Brickell’s new construction boom a surprise to developers

TRD MIAMI /
Dec.December 26, 2013 03:45 PM

Real estate development’s rapid rebound in Brickell, with undertakings such as the $1.05 billion Brickell CityCentre and several high-profile condominium projects, has come as a pleasant surprise even to developers.

Last week, the Rilea Group broke ground on the Bond, a 43-story, 328-unit condominium project at 1080 Brickell Avenue. Diego Ojeda, a vice president at Rilea, told Miami Today that “construction has come back really fast, a lot faster than everyone thought.”

Ojeda credited Related’s MyBrickell, a 28-story, 192-unit condo project at 75 Sixth Street, with being the catalyst for the new wave of condo development. Related is also planning a three-tower development at 444 Brickell Avenue, as previously reported.

Ojeda did point out, however, that construction costs were quickly rising, and cautioned developers to get moving on projects as soon as possible, according to Miami Today. [Miami Today]Hiten Samtani


Related Articles

arrow_forward_ios
Daily Digest Miami

1111 Lincoln inks retail lease with Yoyoso, Miami-Dade and Related Urban reveal massive affordable housing plan: Daily digest

One Ocean

Allegations of shoddy construction pile up at Related’s One Ocean

Janine Yorio

NYC startup to buy Miami condos at a discount and open to investors

Daily Digest Miami

54-story Turnberry Ocean Club tops off, Flagler streetscape project to break ground: Daily digest

From left: Jon Paul Perez, Alex Karakhanian, Tony Arellano and Devlin Marinoff over the site (Credit: Google Maps)

Related Group, Alex Karakhanian and partners drop $32M on Wynwood site

Brickell City Centr

Allegations of employee theft, retaliation and female harassment at Swire: lawsuit

Jon Paul Pérez, Jorge Pérez and the downtown Miami skyline (Credit: iStock)

Miami’s biggest condo developer is going micro

Jorge Pérez with renderings of the projects

Related Group, Atlantic Pacific seek approvals for mixed-use apartment projects

arrow_forward_ios