The Real Deal Miami

Tibor Hollo wants to build taller Panorama Tower

As currently planned, Panorama will be 83 stories and 822 feet tall

March 17, 2016 09:49AM

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A rendering of Panorama Tower

A rendering of Panorama Tower

Panorama Tower will already be the tallest residential high-rise on the eastern seaboard south of New York, but developer Tibor Hollo wants to take it a little higher.

The 83-story, 822-foot tower is already under construction, but Hollo’s Florida East Coast Realty filed a request with the Federal Aviation Association to 868 feet above ground, the Next Miami reported. In 2011, the developer requested a height of 843 feet, but the FAA reduced it to its current limit.

In February, the project’s general contractor Tutor Perini completed Panorama’s 425,000-square-foot, 2,000-car parking garage. The mixed-use development at at 1101 Brickell Avenue also includes 821 apartments, 208 hotel rooms, more than 50,000 square feet of retail and restaurant space, and a 19-story pedestal with more than 100,000 square feet of medical office space and a teaching facility.

Florida East Coast secured a $340 million construction loan for the project about a year ago, and Panorama Tower is on track to open in late 2017. Wells Fargo Bank is the lead lender on the construction financing. FECR expects 20 percent of the $800 million project’s funding to come from the EB-5 visa program.

Panorama’s exterior was designed by Mosche Cosicher. Zyscovich Architects is handling the interior design. [The Next Miami] – Katherine Kallergis