William Ticona’s Grupo T&C won approval for his planned Edge House Miami, a short-term rental-friendly project in Edgewater.
The City of Miami’s Urban Development Review Board greenlit the Kobi Karp-designed tower, according to a press release. Lima, Peru-based Grupo T&C’s 56-story, 608-unit project is planned for the 0.6-acre site at 1825 Northeast 4th Avenue, formerly 1837 Northeast 4th Avenue.
Records show an affiliate of Grupo T&C bought the site for an undisclosed price in 2012.
Units will range from studios to three bedrooms, from 410 square feet to 1,200 square feet, and come fully furnished and designed by interiors firm Adriana Hoyos Design Studio, the release states. Amenities in the building will include a fitness center, spa facilities, two pools, co-working spaces, a podcast studio, a garden, playground and putting green. Ticona tapped Douglas Elliman Development Marketing to lead sales for the project, and prices start at $500,000. Construction is expected to finish in 2028, a spokesperson confirmed.
Edge House marks the latest addition to a stacked pipeline of short-term rental projects in Miami-Dade County, where such projects make up half of all planned residential projects. Ticona is also a newcomer in the ultra-competitive Edgewater neighborhood, where thousands of condo units are in the works. But he may have found a sweet spot.
“In Edgewater, I don’t know anyone else who is doing short-term rentals,” Cervera Real Estate commercial broker Francesco Canestri told TRD last year. “What William [Ticona] is offering is something no one on the south end of the neighborhood is offering. That is the strategy.”
In an interview last year, Ticona said he wanted to be where the competition was.
“Edgewater is a very hot zone,” he said. “Where our competitors are is where our customers are. We want to be in areas that have the most development.”
Last year, he bought another residential development site in the neighborhood for $15.1 million. The property is zoned for a 36-story tower with either 124 units or 248 hotel rooms.
