Crescent Heights Adds Second Forma Tower With Office Space in Miami's Edgewater

Key Points

• Major Expansion: Additional 42-story tower to Forma, adding 360 luxury apartments to meet surging demand in Edgewater.
• Mixed-Use Boost: Includes 31,504 sq ft of office space, creating a vibrant live-work ecosystem.
• Proven Success: Builds on the first phase's 588-unit Forma Miami, recently refinanced for $238M, signaling strong investor confidence.

Crescent Heights is doubling down on Miami's booming Edgewater neighborhood with plans for Forma Suites, the second phase of its luxury high-rise development. This 42-story tower will add 360 upscale apartments and prime office space, capitalizing on the area's rapid growth and high rental yields.

Project Overview

Forma Suites, proposed adjacent to the existing 40-story Forma Miami at 2900 Biscayne Boulevard, continues the collaboration with Arquitectonica for architecture and Rockwell Group for interiors. The development features junior one-bedrooms to three-bedroom penthouses, with units ranging from 485 to 1,980 sq ft. Expect premium finishes like floor-to-ceiling windows, deep terraces, smart-home tech, and high-end appliances. Completion timelines aren't specified, but the project aligns with Edgewater's ongoing transformation into a premier urban hub.

Amenities and Lifestyle Integration

Drawing from the first phase's 85,000 sq ft of amenities, residents can anticipate resort-style offerings including skyline terraces, coworking spaces, fitness centers with golf simulators and pickleball courts, pools, spas, and direct access to Whole Foods Market. Additional perks like guest suites, pet spas, and a custom app for services enhance tenant retention—key for landlords seeking low vacancy rates. Tech features such as ultrafast WiFi and efficient elevators cater to Miami's affluent, wellness-focused renters.

Edgewater Market Dynamics

Edgewater has seen over 2,000 new apartments since 2020, with another 1,100 under construction and 2,300 proposed. Rental rates start around $3,360 for smaller units, with one-bedrooms fetching $2,700–$4,300 monthly in the first phase. The neighborhood's proximity to Wynwood, Design District, and Downtown Miami drives demand from professionals and investors alike, supported by recent refinancings and sales like Crescent Heights' HQ for $42M.

Why This Matters for Investors / Landlords

This expansion underscores Edgewater's potential for high ROI through premium rentals and property appreciation. With mixed-use elements boosting foot traffic and value, landlords can target long-term leases or short-term executive stays. The project's scale and amenities reduce turnover risks, while Miami's luxury market resilience offers hedge against broader economic shifts—ideal for diversifying portfolios.

In a competitive Miami landscape, Forma Suites positions savvy investors to capture Edgewater's upward trajectory, delivering stable cash flows and capital gains in one of the nation's hottest rental markets.