Miami’s Changing Skyline: Delano Residences and the Rise of Luxury Supertalls

Ennismore and Property Markets Group (PMG) have announced Delano Residences Miami, a planned 90-story, 985-foot residential tower at 400 Biscayne Boulevard that will introduce 421 luxury residences to Downtown Miami’s skyline. The project represents one of the latest additions to the city’s growing collection of supertall luxury developments.

In a global environment where high-rise residential pipelines have slowed in several major cities due to financing costs and regulatory constraints, the launch of another large-scale luxury tower in Miami is a notable data point.

The Next Wave of Supertalls in Miami

Delano Residences Miami is part of a broader wave of large-scale towers reshaping Miami’s skyline. Several other major residential and mixed-use skyscrapers are in progress or proposed:

• Waldorf Astoria Hotel & Residences Miami: Currently under construction and also developed by PMG, this tower is projected to rise approximately 1,049 feet, making it one of the first supertall buildings in Florida when completed. It will feature a mix of luxury residences and a hotel component. 
• Cipriani Residences Miami: An 80-story luxury residential tower developed by Mast Capital, rising to approximately 940 feet. It has attracted high-net-worth interest, including reported purchases by notable buyers. 
• Okan Tower: A mixed-use high-rise currently under construction that will reach approximately 902 feet when completed, contributing to Miami’s growing inventory of luxury skyscrapers. 
• 130 Biscayne: A proposed 87-story tower at 130 Biscayne Boulevard that would include residential, hospitality, and commercial space, reflecting continued developer interest in downtown vertical growth. 
• One Bayfront Plaza: A proposed 93-story mixed-use project that would rise over 1,000 feet and include office, hotel, and residential components, further indicating market appetite for supertall development. 

These projects represent a broader shift toward high-density, amenity-driven urban residential development at scale. The number of towers planned or under construction that exceed traditional height benchmarks indicates continued capital allocation into Miami’s luxury condominium segment from both domestic and international buyers.

Migration Trends and Buyer Composition

Miami’s development momentum over the past five years has coincided with measurable migration trends. Florida does not levy a state personal income tax, and the city operates within the broader U.S. legal and property rights framework. These structural factors, combined with international connectivity through Miami International Airport, have supported an expansion of the city’s domestic and international buyer base.

Luxury demand in Miami now includes relocations from higher-tax U.S. states as well as sustained inflows from Latin America and Europe, contributing to transaction liquidity in the condominium segment.

The Shift Toward Vertical Ultra-Prime

High-rise luxury residences offer a different ownership model than standalone waterfront estates. Managed security, centralized amenities, brand partnerships, and proximity to financial districts are defining characteristics of vertical ultra-prime living. For globally mobile buyers, these features provide operational simplicity and year-round usability.

As Miami’s skyline continues to evolve, projects such as Delano Residences represent more than architectural additions. They reflect continued capital deployment into large-scale residential development and the city’s ongoing role within the U.S. ultra-luxury property market.