The Bank was a two story mid-1950’s building that had been engulfed by a six-story 1960’s office building. The building had been abandoned for more than 10 years in a neighborhood that had been decaying for more than two decades. Midgard had a vision of repurposing the commercial space into a combination of retail and loft apartments.
All non-structural components were demolished, stripping the building to its skeleton revealing a sound structure with unique architecture. A raw and high tech mixture of live/work lofts and retail were developed. A 7th floor penthouse level was added in addition to new roof amenities. The building featured hurricane expansive glass, all new electric, A/C with exposed spiral ducts, modern kitchens and a new two-level parking garage.
Midgard sold all 84 live/work lofts in five months, with the ground floor retail sold to such notables as Bank of America at record prices. The building won the 2006 Platinum Award for Pre-Construction-Remodeling/Conversion For Units $500,001 & Over, sponsored by The Builders Association of South Florida and the Miami Herald.
“The Bank” is a recognized landmark building and a cornerstone of the renaissance of the uptown Miami market (a.k.a. MiMo).