PMG pitches a second supertall near Waldorf Astoria site as Downtown Miami’s skyline accelerates upward

A new adjacent tower is being advanced alongside Miami’s under-construction Waldorf Astoria supertall

Plans are moving forward for another major high-rise next to the under-construction Waldorf Astoria Hotel & Residences Miami, the 100-story tower rising on Biscayne Boulevard that is planned to reach 1,049 feet at full buildout. The project is being developed by Property Markets Group (PMG) with partners and is scheduled to top out in 2026, with completion targeted for early 2028.

The newly launched proposal is Delano Residences Miami, a Delano-branded condominium tower planned for 400 Biscayne Boulevard on a roughly 1.2-acre site immediately adjacent to the Waldorf development. Current plans call for a 90-story building rising about 850 feet and containing 421 residential units, with hotel-linked amenities integrated into the concept.

What is known about the Delano Residences proposal

• Location: 400 Biscayne Boulevard in Downtown Miami, next to the Waldorf Astoria site at 330 Biscayne Boulevard.

• Scale: approximately 850 feet and 90 stories, with 421 units planned.

• Timeline: PMG has indicated a roughly five-year development horizon, reflecting longer construction timelines typical for very tall towers.

• Design team: Carlos Ott, Cube 3, and Meyer Davis (interiors) are part of the announced team.

How this fits into Miami’s supertall pipeline

The Waldorf Astoria project has become a central marker in Miami’s competition for height. The building’s stacked-cube design, associated with architect Carlos Ott, has been positioned to become the tallest building in Florida once completed at 1,049 feet. As of January 2026, construction had passed the 50th floor, reaching a midpoint milestone on its vertical climb.

The latest announcement also lands amid a broader set of supertall ambitions in Greater Downtown and adjacent districts. A separate long-planned megaproject, One Bayfront Plaza, has approvals describing a supertall concept at 100 South Biscayne Boulevard, also associated with a 1,049-foot height in some iterations. Miami has also seen multiple canceled or reworked proposals over the years, underscoring that even advanced concepts can face financing, market, and timing constraints.

Development risk, timing and market context

Developers and lenders typically scrutinize supertalls differently than conventional high-rises because of engineering complexity, longer schedules, and greater exposure to shifts in construction costs and buyer demand. PMG’s timeline framing for the Delano Residences project reflects those realities, with the developer acknowledging that extended build periods can increase risk.

Supertall projects generally require longer timelines, more complicated logistics, and greater coordination across design, engineering, and construction phases.

If built as proposed, Delano Residences would add another prominent vertical element along the Biscayne Boulevard corridor while reinforcing Downtown Miami’s current trajectory: larger branded residential offerings clustered near waterfront parks, cultural assets, and transit-connected employment centers.