Dec. 03–In a major step in downtown Miami’s redevelopment, the Related Group unveiled plans for three tall towers at 444 Brickell Avenue, including residential, hotel, office and retail space.
The mega-project, dubbed One Brickell, will include three buildings rising 80 stories, 70 stories, and 55 stories, and will encompass more than four-million square feet, including two-million sellable square feet, according to Related.
The Miami-based developer said it expects to close Dec. 9 on the four-acre site, located where Brickell Avenue meets the Miami River. It includes the Rivergate Plaza building, which is home to The Capital Grille, and the parking lot behind it.
Plans call for more than 1,200 residential units, a 200-plus room five-star hotel with meeting and convention space, 200,000 square feet of office space and street level retail, Related said.
Terms weren’t disclosed. The seller is 444 Brickell Avenue Holdings LLC.
In a statement, Related’s chairman Jorge Perez said “This is the most important develoment in the urban core.” He added: “One Brickell is the link that will unify the nieghborhood by bringing pedestrian-friendly walkways from east Brickell all the way to Brickell City Centre. Our vision will meet the robust demand for additional residential, hospitality, and entertainment facilities in the area.”
Related said it has tapped Miami-based Arquitectonica and Pelli Clarke Pelli, based in Connecticut, to design the towers, grouns and common areas.
The significant announcement by Perez comes as Miami’s downtown is already in the midst of massive redevelopment.
In September, Swire Properties Inc. announced details of a dramatic addition to its Brickell CityCentre project with the unveiling of an 80-story, mixed-used tower at the 700 Brickell Ave. location, which it had purchased in July.
Swire plans to include retail and Class A office space, condominiums, and a hotel, plus a restaurant and lounge at the 700 Brickell site, which currently is the Northern Trust Bank tower.
Phase One of the Brickell CityCentre project already well into its construction will include a luxury shopping center, two residential towers, an EAST, Miami by Swire Hotels, serviced apartments, Class-A offices, and a wellness center.
