Aston Martin Residences’ developer has announced an updated construction schedule after securing $200 million in financing from an affiliate of Itaú Unibanco, the largest financial conglomerate in Latin America.
Piling work is set to be completed this month, according to German Coto, CEO of G&G Business Developments.
“We’ll complete the piles this month closely followed by excavation for the mat foundation. Then one of the most reputable concrete contractors in the USA will pour the foundations. Although we are already well underway with construction, we viewed the financing as a great business opportunity and a vote of confidence in the quality and potential of the Aston Martin Residences from the financial community,” Coto said.
Vertical construction is set to begin in July 2019, which Coto called an “exciting milestone.” Completion is scheduled for 2022.
“I’m delighted that together with Coastal Construction, our general contractor, will have already secured 70% of our construction plan,” Coto added.
Over 40% of the 391 residences and penthouses are now sold. Prices range from $750,000 to upwards of $50 million.
The 66-story tower will top off at 816 feet above ground. In Florida, only Brickell’s Panorama Tower is now taller at 868 feet above ground.
Revuelta Architecture and Bodas Miani Anger are the architects.