Midtown Park Residences is the first residential tower in Midtown Park, a $2 billion, five-acre mixed-use project that will connect Miami’s Midtown, Wynwood and Design District.

The twin condo towers, LOFTY Brickell and The Standard Residences, Brickell, are slated to open in August 2027. 

The boutique development will feature 51 condominiums starting at $3.7 million. 

The 244-unit community will be themed after the work of the artist Frida Kahlo. 

Affordability challenges continue to bedevil homebuyers, despite mortgage rates falling to a three-year low, the National Association of Home Builders reported. 

Brown Harris Stevens Miami is exclusively leading sales at the waterfront development, which features two- and three-bedroom residences.

The gated community sits on a former golf course and offers luxury homes in the $2.5 million to $3.5 million price range.

The pace of new-home sales hit an annual rate of 800,000, its highest level since January 2022. 

At the same time, completions of new single-family homes were on the rise last month, according to federal statistics. 

The River District project — now called Flow on the River — is zoned for about 1,900 residences on a 6.2-acre Brickell parcel. 

The moderately priced community offers four floor plans priced from $348,900. 

The upside surprise came despite monthly and yearly declines in the pace of sales. 

With an average price of $40 million, the project’s 37 “mansions in the sky” are currently the most expensive new-build residences on the market in Miami-Dade, according to backers. 

The single-family sector managed to eke out a slight monthly gain, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

The downtown Miami condominium tower will eventually top out at 70 stories. 

The NAHB/Wells Fargo Housing Market Index slid a point to 32, reflecting ongoing negative sentiment in the homebuilding industry.