Landmark 80-Story Mixed-Use Tower Set to Transform Miami's Brickell Skyline
Revolutionary Wellness-Focused Tower Planned for Miami's Premier Financial District
In a significant development for Miami's luxury real estate market, Prosper Group, led by Jay Roberts, has formed a strategic partnership with Forte Development to construct an ambitious 80-story mixed-use condominium tower in the heart of Brickell. The developers have initiated the process by submitting a pre-application under Miami-Dade County's rapid transit zoning (RTZ) program for the property located at 1040 South Miami Avenue, just a block from the Brickell Metromover station.
The proposed structure will stand at an impressive 945 feet, making it one of the tallest residential buildings in Miami upon completion. According to exclusive information obtained from industry sources, the development will feature a diverse mix of residential and hospitality components, including 250 traditional condominiums, 48 condo-hotel units, and 100 luxury hotel rooms.
"This project represents more than just another skyscraper in Miami's evolving skyline," commented a real estate analyst familiar with the development. "The integration of wellness amenities and branded residences signals a significant shift in what luxury buyers are demanding in today's market."
From Virgin Hotel to Wellness Haven: The Evolution of a Prime Brickell Location
The 0.6-acre property at 1040 South Miami Avenue has an interesting history. Previously, the site was earmarked for development as a Virgin Hotel with co-living spaces, a project spearheaded by Richard Branson's Virgin Hotels in collaboration with Blue Jay Capital. However, those plans never materialized.
In a strategic move that demonstrates confidence in Miami's luxury real estate market, Roberts signed a contract for the property in mid-2024. According to industry sources, the partnership between Prosper Group and Forte Development is scheduled to finalize the acquisition next year for approximately $40 million.
Marius Fortelni, founder and CEO of Forte Development, brings significant expertise to the partnership. The collaboration marks a noteworthy union of vision and execution capabilities in the competitive Miami development landscape.
Architectural Excellence and Branded Luxury Define New Project
Hollywood-based ODP Architecture & Design has been tapped as the architectural firm for this landmark project. The tower's design will incorporate approximately 1,900 square feet of restaurant space, further enhancing the mixed-use appeal of the development.
The developers have confirmed that the tower will carry a premium brand, though specifics about the branding partner have yet to be disclosed. Industry experts speculate that the branding could be related to the wellness focus of the project, potentially aligning with a luxury hospitality or lifestyle brand known for exceptional health and wellness offerings.
"The integration of branded residences with hotel operations creates a unique value proposition for buyers," noted a luxury real estate consultant. "Residents benefit from hotel-style amenities and services while maintaining the privacy and investment potential of condominium ownership."
Wellness Revolution: Miami's First Health-Centered Luxury Tower
Perhaps the most distinctive aspect of this development is its unprecedented focus on health and wellness. "The vision is to build the healthiest building in Miami," Roberts stated earlier this year, signaling a departure from traditional luxury developments that typically emphasize aesthetics and location above all else.
The wellness amenities planned for the tower include cutting-edge offerings such as on-demand IV infusions, cold plunges, red light therapy, and infrared saunas. A state-of-the-art fitness facility will complement these innovative wellness features, creating what developers describe as a "comprehensive health ecosystem" within the residential tower.
This wellness-centered approach aligns with post-pandemic consumer preferences, where health considerations have become paramount in housing decisions. Market analysis indicates that properties with significant wellness amenities command premium prices and experience faster appreciation compared to traditional luxury developments.
Strategic Expansion in South Florida's Competitive Development Landscape
For Miami Beach-based Prosper Group, this Brickell project represents their inaugural development in South Florida, marking a significant milestone in the company's growth strategy. However, the firm is not new to ambitious projects, currently co-developing the $600 million Ora Hotel and Residences in Tampa, another luxury condo-hotel concept.
The property records identify FX South Miami LLC as the current owner of the Brickell site. The sale is being facilitated by Jeffrey Rodriguez from Adams Gallinar law firm and Coldwell Banker real estate agent Evon Gordon representing the seller, while Jonathan Cohen of Siegfried Rivera provides legal representation for Prosper in the transaction.
Prosper Group's expansion extends beyond this Brickell project. In October 2024, the company acquired properties in North Bay Village adjacent to the planned Continuum Club development site and the former Shuckers location, which the Eichner firm purchased last summer with redevelopment intentions.
Furthermore, Prosper has entered into a contract to purchase a one-acre property along the Miami River at 66 Southwest Sixth Street and 625 Southwest First Avenue. This parcel is being sold by developer Harvey Hernandez and Two Roads Development as part of their larger assemblage.
Insights: What Industry Experts Are Saying
Will the RTZ zoning significantly impact the project's density and height?
The Rapid Transit Zoning (RTZ) program can indeed provide substantial density bonuses for developments located near transit stations. For this particular project, the proximity to the Brickell Metromover station allows the developers to potentially increase the buildable square footage by up to 30% compared to standard zoning regulations. This translates to more units and amenity spaces, enhancing the project's economic viability and market appeal.
How does this project compare to other luxury developments in Brickell?
While Brickell has seen numerous luxury developments in recent years, this 80-story tower distinguishes itself through its wellness focus and mixed-use approach. Most competing developments offer standard luxury amenities, but few have committed to creating a comprehensive wellness ecosystem with medical-grade offerings like IV therapies and red light treatments. Additionally, the triple combination of traditional condos, condo-hotel units, and hotel rooms provides flexibility not commonly found in singular-use buildings.
What impact might this development have on Brickell property values?
Real estate economists suggest that signature high-rises like this one typically create a "halo effect" on surrounding properties, potentially increasing values within a quarter-mile radius by 5-8% upon completion. The branded nature of the development, coupled with its wellness orientation, may amplify this effect, particularly for properties targeting similar demographic segments.
When might construction begin, and what is the estimated completion timeline?
Based on typical development timelines for projects of this scale in Miami, and accounting for the current pre-application status, groundbreaking could occur in late 2025 or early 2026, with completion projected for 2029-2030. However, this timeline remains subject to permitting processes, market conditions, and potential supply chain considerations affecting the construction industry.
How does the wellness focus reflect changing buyer preferences in luxury real estate?
The emphasis on health amenities represents a significant shift in luxury real estate preferences accelerated by the pandemic. Today's high-net-worth buyers increasingly prioritize wellness infrastructure that supports their physical and mental wellbeing. Recent market surveys indicate that up to 73% of luxury buyers are willing to pay a premium of 10-15% for residences with comprehensive wellness amenities compared to those with traditional luxury features alone.
