JEM Private Residences is officially out of the starting blocks. Crews have pushed concrete and rebar past the top of the 67-story tower’s podium, and the main structure is now beginning to climb into view above Miami Worldcenter’s northern edge. From the street, and in fresh aerial shots, the tower is finally asserting itself instead of hiding behind its base.
Developer Naftali Group’s sculptural tower at 1016 Northeast Second Avenue was conceived by Arquitectonica with interiors by the Rockwell Group, and is planned to top out at roughly 700 feet. According to Naftali Group, the project separates condo and rental programs, with a large amenity suite and structured parking serving both components.
Aerials Show JEM Tower Climbing Past Its Podium
Recent site photos and notes show crews moving into the repetitive residential floors, where the tower’s rhythm really kicks in. Tower cranes, concrete pumps and neatly stacked formwork now ring the block as the structure begins its vertical sprint.
As reported by Florida YIMBY, the project occupies an entire city block bounded by Northeast 2nd Avenue, Northeast 10th Street, Northeast 11th Street and Northeast 1st Avenue. The site is being permitted under 175 Northeast 10th Street, with Coastal Construction listed as the general contractor.
Money Behind the Rise
JEM’s climb is powered by a hefty construction financing package. Naftali secured about $465 million last year, split between a $235 million C-PACE loan and roughly $230 million in traditional construction debt. That structure was detailed by The Real Deal, which noted the C-PACE slice as one of the largest of its kind in Florida.
Luxury Amenities and the Penthouse Play
Naftali’s marketing and project materials frame JEM as a high-end entry in the downtown condo race, calling for a condo-only amenity level paired with a curated mix of upscale finishes. Plans describe a 50th-floor amenity suite capped by a 60-foot outdoor pool and a sculptural installation, plus a tight collection of ultra-luxury Sky Villas with interiors by FENDI Casa. The Rockwell Group is credited with the overall interior concept for the residences…