National Developer PMG Announces West Eleventh Residences in Miami

February 15, 2023

In Miami’s Park West neighborhood, Property Markets Group unveiled plans for a condominium tower with short-term rental options.

West Eleventh Residences will offer short-term rental flexibility and a first-time opportunity for owners to enjoy fully centralized management with the ability to host guests 365 days a year on Airbnb.

At 18 N.W. 11th St., which is currently owned by Miami-based Block 17 Land Trust, West Eleventh Residences would rise 44 floors. For the project, PMG has joined forces with the Marc Roberts Cos. and the Miami-based Lion Development Group, directed by Michael Simkins. On the bottom floor, there would be a 30,000-square-foot entertainment facility and food hall in addition to 659 completely equipped condos.

Although Miami’s short-term condo rentals were just introduced a few years ago, they are now a significant part of the city’s most recent condo development boom. They give condo owners the option to occupy them themselves or rent them out for however many days are necessary, allowing them to potentially profit from higher daily rental rates.

The E11even Hotel & Residences, another condominium for short-term rentals, and the E11even Residences Beyond are being constructed by PMG, Simkins, and Roberts directly west of the West Eleventh Residences.

“The demand for short-term rental properties with on-site support for seamless hosting is high in South Florida, especially in downtown Miami,” said Ryan Shear, managing partner at PMG. “Not only will West Eleventh Residences offer flexible living options and luxury condo ownership for buyers, but it will also provide impeccable residences and superb amenities for Airbnb guests and owners to enjoy.”

Condos at West Eleventh Residences will range in size from 334 square feet for studios. The units would contain smart home technology for lighting, audio, video, and other features. Costs start at roughly $300,000. The real sales push will begin on February 20.

The project was designed by Sieger Suarez Architects.The structure would have a restaurant, a lounge, a fitness center, and a pool.

Simkins asserted that “our collaboration with PMG and Marc Roberts Cos. on West Eleventh Residences will once again underscore the area’s potential, solidifying Downtown Miami’s District 11 into a true live-work-play community for all.”