Downtown Miami $129M tower permit issues after 1,024 days in review

The City of Miami issued a new-construction permit on September 28 for 50 NE 3rd St in downtown Miami, valued at $128,663,319 and covering 569,969 square feet. The contractor is John Moriarty & Associates of Florida. The record’s own review clock shows the plans sat in city review for 1,024 days, nearly three years.

Why it matters

Plans for the site were submitted on December 1, 2023, and accepted on December 8, 2023, according to the city record. Issuance came on September 28, 2026. For builders and subcontractors, that is the real schedule risk on a large downtown job: the gap before the permit, not the build after it.

The permit lists the work as multifamily rental with retail, professional office and a multi-floor parking garage. It was handled through a private provider, and the permit is active and ready for inspections. The wire row lists no owner. Florida YIMBY reported in November 2025 that Namdar Group was advancing a two-tower project at 50 NE 3rd Street. We could not confirm from the permit that this approval covers that project or one of its phases.

The numbers

• Valuation: $128,663,319, about $226 per square foot
• Size: 569,969 square feet, zoned T6-80-O under Miami 21
• Plan review: 1,024 days, December 2023 to September 2026
• Contractor: John Moriarty & Associates of Florida, based in Hollywood

What’s next

With the permit active, the next public milestones are inspections and a certificate of occupancy, which the record lists as required. Trades bidding on this scope should expect mobilization soon, though no start date appears in the record.

Developers weighing downtown sites should price the review lag into carry costs. Track more projects on the South Florida market page.