LCOR Pulls $150M Permit for 544-Unit Edgewater Tower

Miami-Dade issued a $150 million building permit on October 19 for a 39-floor, 544-unit residential tower at 1700 NE 4 Ave in Edgewater, county permit records show. The permit is held by 1775 Biscayne L Cal LLC, a single-purpose entity tied to LCOR’s long-running 1775 Biscayne Boulevard project; Coastal Construction of Miami-Dade County is the general contractor.

Why it matters

LCOR has been building toward this permit since it paid $49 million for the Edgewater site in 2022, and it closed a $192.5 million Natixis construction loan on the tower in mid-2026, as The Real Deal and Commercial Observer both reported. Coastal Construction’s name on this permit as general contractor confirms the build is moving, not stalled at financing. For South Florida builders and trades, a permit this size means subcontractor bids, labor demand and material orders are already moving in Edgewater, a corridor that has drawn a wave of new residential towers north of downtown Miami as developers push beyond saturated Brickell toward the Biscayne Bay waterfront.

The numbers

The permit lists an estimated value of $150 million for 544 units across 39 floors, with about 840,000 square feet of building area, a construction cost of roughly $179 per square foot. The county charged $152,453 in permit fees on the filing. The property carries folio 0132310720010 at 1700 NE 4 Ave, legally described within the V Downtown plat. The proposed use is coded for residential buildings of five units or more, and the application itself was logged as new construction rather than a renovation or addition.

What’s next

The county has not yet logged an inspection or certificate of occupancy date, which is normal at this early stage of a large multifamily build. Watch the Property Appraiser folio for the next assessed-value update once vertical construction is underway, and watch for LCOR’s own leasing announcements as the tower, designed by ODP Architecture & Design with KAS on interiors, tracks toward its fourth-quarter 2028 substantial completion date.