Swiss Developer Breaks Ground on $32M Luxury Rental ENSO in Miami's The Roads

Key Points:

• Empira Group has commenced construction on ENSO, an 85-unit Class A multifamily project in Miami's The Roads neighborhood.

• The development is backed by a $32 million construction loan from ABANCA USA, part of Spain's Grupo ABANCA.

• ENSO will feature upscale amenities, including a rooftop pool, fitness center, and ground-floor retail space. It is expected to be completed in 2027.

Empira Group, a Switzerland-based real estate investment manager, has officially opened ENSO, a boutique multifamily development in Miami's historic The Roads neighborhood. This eight-story project aims to blend modern luxury with mindful living and offer residents premium amenities and design features.​

Project Overview:

Located at 3025 SW 3rd Avenue, ENSO is set to become a landmark in The Roads, a neighborhood known for its tree-lined streets and proximity to downtown Miami. The development will comprise 85 rental units, ranging from one to three bedrooms. Ten of these units will be premium apartments featuring private terraces spanning 700 to 1,000 square feet.​

The building, designed by Revuelta Architecture, will include ground-floor retail space, enhancing the area's walkability and community engagement. OTJ Architects will handle the interior design, ensuring a cohesive, upscale aesthetic throughout the property.​

Financing and Development Team:

The project's $32 million construction financing was secured through ABANCA USA, a Spanish Grupo ABANCA subsidiary. Newmark played a pivotal role in arranging this financing, demonstrating confidence in the project's viability and the Miami rental market's strength.​

Jaxi Builders has been appointed as the general contractor, bringing experience and reliability to the construction process. Empira Group, with $10 billion in assets under management, continues to expand its U.S. portfolio, with ENSO marking its second project in Miami.​

Amenities and Lifestyle Features:

ENSO aims to offer residents a blend of luxury and convenience. Amenities will include:​

• A rooftop terrace with a resort-style pool, providing panoramic views of Biscayne Bay, Brickell, and Coconut Grove.

• A state-of-the-art fitness center with floor-to-ceiling windows.

• A dedicated yoga room for wellness-focused residents.

• Comfortable lounge spaces and a BBQ area for social gatherings.​

These features are designed to cater to Miami's growing population seeking upscale housing options in tranquil yet centrally located neighborhoods.​

Market Implications:

The initiation of ENSO's construction reflects a broader trend in Miami's real estate market, where demand for high-quality rental properties continues to rise. With its strategic location and charm, the Roads neighborhood is poised to benefit from such developments, potentially leading to increased property values and further investment in the area.​

Redefining The Roads:

Empira Group's ENSO project represents a significant addition to Miami's luxury rental market, combining thoughtful design, premium amenities, and strategic location. As construction progresses towards its anticipated 2027 completion, ENSO is set to redefine upscale living in The Roads neighborhood.