Brazilian billionaire Daniel Dantas is backing plans for an 843-foot tower in Brickell, according to Bloomberg.
Dantas is a founder of the Opportunity investment firm, which has around $11 billion in assets.
The company is partnering with Leste Group to form Lore Development Group, which is planning the 69-story Summit Brickell tower.
Summit Brickell will be one of the first investments for Lore in Miami. The company plans to spend over $1B in the next five years here.
A division head at Opportunity praised Miami’s pro-business attitude, telling Bloomberg that they were able to increase the tower height from 40 to 70 stories, and double the unit count due to the property’s proximity to the Metrorail and Metromover.
County records show that the developers filed for zoning approval for the new tower on October 4.
According to the new filing, Summit Brickell is planned to include:
500 residential units
2,174 square feet of ground floor commercial space
amenities on level 13 and 69, including a rooftop pool on the 69th floor
480 parking spaces on levels 2 through 12
Corwil is the architect.
The developers have previously said that groundbreaking is planned in June 2024, with completion in Summer 2027.