BI Group USA, the North American division of one of Central Asia’s largest developers, is starting work on its first U.S. project with Parkside Residences in Miami that include a host of new wellness-focused amenities.
BI Group USA held a ceremonial groundbreaking for the 187-unit condominium in Miami’s Brickell financial district at 1741 SW Second Ave. Units span from 440-square-foot studios to 924-square-foot two-bedroom residences, according to the development’s website.
“Parkside isn’t just a response to Miami’s growth, it’s a statement about where global urban living is going next,” said Olzhas Ayazbayev, CEO of BI Group USA, in a statement from the development team.
The company is the North American division of Kazakhstan-based BI Group. Founded by Aidyn Rakhimbayev in 1995, the company has developed over 250 real estate projects throughout Central Asia, with Parkside Residences marking the group’s entry into the U.S. market. A second Miami tower, alongside a development in Houston, are also in the works, according to the group's statement.
Health and wellness have emerged as key factors influencing homebuyers, according to America at Home's latest survey results released in August. Per the group’s latest report, wellness is the top-ranked purchase motivator for buyers today.
Developers in Miami have taken note, and a number of wellness-focused condominiums are underway in the area, including House of Wellness from North Development, and a second branded condominium from New York’s The Well, following Terra’s completion of the wellness group’s first branded mixed-use development in Bay Harbor Islands earlier this year.
“We’re seeing a clear shift in the market where amenities are no longer an added benefit, but a deciding factor,” said Daniel de la Vega, president of One Sotheby’s International Realty, in the statement from BI Group. One Sotheby's International Realty is in charge of sales at Parkside Residences.
Parkside Residences sits within a quiet corner on the southwestern edge of Miami's Brickell neighborhood. The area includes a collection of mid-rise condominiums and hotels immediately south of 15th Road and east of Interstate 95. Domus Brickell Park opened a block from Parkside's location in March.
The wellness-focused amenities at Parkside Residences include a Technogym-equipped fitness center and cycling studio, dedicated yoga and mindfulness spaces, a full spa and wellness circuit with hot and cold plunge pools, coworking space and electric vehicle charging stations.
Prices at Parkside Residences begin at $400,000. Winmar Construction is serving as the general contractor, with the tower's architecture and design led by Kobi Karp.
“Today’s buyers value convenience, wellness and social experience as much as location, and Parkside is designed to deliver that in a meaningful and elevated way," said de la Vega in the statement.
