PMG, Lion & LNDMRK Break Ground on ONE W12, a 372-Unit Luxury Condominium Project in Downtown Miami

Key Points:

• ONE W12, the new 372-unit project by Property Markets Group (PMG), Lion Development Group and LNDMRK Development is now under construction in the historic Overtown/Park West area of Downtown Miami and scheduled for completion in 2028.
• The residences are 97 percent sold pre-groundbreaking, showing strong investor demand.
• The project includes full-furnish finish, short-term-rental flexibility, and a signature restaurant by chef Marcus Samuelsson, appealing to both owner-occupants and investors.

The joint venture between PMG, Lion and LNDMRK has broken ground on One West Twelve Residences (ONE W12) in downtown Miami’s historic Overtown/Park West corridor. The majority of units have already sold, it signals confidence in the area’s next growth phase. The project mixes flexible ownership options, luxury design, and prime positioning for investors. 

Project Overview

ONE W12 will feature 372 bespoke residences—from furnished studios and one-bedroom units to limited townhomes—across 23 floors designed by CUBE 3. The developer team includes PMG, Lion Development Group, and LNDMRK Development. The property sits at 1129 NW 1st Court in Miami’s Park West/Overtown area, with completion planned for 2028. Units are fully furnished with Miele appliances, Italkraft cabinetry, and custom lighting. Amenities include a rooftop pool and lounge, art installations, a state-of-the-art fitness center, smart-building tech, and cruiser bikes with storage.

Pricing reportedly starts in the mid-$500Ks, with unit sizes ranging from about 287 sq ft to 547 sq ft. Each residence is short-term-rental-friendly, allowing owners to use platforms like Airbnb or VRBO for flexible income generation.

Location & Market Advantage

Overtown and Park West are seeing accelerated redevelopment, drawing attention from both residents and investors. ONE W12’s location near MiamiCentral Station and the Arts & Entertainment District adds transportation and lifestyle convenience. Its mix of luxury amenities and short-term rental options aligns with Miami’s thriving tourism-driven rental market. The project’s 97 percent pre-sale rate reflects strong demand and belief in the neighborhood’s future.

Investor & Landlord Implications

• Pre-sale strength: High absorption before completion suggests long-term value growth.
• Rental flexibility: Short-term rental approval supports hybrid investment strategies.
• Turnkey model: Fully furnished design minimizes landlord setup costs and accelerates leasing.
• Delivery timeline: Completion in 2028 means a longer runway before returns begin.
• Neighborhood upside: Overtown’s ongoing transformation brings appreciation potential but still carries some transition risk.

Continued Expansion of Downtown Miami

ONE W12 stands out as a luxury-forward, investor-friendly project with strong pre-sales, rental flexibility, and a central Miami address. For landlords and brokers seeking a balance of appreciation and income potential, it’s a development to watch as downtown Miami continues to expand upward and outward.