New Boutique Development Proposed at Champlain Tower South Site by DAMAC Properties
Plans for a beachfront luxury condo complex by Zaha Hadid Architects were submitted by the Dubai developer who purchased the Surfside site last summer.
After the collapse of Champlain Tower South in 2021, the property was listed for sale. Damac purchased the property for $120 million in 2022.
According to a corporate news release, Hussain Sajwani-led Damac Properties plans to erect a 2 tower (each with 12-stories) boutique buildings with 57 units on the 1.8-acre site at 8777 Collins Avenue. Renderings for the property show a 100 foot rooftop glass-bottomed pool that will connect the two towers.
Two significantly different building designs were produced by the late Pritzker Prize-winning architect’s company, reflecting two slightly different interpretations of the Surfside town code. According to renderings, one of the ideas is set back on the project’s south side. The second plan shows a structure without a stepped-back façade.
The statement mentions unit sizes ranging from 4,000 to 15,000 square feet. The amenities will feature a rooftop pool with an indoor exercise pool. It was initially intended to be a Cavalli-branded structure. Damac is currently seeking other brands to collaborate with on this new project.
Today Marks One Year Since the Deadly Champlain South Tower Collapse
Photo credit: NPR Illinois
Today marks one official year since the deadly Champlain Tower South Surfside Collapse. Since that time, this tragic event has reached so many across Florida as well as the United States. Not only has it reached many families and friends, but it has caused a need for change within local governments, condo safety, and protocol.
On June 24, 2021, around 1 am, residents began noticing the Champlain Tower South shaking, and within just a few seconds, the building partially collapsed destroying 55 units as well as taking countless lives. During the first signs of the collapse, Rescue crews began racing to the scene to search for survivors.
*The deadly collapse resulted in 98 lives lost. As of May, it was announced that the payout to the survivors has resulted in a $1.02 billion split amongst the families.
In October 2021, the site was put up for sale to cover legal fees, expenses, and other fees associated with the collapse. The site was listed for $95.6 million. Right after the property was listed, billionaire real estate developer Hussain Sajwani offered $120 million with the stipulation that he would obtain possession by the spring of 2022 to begin construction on a luxury high-rise.
In May 2022, Sajwani (DAMAC Properties), announced his plans to build a luxury tower, Cavalli Tower. This tower will resemble the Cavalli Tower that DAMAC is currently building which will be completed in 2025. The units would begin at $4.5 million once complete.
During the same time in May, Legislation that prohibits associations from waiving reserve requirements mandates 30-year inspections of condo structures three floors or taller, or 25 years if within three miles of the shore, and mandates reserve studies including structural components were passed by Florida lawmakers. Associations will have to undergo another recertification procedure ten years after the initial inspections. Condominium boards and their members may also be held accountable under the law for non-compliance.
June 23, 2022-One of the last steps before the litigation due to the collapse is over the impending sale to DAMAC. Judge Michael Hanzman approved the $1.02 billion class-action settlement and the condominium termination in court on Thursday (a technical process required for Damac to close on the land). The year-long process to settle the lawsuit was discussed by the judge, the lawyers, the survivors, and those who lost loved ones.
Cavalli Tower Proposed at Champlain Tower South Site
DAMAC Properties recently announced that it has officially received approval to purchase land in the Surfside neighborhood of Miami in a $120 million deal. This land is none other than the site where the Champlain Tower South deadly collapse occurred just last year. DAMAC Properties intends on building a luxury branded tower on the site, Cavalli.
The site itself is located at 8777 Collins Ave Surfside featuring 1.8 acres and was sold to DAMAC through a court process and without any other competing bids on the property.
Prior to DAMAC taking an interest in the site, it was listed for $95.6 million. Sajwani offered the $120 million with the stipulation that he would obtain possession by the spring of 2022. One of the other stipulations was that Sajwani had to pay a $16 million deposit to make the contract valid.
Hussain Sajwani, Founder and Chairman of DAMAC Properties stated, “DAMAC Properties has long been eyeing development opportunities in Miami. We see the city, which is known for being a luxury and fashion centre, as a natural fit for our Company, which has an established reputation for its branded luxury offerings.”
While this is Sajwani’s first United States development, he has an extensive portfolio with establishments of his company in global cities like Dubai, Abu Dhabi, Amman, Baghdad, and London. Sajwani has heavily invested in luxury fashion, real estate, hospitality, and manufacturing.
According to Sajwani, “Our global expansion into the United States marks a major milestone and demonstrates that DAMAC is a force to be reckoned with. This is an exciting time, and we have a lot in store.”
