Construction crews have broken ground on Canal by IQ, a six-story, 34-unit condominium rising along the Oleta River in the West Aventura/Ojus pocket of northeast Miami-Dade County. The boutique building is set to pack studios through two-bedroom residences into compact floor plans of roughly 470 to 910 square feet, paired with riverside perks like a pool, fitness center and electric-vehicle charging. Developers Sagewood Corp. and IQ Concept Development are leading the project at 18550 NE 23rd Ct.
Project scope and pricing
Florida YIMBY reports that homes at Canal by IQ range from about 470 to 910 square feet and start around $463,000, with five of the 34 residences, roughly 15 percent, already presold at the time of reporting. The outlet also names N25 Architecture as the designer and Sagewood Corp. as general contractor on a project it pegs at about $19 million. County filings and a tentative plat confirm the six-story, 34-unit configuration and OUAD zoning for the NE 23rd Court site, according to Miami-Dade County records.
Design and amenities
Marketing materials pitch Canal by IQ as a waterfront, tech-forward option built around smaller-footprint units. Renderings and sales copy highlight canal-side lounges, a lakeside swimming pool, a canal-front deck with sauna and Jacuzzi, valet parking, a full fitness center and 24-hour security. The building is also promoted as having smart-home integration through an "IQ" concierge app, on-site EV charging and direct water access for paddleboards and kayaks. Those features and floor plans appear on the developer’s official site, which also lists contact details for the sales team.
Permitting and site history
Public survey and plat documents on file with the county show the property assembled from portions of neighboring parcels along the Oleta River, with existing improvements slated for demolition to clear the way for the new build. The survey attached to the tentative plat was completed in September 2023, and the paperwork cites warranty deeds recorded in January 2023 that are tied to the development entity, according to Miami-Dade County records. The plat also notes 28 parking spaces, including two handicap stalls, along with required flood-elevation criteria that guided the site planning.
Market context and listings
Brokerage listings and MLS entries show Canal by IQ units already marketed for resale or pre-sale, with visible one-bedroom asking prices in the mid-$600,000s and two-bedrooms above $800,000. That pricing positions the project as a boutique, riverfront alternative near Aventura Mall and the planned Brightline stop. Broker materials also call out flexible rental rules and optional furniture packages in some offerings, features that can appeal to investors and second-home buyers. Example listing details and agent contacts are available through a Compass listing.
Timeline and what’s next
Work has just started on the site as the developer moves through early construction stages. Florida YIMBY reports that Sagewood expects to deliver the project by late 2027. For the latest on schedule, pricing and buyer inquiries, the project’s sales platform lists phone and email contacts at Canal by IQ.
