The EcoStone Group, a Miami-based real estate investment, development, and contracting firm, is moving forward on its first ground-up project. Rising in Allapattah at 1515 and 1601 NW 18th Street, the 8-story development has reached the third floor of vertical construction. The undertaking marks the company’s debut into multifamily development, with additional projects anticipated in the pipeline. With permitting and $23 million in financing secured from Banco Popular (also known as Popular Bank), EcoStone Group is now progressing towards completion on the 125-unit building.
Work on the project began with the demolition of two on-site multifamily buildings in early 2023, both dating back to the 1970s and 1980s. Active construction ramped up this year, with groundbreaking taking place earlier in 2024, cranes erected in early August, and the first floor completed in early November.
With construction progressing at an estimated pace of roughly two to three weeks per floor, the 8-story building is expected to top out at 75 FT in early 2026. The project’s permits include a master construction permit, currently awaiting applicant corrections, as well as fully approved vertical construction permits and an array of miscellaneous permits supporting site and structural work.
According to City of Miami permitting records, EcoStone Group is listed as the general contractor, utilizing its long background in construction. C.G. Electrical & Consulting Services Inc. is shown as the electrical subcontractor, with Pacifica Engineering Services noted as the project engineer.
Beyond its 125 apartments, Eco Landing will include a substantial parking podium fronting NW 15th Avenue, along with a pool, outdoor showers, lounge areas, spacious balconies, and other resident amenities. The project carries an estimated price tag of almost $35 million, similar in cost to other planned developments by the firm.
Eco Landing is one of several projects in a submarket experiencing unprecedented growth, with developers like Neology Life, Alta Development, and EcoStone Group fueling a wave of mixed-use, multifamily development. Rising demand beyond Brickell is reshaping Allapattah, as projects like River District 14 and Eco Landing approach topping out, pushing hundreds of apartments in a market historically overlooked.