LCOR Announces First Ground-Up Project in the South Florida Market
LCOR, a fully integrated real estate investment, development and management firm, today announced the acquisition of 1775 Biscayne Boulevard, a soon to be 40-story, 540-unit residential building located on the border of the A&E District and Edgewater neighborhood of Miami. While LCOR has been an active investor in the South Florida and broader Southeastern markets for over 10 years, this acquisition marks LCOR’s first ground-up development in the South Florida region, expanding the firm’s significant multifamily footprint along the east coast.
Construction at 1775 Biscayne is projected to begin in early 2024 and is slated for completion and delivery in 2026.
“Expanding our multifamily development business into Florida and the Southeast is a key component of LCOR’s strategic growth plan and we’re thrilled that 1775 Biscayne will be our first ground-up project in the region,” said Anthony Barsanti, Chief Executive Officer at LCOR. “As a global city center, Miami aligns well with our core strategy of developing and building within the east coast’s core urban markets.”
“Miami is one of the most desirable and culturally significant cities in the country” said Anthony Tortora, Senior Vice President at LCOR. “We’re looking forward to contributing to the Miami community and delivering one of our best-in-class projects to the area.
1775 Biscayne will feature approximately 540 residential units ranging from studios to two-bedroom residences that will be equipped with a myriad of premium features including stainless-steel appliances, in-unit washers and dryers and quartz countertops. Additional amenities to be offered at the property will include a fitness center, rooftop pool deck, an expansive outdoor terrace and grilling space with views of Biscayne Bay and downtown Miami, tenant lounges equipped with flexible co-working spaces and conference rooms, over 600 on-site parking spaces and package retrieval services. Additionally, Wi-Fi will be offered throughout the entirety of the property through Follow-Me Wi-Fi, ensuring devices remain connected regardless of positioning within the building as well as the option to create secure and privatized resident networks.
“We are thrilled to have played a role in helping LCOR secure their first development site in Miami, a highly competitive land market currently on the cusp of a transformational development surge,” said Brad Capas, Executive Director, Cushman & Wakefield Capital Markets. “Located at the center of one of Miami’s most exciting growth corridors, 1775 Biscayne will aid in producing critically needed residential offerings between the Miami World Center and Midtown districts.”
Located in Miami’s Arts and Entertainment District along Biscayne Bay, 1775 Biscayne offers multiple art, dining and nightlife options as well as access to the waterfront, nightlife and area amenities. Situated on Biscayne Boulevard, proximate to both mass transit and major Miami-Dade highways and thoroughfares, 1775 Biscayne provides quick access to South Beach, key employment centers and the greater South Florida region.
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