Developers David Martin and Russell Galbut recently broke ground on a new residential tower in Miami Beach. Five Park, a development located in 500 Alton Road obtained financing at the beginning of the year. Currently, construction is underway for the three-acre city park in the 600 and 700 blocks of Alton Road. This is going to be a very exciting project.
The residential tower in Miami Beach will feature 48 stories of pure luxury. It will have about 280 residential units featuring two, three, and four bedroom residences and penthouses. In addition, the designer of the tower is Arquitectonica, and will feature interiors by Gabellini Sheppard. Five Park will measure 519 feet, becoming the tallest building in Miami Beach upon its completion.
Furthermore, Five Park will feature incredible amenities for its residents. For example, the tower will feature a deck with two swimming pools, sunset viewing lounges, and a restaurant. In addition, it will also feature a spa, a fitness center, a gourmet cafe, a Sky Club lounge, a private dining room, and much more.
In addition to the tower and public park, the final phase of the development features another exciting addition to the Miami Beach community. That is, the installation of a pedestrian bridge across 5th street. The designer for this is artist Daniel Buren. This will not only bring more beauty to the area, but also convenience for all Miami Beach residents.
Allegedly, completion fo the tower will be in 2023. Construction is being funded through a $345 million loan. As for the bridge, construction will begin in 2022.
Read more: https://www.remiamibeach.com/south-beach/financing-obtained-residential-tower-at-500-alton-to-begin-construction/