In order to build a bigger project, apartment developer Aimco is paying up.
The developer requested approval to build a 61-story apartment tower at Brickell Bay Drive, with 897 apartments. The proposal is much bigger than permitted by zoning code for the property.
The proposed FLR of the project is 1,613,072 square feet, where 1,156,001 is permitted (a difference of 457,071 square feet). The 61-story height is also taller than the 48-stories permitted by right.
To gain approval Aimco has agreed to make a public benefits contribution, according to a Final Decision of approval recently issued by Miami’s zoning office. Under the Miami 21 zoning code, a developer may make a contribution for bonus density and height.