Terra, led by David Martin, and Major Food Group (MFG) have recently joined forces in the development of a luxurious waterfront condo tower in Miami's Edgewater neighborhood, called The Villa. The project, situated at 710 Northeast 29th Street, will feature approximately 50 units in a 649-foot-tall structure, originally known as 729 Edge.
The development team, including Louis Birdman, Kevin Venger, Michael Konig, and Alex Posth, received approval for this project about two years ago. Birdman and Venger, who were part of the development team for the Zaha Hadid-designed One Thousand Museum, are also part of One Thousand Group, co-developing this tower with Terra and MFG.
MFG, founded by Jeff Zalaznick, Mario Carbone, and Rich Torrisi, is set to brand and operate the restaurants, lounges, bars, and amenity spaces within the building. The ground floor will feature a waterfront restaurant, and the in-unit kitchens will be designed by Carbone, contributing to the overall project design. The Villa marks MFG's first involvement in a residential building, following a previous plan to brand a 90-story tower at 888 Brickell Avenue, which was eventually aborted.
Douglas Elliman has been assigned to lead the condo sales for the 58-story Edgewater tower. Full-floor units are expected to start at $8.5 million for a 6,200-square-foot condo. The building's amenities will include a rooftop helipad and a private dock. The Miami Urban Development Review Board approved the initial plans for the project, which included 13,000 square feet of retail space and 160 parking spaces. The architectural and interior design elements are being handled by ODP Architecture & Design and Charles & Co., respectively. A demolition permit has already been obtained for the existing structure at the site, with additional land acquired for the project’s parking garage.
In addition to The Villa, Terra has been actively involved in various developments across South Florida, including a proposed new luxury condo project in Miami Beach. Terra and AB Asset Management have also secured a loan for a luxury condo project in Coconut Grove, and in partnership with Russell Galbut, Terra is developing the Five Park condo tower at the entrance to South Beach.
MFG's expansion into branded luxury real estate mirrors a growing trend in Miami, where high-end branded residences like the Porsche Design Tower and Casa Armani Residences have become prominent. The concept extends beyond Miami, with similar branded residences in New York and other locations. MFG's initiative represents a strategic move to blend high-end dining experiences with luxury living, catering to a specific clientele focused on exclusivity and convenience.
Sign up for Florida of Tomorrow's free newsletter to receive the latest real estate and new business information shaping the Florida of Tomorrow below.
