Construction is starting on The Ritz-Carlton Residences, Miami Beach located at 4701 Meridian Avenue on Surprise Lake. 

The condo is being built around the former shell of what used to be the Miami Heart Institute. The site also used to be the location of Carl Fisher's King Cole Hotel. 

The nine acre site was bought for $20 million in February 2012, by Lionheart Capital and will have 111 condo units with fifteen single family villas in the former parking lot space. 

The ultra luxury condo was designed by Piero Lissoni with Jonathan Cardello of ADD, Inc. Plaza Construction is the contractor. 

Groundbreaking began in May 2014 and is expected to be completed in Winter 2016.