Terra, GFO Investments and New Valley plan to break ground this month on Five Park, a 48-story, roughly 280-unit tower at 500 Alton Road that will become the tallest building in Miami Beach at 519 feet upon completion in 2023.

Five Park will feature two-, three- and four-bedroom and penthouse condominium and multifamily units. “Building amenities,” the press release said, “will include an amenity deck with tw2o swimming pools, a restaurant, sunset viewing lounge areas, a resort-style spa, and a state-of-the-art ...