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LCOR has announced its first ground-up Florida development, a 42-story residential tower

LCOR, a developer headquartered in New York, has unveiled its blueprint for a high-rise residential building in Miami's Arts & Entertainment District. Located at 1775 Biscayne Blvd, the proposed 42-story tower will sit on a 1.08-acre plot. The development is set to feature 544 residential units, 628 parking spots, and 10,000 square feet dedicated to ground-level retail spaces.


LCOR has announced its first ground-up Florida development, a 42-story residential tower

The residential units will vary in size, starting from 500-square-foot studios and extending up to 1,500-square-foot three-bedroom apartments. Additionally, the project will offer 50,000 square feet of amenity spaces, encompassing a pool deck, fitness center, lounge, coworking areas, and a gaming zone.


LCOR acquired the land for $49 million in 2022. The site is strategically located, adjacent to Publix Super Markets on its east and in close proximity to Opera Tower, Aria on the Bay condo, and Margaret Pace Park on its west side.



This venture marks LCOR's inaugural ground-up development in Florida, although the company has previously invested in existing apartment complexes within the state. Anthony Tortora, Senior VP and Principal at LCOR, expressed that the 1775 Biscayne project is a pivotal step in the company's expansion into Florida and aims to meet the diverse needs of the community.


The architectural design for 1775 Biscayne has been crafted by Hollywood-based ODP Architects. The project's interior design is being led by KAS, under the guidance of Karen Aspera. The development is scheduled for review by the city's Urban Development Review Board and aims to commence construction in the second quarter of 2024.



The Miami real estate landscape has seen a surge in multifamily developments in recent times, driven by an influx of new residents. However, challenges have arisen this year due to rising interest rates and escalating costs in construction and insurance, posing hurdles for developers in advancing certain projects.




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