Construction on Elysee, a new waterfront luxury condominium project in East Edgewater, will begin in the first quarter of 2018 with completion aimed for 2019, per Multi Housing News.

Two Roads Development received $16.5 million in initial financing from Mosaic Real Estate Credit for the 57-floor building’s first construction phase. That phase will include subterranean excavation work, pouring a concrete foundation, and installing pilings.

The Elysee project will include 100 spacious residences ranging from 2,3000-4,000 square feet. Located on a .64-acre land parcel hugging Biscayne Bay, the building’s architecture will provide both bay and city views due to its unique, telescoped shape, designed by Arquitectonica architect Bernardo Fort-Brescia. Paris-based architect Jean-Louis Deniot will design the building’s interior communal spaces.

Rendering courtesy of Elysee 

An impressive list of amenities aims to underscore Elysee’s stature as a luxury residence. The building will feature everything from a resort-sized pool to a “children’s lounge” and a blow-dry bar. Spa facilities, a dining room, wine room, and private theater round out buyer perks, with unit prices starting at about $1.5 million to more than $10 million.Elysee, with its luxury appointments like 12-foot ceilings, Italian cabinetry, and premium appliances, marks one example of developers betting on East Edgewater.

With proximity to downtown Miami, Wynwood Arts District, Midtown, and Miami Beach — plus its waterfront location — East Edgewater is quickly becoming a hot neighborhood for real estate, according to the Miami Herald.

The Herald, noting the neighborhood’s “amazing value proposition,” calls East Edgewater “the best opportunity Miami has seen since abandoned dog tracks and retirement homes called South Beach home.”