1414 Brickell LLC, under the leadership of Walter Defortuna, has filed a pre-application with Miami-Dade County to redevelop a mixed-use site that would include 81 stories.
Should the plans materialize, the property on Brickell Avenue would become Miami's largest tower — standing at 1,010 feet, according to a report from the South Florida Business Journal. The current setup includes a 10,927-square-foot retail building and a 7,065-square-foot restaurant in another building.
The re-development would encompass 1.21 acres of land and a 1.83 million square foot tower. It would consist of 117,310 square feet of office space, 43,700 square feet of hotel space, 560 multifamily units, and 6,038 square feet set aside for retail. The residential units, which would begin on the 25th floor will range in size. For example, studios will be 533 square feet, with three bedrooms at 1,907 square feet. The hotel rooms will take up the 20-24 floors, with office occupying the 13-17 floors.
Some amenities include pools, a gym/spa, and a bar — all can be found on the 12th floor. Plus, there would be a parking lot that can fit 1,226 cars.
While South Florida has been one of the leading regions in the country for office revival, Miami is in a slump. In fact, the metro area has seen just over 2.5 million square feet of leases in the year-to-date through September, according to a report from Avison Young. That would mark one of the slowest years since the pandemic.
Currently, the largest tower in Miami is the Panorama Tower at 868 feet.