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. 

Triptych Hotel Approved in Midtown

Triptych Hotel has been approved under the Miami 21 Zoning Code after submitting revisions to their original plans and scaling back the project. New plans show the project to rise 20 stories featuring 252 hotel rooms, 300 parking spaces, 38,000 SF of retail and 41,000 SF of office space. The hotel will be operated as a Hilton Curio Hotel. The hotel will be among the first in Midtown and will join HYDE Midtown when completed as the main hospitality options between Midtown and Design District. Triptych Hotel is being developed by HES Group and JQ Group.