Florida East Coast Realty, LLC (FECR) obtained a temporary certificate of occupancy for a major portion of the parking garage at its Panorama Tower project in downtown Miami.
FECR also reported that construction crews have poured concrete for the first three floors of the 64-story residential tower. At 830 feet, Panorama Tower on Brickell Bay Drive would be the tallest residential high-rise on the eastern seaboard south of New York.
Florida East Coast Realty reported that construction crews have placed over a million square feet in eight months, putting Panorama’s construction phase on track for completion in late 2017.
Tibor Hollo, chairman and president of FECR, said in a press release the City of Miami was responsive in “allowing us to move forward so quickly … resulting in extremely impressive development progress.”
FECR expects the total cost of Panorama Tower to top $800 million, including the bill for the 1,300 construction workers needed to build the tower.
Panorama Tower’s 19-story “pedestal” will encompass more than 100,000 square feet of medically oriented office space atop a 2,000-spot parking garage, plus 50,000 square feet of ground-floor and second-level retail stores and restaurant space. A 208-room hotel is planned next to the garage.