News: a tower under construction in Miami by Porsche Design and Dezer Development is to feature car elevators, allowing some of the world's wealthiest people to park right next to their living rooms (+ slideshow).
The sixty-storey Porsche Design Tower will feature three automobile lifts to transport vehicles up to "sky garages" integrated into each of the 132 units.
Twenty-two billionaires - just under two percent of the world's total - have already purchased property in the tower according to The Atlantic Cities.
"Featuring the level of superlative quality and groundbreaking ingenuity synonymous with Porsche Design's iconic style, buyers understand the unprecedented value of these properties," said Porsche Design CEO Juergen Gessler about the first real estate venture for the company.
Located in Sunny Isles Beach, a seaside district north of Miami, the cylindrical design developed by Dezer Development will rise 198 metres from the shoreline.
Depending on their size, units will have two to four garages that will be visible through glass walls inside the apartments. Resident's vehicles will be washed and maintained by a concierge service.
The residences will include double-height spaces with ocean views, with plunge pools and outdoor kitchens on expansive balconies. Other amenities in the tower will include a spa, a cinema, a game room and a seafront ballroom.
Construction began in April 2013 and the first residents are predicted to move in during early 2016.
A luxury residential tower by Herzog & de Meuron has also been proposed on the same strip of shoreline and Zaha Hadid has designed another high-rise apartment building nearby.
Here's some more information from Porsche Design:
$214 Million Construction Loan Secured for Porsche Design Tower
Largest loan for a single construction project in the Southeast United States
New York/South Florida-based Dezer Development today announced that it had closed a $214 million loan from Wells Fargo for construction of the iconic Porsche Design Tower Miami, located in Sunny Isles Beach. It is the largest loan approved for a major construction project in the Southeast United States since the real estate recession, and exponentially larger than any post-recession loan of its kind in South Florida. At $214 million, it is almost 30 percent larger than the previous largest substantive construction loan for a South Florida project since the recovery began.
The 132-residence, 60-story, ultra-luxury Porsche Design condominium tower is located at 18555 Collins Avenue, Sunny Isles Beach, Florida. The project has already secured $535 million in sales – representing over two-thirds of the units – far exceeding the benchmarks for securing the loan. Sell-out of the remaining units is anticipated to occur towards the end of the year at the current absorption rates. The building’s expansive residences range in size from 4800 to 17000 square feet and are priced from $4.8 million to $32.5 million. The building is slated for occupancy first quarter of 2016.
"This is extremely positive news for real estate financing and the recovery of the residential real estate market in South Florida," says Gil Dezer, president of Dezer Development. "It is also a testament to how this one-of-a-kind project has been received by our buyers, as well as the lending community."
"The opportunity to be part of Porsche Design's first-of-its-kind real estate venture has been paramount to our sales success," says Juergen Gessler, CEO Porsche Design Group. "Featuring the level of superlative quality and groundbreaking ingenuity synonymous with Porsche Design’s Iconic Style, buyers understand the unprecedented value of these properties."
Reflecting the Porsche Design luxury brand's hallmarks of technical innovation, forward-thinking and its timeless Iconic Style, the Porsche Design Tower Miami features a one-of-a-kind automobile lift system which will allow owners to park their vehicles in "sky garages" directly next to their units. While typically a luxury reserved for the most elite of penthouses, the building features plunge pools and outdoor summer kitchens on the balconies in almost every unit which completes the feel of the sky residence.
Other incomparable building amenities include a state-of-the-art spa equipped with treatment rooms featuring Vichy showers, sunset terrace complemented with twin over-sized spa tubs, an oceanfront ballroom and multipurpose clubrooms including a movie theatre and game room, and a Car Concierge who will tend to a resident’s vehicle, by assisting with regular maintenance, tire rotations, washing and other services.