Downtown Miami is set to undergo yet another transformation with the development of a residential tower that will offer more options for the next generation of buyers wanting to call South Florida home.

On Thursday, Related Group and Merrimac Ventures broke ground on Crosby Residences, a 33-story tower located in downtown Miami at Miami Worldcenter, the $4 billion, 27-acre development with 300,000 square feet of retail, restaurant and entertainment space.