PMG has announced plans for the Delano Residences Miami, a supertall condominium tower set to rise 850 feet at 400 Biscayne Boulevard. The project, which will include 421 units across 90 stories, marks the first branded condo development for the Delano hotel name.
Ryan Shear of PMG said construction is expected to take about five years due to the complexity of building supertall structures. “That’s why development is true gambling,” he said. “We’re not pouring concrete today.” He also addressed concerns about market saturation, stating, “The metrics all make sense to us.”
Sales and marketing for the project will begin in March under PMG Residential, with unit prices starting at $800,000. The design team features Carlos Ott, Cube 3, and Meyer Davis for interiors. Residences will range from studios to three bedrooms. Planned amenities include a fitness center, pool and spa facilities as part of The Source by Delano wellness program, as well as a Delano Members’ Club and Delano Rose Bar.
PMG acquired the site in 2017 for $53.6 million after previously purchasing an adjacent site for its Waldorf Astoria project for $80 million. The original Delano hotel at 1685 Collins Avenue opened in 1947 and became well-known after a renovation by Philippe Starck in the mid-1990s. It closed during the pandemic in 2020 but is expected to reopen this year.
Ennismore, part of Accor and owner of the Delano brand along with Cain International’s Eldridge Industries, has plans to expand Delano properties to New York and London.
Hospitality branding continues to influence Miami’s condominium market growth and PMG’s activities in the region. In 2024, PMG secured a $668 million construction loan for its Waldorf Astoria supertall nearby; that project is scheduled for completion in 2028.
