Camino Capital's Metro 2 Edgewater tower lands a $61M permit

A 28-story Edgewater tower that filed plans in April 2024 has quietly become a permitted job. Miami-Dade County issued permit 2026055717 on July 1, a $61,244,580 valuation covering 349,969 sq ft at 3055 NE 4th Ave, with Metro Tower II LLC as the developer entity and Building Block Realty as contractor. That is Metro 2 at Edgewater, a project last covered publicly at its 2024 plan filing.

Why it matters

This is the part of the cycle most coverage skips. Plenty of Miami towers file plans; far fewer convert to an issued permit at a stated valuation, and the gap between the two is where a development pipeline is really measured. Twenty-seven months from plan filing to building permit is the number an Edgewater sponsor should be carrying in a schedule, not an optimistic twelve.

The structure of the team is the other signal. Metro Tower II LLC is a joint venture of Camino Capital Management, Lujeni and Building Block Realty, and Building Block is also the listed general contractor. A developer that carries its own construction arm prices risk differently than one bidding the job out, which is worth knowing if you are a subcontractor chasing this work or a competitor benchmarking hard costs on the same block. Named principals on the venture are Noël Bejarano of Camino Capital, Daniel Rincon of Lujeni and Carlos Ortiz of Building Block Realty.

The numbers

The permit records $61,244,580 across 349,969 sq ft and 28 floors on a 0.7-acre site. Plans filed in 2024 and designed by Burgos Lanza & Associates describe 103 apartments on floor 7 and floors 15 through 28, 60 hotel keys on floors 8 through 14, 36,134 sq ft of office across floors 2 through 6, 9,745 sq ft of ground-floor retail and a 220-space garage, rising 320 ft to the roof and 335 ft to the screen.

One discrepancy is worth stating plainly. The county permit records 162 units and codes the use as hotel, while the filed plan describes 103 residential units plus 60 keys, or 163. Permit use codes routinely flatten mixed-use programs into a single category, so this should not be read as a 162-key hotel. We are reporting both figures rather than reconciling them.

The site sits immediately west of the same team’s 32-story Metro at Edgewater.

What’s next

Watch for mobilization at NE 4th Avenue and whether the second tower’s schedule tracks the first. Two towers from one venture on adjacent parcels is a small Edgewater assemblage story that has not been told as one. Our South Florida hub follows the permit wire daily.