the cabi company of condos owns capital towers and everglades on the bay the news is that if everglades on the bay sales turns out good they will start on capitals which it will take in 2009 or 2010 to start its construction.
Revived from the recession, bidding is occurring for the site Might go a redesign from the original 3.2 million sq. ft...
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With development potential for the site up to 3.2 mln sq. ft., the price could be huge. The original 650 and 710 ft. tower proposal could be built but at 1.3 mln sq. ft, it would only be less than half the potential for the property. The winning bidder will likely seek the maximum square footage allowable.
Capital At Brickell Site Sold To Chinese For $75M; Will Be Redesigned
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The Capital at Brickell site has been sold for $74.74 million.
CCCC International USA LLC, a subsidiary of Beijing’s China City Construction and American Da Tang Group of New York, is the buyer.
The 2.78-acre site was approved for a Major Use Special Permit allowing a 1.3-million square foot, twin-tower project. Those plans will be scrapped, according to an interview of American Da Tang’s CEO in the DBR.
Excavation at the site had started, but was halted due to market conditions.
The seller is a subsidiary of Mexican conglomerate GICSA, controlled by the Cababie family. GICSA developed downtown Miami’s Vizcayne condos.
The new owner will be able to redesign the project under the Miami 21 zoning code with a maximum of 3.2 million square feet.
Could be a supertall if they play their cards right and design it in such a manner assuming they don't go with a twin design. A little over double of what was allowed previously. Its in a good location to be a supertall too!
I hope it is at least 900 ft tall....Shame that they aren't using the original design...I liked the crown design on those towers....
Not too surprised that they are re-designing it, though....
China City Construction Completes Preliminary Approval At Brickell Site Where They Plan Miami’s Tallest Building
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China City Construction Corp. has completed ‘preliminary approval’ of what they call a landmark project at the former Capital at Brickell site, according to a posting on their website last week.
China City plans to build the tallest building in Miami on the site, their website said at the time of purchase (although the property is restricted in height by aviation officials compared to other parts of downtown.) Total construction area will be about 330,000 square meters, or 3.6 million square feet.
The project remains in the planning and design stage. A partner in the project, American Da Tang Group, has said it will be targeted towards Chinese end users with amenities that cater to them.
China City is a state-owned enterprise with a philosophy that calls for ‘building socialism with Chinese characteristics.’ The company completed the purchase of the 2.78-acre Capital at Brickell site late last year along with partner American Da Tang Group for $74.74 million.
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capital not dead!!!!!
Yea....
Might go a redesign from the original 3.2 million sq. ft...
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