Another mega project will be launched in the vibrant neighborhood of Brickell and, this time, promises to deliver more than 1000 new units in the region. The new mixed-use project, known as 1420 S Miami Ave, will feature three towers to be erected simultaneously by construction company Mast Capital. The start of the works is scheduled for the end of 2022.
The development is located at 1420 South Miami Avenue in Brickell. The construction company Mast Capital has just received the permits to start the works. In all, there will be 1255 units in three towers of 50, 60 and 80 floors respectively. The third 80-story tower will be the luxury building of the Cipriani brand, already discussed in this blog. The project was conceived by the renowned Arquitectonica office, famous for designing the main luxury condominiums in South Florida. Here are the numbers of the three towers:
- Cipriani Tower – 80 floors, 286 meters high (405 condominium units)
- 59 floors, 210 meters high (425 units aimed at short term rental)
- 50 floors, 184 feet (425 units facing short term rental)
- There will also be almost19,000 square feet for shops, establishments and other
Mast Capital intends to invest almost US$ 600 million in the construction of the three towers, which promise to revolutionize the region, consolidating the Brickell neighborhood as the vibrant center of Miami.
Project aimed at Short Term (Airbnb)
The towers of the new development will bring units aimed at flexible rental, that is, without period restrictions, so that they can be rented for the season on platforms such as Airbnb and Booking. The downtown area of Miami has stimulated and received several projects aimed at short-term rentals, attracting investors from all over the world in search of the high returns provided by the activity.
A curiosity of the project is that it will have almost 2,500 spaces for bicycles. A new city program allows that for every 6 existing bicycle spaces in a new project, one parking space can be suppressed. With this, the project values a community that is increasingly car-free and more “pedestrian friendly”.
Some developments are even being built without any parking space, such as the YotelPad, which was built in front of a Metromover station in Downtown.
Miami is famous for being one of the cities that has invested most in Walkability in recent years and the Brickell neighborhood is at the forefront of this movement.
A recent study released by the company moveBuddha placed Miami at the top of the ranking, among the 78 largest metropolitan areas in the USA, for the item Walkability. The characteristics analyzed include walking and cycling, easy access to restaurants on foot, security, proximity to good schools, proximity to medical facilities, among others.
The new Mixed Use projects, like this one from Mast Capital, are mini-communities or cities-within-a-city, as they say. The complexes already have, within their own limits, several restaurants and convenience establishments so that residents or guests do not need to take the car for anything. The new concept of Walkability is the future of urban life and brings more quality of life in a world increasingly designed to be car-free.
About the Brickell neighborhood
The Brickell neighborhood is today one of the most sought after by investors, residents and tourists who want to spend time in South Florida. The region, which for many years was seen only as a commercial district in Florida, which housed several office buildings, gradually began to attract residents and has been transforming and evolving into one of the most vibrant and trendy centers in the USA.
In addition to offering several residential developments, shops, cafes, bars and large, open areas for strolling and walking, the neighborhood is also just a few minutes away from Miami’s main beaches, such as South Beach and Key Biscayne. Not to mention the famous and modern Brickell City Centre, the complex that pioneered the mixed-use concept in the city.
About AMG International Realty
AMG International Realty is a global real estate company specialized in Florida. If you want to know more about launches and opportunities in the Brickell neighborhood, or another region of Florida, please contact me right now and let’s chat via WhatsApp: +1 (305) 318 6968 (Heloisa Arazi).