Procure Development Breaks Ground on $17M–$25M Waterfront Homes in Miami’s Bayside District

Key Points

• Procure Development has begun construction on Prescott Estates, a five home waterfront enclave in Miami’s Bayside District.
• The project spans 1.4 acres with 345 feet of open bay frontage along Biscayne Bay.
• Homes are priced between $17.2M and $24.85M, targeting ultra high net worth buyers.

What’s Happening

Construction is officially underway at Prescott Estates, a boutique, low-density waterfront residential project in one of Miami’s most supply-constrained bayfront pockets. The development will deliver five luxury single-family residences, combining new construction with the restoration of a historic estate. The site overlooks Biscayne Bay with direct views of Downtown Miami and Miami Beach, a key driver of pricing power at the top end of the market.

Inside the Project

Four of the homes are newly built contemporary waterfront residences ranging from roughly 4,700 to 7,600 square feet. Each is designed with direct bay access, private waterfront pools, and outdoor living areas oriented toward the water. The fifth residence, Villa Prescott, serves as the centerpiece of the enclave. Originally built in the 1920s, the Mediterranean Revival-style home is being preserved and modernized. Upon completion, it will total approximately 8,280 square feet with six bedrooms and seven and a half bathrooms, blending historic character with modern luxury. The five residences are branded individually as Villa Riva, Villa Vento, Villa Mare, Villa Nova, and Villa Prescott, reinforcing the project’s estate style positioning rather than a traditional subdivision.

Design and Team

Architecture is led by Ivan Kadey, working alongside Chris Fernandez, with landscape design by Raymond Jungles. Interior design is being handled by XID, led by Stephanie Harroch. Sales and marketing are being led by Chad Carroll of Compass, signaling a clear focus on the luxury buyer pool.

Why It Matters

Prescott Estates underscores continued demand for ultra luxury, low-density waterfront housing in Miami, where developable bayfront land is increasingly scarce. Unlike vertical condo development, projects like this cater to buyers seeking privacy, dockage, and long-term asset preservation. For nearby landlords and investors, the project reinforces Bayside District’s evolution into a high-value residential enclave, supporting long-term appreciation and scarcity-driven pricing