Skyscraper Hits Construction Milestone To Become Tallest Building in Miami
Miami's future tallest tower is now more than two-thirds complete, as developers race to reshape the city skyline amid an ongoing luxury construction boom across South Florida.
The Waldorf Astoria Hotel & Residences Miami-set to become Miami's first "supertall" skyscraper-has now reached its 75th floor, according to developer PMG.
When finished in 2028, the tower is expected to rise 1,049 feet across 100 stories, Ryan Shear, managing partner at PMG, the developer, told Newsweek, making it not only the tallest residential building south of New York City's Manhattan borough, but also the tallest building in the Southern United States.
The project is part of a broader wave of high-rise development transforming Miami's skyline as population growth, foreign investment and demand for luxury real estate continue to fuel construction across Florida.
Florida has seen a surge in residents in recent years, being among the fastest-growing states, according to a 2024 U.S. Census Bureau report. The rising housing demand has seen international buyers investing-just over half (52 percent) of all new construction sales in recent years have been from buyers abroad, with Latin Americans forming the majority (86 percent), according to another report.
Inside Miami's First Supertall Tower
PMG's decision to launch Miami's first supertall skyscraper was driven by a desire to play a meaningful role in shaping the city's future skyline. "While the appeal of living in a landmark building is compelling, our primary motivation has always been to create something transformative," Shear told Newsweek.
The building, which is slated for completion in 2028, features a stacked cube design inspired by 20th-century sculptor Alberto Giacometti, who explored themes of space, perspective, and fractured forms, Shear said.
The tower's concept design is led by Sieger Suarez Architects, in collaboration with Uruguayan architect Carlos Ott, who drew inspiration from Giacometti's work to create "a cubism-influenced design," he said.
The project's structure consists of nine spiraling, offset cubes designed to be stacked and wrapped in what is described as a "glass skin," the developer said.
It comes with 360 residences of one to four bedrooms, designed with floor-to-ceiling windows overlooking Downtown, Miami Beach and the Atlantic Ocean.
With one-bedroom units sold out, prices for residences at the Waldorf Astoria now start at $3.3 million for two-bedroom units.
The Project at a Glance
Height: 1,049 feet
Current number of floors: 75 (as of May 2026)
Number of floors upon completion: 100
Rooms: 360 residences
Price: from $3.3 million for a two-bedroom unit
Projected completion date: 2028
What Else Is Rising Across Miami
PMG is building several other towers in Miami, including the Delano Residences Miami, a 985-foot condominium set near the Waldorf Astoria on Biscayne Boulevard. The Delano, which is expected to be completed by 2030, will be Miami's second supertall skyscraper and feature the city's first public observation deck.
The company is also developing the Frida Kahlo Wynwood Residences, inspired by the iconic Mexican artist, as well as the Twenty Sixth & 2nd Wynwood Residences, a condominium project designed to allow owners to list units on Airbnb.
PMG's last developments are among several new towers being planned in Miami.
A 955-foot mixed-use tower development has been proposed for 130 Biscayne Boulevard. Designed by Foster + Partners, the architectural firm of the famed British architect Norman Foster, in collaboration with Miami’s Revuelta Architecture, the development will see the demolition of three existing mid-rise structures.
If approved, the tower will be one of the tallest buildings in Miami, joining several ongoing projects, such as the Okan Tower (908 feet) and the 888 Brickell by Dolce & Gabbana (1,049 feet).
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This story was originally published May 7, 2026 at 8:49 AM.