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Miami developers Ugo Colombo of CMC Group and Valerio Morabito of Morabito Properties say they have broken ground on Onda, a new boutique luxury condominium in Miami’s Bay Harbor Islands neighborhood.
Designed by architect Bernardo Fort-Brescia of Arquitectonica, the 8-story waterfront development at 1135 103rd Street, will include more than 300 linear feet of bay frontage and a private marina. Construction is expected to be completed in 2023.
“News of Onda’s groundbreaking comes as the next wave of residential development in Miami takes hold, fueled by an uptick in demand from domestic buyers looking to relocate from major U.S. cities who are attracted to Florida’s desirable quality of life, lower business and living expenses, and tax-friendly policies,” the developers said in a Nov. 4 statement.
Prices of the condo units range from $1.8 million to more than $9.5 million.
“We set out to create an ultra-luxurious intimate building with a handful of units and residents in one of the nicest waterfront communities in South Florida,” said CMC Group founder Ugo Colombo. “Onda’s boutique exclusivity, commanding bay views, and top-quality finishes and materials will brand it as a standout property for a long time to come.”
Colombo and Morabito say they have previously partnered in 2016 to lead the development of Beach House 8, a nearby waterfront condo building on Collins Avenue in Miami Beach. Most recently, Colombo and CMC Group delivered Brickell Flatiron, a 64-story tower in Downtown Miami’s Brickell Financial District.