MIAMI | 1775 Biscayne | FT | 42 FLOORS

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Pennsylvania Developer Announces Plans To Build 540 Apartments At V Downtown Site, Groundbreaking Early 2024

Downtown Miami’s 1775 Biscayne property has been sold to a Pennsylvania developer, and a redesign of the tower is planned, according to the SFBJ.

LCOR, which is based in the Philadelphia area, paid $49 million for the 1.08-acre site. The sale closed on May 26.

The developer is now preparing plans for a new tower on the site, LCOR said in a statement.

LCOR’s new tower will rise 40 stories and include:

540 apartments
Co-working and amenity spaces
14,000 square feet of retail
600+ parking spaces
Groundbreaking is planned in early 2024, with completion in 2026.

Previous plans from 2017 for a project called V Tower on the site included a 53-story, 633-foot tower with 444 residential units, 200 hotel rooms, 45,600 square feet of retail/restaurant, 64,800 square feet of office, and 546 parking spaces.

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NXT