Magellan Launches Leasing of Gio Midtown Apartments

Chicago-based Magellan Development Group, investor Alex Vadia and J.P. Morgan Asset Management have launched pre-leasing of their 447 apartment rentals in the nearly-completed Gio Midtown. The building is slated for competition mid quarter and will feature units ranging from 386 to 1,919 square feet. A studio will start at about $1,585 a month, one-bedroom at $1,775 a month, two-bedroom at $2,775 a month, and a three-bedroom at $3,790 a month.

The apartments feature luxury finishes like quartz countertops, kitchen islands, keyless entry, blackout shades, and sprawling terraces to promote natural light and expansive city views. Wellness enthusiasts have access to a 4,741-square-foot fitness club, a spa which includes a Himalayan salt room, sauna and steam rooms, and a meditation garden on the amenities floor.

Residents will enjoy high-touch concierge services and access to everyday conveniences. Bozzuto is managing the property.

Inspired by Italian Modernism, the project’s namesake derives from Italy’s Gio Ponti, an influential figure recognized for his architecture, furniture and object design. Celebrating Ponti’s elegant aesthetic, the façade highlights geometric, angled balconies. The building was designed by bKL Architecture LLC with contemporary interiors by Fanny Haim & Associates.

Eco-friendly renters will appreciate a bike workshop and wash station, as well as electric car chargers. A passageway at the ground level allows for meandering by locals and residents alike, with planned retail, restaurants, and activations. 

By Stephanie Warren

Midtown Continues to Expand as Magellan Development Closes on $110 Million Construction Loan for Midtown 6

Midtown Miami is continuing to expand as Magellan Development Group and an entity linked to Alex Vadia has closed on a $110 million construction loan for the proposed rental tower. The project, which is now ready to break ground, will rise 32 stories and was designed by BKL Architecture. Midtown 6 will feature 447 rental apartment units, 601 parking spaces and 40,000 SF of ground floor retail. Magellan also devleoped Midtown 5 which opened earlier this year as well as has proposed Midtown 7. 

Magellan Development Releases Plans for Midtown 6 and Midtown 7

Plans for Midtown 6 and 7 have been revealed and Magellan Development looks to expand on their Midtown exposure. Midtown 6 and Midtown 7 will be a pair of 32-story towers located adjacent to Midtown 5 at 3001 ND 3101 NE 1ST Ave. Midtown 6 will feature 447 residential apartment units and 39,718 SF of retail with 601 parking spaces. Midtown 7 features 391 residential apartment units with 30,709 SF of retail and 505 parking spaces. Midtown 6 is expected to break ground in the summer of 2017 while Midtown 7 is on a "wait and see" approach as the developer aims to build and deliver based on demand. The buildings will be designed by BKL Architecture and will be reviewed by Miami's Urban Development Review Board later this month. Magellan is building Midtown 5 next door and is nearing completion.