The $2 Billion Midtown Park Development Greenlit By Miami’s Urban Development Review Board

Key Points

• A $2 billion, two-phase master planned development will cover nearly five acres in Miami’s Midtown corridor, linking the Miami Design District and Wynwood Arts District.

• The first phase includes 288 residences in a 28-story tower, part of an overall plan with 924 units, 60,000 square feet of office space, and over 120,000 square feet of retail.

• Prices for the residences start in the low $600,000s, with penthouses up to $2.7 million. Completion is expected in 2028.

Rosso Development, Midtown Development, and Proper Hospitality have secured approval to transform a five-acre site in Midtown Miami into a major mixed-use destination. This project will introduce a mix of residential, office, and retail spaces alongside extensive amenities and public areas. This article explores the master plan, details of the first tower, and the implications for commercial real estate investors and landlords in Miami.

The Master Plan – A New Midtown Node

The development site, located around 3055 North Miami Avenue and 2901 Northeast 1st Avenue, is one of the largest undeveloped parcels remaining in Midtown. The approved plan includes approximately 924 residential units, 60,000 square feet of office space, and over 120,000 square feet of retail. The layout features two 28-story towers, two 17-story towers, and a low-rise retail building.

The project also includes two public plazas, pedestrian-friendly streets, and an eight-court ULTRA Padel club. A temporary two-acre padel pop-up will operate during construction to activate the site and build community engagement. The developers aim to create a highly walkable environment connecting the Wynwood and Design District neighborhoods.

For investors, Midtown Park represents one of Miami’s few large-scale, mixed-use opportunities positioned to capture strong demand for retail and residential space in a growing urban core.

Branded Residences by Proper Hospitality

The first phase, “Midtown Park Residences by Proper,” will feature a 28-story tower with 288 units ranging from studios to three-bedroom residences, plus penthouses. Arquitectonica is the architect, and Meyer Davis Studio is handling interior design.

Amenities will total over 40,000 square feet, including a pool deck with restaurant and bar, pickleball court, yoga and meditation garden, co-working areas, kids club, spa pool, and communal vegetable garden. Residents will have access to Proper Hospitality’s cultural and event programming.

Prices begin in the low $600,000s, with penthouses reaching approximately $2.7 million. Fortune Development Sales is the exclusive sales team, and completion is anticipated in 2028. For landlords and investors, the branded-residence model offers a hospitality-driven experience that can justify premium pricing and higher occupancy rates in both ownership and rental markets.

Strategic Implications for Investors and Landlords

Midtown Miami continues to emerge as one of the city’s most dynamic districts, connecting major retail, cultural, and residential areas. The scale of this development will bring critical mass to the neighborhood, supporting stronger retail leasing performance and office absorption.

Branded luxury residences remain a niche segment in Miami, providing differentiation and potentially stronger value retention. For retail and office landlords, Midtown Park’s activation of public spaces and pedestrian corridors will increase local foot traffic and tenant visibility.

While the project’s long timeline introduces typical construction and market risks, its location and design strategy suggest it will serve as a key anchor for Midtown’s next development cycle.

Midtown Miami Continues Evolution

Midtown Park’s $2 billion investment marks a significant step in Midtown Miami’s evolution, blending residential, office, and retail uses within a hospitality-branded environment. For real estate investors, it offers exposure to a prime growth corridor and a distinct branded product poised to attract high-end buyers and tenants once the first phase delivers in 2028.