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Condo-sorption: Exactly How Many Units Can Downtown Miami Handle?

October 2, 2013

Swire Properties’ planned One Brickell CityCentre tower would be the 40th highrise with condos proposed for Miami’s Brickell neighborhood since 2007, according to a report.

Condo Vultures is reporting that the 1.6-acre site currently allows for more than 400 condos.

The 80-story One Brickell CityCentre is planned on a 1.6-acre site at 700 Brickell Ave. that was acquired for $64.1 million – or nearly $950 per square foot in July.

“Back in October 2008 as the U.S. financial system was on the brink of collapse, Swire Properties paid $41.2 million – or $169 per square foot – for 5.6 acres of undeveloped that would ultimately become the heart of the proposed Brickell CityCentre project on South Miami Avenue between Seventh and Eighth streets,” according to Condo Vultures.

With Swire Properties’ newest tower, more than 12,000 units have been proposed in downtown Miami as of September 29, according to Condo Vultures.

 

Source:  SFBJ

 

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