Swire Properties unveiled plans for a two-tower, Mandarin Oriental-branded development on Brickell Key.
The project calls for demolishing the existing Mandarin Oriental hotel at 500 Brickell Key Avenue and building an 800-plus-foot tower with 220 condos, and a 400-foot hotel with 151 rooms, 61 condos and 28 hotel residences, according to Swire. The existing 326-key hotel, built in 2000, will remain open until at least the end of 2024, a spokesperson said.
The U.S. arm of Hong Kong-based Swire has long planned to redevelop the site, which includes the last undeveloped waterfront plot on Brickell Key. Together with the adjacent green space, the site totals more than 5 acres.
The 44-acre island was previously called Claughton Island. It was created from two islands that were a result of Henry Flagler having a deep channel dug from the mouth of the Miami River. Brickell-based Swire Properties, now led by President Henry Bott, acquired and developed much of Brickell Key over the last several decades.
Bott took over this year from Kieran Bowers, who had been president since 2017.
The new Mandarin Oriental development, called One Island Drive, will be connected by a podium with more than 100,000 square feet of amenities. Condo sales are expected to launch this year. Prices will start at $3.5 million, according to a release.
Units in the Residences at Mandarin Oriental condo tower will range from two- to four-bedrooms with up to 4,700 square feet. It’s also expected to have two duplex penthouses with more than 6,000 square feet each.
Kohn Pedersen Fox Associates is the architect. Amenities will include pools, cabanas, private dining rooms, restaurants, a spa and health and wellness facilities.
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Swire owns a majority interest in the Brickell Key Mandarin Oriental hotel, but the hotel group is owned by Jardine Matheson Group, a Hong Kong-based conglomerate.
Swire’s most recent project in Miami is Brickell City Centre, a $1 billion-plus mixed-use development with retail, offices, a hotel and condos. The developer is teaming with Steve Ross’ Related Companies to build a supertall office tower as part of the next phase of Brickell City Centre. Construction is underway.