Developer PMG has revealed plans to build a new luxury apartment building, called Vice, on the former Empire World Towers property in downtown Miami. The plans call for the creation of 464 small up-market units, with the goal of achieving a rental rate of $3 per square foot. Studios that are 530 square feet would rent for $1,650 per month while one bedrooms with 600 square feet would go for $1,800 per month. Construction of the project will begin by the end of the year. CFE Architects is the architect.
PMG’s Ryan Shear stated, “If somebody’s okay living in that space in New York, why would they not want to live in that space in Miami?”
