Fortune International Lays Ground for Supertall In Miami’s Brickell

The 1.8 million-square-foot development would house 117,310 net square feet of office space on floors 13 through 17, an 84-room hotel on floors 20 through 23, and 560 residential units on the remaining floors. 

The bottom stories would include 6,038 square feet of retail space on the ground floor and a 1,226-spot parking garage.

The Miami-based developer has owned the 1-acre site — which includes the adjacent property at 1421 South Miami Avenue — since 2002, when it paid $5.6 million, according to property records. The lots are home to single-story retail buildings currently leased to Barsecco, Paperfish Sushi, the Novecento steakhouse, the Salty Flame restaurant and Blume Nightclub.

If approved, the Arquitectonica-designed project would be Fortune International Group’s second supertall tower under development in Brickell. Around the corner, it unveiled plans for a 77-story, Casa Tua-branded condo tower last year, which has yet to break ground. 

Fortune International Group isn’t alone. Across the street from the firm’s latest application, the Cipriani-branded complex, developed by Mast Capital, remains under construction. Billionaire Ken Griffin plans to build a mixed-use tower along Brickell’s waterfront to house its financial firms, hedge fund Citadel and market maker Citadel Securities. Michael Stern is working on a Dolce & Gabbana-branded condo tower. 

But other supertalls have appeared to stall. In 2022, Stephen Ross’s Related Companies and Swire Properties unveiled plans for an office skyscraper. But two years on, the project has yet to nab an anchor tenant or break ground.

A representative for Fortune International Group did not immediately respond to request for comment. 

Julia Echikson can be reached at jechikson@commercialobserver.com.