Brickell City Centre Construction Set to Begin
Earlier this week, The Miami Herald reported that Swire Properties has closed on a $140M line of credit which would allow them to fund the initial construction of Brickell City Centre, a $1B mixed-used development to be located just north of Mary Brickell Village along 8th Street. There’s no doubt that the addition of Brickell City Centre to the neighborhood will have a profound impact on Brickell and that real estate values in the immediate area will be positively impacted. The residential component of Brickell City Centre will be comprised of two towers: Brickell City Centre Reach and Brickell City Centre Rise.
The first phase of Brickell City Centre is expected to be completed in late 2015 and will include about 4.3 million million square feet. Plans call for 520,000 square feet of retail shops, 800 condominium units divided between two towers, a hotel with 243 rooms, two small office towers of 110,000 square feet each and 93 full-service apartments. The first phase will also include 3,100 parking spaces and design feature known as the “Climate Ribbon” that will provide a covered walkway to navigate the project. The second phase calls for an office tower of 750,000 square feet that will be built as market conditions permit.