In what might be the latest twist on working from home, national developer PMG plans to offer buyers of residential condominiums in a proposed 34-story Miami tower a separate office suite as part of the deal.

The 240 fully furnished living units planned for One Twenty Brickell Residences are anticipated to range from 451 square feet to 1,395 square feet, with prices beginning at $600,000 and rising to $1.5 million. Plans call for each residence to have allocated office space spanning between 100 square feet and 387 square feet in a separate section of the tower an elevator ride away. PMG plans to file for approval in the near future to start building and expects to break ground in 2024, with completion of the tower anticipated in 2028.

Once the building is completed, residents are to be deeded a complete office suite available to rent out with their purchase of a condo unit, with the price representing both the residential and office units in what PMG says would be the first sale of its kind in Miami.

The sales plan comes as office use is below pre-pandemic levels around the country as some office workers say in studies that the pandemic made them realize they wanted to avoid a commute to work.

“We just think it marries with the times incredibly well and just the behavioral shift of work-life patterns,” Ryan Shear, managing partner at PMG, told CoStar News in an interview. “You're really getting not just a condominium unit, but … a real office.”

While the company has been experimenting with adding offices to its residential developments, as in its Society multifamily brand, where coworking spaces are often included, this is different from the traditional workspace-as-an-amenity offering. The tower's offices are designed to be built in separate parts of the building from the residential parts of the tower, with each workspace having a separate entrance.

“It was purposely designed as a separate asset,” Shear said. “Let's make it that you can deed it off so it's really sellable, rentable. You can have it. It's yours. You're not sharing with anybody. I think it meets where the world is today."

While office demand in the Miami area is stronger than in other parts of the country, the owner is still taking a risk in seeking to construct a building that's designed to try to attract enough interest from would-be office landlords or those looking to eliminate their commute. And there's no guarantee it will lure any additional demand for residential units beyond providing a point of discussion and potential higher visibility.

The other caveat is that county officials would have to grant final approval. Shear said last week that “we're on the gates of filing the condo docs," but he's anticipating clearance to build soon because the tower would sit within one of the county’s rapid transit zones, offering expedited approvals for residential and mixed-use development near transit stops.

One advantage of the plan is that South Florida's commutes have worsened with elevated traffic congestion, so office-residential developments "are ways to reduce commute times and improve quality of life for residents who want to locate in the most attractive areas of South Florida," said Juan Arias, CoStar's director of market analytics for South Florida.

The proposed tower at 120 SW 8th St. is west of elevated Metrorail tracks and in a part of the Brickell neighborhood of Miami that has recently started to see new development as the area's eastern waterfront edge becomes increasingly built out.

One Twenty Brickell's office portion is designed to make up floors two to 11, followed by amenity spaces on floors 12 and 13. Residences are to begin on floor 14, according to PMG Residential, the developer's in-house brokerage.

Each glass-paneled office is designed to come equipped with locking access, desk and chair, additional guest seats and complimentary Wi-Fi. An eight-person reserveable conference room, reception area, coffee station and complimentary concierge service are to be included as part of One Twenty’s office component.

Residential units at One Twenty Brickell are designed to range between studios to three-bedroom apartments that have kitchens with high-end appliances, glass-enclosed showers, washers and dryers and PMG’s smart home technology.

Over 60,000 square feet of amenity space is planned. The tower is expected to have a pickleball court with seating, a kid’s club and a gym, a sky bar and lounge, a dog run, a café and juice bar, and an infinity-edge pool designed to provide sunset views.

PMG Residential plans to start sales at One Twenty Brickell in April. PMG isn't pursuing financing for One Twenty Brickell but plans to seek it when the developer is prepared to go vertical, a PMG spokesperson told CoStar News.

Construction is expected to begin on the project this year.

Previously, PMG was partnering with Sentral, a Denver-based luxury residential hospitality company, for a mixed-use project called Sentral Brickell at the site. Shear told CoStar News while plans are still being considered with Sentral for the site, PMG is moving forward with sales of the condo units because of the strength of the condo market. Additional details about potential plans with Sentral were not provided.

The region's office section has had demand, helped partly by the relocation of billionaire Ken Griffin and his company Citadel from Chicago to Miami, Jeff Bezos' return to South Florida, followed by an officially unrelated announcement that Amazon was looking for office space in the city; a new securities trading floor, and dozens of other company relocations and expansions.

Shear told CoStar News that he's hoping One Twenty Brickell will capitalize on Miami's elevated status and provide new-to-market entrants with a high-quality product that "meets buyers demands and challenges the market."

High-end offices in Miami’s central business district, including Brickell and downtown Miami, have only about 5.5% of space empty, compared to the nation's average of 14% vacancy, explained CoStar's Arias.

The demand "works to the advantage of well-located office space that is in an urban setting that provides retail and entertainment amenities as well as proximity to your home, while cutting down on commute times,” Arias said.

According to the latest market report from JLL, "Brickell remains the most attractive submarket in Miami and posted one of the lowest vacancy rates, not only in Florida, but nationwide." The demand means that the city's development pipeline remains strong and stretches as far out as 2028, the report said.

Similarly, the Miami Association of Realtors notes that when it comes to condominiums, median prices rose 1.4% year over year to $405,750, and the region's "incredible wealth migration" led to the share of million-dollar condos and townhouses accounting for 9% of sales in 2023, compared to 5% in 2019.

"You can see what the value of office in Brickell is," said Shear. "To be able to lean into that in your own building, I think is a huge amount of value."

One Twenty Brickell is a proposed condominium and office tower by national developer PMG, and was designed by Sieger Suarez Architects with interiors by Cotofana Designs.