Developer Proposes 23-Story Mixed-Use Tower Near Miami’s Brickell Bay Drive
By Julia Echikson April 29, 2024 5:45 pm
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A half-acre property in Brickell that previously housed the landmarked Babylon Apartments — Arquitectonica’s first building in Miami — could become yet another tower in Miami’s financial district.
Developer William Jacome wants to build a 23-story, mixed-use high-rise at 240 SE 14th Street, just south of the Jade condo building, according to a pre-application filed with Miami-Dade County.
The development, called Babylon Racquet Club, would feature 34 condos, 15 hotel rooms, 4,400 square feet of office space, a 13,700-square-foot restaurant, and 14 tennis or racquet courts.
“The intent of the project is to serve as downtown Miami’s premier racket sports and health/wellness center, conveniently located in the heart of Brickell,” the application states.
Earlier this year, Jacome paid $8.7 million for the half-acre, vacant site about a half-mile from the Financial District Metromover station, according to property records.
In February, Miami-Dade County officials included the parcel in what’s called the Metromover Subzone, allowing developers to drop parking requirements to boost the ridership of the rail line, per the application.
Jacome’s attorney, Nicholas J. Barshel of Akerman, did not immediately respond to a request for comment.
The site has attracted controversy in recent years. It was home to the Babylon Apartments, the six-story building that was completed in 1982 Its unique design from Arquitectonica — the bright red and zigzagged-shaped facade — helped turn the firm into an architectural powerhouse in Miami.
But the property was demolished in 2019 after the previous owner, Spaghetti Western star Francisco Martinez-Celeiro, succeeded in revoking the building’s landmark status.
If approved, Babylon Racquet Club would mark the latest high-rise in Brickell.
Earlier this year, Mast Capital secured South Florida’s largest construction loan for the Cipriani condo complex. Just last week, JDS Development paid nearly $62 million for a site along Brickell Avenue that is set to become the Dolce & Gabbana-branded condo tower. Along Brickell Bay Drive, financial firm Citadel is in the early stages of developing a mixed-use skyscraper that will serve as its global headquarters two years after it paid a record $363 for the waterfront site.
Julia Echikson can be reached at jechikson@commercialobserver.com.
