W
alter Defortuna, brother of Miami developer Edgardo Defortuna, is proposing an 81-story mixed-use tower in Brickell that would stand at 1,010 feet tall. The project is part of a growing trend of supertall developments in the city. The building would feature 560 residences, averaging around 1,100 square feet each, as well as 84 hotel rooms and over 117,000 square feet of office space.
Designed by Arquitectonica, the tower would also include 6,000 square feet of ground-floor retail on a 1.2-acre site at 1414 Brickell Avenue and adjacent lots. The proposal doesn't specify whether the residences will be condos or apartments. Walter Defortuna's entity, 1414 Brickell, purchased the site for $5.6 million in 2002.
Edgardo Defortuna, founder of Fortune International Group, says he is not involved in the project and that his brother controls the site. The development site is located in a Metromover subzone, allowing for larger projects due to its proximity to transit stations. To reach supertall status, a tower must be at least 984 feet tall, but Miami's tallest building remains the 900-foot Panorama.
The Defortuna project would join several other planned supertalls in the area, including a proposed 1,032-foot tower by billionaire Ken Griffin and two other towers planned for adjacent sites. The city has seen an increase in supertall projects over the past four years, with plans for several high-rise developments underway or proposed.
realestate
Brickell Supertall Project: 1,000-Foot Plus Mixed-Use Development Proposed
Defortuna Brother Proposes 1,010-Foot Mixed-Use Tower in Brickell Amid Supertall Rush.
Read More - realestate
realestate
Rockford Housing Market Gains Momentum with New Hispanic Real Estate Partnership
City leaders expect NAHREP to boost Hispanic homeownership rates.
Read More - realestate
realestate
Commercial Real Estate Forum Held by Southeastern Association
Sandoval Economic Alliance holds partner luncheon at Quezada's Comedy Club, focusing on commercial real estate.
Read More
realestate
KingSett freezes withdrawals from $1.9 billion flagship private equity fund.
Investors locked into the fund for at least one year due to no cash distributions or redemptions allowed.