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Trilogy's Ambitious Edgewater Development
Trilogy Real Estate Group has made a significant mark on Miami's Edgewater neighborhood with its recent acquisition of an asset previously owned by Crescent Heights for $41.9 million. This purchase completes Trilogy's assemblage of land in the area, positioning them to break ground on an impressive 834-unit residential high-rise that is expected to include a mix of both condominiums and apartments.
The Vision for Edgewater
Located at 2200 Biscayne Boulevard, the 3.7-acre site is not only strategically positioned along a busy thoroughfare but also comes with the potential for dynamic development, as the area is classified as an Opportunity Zone. This classification allows for long-term tax benefits, encouraging further investment and community development. Trilogy's plans reveal a vision that goes beyond mere housing; they aim to introduce amenities that enhance the urban experience, potentially including automotive-related features drawn from the founder's own automotive club, Concours Club in Opa-locka.
Real Estate Trends in Edgewater
Recently, Edgewater has blossomed into a hotspot for residential developments. More than 2,000 apartments across seven buildings have been completed since 2020, with plans for an additional 2,300 units on the drawing board. This trend indicates growing demand and a vibrant market for housing in the area—factors that undoubtedly inform Trilogy’s approach to their upcoming project.
A New Standard for Amenities
What sets this development apart is Trilogy’s aspiration to innovate within Miami's market. The inclusion of unique amenities related to automotive interests presents an intriguing prospect for potential residents. As Mr. Gehani of Trilogy states, they plan to offer features "that haven’t been done in Miami," thus raising the bar for future developments.
Looking Ahead
As the real estate landscape in Florida continues to evolve, the expectations set by this project could serve as a benchmark for future developments in Miami. While many developers pursue projects under the Live Local Act to gain incentives such as increased height and density, Trilogy has decided to forge its own path. Their approach signifies confidence in the project’s marketability and community impact.
Stay informed on Florida's evolving housing market. As an interested home owner, you may want to consider how developments like Trilogy's may affect real estate in your area!
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