A 45-story residential tower with 667 units is working its way through Miami's permitting process at 3333 Biscayne Boulevard in Edgewater, marking a dramatic pivot from the office-and-residential complex first pitched for the 2.91-acre site back in 2022. Site preparation and demolition are already underway across portions of the property, and a master construction permit detailing the first of three planned towers is currently under review.
The current master permit calls for a 45-story building with 667 residences, structured parking, and 7,408 square feet of ground-floor retail, according to Florida YIMBY. That single building already exceeds the 635 residential units planned across the entire site in the original 2022 proposal — a stark illustration of how far the project has shifted toward pure residential density. Applications for site preparation and foundation piling work, along with phased vertical construction filings, remain under review, and approval of those remaining filings will allow foundation activity and subsequent vertical construction to proceed.
From Office Tower to All-Residential Play
The 2022 proposal, designed by Stantec, called for three buildings rising 41, 40, and 12 stories, including two residential towers and a separate 156,989-square-foot office building alongside 19,180 square feet of commercial space and 1,210 parking spaces, per the same Florida YIMBY report. Miami's Urban Development Review Board recommended approval of that three-tower concept in November 2022, according to Miami Today. The current master permit does not list that substantial office component, and it does not yet include comparable program details for the remaining two buildings in the assemblage.
Renderings for the project depict three rectilinear residential towers rising from a broad multi-story podium that supports landscaped amenity terraces and pool decks, the Florida YIMBY report notes. The towers are designed with continuous balcony slabs and glazing recessed behind the slab edges. John Moriarty & Associates is serving as general contractor for the first tower, and demolition and tree removal permits have already been approved for the site.
Cranes, Timelines, and a Reshuffled Ownership Structure
FAA filings include four crane applications for the site, with temporary crane filings requesting heights of up to 603 feet and tower crane filings requesting heights up to 644 feet. Crane filings identify an anticipated operating period running from December 1, 2026 through July 31, 2028, according to Florida YIMBY's review of the permit filings.
Brooklyn-based Beitel Group, which plans to redevelop the site, originally acquired the roughly 2.80-acre assemblage for $45 million in 2022 in a joint venture with Denver REIT Aimco, according to Commercial Observer. Aimco separately purchased a roughly 0.126-acre corner parcel at 440 NE 34th Street for $1.7 million that same year, bringing total site acquisitions to $46.7 million. The financing behind that original purchase included a $40.9 million loan from Northwind Group that carried a future funding facility for acquiring air rights from adjacent properties.
Beitel Group's 2022 purchase marked the firm's initial entry into the South Florida development market. In October 2024, Aimco agreed to sell its joint-venture equity stake in the site to Beitel Group for $13.8 million in an all-cash deal that valued the assemblage at $66.5 million, consolidating full ownership under Beitel ahead of the current permit push. Before that consolidation, Aimco had shifted its capital toward the adjacent parcel at 640 NE 34th Street, where it broke ground in late 2024 on Hamilton House, a $240 million ultra-luxury residential tower targeting initial occupancy in mid-2027 — a project Hoodline covered when Hamilton House topped out earlier this year.
A Block Under Intense Institutional Pressure
The 3333 Biscayne site's neighbors underline just how much capital is chasing this stretch of Northeast 34th Street. In December 2024, Aimco sold the neighboring 28-story, 276-unit Hamilton on the Bay apartment tower at 555 NE 34th Street to Kushner Companies for $190 million, per Commercial Observer's reporting. Under Miami 21 zoning, the 3333 Biscayne assemblage carries a T6-36O designation, which permits up to 36 stories as-of-right and as many as 60 stories with public benefit density bonuses.
Before the current towers were even proposed, the 11-parcel assemblage was held by Miami Sunrise Properties LLC, controlled by Brazilian aviation executive Jose Afonso Assumpção, which had acquired the properties for $31.5 million prior to the 2022 sale. The site once held 54 residential units and a commercial building occupied by a Wendy's restaurant before site preparation and demolition cleared the way for the current project.
The transformation at 3333 Biscayne fits a broader pattern across Edgewater, where developers spent more than $500 million on property acquisitions between late 2020 and mid-2022, building a construction pipeline of nearly 6,000 apartments and condominiums, according to The Real Deal. That surge has reshaped nearby blocks of Biscayne Boulevard, where projects like Melo Group's twin-tower filings at 1825 Biscayne and LCOR's 42-story tower at 1775 Biscayne are rising alongside 3333 Biscayne's own reboot.
