Developer Habitat Group broke ground on the first tower after securing a $24 million loan from Ocean Bank.
Smart Brickell will eventually include three towers.
Piling work for the first tower got underway on Monday, and completion is scheduled for 2021. The tower is sold out, and will include 50 hotel rooms and 50 condos.
The 25-story Tower 2 will break ground in early 2020. It is said to be 80% sold and is now converting to contract.
A third tower is also planned.
“Receiving this loan for the construction of our first Smart Brickell tower is a testament to the project’s continuing success,” said Santiago Vanegas of Habitat Group. “Following the rapid sellout of Smart Brickell Tower 1, Smart Brickell Tower 2 is already 80 percent sold. We are looking forward to breaking ground on Tower 2 and continuing this construction momentum.”