The first branded residential development from health and wellness service company The Well has opened in Miami’s Bay Harbor Islands.
Developer Terra received a temporary certificate of occupancy for The Well Bay Habor Islands, a new mixed-use development that combines luxury residences with 102,000 square feet of high-end office space at 1177 Kane Concourse.
The condominium comes with 66 residences and 22,000 square feet of wellness-inspired amenities. Units are 90% sold, while the office component is 90% leased to a mix of financial services firms, creative businesses and family offices — including seven-time Super Bowl champion Tom Brady’s Tom Brady Enterprises. When sales launched for the condos, prices started at $1.2 million.
“We saw an opportunity to rethink how wellness could be fully integrated into everyday life — not as an amenity, but as a foundation,” said Terra CEO David Martin in a statement. He added The Well Bay Harbor Islands represents “a model for how we believe communities should be designed moving forward.”
A third component of the development, a resident’s and members club, will expand the property’s wellness offerings with another 16,000 square feet of wellness amenities. The club is set to open later this summer, while a GoldenGood Market and Eatery will open next year. The shop will provide residents and office tenants with a mix of sustainably sourced foods, artisanal products and everyday essentials.
"We're creating more than a destination — it's a wellness-centered community where residents can live well, office tenants thrive and members and guests can find community," said Kane Sarhan, chief creative officer of New York-based The Well, in the group’s release.
Health and wellness have emerged as key factors influencing homebuyers, according to the America at Home Study. Per the group’s latest report, wellness is the top-ranked purchase motivator for buyers today.
The Well Bay Harbor Islands sits on the quiet island community of Bay Harbor Islands. The town comprises two islands roughly nine miles northeast of downtown Miami with approximately 6,000 residents, per census estimates. The Well Bay Harbor Islands is within walking distance of Bal Harbour Shops, a luxury shopping mall and nearby beaches.
Terra has already started work on a second The Well-branded property, breaking ground on The Well Coconut Grove in mainland Miami in February with a $410 million construction loan.