Ross’s Comments – What you Need to Know about Quantum on the Bay
This southeastern corner of Edgewater has come a long way in just a few years and is now a very desirable location for local residents with even a new Publix shopping center within two blocks on Biscayne Boulevard.
Both Quantum and 1800 Club sit directly opposite Margaret Pace Park, an 8 acres city park that is dog friendly, located directly on Biscayne Bay, and is a major cornerstone of this community.
Quantum consists of 2 adjacent towers each with 44 or 51 floors and over 700 lofts or flats units.
The position that each tower sits on the site facing each other makes it challenging to find a unit with an open or water view (lines 01, 02, 12 and 15 have the most desirable open water views).
On the main amenity deck (12th floor) there is an east and west pool, which unfortunately, receive minimal sunlight during both summer and winter months.
Recently, the Quantum homeowner association filed a lawsuit against the original developer for construction defects, in particular, issues associated with flooding.
BUILDING QUALITY +
RENT FRIENDLY +
DESIGN & EFFICIENCY +
PET FRIENDLY +
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UNIT SIZES 651 – 2,234 sq. ft (61 – 208 m²)
UNIT TYPES 1, 2 and 3 bedrooms
# OF UNITS 706
# OF FLOORS 51
# OF PARKING LEVELS 10
ARCHITECT Nicols, Brosch, Sandoval and Associates
DEVELOPER Terra Group
PET POLICY Pets allowed subject to other restrictions.
24-Hour Concierge, Valet and Security
Billiards, party and event rooms
Fitness center with sauna rooms
MIDTOWN / EDGEWATER
The trendy areas of Edgewater, Midtown Miami, Wynwood Arts District and the Miami Design District, have quickly emerged as the next center of cultural, arts, commercial and residential growth just outside of the Downtown Miami district.
Major construction is already underway to further transform the Miami Design District into a destination for fashion, design and culture. In 2014, luxury fashion brands such as Givenchy, Miu Miu, Tom Ford, Fendi, and Dolce & Gabbana among others, will be opening in the Design District. The new development will also include buildings by renowned architects Sou Fujimoto, Aranda/Lasch, Iwamoto Scott and Leong Leong.
In what used to be the manufacturing district of Miami, over the past few years local developers have rehabilitated warehouses and other unused buildings into the Wynwood Arts District. Today, Wynwood consists of numerous art complexes, galleries, performing art spaces, restaurants and cafes.
Due to its strategic location and availability of waterfront property, Edgewater is currently realizing the largest growth of these submarket areas with over 2,600 new residential units under construction. According to a study released by the Miami DDA, this is a 67 percent increase over the current size of the market. This, combined with the development opportunities surrounding the Arsht Center for Performing Arts, present the most potential for long-term growth in the Greater Downtown Miami Market.
Based on the historical absorption of new residential units (since 2001) and the anticipated annual delivery of new units, we expect that there will still be considerable residual pent-up demand for new construction condos in the area over the next four or five years.