A demolition permit has been applied for at the downtown Miami site where the 40-story 501 First tower is planned.
501 First is planned to include 448 residential condo units, and buyers will be permitted to rent their units on a short-term basis through platforms such as Airbnb.
The new tower will not have a parking garage.
The building to be demolished was completed in 1924, according to county records.
City records show that the demolition permit was applied for on August 13.
The estimated demolition cost is listed at $71,000.
No other documentation has yet been submitted, so the permit is not yet in review by Miami’s Building Department. There is also no demolition contractor attached to the permit yet.
A construction permit for the new 40-story tower has not yet been applied for.
The plans were approved by the Urban Development Review Board in July, and are likely under review by the city’s Planning & Zoning Department.
Aria Development Group, which is building the project, recently completed a deal with the Miami-Dade School Board to build classroom space that will fill a need created by the new tower.
Completion of 501 First is scheduled for the first quarter of 2023.
The 1924 building set to be demolished:
(photo: Phillip Pessar)