The tower of glass boxes rising in Miami – the Waldorf Astoria Hotel & Residences – has reached another milestone in its historic construction.
National developer Property Markets Group (PMG) has announced that the gleaming stack of cubes has reached the half-way point of its rise downtown.
In an email to Miami Today last week, PMG offered details of the status of the sweeping mixed-use residential tower rising at 300 Biscayne Blvd.
It states, “Waldorf Astoria Hotel & Residences Miami has successfully poured 50, or half, of its 100 floors and is rapidly progressing with an average of pouring one floor every 10 days.”
The high-profile site is at the northwest corner of Biscayne Boulevard and Northeast Third Street, directly across from Bayfront Park.
Official groundbreaking was in October 2022.
“The architecturally awe-inspiring tower will feature nine spiraling, offset glass cubes designed to be evenly stacked and wrapped in a distinctive ‘glass skin,’ setting it apart from any other building on the East Coast,” wrote a representative for the development partnership.
“With the completion of the 50th floor, four of the tower’s signature glass cubes now rise above the Miami skyline, offering a first glimpse of the iconic silhouette taking shape,” the email said.
Funding for the iconic skyscraper came in the summer of 2024 when PMG, along with partners Canadian private equity firm Greybrook, global investment company Mohari Hospitality, S2 Development, and global hospitality company Hilton secured a $668 million loan for the project.
PMG said it was the largest construction loan for a residential condominium development in Florida’s history, provided by Bank OZK and Related Fund Management.
Waldorf Astoria Hotel & Residences Miami will rise 100 stories and 1,049 feet above Biscayne Bay, marking Miami’s first supertall tower and the tallest residential building south of New York City, say the developers.
This also marks the debut of one of the world’s most iconic hospitality brands, Waldorf Astoria, in the Miami market, they said.
The property is over 90% sold, with limited availability in the Sky and Penthouse Collection.
The tower will become home to 360 private residences and 205 guest rooms, offering 360-degree views of Downtown Miami, Miami Beach and the Atlantic Ocean, they said.
The tower’s concept design was led by Sieger Suarez Architects, in collaboration with architect Carlos Ott and interior design firm BAMO.
Private residential amenities are to include an owners-only lobby and lounge; hospitality suite for chef’s tastings and intimate soirees; billiard room; kids’ club; and elevated pool deck.
Each residence is to include smart-home technology with custom mobile app access to concierge services.
The private roof deck is to feature a pool, swim-up tiki bar, outdoor gym and courts for basketball, racquetball and pickleball.
Completion is targeted for 2028.
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