Unlike much of the redevelopment now enveloping Miami, the plan spearheaded by Coconut Grove-based developer Swerdlow Group is aimed squarely at low-income and middle-class Miamians who are now finding it increasingly unaffordable to live in the city, especially in the urban core.
The loan marked a new record for a single tower, residential construction loan.
Plans for the Class A tower include 750,000 square feet of creative offices, structured parking for 1,000 vehicles and 7,500 square feet of ground-level retail space.
The county’s robust film industry went into decline in the past decade after the state discontinued its film incentives program, with films and industry professionals leaving the state for areas with higher incentives.
The Greater Miami Chamber of Commerce (GMCC) recently completed its Americas Linkage mission to Japan.
UrbanX intends to establish a network of commuter flights in the county that are expected to have a range of up to 60 miles.
Renderings of the proposed project show the hotel and residence could be called La Mare.
The historic Trinity Episcopal Cathedral that has stood on the property since 1923 will be preserved and enhanced.
It only took about three months for the FAA to issue approval for the 76-story tower.
Cipriani Residences Miami Rendering 2_Image Provided by Schwartz Media 1030x385