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Two Roads can start Biscayne 21 demolition after Miami settlement
The firm paid $50 million for the remaining Biscayne 21 units, and vertical construction is expected to begin soon after demolition.
Two Roads Development has reached a settlement that gives it complete control of the Biscayne 21 waterfront site in Miami’s Edgewater neighborhood, clearing the way for its planned Edition-branded condo project.
The development firm will pay $50 million for the remaining Biscayne 21 units, according to a Two Roads Development representative. Demolition is set to take place this month, with vertical construction to begin soon after, and the project is reported to be 40 percent sold.
The settlement ends a three-year legal stalemate that threatened to derail the 55-story Edition-branded high-rise. Two Roads acquired the majority of the Biscayne 21 units in 2022, paying at least $150 million for a 3.5-acre property at 2121 North Bayshore Drive and launching the 185-unit development with prices starting at $1.7 million.
The dispute followed Two Roads’ decision to amend Biscayne 21’s bylaws to terminate its condo association, a step it said was critical to gaining control of the 191-unit building to demolish it and begin construction. Commercial Observer reports that condo owners sued in 2023 after the change, and a Florida court sided with the owners before Florida’s Supreme Court declined to take up Two Roads’ appeal in October.