Shoma Group has broken ground on Shoma Bay in Miami’s North Bay Village, marking the latest sign of increased developer interest in the island city.
Construction on the 21-story tower, located at 1850 John F. Kennedy Causeway is expected to take two years, with an anticipated 2026 opening. The mixed-use development will include 333 condominium units that range from 344-square-foot studios to 2,700-square-foot three-bedroom units. Ten penthouses are planned.
Shoma Bay is one of the first projects in North Bay Village to begin construction after the city updated its zoning codes in 2020 to allow for increased height and density. The city, comprising Harbor, North Bay and Treasure Island, is located between Miami and Miami Beach and has seen little in the way of new construction as developers pursued more lucrative opportunities on either side of Biscayne Bay.
A number of developers are working to take advantage of the city’s updated zoning codes. New York’s Continuum Co. recently expanded its footprint on the island, and Sunbeam Properties has plans for a mixed-use project that includes condos, apartments, hotels and retail space. And there's a 28-story Pagani-branded residences, the first ever from the Italian sports car maker, in the works.
Prices at Shoma Bay begin at $750,000. Shoma Group plans to seek financing for the project at a later date, according to a representative for the developer. Alongside the residences, plans for the complex include a 35,037-square-foot Publix grocery store and an additional 15,628 square feet of retail space.
"This groundbreaking marks the beginning of a new era in North Bay Village, where residents will have the opportunity to embrace a luxurious bay-front lifestyle in one of Miami's most sought-after communities,” said Masoud Shojaee, CEO and chair of Shoma Group, in a press release.
The project is expected to “set a precedent for contemporary living and future concepts coming to the new North Bay Village neighborhood,” said Craig Studnicky, CEO of ISG World, in the statement. ISG World is the exclusive sales team for Shoma Bay.
In an emailed statement to CoStar News, Rachel Streitfeld, a North Bay Village commissioner, said the new zoning codes were crafted with livability, resilience and economic development in mind, adding that impact fees had already helped narrow funding gaps on infrastructure improvement projects across the island city.
"We will see increased public access to Biscayne Bay, a broader tax base leading to improved services, wider sidewalks with enhanced landscaping, a new grocery store, and more restaurant and retail options," Streitfeld said.
When it opens in 2026, residents at Shoma Bay will be able to enjoy a spa with Turkish baths, a two-story fitness center, theater, wine cellar and multiple lounges and clubs. A 6,030-square-foot pool deck is planned alongside a Zen garden and fire pits. The project will also feature designated parking spaces, electric vehicle charging stations, bicycle storage and a grocery delivery room.
For the Record
Civic Construction is serving as the general contractor for Shoma Bay.