One Bayfront Plaza remains on track to begin construction in 2019, the developers said last week.
Demolition of an existing office building in the site is expected to begin in the first half of 2019. Construction would then take 50 months.
Dean Warhaft, chief development officer at Florida East Coast Realty, told the SFBJ that the office building will have a big advantage over other office towers proposed in one area – floor plate size.
Under Miami 21, office floor plates are limited to 30,000 square feet, which isn’t big enough to match what office and tech tenants demand. One Bayfront Plaza is grandfathered under the old zoning code, and building 36,000-square-foot office floor plates by modifying a MUSP.
The project also includes a hotel, retail, and rental apartments – and the market is now hot for all of those, boding well for the building’s prospects.