Mercedes-Benz, the renowned German car manufacturer, is venturing into the world of branded real estate projects in the United States, joining the likes of Porsche, Aston Martin, and Bentley. Teaming up with Michael Stern's JDS Development Group, Mercedes-Benz is poised to make a grand entrance into Miami's competitive condo scene with a mixed-use development in the vibrant Brickell neighborhood.
Dubbed Mercedes-Benz Places, this ambitious 67-story project will boast 791 luxurious condo units, a 174-key hotel, 200,000 square feet of office space, and an array of amenities spanning 130,000 square feet. Moreover, the development will feature a state-of-the-art parking garage equipped with electric vehicle charging stations, catering to the growing demand for sustainable transportation options.
Strategically located at 1 Southside Park, just west of Miami's Metrorail line and east of Interstate 95, Mercedes-Benz Places aims to revitalize the neighboring area, which is currently considered less fashionable compared to the gleaming office and residential high-rises of Brickell. By injecting a touch of elegance and sophistication, the project seeks to redefine the landscape and offer a new standard of luxury living in the region.
JDS Development acquired the site, adjacent to Southside Park, for $23 million in 2020. Originally conceived as a rental property with 1,175 units, the vision for the development evolved, paving the way for this groundbreaking collaboration with Mercedes-Benz. In 2022, JDS Development secured an $86 million loan to kickstart the construction process, with an estimated completion date in 2027. Sales are being spearheaded by brokerage Serhant, with prices starting at $500,000, ensuring a wide range of prospective buyers can partake in the Mercedes-Benz lifestyle.
Notably, Mercedes-Benz Places represents JDS Development's second venture in Brickell, as the company concurrently develops a 90-story tower in partnership with luxury fashion house Dolce & Gabbana, located near the waterfront. These ambitious projects highlight the growing trend of car manufacturers aligning their brand with exclusive South Florida condo towers, pioneered by Gil Dezer's Porsche Design residential building in Sunny Isles Beach in 2017. Dezer has since introduced a Bentley-branded development in the same area, while the Aston Martin Residences in Downtown Miami further solidify the presence of car-branded condos in the region.
With Mercedes-Benz's entry into the market, Miami's branded condo competition is set to intensify. The luxury automaker aims to combine its renowned craftsmanship, design excellence, and commitment to innovation to deliver an unparalleled living experience to discerning buyers. As Mercedes-Benz Places takes shape, anticipation builds for this remarkable fusion of automotive prowess and sophisticated real estate in the heart of Miami's thriving landscape.