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| Rendering of planned Brickell CityCenter, Downtown Miami, FL |
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| Josh Merkin |
MIAMI, FL -- As the South Florida condo market increasingly
rebounds from the last real estate crash to devastate the tri-county region,
the Hong Kong-based development company Swire Properties has announced plans
for what amounts to the 40th new condo tower proposed for Greater Downtown
Miami since 2007, according to a new report from CondoVultures.com.
Swire Properties has unveiled plans to add a fourth new
condo tower with fewer than 400 additional units to its previously proposed
nearly $1.1 billion Brickell CityCenter mixed-use complex with seven
towers and 5.4 million square feet of "gross floor area" in the
Brickell Avenue Area of Greater Downtown Miami, according to company statement.
"Under Miami 21 zoning, residential development of the One
Brickell CityCentre site would be permitted as of right and would allow
over 400 units to be developed," said Brickell CityCentre spokesman Josh
Merkin of RBB Public Relations. "Swire’s development plan for One
Brickell CityCentre is yet to be finalized but will include fewer residences
than a stand-alone condominium tower."
The newest tower is slated stand 80-stories tall on a
1.6-acre site located at 700 Brickell Ave. that was acquired for $64.1 million
- or nearly $950 per square foot - in a deal that transacted on July 15, 2013,
according to Miami-Dade County records.
For a complete copy of the company’s news release, please
contact:
Condo Vultures® LLC
225 Midtown Building
225 NE 34th St.,
Suite 209B,
Downtown Miami, Florida, 33137.
1-800-750-0517.
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