nine minutes to the American Airlines Arena, which has year-round shows and concerts, and is also home to the Miami Heat.
Paraiso Bay is just minutes from South Beach, downtown Miami, major expressways, Miami International Airport and the Port of Miami.
There’s plenty of other development going on in the surrounding area, too. Just a few short blocks away is Midtown Miami, a $2.3 billion mixed-use project that encompasses a grocery store and dozens of restaurants and bars.
Future development in the area also includes Resorts World Miami, a four-hotel waterfront resort, condominium and entertainment complex with 750,000 square feet of convention and meeting space; more than 50 restaurants, lounges, bars and nightclubs; and 60 luxury shops.
Additionally, it is the proposed site of Miami’s first full-scale casino, if casino gambling gets approved. Also to be built within the next few years are the Miami Art Museum and the New World Symphony.
The Developer and Architect, Among Miami’s Finest
Paraiso Bay is being developed by The Related Group, which has a three-decade-long history developing upscale residential projects and a $10 billion development portfolio. As the number one multi-family developer in the U.S., the firm has redefined the South Florida landscape.
Paraiso Bay is just one of about 10 developments they have in Miami and Miami Beach along with other very successful projects like the Icon Brickell, Icon Bay, Viceroy Hotel, 50 Biscayne and The Yacht Club.
The architect for Paraiso Bay is equally well-respected. Arquitectonica is arguably Miami’s most influential architectural firm. It started out in a small Miami studio in 1977 and has evolved into a major international firm with 11 offices around the globe. It is a veteran in the high-density condo design market in Miami with well-known projects like Icon Brickell, Icon Bay, Latitude, Axis and Bentley, to name a few.
Construction Plans & Pricing
Construction on Paraiso Bay is expected to begin by the summer of 2014. It should be complete by the end of 2016.
Condos are being reserved now at preconstruction pricing with just 10% down. Available are a total of 350 bayfront one- to four-bedroom residences plus penthouses with oversized balconies.
All condos offer views of Biscayne Bay, South Beach and the property’s lush green, one-acre, waterfront park. Prices range from $396,990 to $1,141,900.
While details such as specs for the kitchens and bathrooms are still being determined, I do have additional information and lots more artist’s renderings in my data sheet. It’s yours for the asking. You just need to register at the link below, per the developer’s requirements.
Growing Up Fast
Just like Edgewater in downtown Miami, my daughters are growing up so quickly. I’m still shaking my head wondering how it could be Lindsay and Haley are learning to drive when it seems just yesterday they were learning to walk.
If you’d like to tour the area where Paraiso Bay is being built or any other condominiums here in South Florida, I hope you’ll give me a call. It’d be my pleasure to show you around. And I promise it will be me driving and not my twins, so you can sit back, relax and enjoy the ride.
Have a great day!
Licensed Real Estate Broker
Condo Hotel Center
1368 NW 165th Ave.
Pembroke Pines, FL 33028
Want to know more about me? Click below: //www.condohotelcenter.com/joel-greene.html
Follow us on Facebook
© Condo Hotel Center. All rights reserved. No portion of this Property Alert may be reproduced, exhibited or distributed without the express written permission of Condo Hotel Center. Condo Hotel Center takes copyright infringement seriously. Violators will be prosecuted to the fullest extent of the law.
Although Condo Hotel Center believes the information contained in this Property Alert to be accurate and complete, Condo Hotel Center can make no such guarantee. All features and descriptions are subject to change.
Please speak with your personal legal and financial advisors to determine whether this property is suitable for your objectives.