Blue Road & Ilia Launch Sales of The William in North Miami Beach

Key Points

• The William is a planned 26-story, 374-unit condo tower at 2040 NE 163rd Street in North Miami Beach.

• Studios start in the high $300,000s, with unit sizes ranging from 552 to 1,412 square feet.

• Developers are targeting a mid-2026 construction start with a three-year timeline and plan to use EB-5 investment capital.

Blue Road and Ilia Double Down in North Miami Beach

Blue Road and Ilia Development Group have officially launched sales for The William, a new condo development aimed at reshaping the residential landscape in North Miami Beach. The project introduces 374 for-sale units at a price point starting in the high $300,000s, appealing to end-users and traditional investors rather than short-term rental buyers.

The developers, who acquired the 1.1-acre site in 2022 for $7.5 million, plan to demolish the existing medical office building to make way for the new tower. With no short-term rentals allowed, The William is designed as a long-term residential community.

Product, Pricing, and Design

The unit mix includes studios, one-, two-, and three-bedroom layouts ranging from 552 to 1,412 square feet. Pricing will start around $380,000 and top out above $1 million.

The building will feature over 40,000 square feet of amenities. These include a pool deck, co-working space, spa rooms, outdoor kitchens, a pickleball court, pet spa, and on-site café. The project is being designed by Carlos Ott and Behar Font & Partners, with interiors by Urban Robot.

The developers have enlisted Fortune International Group to lead sales and marketing.

Financing Structure and Development Timeline

Blue Road and Ilia plan to leverage EB-5 financing to support the capital stack, a move increasingly common among South Florida developers. The minimum required investment per EB-5 participant is $1.05 million.

Construction is slated to begin in mid-2026 and is expected to take approximately three years to complete.

The Bigger Picture: Development Surge in North Miami Beach

The William adds to a growing pipeline of North Miami Beach developments. Blue Road is also developing Nexo Residences nearby, a short-term rental-friendly condo tower with 254 units that recently secured a $73.3 million construction loan. Unlike Nexo, The William prohibits short-term leasing, indicating a more stable, end-user-focused strategy.

Elsewhere in the submarket, Dezer Development is planning Uptown Harbour, a large-scale mixed-use development on the 29-acre Intracoastal Mall site.

Investor Outlook

The William presents a more traditional condo offering at accessible pricing, positioning it to appeal to both local buyers and international investors seeking a permanent or seasonal residence. The restriction on short-term rentals sets it apart from many other new Miami-area projects, indicating a longer-term investment profile.

With strong amenity programming and proximity to a maturing development corridor, The William could help anchor a more residential future for this stretch of North Miami Beach.