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928-Foot Tower Planned On Riverfront Parcel

December 9, 2014

KAR Properties has submitted plans to the FAA to build a 928-foot tower on the Miami River, according to records obtained by TNM.

If approved, the tower would reach a height of 933 feet above sea level, making it taller than any other building that currently exists in Miami (although several towers are planned that would break the 1000-foot mark.)

A 605-foot condo project called Cima was once part of a MUSP approved for the site in 2004, known as the Riverfront Parcel. Two condo towers known as Ivy and Wind were built, but the rest of the land remains vacant.

KAR bought the Cima property in 2013 for $27 million. In total, KAR has spent about $60 million assembling the rest of the property in the Riverfront Parcel over the past year, including land that isn’t on the river.

Led by Shahab Karmely, KAR is also planning a 38-story condo in Hallandale Beach.

 

Source:  The Next Miami

 

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