if you have driven by the Brickell CityCentre lately, you will see that the hotel, East, is in construction overdrive! What a great choice for an anchor restaurant and for all of the Brickell Area!!
Swire Properties President Stephen Owens told a forum last week that ‘there’s no question’ that sales of condos at Brickell City Centre have slowed down.
Owens told the audience that the market is ‘at half the pace’ compared to last year. He blamed it on more discerning buyers, and said that it was a sign of a healthy market. His comments were reported by The Real Deal.
As of March, 17% of units at Swire’s Brickell City Centre RISE condo tower has been sold. That compares to nearly 80% sold at REACH, which launched sales earlier.
Dezer Development president Gil Dezer echoed Owens’ sentiments last week, saying that ‘there’s the same number of buyers’ as before, but more projects. He also said that it was now a healthier market, and that it wasn’t ‘normal or stable’ when units were selling out as fast as they were last year.
23,500 condominiums — 5,300 apartments — 6,000 hotel rooms — 3.5 million sq. ft. of office space — 4.0 Million sq. ft. of retail…..All within the Greater Downtown Miami area….
Click on the link to see where they plan to put all that “stuff”.
Arquitectonica-designed tower planned at 700 Brickell
The Arquitectonica-designed high-rise would serve as the entrance to the Brickell CityCentre project currently under construction on both sides of Miami Avenue, immediately west of the 700 Brickell site.
The tower, to be called One Brickell CityCentre, will include retail, Class A offices, condominium units, and a hotel with a restaurant and lounge, according to a statement released Friday. The plan also envisions grand plazas and retail shops connected to Brickell City Centre.
Upon its completion in 2015, Brickell CityCentre will comprise a luxury shopping center, two residential towers, the EAST Miami hotel by Swire Hotels, serviced apartments, a wellness center and Class A offices.
Swire Properties intends to work with the city of Miami to have One Brickell CityCentre approved as an extension of the existing Special Area Plan. The site is currently home to Northern Trust Bank, which had an interest in the sale of the property.
“In creating the vision for One Brickell City Centre, we are mindful of the legacy of the sellers of 700 Brickell Avenue, heirs of the pioneer Brickell family and Northern Trust Bank, a great corporate citizen,” Swire Properties President Stephen Owens said in a statement. “Our goal is to develop a structure that will be artful in its mix of uses and will advance Brickell Avenue’s stature as Miami’s premier destination.”
“One Brickell CityCentre is a tower that, by its design and dramatic contours, creates views above the current Miami skyline,” Arquitectonica principal Bernardo Fort-Brescia said in a statement. “With sightlines that stretch from land to sea, the building’s glow will act as a welcoming lantern for downtown Miami and a portal to Brickell from all approaches.”
Owens told the Business Journal in August that Swire may hold off on developing the siteuntil after the Brickell CityCentre project is complete.
Oscar Pedro Musibay Miami Business Daily