FAA Approves Height for New Brickell Tower, Clearing a Major Hurdle
In a significant development for the Brickell skyline, the Federal Aviation Administration (FAA) issued a determination this morning stating that the proposed height for a new tower in the area does not present a hazard to air navigation. The determination letter from the FAA specifically noted that the Calle 8 building height of 737 feet above ground level, or 750 feet above mean sea level, is within acceptable limits.
This decision comes after the Miami-Dade Aviation Department initially objected to a greater proposed height. In April, the development team submitted the new height proposal to the FAA, following concerns raised by the county’s aviation officials. A March letter from these officials stated that an earlier proposal for a tower height of 870 feet above sea level would not comply with the airport height zoning regulations, prompting the revision.
The architectural design of Calle 8 is particularly striking, spanning 65 stories. As of this month, the project is progressing through the zoning approval process with Miami-Dade County planners. The plans for the tower include ground floor retail spaces, a performing arts venue or retail complex, and 464 residential units, alongside various amenity spaces.
Millennium Developments of Brickell, the developer behind this ambitious project, aims to contribute a significant new structure to the Brickell area. With FAA approval secured, the development is poised to proceed further, bringing this vision closer to reality.
830 Brickell Secures $565 Million Construction Loan
Miami’s skyline is set to welcome a new architectural marvel this fall as 830 Brickell, a 57-story, 640,000-square-foot Class A+ office tower, nears completion. Securing a $565 million long-term loan from TYKO Capital, this development underscores its significance as a base for many firms establishing their first Miami office, with over 90 percent of the building’s tenants being new to the market.
Designed by the renowned architecture firm Adrian Smith + Gordon Gill and featuring interiors by Italian architecture and design company Iosa Ghini Associati, 830 Brickell stands out as the first stand-alone Class A+ office building in Brickell in over a decade. The tower, developed by OKO Group and Cain International, is already fully leased and is in the process of receiving its Temporary Certificate of Occupancy in phases, with tenants actively building out their spaces.
Since construction began in 2020, leasing rates at 830 Brickell have more than doubled, setting a new high standard for Miami’s office market. Initially, office space was priced between $60-$70 per square foot. Recent leases have closed above $150 per square foot, while the Brickell submarket averages around $100 per square foot. This remarkable increase highlights the tower’s premium appeal and the growing demand for high-quality office space in Miami.
TYKO Capital, a commercial real estate private equity and private credit investment management platform, is a joint venture between Adi Chugh and a Florida-based hedge fund. Established in August 2023, TYKO focuses on institutional borrowers and assets in top-tier markets, investing across the entire capital stack and all asset classes. The successful securing of favorable financing terms for 830 Brickell by TYKO Capital marks a significant milestone for the project.
Vlad Doronin, Chairman and CEO of OKO Group, and Jonathan Goldstein, CEO of Cain International, expressed their excitement: “Our ability to secure favorable financing terms for 830 Brickell is a fitting capstone to the building’s success. 830 Brickell has acted as a catalyst for a historic wave of business migration into South Florida, positioning itself as the base for the world’s premier finance, technology, and professional services firms and propelling an office market that continues to outperform other major cities.”
830 Brickell hosts a roster of top-tier financial, technology, and professional services firms, including Microsoft, Citadel, Kirkland & Ellis, Marsh Insurance, Sidley Austin, CI Financial (Corient), Thoma Bravo, Santander Bank, and A-CAP, among others. Many of these firms are currently building out their interior spaces in anticipation of the building’s completion.
The tower’s amenities will include a top-floor restaurant and bar/private club with menus developed alongside a three-Michelin-starred chef, offering expansive views of the city and Biscayne Bay. Other features include a world-class health and wellness center, conferencing facilities, an outdoor terrace, cafés, and street-level retail. The building is conveniently located near multiple transit options, including Metrorail and Metromover, the Brightline, walking paths, cycling lanes, and bay access points. It is also close to Miami’s top residential and lifestyle neighborhoods such as the Design District, Wynwood, Edgewater, and Miami Beach.
Billionaire Ken Griffin Moves Forward with $1 Billion Mixed-Use Tower in Miami’s Brickell Financial District
Ken Griffin, the billionaire founder and CEO of Citadel and owner of Citadel Securities, is pushing ahead with ambitious plans to develop a $1 billion-plus mixed-use tower in Miami’s vibrant Brickell Financial District. This significant development marks a new chapter for both Citadel and the rapidly evolving Miami skyline.
This week, Griffin’s attorney, Neisen Kasdin, submitted a pre-application for three prominent sites located at 1201 Brickell Bay Drive, 1221 Brickell Avenue, and 1250-1260 Brickell Bay Drive. These sites will collectively host the new headquarters for Citadel and Citadel Securities, reflecting Griffin’s commitment to establishing a substantial presence in Miami.
The proposed tower at 1201 Brickell Bay Drive will feature a mix of office spaces, a luxury hotel, retail outlets, food and beverage venues, and ample parking. This development will be constructed under Miami-Dade County’s rapid transit zoning regulations, a testament to the city’s forward-thinking urban planning. The sites fall within a Metromover subzone added in recent years, enhancing their accessibility and appeal.
In addition to the new tower, preliminary site plans suggest that residential units may be integrated into the existing office building at 1221 Brickell Bay Drive. This blend of commercial and residential spaces is designed to create a dynamic, multi-functional environment in the heart of Brickell.
Griffin has enlisted the expertise of Norman Foster’s renowned London-based architecture firm, Foster + Partners, to bring this vision to life. Philadelphia-based Gattuso Development Partners, led by office developer John Gattuso, is also collaborating on the project.
The Brickell assemblage, spanning approximately 4.2 acres, was acquired by companies linked to Griffin and Citadel for nearly $670 million in 2022. The most notable transaction was the $363 million purchase of the 2.5-acre bayfront lot at 1201 Brickell Bay Drive from the Hollo family’s Florida East Coast Realty. This deal set a record price for the development site.
While the project’s future height will be restricted by Federal Aviation Administration regulations, capping buildings in Miami at 1,049 feet, the development is poised to make a significant impact on the city’s skyline.
Citadel has been steadily expanding its footprint in Miami. Recently, it increased its space at 830 Brickell to a total of approximately 130,000 square feet. Additionally, Citadel and Citadel Securities maintain a presence at the Southeast Financial Center in downtown Miami.
Ken Griffin has also been investing heavily in South Florida’s residential real estate market. He owns several waterfront properties in Miami, Miami Beach, and Palm Beach. The Daytona Beach native’s relocation from Chicago to South Florida includes plans to sell some of his residential properties in Chicago, where he originally built his business empire.
Villa Residences Miami Selects Moss Construction in Waterfront Development
Moss Construction has been selected to oversee the construction of Villa Miami, a groundbreaking luxury waterfront development in Miami’s Edgewater neighborhood. Set to break ground in the summer of 2024, Villa Miami marks the first-ever collaboration between Major Food Group, David Martin’s Terra, and One Thousand Group. Situated at 710 NE 29 St., Villa Miami will stand as a 56-story, 650-foot-tall architectural marvel. Envisioned by ODP Architects under the leadership of rising star Kurt Dannwolf, its distinctive copper color-cladded exoskeletal design is set to make Villa Miami an iconic tower on Miami’s Edgewater skyline.
David Martin, CEO of Terra, expressed his enthusiasm, stating, “We’re thrilled to work with Moss Construction on another landmark project. Villa Miami meets the demand for a luxury condominium tower with full and half-floor vertical residences in a boutique environment. Terra has a proven history of enriching neighborhoods across South Florida and Villa will do the same for Edgewater.”
Ed Baro, Executive Vice President of Moss, echoed this excitement, saying, “Villa Miami is an elegantly stunning concept, and Moss is thrilled to be part of the Terra team once again. We eagerly anticipate the groundbreaking and the realization of this unparalleled residential experience which will change Miami’s skyline.”
The project’s interior design is led by Vicky Charles of Charles & Co., known for her work as the former design director at Soho House and for commissions for the likes of Sony Music, Goop, George and Amal Clooney, Ashton Kutcher and Mila Kunis, as well as David and Victoria Beckham. Renowned landscape architect Enzo Enea is at the forefront of Villa Miami’s green design, incorporating native plants seamlessly into the surrounding landscape.
Moss Construction, under the guidance of Brett Atkinson, brings its wealth of experience, particularly in luxury high-rise developments, having successfully collaborated with David Martin’s Terra on recent projects like the topped-out Five Park Miami Beach set to deliver this year. Global structural design firm DeSimone—whose more than 10,000 building designs include the most recognizable high-rises in New York and Miami—will engineer the impressive structure.
Villa Miami will offer 72 exclusive full and half-floor residences, epitomizing vertical estate-style living with 360-degree water views. Residents will enjoy a plethora of amenities including Major Domo estate manager service, a rooftop helipad, poolside service, spa and wellness facilities, access to a branded beach club, and a fully serviced elevated pool deck. Additionally, the tower will boast an on-site MFG restaurant with private lounge spaces, offering residents preferred reservations, provisioning, and access to at-home MFG chef services.
Exciting New Development in Overtown: One West Twelve Residences
The skyline of Overtown is set to change dramatically with the announcement of a new 22-story development: One West Twelve Residences. This ambitious project is the collaborative effort of PMG, Lion Development Group, and LNDMRK, with architectural design by Cube 3.
One West Twelve Residences promises to bring 372 residential units to the heart of Overtown. Each unit will be delivered finished and furnished, making it an attractive option for buyers looking for a move-in-ready home. Additionally, the development will allow short-term rentals, catering to both long-term residents and short-term visitors. This flexibility is expected to attract a diverse mix of inhabitants, contributing to the vibrant community atmosphere.
The development is a collaboration between three prominent entities in the real estate industry:
PMG (Property Markets Group): Known for their innovative approach and high-quality developments, PMG has a long history of successful projects that blend modern design with functionality.
Lion Development Group: With a reputation for creating impactful urban spaces, Lion Development Group brings a wealth of experience and a commitment to enhancing the living experience in the communities they serve.
LNDMRK: This firm is recognized for its forward-thinking projects that prioritize sustainability and community integration. Their involvement in One West Twelve Residences ensures a focus on eco-friendly practices and community-centric design.
The architectural firm Cube 3 has been tasked with bringing the vision of One West Twelve Residences to life. Known for their cutting-edge designs and attention to detail, Cube 3 is expected to deliver a building that not only enhances the Overtown skyline but also provides a comfortable and aesthetically pleasing living environment for its residents.
The introduction of One West Twelve Residences is more than just a new building; it represents a significant step in the ongoing revitalization of Overtown. The development is expected to boost the local economy, create new jobs, and attract new businesses to the area. It also aligns with the broader efforts to transform Overtown into a thriving, modern neighborhood that respects its historical roots while looking towards the future.
One West Twelve Residences is poised to become a landmark development in Overtown, offering modern, flexible living options in a vibrant community setting. With the combined expertise of PMG, Lion Development Group, LNDMRK, and Cube 3, this project is set to redefine urban living in Overtown, making it an exciting time for current and future residents of the area. Stay tuned for more updates as this project progresses!
1 Southside Park Brickell- Revised Plans Unveiled
The skyline of Brickell is set to receive a significant addition with the ongoing construction of the 1 Southside Park project. The developer behind this massive undertaking has recently submitted revised plans and renderings to the county, showcasing a range of adjustments aimed at enhancing the project’s functionality and aesthetic appeal.
1 Southside Park is a mixed-use development that promises to redefine urban living in Brickell. Among its many components is the residential segment known as Mercedes Benz Places, which is already making strides with a recent foundation pour marking the progress of its first phase.
The revised plans introduce several notable changes:
Increase in Open Space: The updated design incorporates more open space, providing residents and visitors with ample areas to enjoy outdoor activities and relaxation.
Increase in Lot Coverage: There is a slight increase in lot coverage by 6%, optimizing the use of available land.
Reduction in Residential Units: The number of residential units has been reduced by 185, bringing the total to 1,010 units, a 15% decrease.
Reduction in Office Space: The office area has been trimmed down by 11,930 square feet, resulting in a 7% decrease.
Increase in Commercial Space: Commercial space has seen a significant boost, with an addition of 26,129 square feet, representing a 23% increase.
Larger Fire Station: The project now includes a larger fire station to better serve the community.
Overall Reduction in Floor Area: The total floor area has been reduced by 43,453 square feet, making the design more efficient and streamlined.
The newly revised plans outline a structure that will rise to an impressive 61 stories, with a total of 64 levels and a roof height of 780 feet above sea level. Here are the detailed specifications:
Hotel Units: 200 units (no change in unit count, but a reduction in square footage)
Commercial Space: 142,129 square feet (+23%)
Office Space: 153,070 square feet (-7%)
Residential Units: 1,010 units (-15%)
Parking Spaces: 881 spaces (-12%)
Governmental Space: 38,582 square feet (+21%)
The ambitious 1 Southside Park project is being developed by JDS Development Group, a company known for its innovative approach and commitment to excellence. The architectural brilliance of the project is being spearheaded by ODP Architects, who serve as the architect of record.
Miami’s Urban Development Review Board Set to Review 55-Story Tower Proposal in Edgewater
An application for the proposed 55-story tower at 419 Northeast 19th Street in the Edgewater neighborhood has been received by the Miami’s Urban Development Review Board. This project, which was initially filed in October 2023, has been scheduled for review on July 20, 2024, after undergoing several updates and modifications.
The development team for this ambitious project includes:
The property at 419 Northeast 19th Street is owned by a joint venture between SB Development, led by Joseph Stern, and Hazelton Capital Group, based in New York. The development team has formally requested the UDRB to consider their updated proposal at the upcoming meeting.
The project was previously reviewed in October 2023 but was withdrawn before a decision was made. Since then, notable updates include:
Reduction in the Podium Footprint: To lessen the overall mass and aesthetic impact.
Detailed and Articulated Façade: To screen the parking garage.
Green Wall Addition: On the north elevation to enhance interaction with neighboring properties.
Increased Parking Spaces: From 172 to 180.
Climbing Plants: Introduction on the north façade of the podium.
Water Fountain: A new water feature wrapping around the northeastern corner of the ground floor.
Relocation of Northeast Egress Path and Exit Door: To allow for a continuous water fountain around the corner.
The resubmitted plans, which were updated on June 5, 2024, feature a total floor area of 552,604 square feet, accommodating 463 residential units and 444 parking spaces. The units range from studios to four-bedroom apartments, varying in size from 403 to 2,223 square feet. Amenities will be located on the 9th and 10th floors, as well as the rooftop, including a sky lounge, private dining area, prep kitchen, and pool.
The architectural design aims to blend the new structure seamlessly with its surroundings. The tower features a sleek, modern profile with curvilinear lines that give it a distinctive and elegant appearance. The tower’s elevations are characterized by horizontal bands of glass and metal, creating a wave-like effect.
The podium has been designed to respond to the character of the block, which includes an existing residential tower to the north. It will feature climbing plants on the north façade, giving the appearance of a green wall facing the existing apartments. A water fountain wrapping around the façade on the northeastern corner of the ground floor will create an enhanced ground-level experience near the gateway to Margaret Pace Park, helping to create an inviting atmosphere. Additionally, a bronze-colored perforated metal screen wrapping the parking garage will screen internal elements from view and limit the aesthetic impact on the surrounding neighborhood.
The project’s art treatment includes a bronze-colored perforated metal screen that wraps around the parking podium and the ground-floor façade. This screen will be lit from the bottom of each panel to enhance the pedestrian experience. The curved metal in the art treatment will require regular maintenance to ensure its aesthetic quality.
The property, with a gross lot area of 14,277 square feet, is located within the T6-36B-L transect zone, allowing for a mix of residential and commercial uses. The project seeks seven waivers, including reductions in required setbacks, drive aisle width, and parking stall length. It also requests a 30% reduction in parking needed due to its location within the Transit Oriented Development area and the Urban Central Business District overlay. Additionally, waivers are requested to allow above-ground parking in the second layer and to eliminate pedestrian entrance spacing requirements.
The proposed 55-story tower at 419 Northeast 19th Street promises to be a significant addition to the Edgewater skyline. With its sleek design, enhanced ground-level experience, and extensive amenities, it aims to provide a modern and inviting living space for future residents. The UDRB’s upcoming review will be a critical step in determining the project’s future.
Introducing 14 ROC Miami: A New Condo Tower by GFO Investments
GFO Investments is excited to announce the launch of sales for their latest condo tower, 14 ROC Miami. This impressive 32-story development promises to be a landmark in the city’s skyline, offering modern living spaces with a flexible rental policy that suits a variety of lifestyles.
The 14 ROC condo tower will feature a total of 283 units, providing ample options for potential homeowners. These units range from cozy 410-square-foot studios to spacious 964-square-foot apartments, ensuring there’s something for everyone. Prices for these stylish units start at $495,000, making 14 ROC an attractive option for both investors and residents seeking a blend of luxury and convenience.
RSP Architects, a firm renowned for its innovative and sustainable designs, is at the helm of 14 ROC’s architectural design. The interiors of the condo tower will be crafted by March and White Design, known for their sophisticated and contemporary aesthetic. To complement the sleek interiors, Urban Robot Associates will be designing the landscape, ensuring that the outdoor spaces are as inviting and beautiful as the interiors.
GFO Investments has a proven track record of delivering high-quality developments. Their recent project, Gale Miami Hotel & Residences, opened on July 1 and has already received rave reviews for its luxurious amenities and prime location. The success of Gale Miami Hotel & Residences sets a high standard, and 14 ROC is poised to continue this tradition of excellence.
Prosper Group’s Ambitious Plans for Luxury Condo Towers in Miami-Dade
Prosper Group, a development firm led by Jay Roberts, is making significant moves in Miami-Dade County with plans for luxury condo towers and is under contract to acquire two prime sites in the area.
Prosper Group has inked a contract for a development site in Brickell at 1040 South Miami Avenue in Miami for $40 million. This 0.6-acre property was previously slated to become a Virgin Hotel with a co-living component, a project spearheaded by Richard Branson’s Virgin Hotels and Blue Jay Capital. However, those plans fell through. Roberts signed the contract for the property in June and expects to close the purchase in the first half of 2026. The property is currently owned by FX South Miami LLC.
Roberts envisions partnering with a local condo developer to construct a condo-hotel with up to 300 residential units, aiming to build “the healthiest building in Miami.” The site is also part of a proposed expansion of Miami-Dade County’s rapid transit zone, potentially allowing for increased residential density.
In North Bay Village, Prosper Group is under contract to buy adjacent properties at 1681 and 1725 Kennedy Causeway for $30.5 million. These properties are immediately west of Ian Bruce Eichner’s planned Continuum Club and the Shuckers site, which Eichner’s firm recently acquired for redevelopment. Prosper plans to close on these sites later this year and will work with developer John Jacobson, known for co-developing the Six Senses resort in Ibiza.
The North Bay Village assemblage will be developed into a luxury condo tower with up to 147 units, including a waterfront restaurant. Presales for this project could launch in the first half of next year. Property records show that 1681 North Bay Village LLC, led by Tharani Haresh, and 1725 Kennedy Causeway Owner LLC are the sellers.
These projects mark Prosper Group’s first developments in South Florida. The Miami Beach-based firm is also co-developing a $600 million condo-hotel in Tampa called Ora Hotel and Residences. With these acquisitions, Prosper Group is poised to make a significant impact on the South Florida real estate market.
North Bay Village is experiencing a development surge. In addition to Prosper Group’s plans, Ian Bruce Eichner has multiple projects in the pipeline, Mikael Hamaoui’s Riviera Horizons is planning a Pagani-branded condo building, and Related Group and Macklowe Properties are assembling land for a phased luxury condo development. Additionally, the Ansin family’s Sunbeam Properties is planning a major mixed-use development north and south of the 79th Street Causeway.
Prosper Group’s ambitious plans for luxury condo towers in Brickell and North Bay Village signal a strong entry into the South Florida market. With a focus on high-end developments and strategic partnerships, Jay Roberts and his team are set to reshape the skyline and offer new luxury living options in these prime locations.
Fortune International Group Secures Pre-Development Loan for ORA by Casa Tua in Brickell
Fortune International Group, a prominent Miami-based developer, has made a bold move by acquiring a prime 46,373-square-foot site at 1210 Brickell Ave in the heart of Brickell. This acquisition is a crucial milestone for the ORA by Casa Tua project, further supported by a substantial $36,080,000 pre-development loan from Amerant Bank. The project, set to redefine luxury living in Miami, is now on track for its groundbreaking in 2025.
The site was purchased from Miami-based Patagonian Investment Internacional LLC, and the developer is now gearing up for the construction phase, with groundbreaking expected to commence in 2025.
ORA by Casa Tua is set to be a landmark development in Miami, standing at 77 stories and approximately 930 feet tall. The building, designed by Arquitectonica with interiors by m2atelier, will feature 533 fully furnished residences available for short-term rentals. This ambitious project aims to embody Miami’s dynamic and evolving spirit, establishing itself as a prime destination in the city.
The development will also include approximately 25,000 square feet dedicated to Casa Tua’s four new restaurant concepts. Additionally, it will feature creative workspaces with private office spaces, conference rooms, content creation rooms, bar lounges, and outdoor seating areas.
Edgardo Defortuna, President, CEO, and founder of Fortune International Group, expressed his excitement about the project: “The acquisition of the site and loan closing are principal steps that mark an exciting beginning for ORA by Casa Tua’s vision to take shape. We are eager for Miami’s community to sense the anticipation and witness the project come to life.”
ORA by Casa Tua promises a range of luxurious amenities, including a second pool on the 12th floor with a sun shelf, loungers, cabanas, a jacuzzi, a show kitchen, a private event space, and lush landscaping. Residents will also enjoy an entertainment lounge, a two-floor fitness and wellness center with a hammam and couples treatment rooms, and a unique three-story open sky garden.
The residences will range from 500-square-foot studios to 2,400-square-foot four-bedroom units, all fully furnished and ready for immediate listing as short-term, seasonal, or long-term rentals. These units will offer stunning panoramic views of Brickell, Biscayne Bay, and Coconut Grove, featuring ten-foot ceilings with floor-to-ceiling windows and curated window treatments. The Italian-designed kitchens will be equipped with top-tier appliances, and the Italian-designed baths will include imported fixtures. Additionally, the residences will be outfitted with smart home technology and spacious walk-in closets.
Casa Tua, founded by Miky and Leticia Grendene, opened its flagship Miami Beach location in 2001. It quickly became known as a welcoming place for friends, family, and guests from around the world to celebrate life. Pioneering the members club concept in Miami, Casa Tua blends art, entertainment, and fine dining with a signature Italian style. Over the years, it has expanded to Aspen and Paris, with a New York City location opening in 2023. The brand also launched Casa Tua Cucina in partnership with Richard Baker and Saks Fifth Avenue, an award-winning Italian open kitchen concept located in Miami’s Brickell City Centre.
ORA by Casa Tua is poised to add to this legacy, offering a unique blend of luxury living and innovative design that reflects the vibrant spirit of Miami. As the project progresses, it will undoubtedly become a cornerstone of the Brickell skyline and a testament to Fortune International Group’s vision and commitment to excellence.
