The hotelwould feature 823 lodging units and 339 parking spaces.
Seven supertall towers are currently planned across Miami.
The two major productions will inject approximately $12 million into the local economy.
In Miami Beach, where politicians recently voted unanimously to oppose the Metromover expansion to South Beach, the vote was even more lopsided.
The Madrid-based bank will begin demolition of its Brickell office building in the next few weeks to make way for the new tower.
The tower is currently going through Miami-Dade’s review process under the Rapid Transit zoning plan. Approval of developments in the zone may be conditioned on public benefits.
When Dan Kodsi and his former partner acquired the site two years ago, they planned to build a 200-unit apartment building. Now, Royal Palm is moving forward with a roughly 30-story condo tower.
Companies tied to Griffin and Citadel spent about $670M on the Brickell assemblage in 2022.
According to recently released Census data, between July 2022 and July 2023, Miami’s population increased by 1.3% making it the tenth fastest growing big city (defined as a population above 250,000).
The race to introduce air taxis to Miami’s skyline is speeding up as one provider is targeting a 2026 launch and plans to buy 20 all-electric jets to make the futuristic vision a reality.