MIAMI | Brickell Gateway (90 SW 8th Street) | 773 FT | 62 FLOORS

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ACROSS FROM BRICKELL CITY CENTRE, ISRAELI DEVELOPER PLANNING BRICKELL GATEWAY TOWER

The owner of a property across from Brickell City Centre appears to be preparing plans to build a mixed-use tower, a newly released rendering shows.

Gazit Horizons purchased the property in 2017 The company trades on the Tel Aviv Stock Exchange.

Renderings were included in a presentation to shareholders last month. The project is referred to as Brickell Gateway, and it will have up to 650,000 square feet.

The company “is currently designing a mixed-use building to satisfy the unmet office, hotel and residential demand in this live, work, play submarket,” their website states. A building up to 48 stories is allowed by zoning, it says.

Multiple lower levels of the tower shown in the rendering appear to be retail and commercial space, with no parking garage.

The company is a subsidiary of Gazit Globe, a large Israeli real estate company. Gazit paid $29.5 million for the 21,210 square foot site in 2017.

In May, CEO Chaim Katzman told investors on a conference call that the building currently on the Brickell site was scheduled to be demolished, and that he would share additional news regarding the property soon.

A demolition permit does not yet appear to have been filed, city records show.

Gazit had previously marketed retail space at a project called 90SW8, which would have seen the existing building redeveloped in a design by Touzet Studio. A listing for the smaller redevelopment was removed from real estate website Loopnet in May.

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NXT