40th Condo Tower Proposed For Greater Downtown Miami Since 2007 Crash

Rendering of planned Brickell CityCenter,  Downtown Miami, FL

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.