Allied Partners Files 38-Story Mixed-Use Tower on Ocean Drive

Miami Beach’s low-rise Ocean Drive corridor is facing one of its most consequential high-rise filings in years. Allied Partners has put The Savoy on the city’s administrative desk — a 38-story Arquitectonica tower proposed for 425 Ocean Drive under Florida’s Live Local Act, on the combined footprint of the historic Savoy and Arlington hotels.

The program stacks three product types in one vertical: roughly 90 market-rate condominiums averaging about 2,850 square feet, a 76-key hotel component, and 60 workforce rental apartments in the podium. Those rentals would average about 525 square feet and remain income-restricted at or below 120 percent of AMI for at least three decades. Plans also call for 257 parking spaces on a site long associated with South of Fifth’s Art Deco and Mid-Century street wall.

Height would land near 453 feet to the roof and about 480 feet at the tallest point — a sharp contrast with the surrounding low-rise fabric. To clear the pad, the Arlington and nearly all of the Savoy would come down; the application commits to keeping and restoring the Savoy lobby plus a limited stretch of its Ocean Drive facade, with the new street front designed to align with that retained massing.

The filing underscores how Live Local Act density and height bonuses are reshaping even Miami Beach’s most protected-feeling corridors. The project remains under staff review, with no construction start announced — but if approved as proposed, it would mark a rare condominium-and-hotel insertion into a stretch of Ocean Drive that has largely resisted towers.