Another 38-story tower is now in planning in Brickell after a developer completed the purchase of a property last week, according to the SFBJ.
Alta Development paid $15m for the .47 acre property at 180 and 160 SW Ninth Street. A 24-unit apartment building on the site will be demolished.
An unnamed company from New York is a partner with Alta on the acquisition.
The new 38-story tower is planned to have 320 apartments.
Behar Font has been retained as the project architect.
Groundbreaking is planned for mid-2023.
Colliers South Florida Senior Director Virgilio Fernandez as lead, Executive Managing Director Gerard Yetming, Managing Director Mitash Kripalani, and Senior Financial Analyst Julian Zuniga represented the buyer, Alta Development LLC., in the deal. The Colliers team also represented the seller, Progesti Corp., in the transaction.
Alta secured Rapid Transit Zoning from the county before the purchase, nearly tripling development density to 500 buildable units an acre, a press release said.
