Just days after PROFILEmiami reported that the Toronto-based Greybrook Realty Partners had invested $32.2 million to fund the acquisition of 400 Biscayne Boulevard, the developer has released initial renderings for the project. Greybrook Realty Partners will develop 400 Biscayne in partnership with Property Markets Group, PMG. The developers plan to build 690 residential rental units which will be targeted at millennials and students of Miami-Dade College, with an additional 20,000 SF of commercial space. The residential tower will also feature keyless entry and other smart-home technology, a co-working space with an integrated library and business center, restaurants and retail shops, Wi-Fi access throughout the building, an a fitness center with a swimming pool, spa and yoga studio. 400 Biscayne is located adjacent to Bayside Marketplace, Bayfront Park, Miami WorldCenter and American Airlines Arena. With the completion of MiamiCentral, residents will have easy access to public transit, including the Brightline intercity rail system and MetroMover.
“We are thrilled to partner once again with PMG on our third investment offering in the South Florida market,” states Peter Politis, CEO of Greybrook Realty Partners. “The region is experiencing a shortage of high-quality rental inventory as supply is unable to meet the growing demand for rental accommodation. We believe that 400 Biscayne will provide an attractive rental offering featuring luxury amenities and efficient floorplans that are well-suited to millennials and students of the nearby Miami Dade College (which does not provide housing facilities for local or international students due to lack of available land nearby).”
