Announcement, then ground breaking
Related Group and GTIS Partners announced Baccarat Residences Miami on 22 March 2023. Ground breaking followed in October 2023 at 99 SE 5th Street, the permit address for a tower marketed at 444 Brickell Avenue. Arquitectonica designed it. Meyer Davis handles interiors and Enzo Enea leads landscape design. John Moriarty & Associates of Florida is the general contractor.
The loan closed in March 2024
Related Group and GTIS Partners closed a $328 million construction loan from Bank OZK. Berkadia South Florida arranged the facility, and Florida YIMBY reported the closing on 2 April 2024. Over 95 percent of the residences had sold since the launch in late 2021.
"From breaking ground last October, to now closing this loan, our vision for a skyline-defining property is quickly becoming a reality," said Jon Paul Perez, President of Related Group.
The 2024 reports put the tower at 355 residences including eight penthouses. The project record now reads 360 residences, split as 324 tower units, eight penthouses and 28 riverfront flats and duplexes.
The permits that followed
Miami's Building Department issued the master building permit on 15 July 2024, and it replaced a phased vertical permit. The permit set 75 stories at 848 feet above ground and 852 feet above sea level. Tower cranes were planned for 887 feet above ground.
An electrical permit followed on 18 July 2024, with JC & A Electrical Contractors Inc. listed against $21,120,000 of work. A mechanical air permit sat pending at that report, with HYVAC Inc. listed against $13,000,000. The March 2026 report puts the building at around 835 feet.
The pour that ran 30 hours
Ceco Concrete Construction placed the foundation in August 2024. The pour carried more than 10,000 cubic yards of concrete and 1,500 tons of reinforcing steel. It began at 8pm on a Friday and ran without a break to 2am on the Sunday, 30 hours.
John Moriarty & Associates oversaw the work with Florida Concrete Unlimited, Titan America, Gancedo Lumber, B&J Consulting Engineers and NV5. The volume set a record for both development firms.
"It's not every day you see a foundation pour of this scale and magnitude," said Nicholas Perez, President of Related's Condominium Division.
Curtain wall at the 40th floor
Construction reached the 40th floor of 75 by 13 March 2026. Curtain wall installation was advancing several floors below the active formwork. Balcony glass railings went on at the same time, and the glazing still carried its protective film. Roughly 35 floors remained.
No page publishes a curtain wall start date. The record dates the installation as in progress on 13 March 2026.
The order to early 2028
The sequence reads: announcement March 2023, ground breaking October 2023, loan closing March 2024, master permit 15 July 2024, electrical permit 18 July 2024, foundation pour August 2024, curtain wall in progress March 2026, completion early 2028.
The loan closed three and a half months before the master permit. Three days separate the master permit from the electrical permit, and about five and a half weeks separate the permit from the pour.
What the delivery year carries
The Miami record counts 85 projects and 32,652 units in the pipeline. It dates 19 projects and 7,841 units to 2028, the peak year, and Baccarat's 360 residences land inside that row. The record reports a likely top-out later in 2026 and keeps completion at early 2028 with no month and no certificate of occupancy date.
SH Hotels & Resorts will manage the tower. It is the sister property to Baccarat Hotel & Residences in Midtown Manhattan.