Russian oligarch Vladislav Doronin's OKO Group bought up the land and much of the entire block in 2014 in a stunning $42 million shopping spree, leaving many to wonder what he was up to. 

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The answer is Missoni Baia. The tower will stand 649 feet tall and stand on a lot with 200 feet of Biscayne Bay frontage. In all, 146 units, ranging from two to four bedrooms, will populate the building. Residents will enjoy amenities like cabanas, an Olympic-size lap pool, an infinity pool, tennis courts, a spa, and a gym. 

Missoni, the fashion house best known for finding new and innovative ways to put rainbow-colored chevron patterns on clothing for the past six decades, will lend its touch to interior design and branding. We suspect it will involve, well, lots of rainbow-colored chevrons. New York-based interior designer Paris Forino will bring the insides all together. 

New York-based Asymptote Architecture will handle the tower's design. The firm is best known for combining cutting-edge technology with modern architecture. In fact, it's the firm behind plans for the infamous Miami Media Tower that has caused so much controversy and has been dismissed by some critics as nothing more than a fancy billboard. No renderings have been released for what exactly they have in mind for the bayfront tower. 

Missoni Baia is just the latest luxury condo planned for the rapidly changing Edgewater. It will join neighbors Icon Bay, Bay House, Paraiso Bay, and probably a half-dozen other overpriced towers with the word "Bay" in the name.