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Fashion houses dip into Miami residential market

by Kelly McCabe

Miami’s reputation as a hot fashion city has been growing in recent years, with a number of well-known designers calling it home as well as the 2016 launch of the Miami Fashion Institute at Miami Dade College. But outside of the runways and high-end boutiques, some designers have set their sights on a surprising arena: residential developments.

Besides Miami’s primo oceanfront location, a reason designer developments are trending in the city may be that sales of luxury homes in the city are lagging. In order to stand out in the sea of pricey condos, some developers are turning to the big names in fashion to make their projects truly stand out.

While slapping their name on a luxury building may not seem glamorous for designers whose job it is to design and outfit some of the world’s biggest celebrities, oftentimes they have complete control of the interior design of the developments, and it can present a chance to showcase their furniture design.

Miami’s waterfront location makes it a beacon for designers who want to expand their footprint in the United States, so residential towers bearing their names are popping up along the ocean.

Among them is Armani, which recently designed the 56-story, 308-unit Armani/Casa tower in Sunny Isles Beach. Though the building won’t open until 2019, a 2016 Miami Herald story reported that the units were selling for an average of $3.5 million, with the development itself costing nearly $1 billion in total.

At Armani/Casa tower, there’s no shortage of amenities, including infinity pools, a private oceanfront restaurant and bar, private cigar lounge, state-of-the-art fitness center, movie theater, wine cellar and more.

Armani/Casa is the designer’s first residential project in the United States, but the house has developments around the world, including in Dubai, Milan, Mumbai and Manila.

Other designers jumping into Miami’s fashion/residential scene include:

  • Fendi with the 12-story Chateau Residences near Bal Harbour, where the grounds are dotted with gardens, cypress trees, ponds, pools and cabanas to transform residents of the 58 units;
  • Missoni’s 57-story Baia tower in Edgewater, between Biscayne Bay and the city’s design district; and
  • Karl Lagerfeld with The Estates at Acqualina, a pair of 50-story towers with amenities like an ice rink and a traders’ room.

 

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