Swire Proposes First Supertall in Brickell Key
By Julia Echikson January 9, 2023 7:37 pm
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Swire Properties is bringing the supertall formula to Brickell Key, a wealthy residential island off of Miami’s financial district, filing a proposal with the Federal Aviation Administration in late December.
The plans call for two towers: one 1,049 feet tall, making it a supertall skyscraper, and the other rising 700 feet. Both would be located at Brickell Key Park, at the enclave’s southern tip.
The Miami-based developer has owned the 2.4 acre-park since 1997 and has developed much of the man-made triangular island, adding luxury condo towers, whose units typically sell for millions of dollars.
The park is zoned for residential use, but Swire’s exact plans for the land remain unclear. The application provides no detail about the development, other than its height.
“Swire Properties Inc. continues to be an active developer and explores potential new opportunities regularly,” said a spokesperson for the company, who declined to provide details about the development.
Across the water in Brickell, Swire, which is the U.S. real estate arm of the Hong Kong-listed multinational corporation, is developing another supertall skyscraper, also 1,049 feet tall, in partnership with Stephen Ross’ Related Companies.
The office project – called One Brickell City Centre, situated next door to the massive mixed-use complex that Swire completed in 2016 — is expected to break ground this year, rising 80 stories. For One Brickell, Swire first filed for approval with the FAA in 2015 — a requirement for tall skyscrapers in Miami because of Miami International Airport’s proximity to the city’s downtown area.
Supertall developments are part of a growing trend in Miami, as land prices have skyrocketed during the pandemic, and high-profile developers look to leave a mark on the Magic City’s skyline.
In November, PMG broke ground on the first tower above 1,000 feet, a 1,049-foot tall building along Biscayne Boulevard in Downtown Miami. Other supertall developments by Michael Stern’s JDS Development, Florida East Coast, and the Okam Group, among others, are in the works.
Julia Echikson can be reached at jechikson@commercialobserver.com.
