DJ Irie kicked off the groundbreaking of Aston Martin Residences with a bang – literally.
The Miami DJ announced the start of construction with a confetti blast and fireworks show. G&G Business Developments and Aston Martin held the event at the project site at 300 Biscayne Boulevard Way on Thursday. It’s about 25 percent sold with $160 million of sales, German Coto, CEO of G&G, told The Real Deal. Cervera Real Estate is handling sales.
The 391-unit, 66-story tower will be the first residential tower for Aston Martin, and will join the car-branded condos as Porsche Design Tower and other luxury branded condos like Missoni Baia and Armani/Casa in South Florida.
Aston Martin Residences is one of only a few projects to break ground this year amid the slowdown. Just last week, Russian billionaire Vladislav Doronin broke ground on Missoni Baia, a 57-story tower planned for Edgewater. The groundbreaking event featured a show as well: a couple on a jet pack playing the saxophone in Biscayne Bay.
Coto expects to go vertical with construction in about a year and deliver the building in 2021. The developer and luxury carmaker unveiled the multimillion-dollar sales center, complete with a $2.5 million Aston Martin Vulcan, earlier this year. Coto and Aston Martin are working together to design the interiors. The sales center also features a custom-made carbon fiber desk, leather door handles and Eames chairs.
The sail-shaped building, designed by Revuelta Architecture and Bodas Miani Anger, will be built on the former Epic East site, which fronts the mouth of the Miami River.
The developer bought the 1.25-acre site for $125 million in 2014. The Coto family runs the large Coto Supermarkets chain in Argentina, with development projects in Latin America and Europe.