Major Development Proposal for a 544-Unit Residential Tower in Miami’s Brickell District
Miami’s Brickell area continues to evolve as a focal point for urban development, with a new proposal for a significant residential tower on the former site of the Mexican Consulate. The developer, Chilean entrepreneur Claudio Fischer, has submitted plans for a 41-story building that will house 544 residential units, along with retail and parking facilities.
Development Overview
- Location: Northeast corner of Southwest First Avenue and Southwest 14th Street
- Size: 1-acre site
- Units: 544 residential units
- Retail Space: 9,400 square feet on the ground floor
- Parking: 421 spaces
Properties Involved
The project incorporates the following addresses:
- 68, 82, and 84 Southwest 13th Street
- 1399 Southwest First Avenue
Developer Details
The application was filed by Fischer’s affiliate, CF TSG Brickell, which has initiated a pre-application meeting with Miami-Dade County officials. This step allows developers to gather preliminary insights on the proposal before proceeding with an official application.
Claudio Fischer, who has gained recognition in the casino resort market through his company Sun Dreams, purchased the site for $53 million in 2020. Although primarily known for his ventures in Latin America, Fischer is making his mark in the South Florida real estate scene.
Key International’s Involvement
The Ardid family, known for their work in Brickell through Key International, signed a memorandum in December to explore acquiring the development site from Fischer. The firm’s notable projects include:
- Ivy: 504-unit tower
- Mint: 530-unit tower
Key International’s portfolio boasts 6,000 condos and apartments and includes management of 3,000 hotel rooms valued at approximately $2 billion.
Proximity to Public Transit
The proposed site falls within the Metromover Subzone of Miami-Dade’s Rapid Transit Zone. This classification often facilitates larger developments due to its proximity to public transit options.
Recent Activity in Brickell
The Brickell area is buzzing with new developments. Recent projects include:
- Empira Group: Secured a $111.3 million loan for a 26-story, 310-unit apartment tower at 244 Southwest Ninth Street.
- PMG: Acquired $413 million to develop One Twenty Brickell Residences, featuring a 37-story condo tower and a 41-story apartment tower.
- Prosper Group and Forte Development: Proposed an 80-story mixed-use tower at 1040 South Miami Avenue, which includes residential and hospitality components.
Conclusion
The proposed 544-unit residential tower on the former Mexican Consulate site signifies Miami’s ongoing transformation and attractiveness for developers amid a booming real estate market. With a mix of residential units, retail space, and parking, this development aims to meet the increasing demand for urban living in one of South Florida’s most vibrant neighborhoods.
For more information on Brickell’s real estate boom, visit Miami-Dade Government or check out ongoing projects at The Real Deal.