Winter 2004 – Brickell’s boom: An update on development

It’s not news that construction in the Brickell corridor is booming with more than a dozen major projects underway and nearly as many in the planning stages. One only has to drive two and a half miles north along the Brickell Avenue/Biscayne Boulevard corridor from 25th Road to the Miami Arena to see it firsthand.

BHA News featured a rundown of the projects in a 2002 issue, and many readers now regularly request an update. With the enormous assistance of the Downtown Development Authority, the following pages provide the vital statistics, as supplied by developers to DDA, about projects in the Downtown-Brickell area south of Miami River, starting with those under construction followed by those which haven’t yet broke ground.

A remarkable 5,548 residential units (752 rental and 4,796 condo) are currently under construction, along with 300,000 square feet of retail space and the same amount of commercial space. Add to that nearly 10,000 residential units in the planning and permitting stages, 620,000 square feet in retail space and more than one million square feet in commercial space. This is on top of the 4,364 new residential units the DDA reports have been added since 1995, along with 160,000 square feet in retail space, 920,000 square feet in commercial space and nearly 900 hotel rooms. Prior to ’95, the BHA counted 5,100 units in its membership of 26 condo associations so, if everything gets built that’s planned, the number of residential units in the area will surpass 25,000 units. Definitely booming!

Projects south of Miami River, as of March 2004:

Under Construction

Jade Residences at Brickell Bay

Location: 1295 Brickell Bay Drive

Developer: Fortune International Development and Swire Properties

Type: Condominium

Units: 340

Floors: 48

Number of Bedrooms: 1, 2, 3 & 4

Unit Sq. Ft. Range: 900 – 6,000

Price Range: $400,000- $5 million+

Project Cost: $295 million

Description: Residential, retail and office development. Amenities include nine-foot high ceilings in tower residences and 18-foot high ceilings in bay lofts; full-service business facility; concierge service; cabanas overlooking the bay, racquetball court; a 31,000-square-foot recreation area to include a European spa and fitness center, infinite edge pool, wading pool, whirlpool and landscaped sundeck.

Completion: Fall 2004

Skyline

Location: 2101 Brickell Avenue

Developer: Skyline Equities Realty

Type: Condominium

Units: 360

Floors: 38

Number of Bedrooms: 1, 2 & 3

Unit Sq. Ft. Range: 791- 1,762 plus terraces

Price Range: $225,000-$1 million+

Description: Residential. Units feature floor-to-ceiling windows, terraces, granite countertops, marble baths; high-tech gymnasium; business center; onsite valet; party room; retail areas; pool deck with Jacuzzi and volleyball courts.

Completion: 2004

Park Place at Brickell

Location: 1440 Brickell Avenue

Developer: Rilea Group

Type: Condominium & Rental

Units: 372 & 418

Floors: 36 & 40

Number of Bedrooms: Studios, 1, 2 & 3

Units Sq.Ft. Range: 550-1,500

Price Range: TBA

Description: Residential and retail development. Amenities include a garden plaza, three swimming pools, tennis courts and gym.

Project Cost: $150 Million

Completion: Winter 2007

The Sail

Location: 170 SE 14th Street

Developer: Renzi Development

Type: Condominium

Units: 152

Floors: 29

Number of Bedrooms: 1 & 2

Unit Sq. Ft. Range: 700-1,400

Price Range: $210,000-$400,000

Description: Residential and retail development. Amenities include fitness center, pool, parking garage and 24-hour security.

Project Cost: $26 million

Completion: Spring 2005

Brickell on the River

Location: 27 SE 5th Street

Developer: Groupe Pacific Int’l.

Type: Condominium

Units Phase 1: 384

Units, Phase 2: 328

Floors, Phase 1: 43

Number of Bedrooms: 1, 2 & 3

Unit Sq. Ft. Range: 800-1600

Price Range: $200,000-$600,000

Description: Residential and retail development. Amenities include swimming pool, tennis court, gym, spa.

Project Cost: $200 million

Completion: Winter 2005

Mary Brickell Village

Location: 900 S. Miami Avenue

Developer: Constructa US

Type: Rental

Units: 382

Floors: 32

Number of Bedrooms: 1, 2 & 3

Unit Sq. Ft. Range: 750-1,600

Price Range: TBA

Project Cost: $150 million

Description: 200,000 sq. ft. retail center and professional offices combined with a 382-unit luxury residential tower. Anchor stores include Publix Super Market, Bally Total Fitness, PF Chang’s China Bistro, Oceanaire Seafood Room, Redstone American Grill.

Completion: Spring 2005

Carbonell

Address: 681 Brickell Key Drive

Developer: Swire Properties Inc.

Type: Condominium

Floors: 40

Units: 284

Number of Bedrooms: 1, 2, 3 & 4

Unit Sq.Ft. Range: 1,031 – 2,860

Price Range: $370,000-$2 million

Project Cost: $198 million

Description: Residential development with amenities including pool, concierge, valet parking, tennis courts, adjacent to retail shops, restaurants and gourmet grocery.

Completion: Spring 2005

Emerald at Brickell

Address: 218 SE 14th Street

Developer: Emerald Development Group LLC

Type: Condominium

Floors: 27

Units: 142

Number of Bedrooms: 1, 2 & 3

Unit Sq. Ft. Range: 812 – 2,724

Price Range: $300,000 – $1 million

Description: Residential development. Amenities include rooftop pool, parking, fitness area, 4 penthouse levels.

Project Cost: $31 million

Completion: Winter 2005

Brickell View

Location: 30 SW 12th Street

Developer: BAP Development

Type: Condominium

Units: 323

Floors: 37

Number of Bedrooms: 1 & 2

Unit Sq. Ft. Range: 800 – 1100

Price Range: $180,000 – $500,000

Project Cost: $47 Million

Description: Residential and retail development

Completion: Winter 2004

The Club at Brickell Bay

Location: 1200 Brickell Bay Drive

Developer: Brickell Bay Plaza, LLC

Type: Condominium

Units: 645

Floors: 43

Number of Bedrooms: Studios, 1, 2 & 3

Unit Sq. Ft. Range: 410 -1,202

Price Range: $175,000 – $500,000

Description: Residential and retail development. Amenities include pool, parking garage, health club, 24-hour security, shops and restaurant.

Completion: Spring 2004

Espirito Santo

Location: 1395 Brickell Avenue

Developer: Estoril, Inc.

Type: Condominium

Units: 116

Floors: 36

Number of Bedrooms: Studios, 1, 2 & 3

Unit Sq. Ft. Range: 461 – 2,841

Price Range: $ 214,000 – $ 1.6 Million

Hotel: Conrad Hilton

Hotel Rooms: 203

Project Cost: $160 Million

Description: Residential, hotel, retail and office development. Amenities include fitness club, sky lobby, parking garage, pool, two tennis courts, whirlpool and sundeck.

Completion: Spring 2004

Planned Projects

The following projects are various stages of permitting with projected dates for breaking ground supplied for each.

Brickell City Center

Location: 901 Brickell Avenue

Developer: The Related Group & Brickell City Center, LLC

Type: Condominium & Rental

Condo Units: 440

Rental Units: 560

Floors: 46 & 55

Number of Bedrooms: 1, 2 & 3

Condo Price Range: $200,000 – $800,000

Rental Price Range: TBA

Project Cost: $300 Million

Description: Residential, retail and office development. Amenities include two pools, Two restaurants, valet- parking, health spa & exercise room, business center, concierge, 24-hour security and more.

Construction Date: Summer 2004

Millennium Residential & Retail

Location: Five parcels located between SE & SW 8th Street, north to the Miami River, along South Miami Avenue.

Developer: Millennium Partners

Description: Residential and retail development encompassing 12 acres, with expected development of approximately 4 million sq. ft.

Status: Preliminary stages of Density and Design

Brickell Station

Location: 1101 SW 1st Avenue

Developer: KV Brickell Partners Limited

Type: Condominium

Floors: Two 36 story towers

Units: 718

Number of Bedrooms: 1, 2 & 3

Unit Sq. Ft. Range: 850 – 1,500

Price Range: $225,000 – $425,000

Project Cost: $125 Million

Description: Residential and retail development. Amenities include a pool, fitness center, shops, restaurant and 24-hour security.

Construction Date: Winter 2004

Coral Station at Brickell Way

Location: Between SW 13th St. & 15th Rd., fronting on SW 1st Ave.

Developer: BVT Development Corporation, Taylor Development Land Co. & Wood Partners Inc.

Type: Condominium & Rental

Units: 365

Floors: 28 & 17

Number of Bedrooms: Studios, 1, 2 & 3

Unit Sq. Ft. Range & Price: TBA

Project Cost: $100 million

Description: Residential, retail and office development. with a pool, fitness center, restaurant and 24-hour security.

Construction Date: Spring 2004

1390 Brickell Bay

Location: 1390 Brickell Bay Drive

Developer: South Bayshore Tower, Inc.

Type: Condominium

Floors: 39

Number of Units: 323

Number of Bedrooms: Studios, 1 & 2

Unit Sq. Ft. Range: 536 -1431

Price Range: $209,000–$1 million+

Description: Residential and retail with amenities including two pools, health club, parking, coffee shop and restaurant.

Project Cost: $92 million

Construction Date: Spring 2004

The Beacon

Location: 801 Brickell Plaza

Developer: Renzi Development

Type: Condominium

Floors: 39

Units: 250

Number of Bedrooms: 1& 2

Unit Sq. Ft. Range: 700 – 1,800

Price Range: $ 240,000 – $ 600,000

Description: Residential and retail with restaurants, pool/spa, 2 parking space per unit.

Project Cost: $40 Million

Construction Date: Summer 2004

The Residences at Brickell

Address: 170 SE 12th Terrace

Developer: The Related Group of Florida

Type: Rental

Floors: 22

Units: 138

Number of Bedrooms: 1, 2 & 3

Unit Sq. Ft. Range: 770 – 1,685

Price Range: TBA

Description: Residential and retail development. Amenities include business center, clubroom, health club, food emporium, sauna, pool and spa.

Project Cost: $28 million

Construction Date: Spring 2004

Infinity at Brickell

Location: 60 SW 13th Street

Developer: Colonial Development Group, LLC.

Type: Condominium, office & retail

Units: 433

Floors: 52 stories

Number of Bedrooms: Studios, 1 & 2

Unit Sq. Ft. Range: 560-1,200

Description: Luxury condominium featuring “sky lofts” of open space with pool on 10th level deck with gym overlooking.

Construction: Fall/Winter 2004

North of Miami River

Activity is brisk north of the Miami River and in the Central Business District.

Under Construction

One Miami at 205 South Bayshore Blvd. with 896 units

Flagler First Condominiums at 101 East Flagler Street with 90 condo units

Capital Lofts at the Security Building, 117 NE 1st Avenue with 62 condominium units

Planned

Miami River Village located along the north side of the Miami River between the South Miami Avenue Bridge and Metrorail with 1,800 condo units and 800 rental units planned.

River House Lofts at 350 W. Flagler, 170 units

Metropolitan Miami, at 200 & 300 SE 3rd Street and 200 SE 2nd Street with 897 rental and condo units planned

The Loft, 234 NE 3rd Street, 196 condo units.

The Loft II, 200 NE 2nd Street with 496 condo units planned.

Everglades on the Bay, 244 Biscayne Blvd., with 866 condo units planned

Mist, 888 Biscayne Blvd. with 516 condo units planned

Ten Museum Park, 1040 Biscayne Blvd, with 200 condo units planned

From BHA News, Winter 2004, Vol. XIV, No. 1