Terra, led by developer David Martin, has secured approval for a 28-story condo tower along Biscayne Bay in Miami Beach.
The city’s Development Review Board approved the development on the 1.91-acre site at 1250 West Ave. on May 14. The 238-unit Bay Garden Manor Condominium, which was built in 1964, will be demolished to make way for the new condo.
Terra affiliate 1250 West Ave Owner LLC acquired the older condo and the Bikini Hostel across the street for roughly $120 million in September. The city previously rezoned the property to allow greater height.
As now approved, the condo would total 478,872 square feet in 28 stories, with 106 units, 1,653 square feet of commercial space, 11,803 square feet of fitness spaces, and 250 parking spaces. There would also be a three-level basement with mechanical parking and the health club amenities. The condo would include a pool at the ground level, a rooftop pool, a spa, and a padel court.
“The approval by the Miami Beach Design Review Board marks an important milestone for 1250 West Avenue and reflects the thoughtful evolution of the project through continued collaboration with the city, board members, and neighborhood stakeholders,” Martin said. “Throughout the review process, the proposal received strong support and constructive feedback recognizing its boutique scale, reduced density, expanded publicly accessible green space, and contributions to the Baywalk and surrounding public realm.”
The public spaces the developer committed to include a Baywalk pedestrian path along Biscayne Bay and replacing the Bikini Hostel with a public park.
Terra has partnered with RG Development Group and GV Development for this project, and it was designed by ODP Architects in Hollywood.
The units would range from 1,692 to 5,066 square feet. Prices have yet to be revealed.
This continues the trend of older condos in coastal Miami-Dade County being demolished to build luxury condos. Many condo associations in older buildings are struggling with the costs of repairs and reserves. Meanwhile, there’s been an influx of wealthy residents to Miami Beach, which has fueled demand for luxury condos.
