A Decade Without New Development
Buyers searching for new condos in Key Biscayne quickly discover a striking fact: there haven't been any. Oceana Key Biscayne, delivered in 2014, was the island's last new condominium. Since then, demand has been served entirely by resales in a small pool of legacy buildings — Ocean Club, Grand Bay, the Towers of Key Biscayne, and a handful of boutique properties.
The reasons are structural: the island is nearly fully built out, the Village enforces conservative zoning, and assembling a developable oceanfront site is close to impossible. That is precisely why the 2024 acquisition of the 3.8-acre Silver Sands site at 301 Ocean Drive for $205 million made headlines across the industry.
The Defining Project of This Cycle
301 Ocean Drive — the Terra Group and Fortune International Group joint venture — is the only new oceanfront condominium coming to Key Biscayne in 2026 and, realistically, the only one for years to come. The 13-story, 56-residence collection features architecture by Touzet Studio, landscapes by Raymond Jungles, residences from 3,354 to 8,000+ square feet, and penthouses with private pools.
Private sales launch in Fall 2026 with estimated pricing from $4M to $25M+ and delivery targeted for 2028–2029. For buyers tracking the 2026 pipeline, this is the list — one project, 56 opportunities.
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