Related Breaking Ground on Third Miami Condo Project, Millecento.

MIAMI — The Related Group breaks ground on 1100 Millecento Residences on Wednesday, a new condo project from visionary Jorge Perez. Millecento marks The Related Group’s third groundbreaking in the current cycle.

The 42-story tower will feature 382 residences at 1100 South Miami Avenue, steps from Mary Brickell Village and the upcoming 4 million-square-foot Brickell CitiCentre. Italian design firm Pininfarina, the name behind Ferrari, Maserati and Rolls-Royce designs, is designing the interiors. Carlos Ott architected the luxury condo tower.

“This is the perfect time in lieu of what is happening in Brickell, in particular with Brickell Citicentre breaking ground and starting construction just blocks away,” Carlos Rosso, president of Related Group’s Condo Division, tells GlobeSt.com.” Everything in the market has been rented out and there is a big demand for units in Brickell now.”

Millecento offers a long list of luxury amenities including an expansive ninth level amenities floor with a pool deck, fitness center and sauna, private theater and club room, and a roof-top infinity pool with private cabanas, beach club membership and more. Millecento is already 100% sold out.

“We are breaking ground with the building sold out, and buyers have already put 35% deposits down so we have no concerns whatsoever that the building will be finished, completed, and delivered on time,” Rosso says. “Financing is available right now for the finished product so there is no doubt that financing conditions will improve once the building is finished.”

The Millecento announcement follows Related’s MyBrickell condominium sales success. Related reports more than 80% of MyBrickell’s 192 residences sold, resulting in an accelerated groundbreaking, making it the first for the downtown area in over five years.

By Jennifer LeClaire
Globest.com