February Groundbreaking Announced For 44-Story Brickell Tower, 88% Sold

A February groundbreaking date has been announced for the 44-story Lofty Brickell, according to the Herald.

Construction permitting is already underway, Miami Building Department records show. Demolition at the site has been completed.

The developer is also planning to build additional housing towers on land it owns adjacent to the Lofty site, the report said.

Lofty will cost $300 million to build.

Even before construction, a total of 320 of 362 condos at Lofty (or 88% of units) have been sold, the developer told the paper.

Prices start at $600,000 for a 500 square foot units, and go up to $3.5 million for a 1,300 square foot unit.

Condos at Lofty are delivered fully furnished, with short-term rentals permitted.

Newgard is the developer, with Arquitectonica the architect.

 



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Magazine
19 days ago

5 and 10 years from now, the biggest urban planning regret this city will have is the overabundance of the short term rental model in the core urban downtown.

Anonymous
19 days ago

I don’t think there are *that* many buildings that allow it. It’s great to have options for those of us interested in renting out our properties when we’re vacationing. Personally, I spend a few months a year abroad (working remotely) and it would be great to be able to rent out my unit to help with my mortgage/travel expenses. When I bought my condo a few years ago, I couldn’t find any building that allowed that.

Anonymous
19 days ago

Folks like you make up probably 5% of the “host” market. It’s mostly investors, many who used to rent to year-long residents and now prefer tourists for the larger return

Robin Stan
19 days ago

^This

Anon
19 days ago

It’s nearly every new building that allows short term rentals. Developers move out, chaos moves in.

DWNTWNR
19 days ago

Just because it’s not allowed doesn’t mean it’s not happening. It’s extremely difficult to enforce for both the municipality and, when applicable, the condo association. Technically, all short term rentals, including Airbnb, VRBO, etc., require a license from the state through DBPR, however, most of those companies (i.e. Airbnb) don’t require you to upload your license and insurance since regulations vary by state and locality.

Anon
19 days ago

Every new build allows it?

Ummm
19 days ago

Almost every single proposed building is an AirBnB tower…..

Checo
19 days ago

That is not true.

Anonymous
19 days ago

Easy fix with legislation

Airbnbad idea
19 days ago

Agree no more Airbnb properties.

Anonymous
19 days ago

I love the comedian who said “by the way, AirBnB is no AIr, no breakfast.

Checo
19 days ago

Think about today.
What was the biggest “urban planning regret” from 10 years ago?

Back to Miami
19 days ago

Biggest regret from 10 years ago was not publicly funding Miami River Greenway, but that can be mended today.

Anonymous
19 days ago

Goes to show you the short term rental buildings can be mended in 10 years should it go south.

Anon
19 days ago

Source: Trust Me Bro

Checo
19 days ago

Thanks for the answer. But you clearly do not understand how private property rights work, how the Miami River Greenway works, or how projects get funded.

“The Watchdog, the Advocate, the Clearinghouse for Miami River Information” can be found here:
https://miamirivercommission.org/

Invest 20 minutes of your life to reading through the website, and you will not sound so naïve and childish.

Invest and hour of attending one of the open to the public meetings and listen to how thoughtful and informed everyone in that room is, and then attend 4 more in row.

Hopefully, you will find that that there is public funding pretty quickly and the solution to problems your perceive include doing the work, not just having extraordinarily earth shattering ideas that NO one else has ever thought of ever.

Anonymous
18 days ago

The Miami River Commission is one of the most obstructionist groups that is not involved in zoning. They are a commission that controls the actual waterway, not the zoning on the river. Their ideas are advisory at best. The people on the board are not really in touch with the changing Miami, they are all stuck in the past, like way past in the 2000’s. They want to keep the river a “working river” whatever that means, at the expense of the growth and evolution of the river from a fallow industrial dock to a walkable residential water way. All the commercial activity occurs way up river North West of the 836. IF YOU WASTE YOUR TIME ATTENDING 4 MEETING I FEEL BAD FOR YOU. They will never listen to a word you say and the people at the meeting are older than mosses. Their head Brett is one of the most staunch supporters of downzoning the river. They live in fantasy land.

Anonymous
18 days ago

The Miami River Commission seems to have better ideas and be in touch with creating a riverfront, instead of the DDA dividing Brickell to get funding for downtown without advocating for improvements in all parts of Brickell like around the metro. From the sound of this, I would like to attend a Miami River Commission meeting and they could use some help from Brickell investors and residents of Miami.

Miami River Greenway Come Back
18 days ago

Maybe you’re right though… I have no knowledge on the CURRENT Miami River Commission, and this is not an endorsement of this agency (why are there agencies for everything that don’t work together? Cut the pork…)

I just saw a 2001 plan produced by the Miami River Commission that won awards and had the vision to create a public trail all along the river through Brickell and Downtown.

A “working river” is a riverfront that has been beautified, with modern recreation spaces, lighting, security and maintenance where people can enjoy and bike and walk along the water for leisure and exercise.

This would draw in huge tourism dollars to Miami and increase resident relocations to areas overlooked.

Anonymous
18 days ago

No, a working river based on the Miami River Commission is one that has shipping activities, fishing, freight, and commerce, not one that is “beautified” for public use. You can’t have it both ways. What you are suggesting takes the development of residential use. What the MIAMI RIVER COMMISSION WANTS is to preserve the river for shipping activities, and restrict residential activities.

Miami River Commission May Be the Problem!
18 days ago

EWWW, Miami needs to scrap the “shipping” and “fishing” archaic selfish and unsustainable mentality. There are plenty of rivers around Miami where people can industrialize for their own profits. MIAMI HAS A PORT ALREADY that meets these needs.

We NEED a beautification for residences. It’s bound to happen, quit fighting it old Miami River Commission. The MRC may have bait and switched Miami with its 2001 plan looking like a beautiful river trail for residents and tourists to enjoy, and we are now catching on!

It’s only a matter of time before the entire river is turned into a beautiful place to live and work.

New Miami River Agency
18 days ago

If we beautify and bring recreation and residences Fl the Miami River and ditch the low value freight imports or whatever is going on deep up the river, the bridges will go up less!

We all know how much traffic that creates, and how much money Miami loses every hour with those bridges going up. Let’s make them fixed architectural bridges… we will make money in the long run like this!

Anonymous
19 days ago

Not sticking to Miami21 and letting Related and Arquitectonica chip away and more even more anti-urban buildings than were approved under old code.

Original
19 days ago

Miami 21 was a concept that was made up back in day to qualm those nimbys fears who were whining about new towers that were being proposed throughout downtown, Wynwood, the Design District, and eastern Buena Vista to name a few places.

Checo
19 days ago

It was a design plan championed by then Mayor Manny Diaz.
Many architects detest Miami21 and it’s form based zoning because the rigid standards kill creativity and steer design toward a central planned dystopia.

Manny Diaz is now chair of the Florida Democratic party.

Anan
17 days ago

That tells you everything.

Anonymous
19 days ago

Short-term rentals can easily be switched to long term. Much bigger urban planning regrets exist in this city going back years.

Checo
16 days ago

According to the Census Bureau’s 2021 American Community Survey, Florida counts an estimated830,000 housing units for “seasonal, recreational or occasional use.” This is the Bureau’s definition of vacation homes, and this number represents roughly 8% of the state’s 10 million housing units.

These figures represent a reduction of 5% since 2010 when the number of units available for “seasonal, recreational or occasional use” clocked in at 877,000, or roughly 10% of the state’s then9 million housing supply.

In other words, the share of vacation rentals has declined over the past decade — the very time that rental prices have increased.
https://www.census.gov/programs-surveys/acs

Miami River Greenway Come Back
19 days ago

Beautiful Building! If the developers want to add value, this would be a great location for waterfront restaurant/bar on the riverfront. Hope the developers are required to contribute to infrastructure around the metro in Brickell up to I95 and enhance public recreation spaces along the Miami River, since this is a critical connecting point and development for the Miami River Greenway.

Anon
19 days ago

They’re not, or we would have heard about it. The greenway will develop as each individual private parcel along the river is sold and developed – meaning it will most likely be at least a few decades before something like Park West’s Baywalk is completed.

Anonymous
19 days ago

Park west or do you mean edgewater

Anon
19 days ago

I was referring to the continuous Baywalk from The Perez Art Museum to the Intercontinental (minus the break for AAA)

MMN
19 days ago

There is no break for AAA. it goes behind it.

Reform Public Investments
19 days ago

We need a local public funded Greenway ASAP, with support of State and Federal agencies. We have the means to do this without a patchwork failing strategy – if it worked as is, we would have it 20 years ago.

Sure
19 days ago

Good luck getting that in Brickell!

Brickell Leadership
19 days ago

Who represents only Brickell? Let’s ask him or her. All the leaders seem to be shared with downtown and Miami Beach, and I’m used to each area having its own representative. I am curious who is representing Brickell?

Brickell CRA Park Funding
19 days ago

I may see an issue…

Is the DDA using Brickell tax revenues to pay for the parks in downtown like Millenium Park and Bayside?

If so, shouldn’t it be using for parks for residents in Brickell, like the Miami River Greenway?!

Residents, maybe Brickell should have it’s own additional CRA…

Checo
19 days ago

Check out the Brickell Homeowner’s Association.

HOA isn’t Enough to Justify Taxes
18 days ago

Oh great another “HOA” with limited power, we need a Brickell commissioner that serves from I95 to the bay down to Rickenbocker, or even a mayor… we already have two.

Anonymous
19 days ago

Good luck getting Federal funding for the next two years.

Checo
19 days ago

Wrong.
Uninformed.
Misguided.

It is easy to pluck away at a keyboard. Whining, complaining, and loaded with “fresh” ideas (that were thought of before you were born).

PLEASE
PLEASE
PLEASE

It takes work. You are not doing anything. Jan 18th, 2023. Please report back when you present your solution to the City of Miami Commission. Or the Miami River Commission. Or you fly to Tallahassee for you State funding idea. Or you fly to Washington DC to pitch your Federal Funding proposal.

There are plenty of people who may join your crusade (if they thought you could actually get something done), myself included.

Working Together
18 days ago

It’s hard to fly everywhere when you’re required to be in an office, can you please volunteer to help Checo?

Checo
19 days ago

True.
Why not. If I bought a boat repair shop on the Miami River in 1974 for top dollar, do I want some new to the neighborhood punk telling me to give up my boat dockage area?

It should be common sense.
Sadly, the public schools have gone downhill, and common sense isn’t all that common anymore.

Eventually, land owners on the Miami River will realize that selling or redeveloping will be beneficial and the MRG will have 50ft of right of way on the river. For now, the MRG exists along the waterfront and deviates around private property owners. This is the plan contemplated in the early 2000’s and thoughtful people have been seeing it through for a couple of decades.

Working Together
18 days ago

It’s time to revisit and push forward! Miami is a different city from 2000 and so are those that live here or grew up here.

Checo
19 days ago

What?
If you bought a house, would you apply the same requirement?

I’m Miami River Greenway Comeback…..From heretofore….all the people who buy land around me must improve my landscaping, my pool, and my sidewalk!

Because I have zero idea about how the world, or city work, I will foist my special ideas upon the below average thinkers in hopes that I will amass a confederacy of dunces that vote me as commissioner of some neighbor that I have just invented!!!!

Together, we will win 3rd of 4th place!!!!!!!
Donate to my Go Fund Me Page here

http://www.vote for Pedro.com

Working Together
18 days ago

Checo, your fatalism may be due to years of trying these exhausting methods you profess work, or maybe you don’t want things to change at all. However, first step is to manifest, and then it’s to gain awareness and support. If you’re running around to meetings and turning everyone off, of course it will spawn fatalism.

I think you have great ideas and intentions though and would love to work together.

Working Together
18 days ago

Actually first step is to listen to your neighbors, and then manifest something that solves as many problems as possible at the lowest cause and expense or brings most value.

Working Together
18 days ago

Lowest cost*

Anonymous
19 days ago

Great project with great timing…start digging!!

Anon
19 days ago

Looks great but really wish Brickell had even a fraction of the green space that Park West has.

Anonymous
19 days ago

Park west literally has no park space…

Park = A Green Public Space
19 days ago

Park West is *literally* called Park West because its (get this) directly WEST of a huge PARK. This Park is called Bayfront Park – just south of another park known as Museum Park, which hosts both the Perez Art Museum and Frost Science Museum.

Park + West = Park West

Honey I love you but give me Park Avenue
19 days ago

Park West has nothing to do with Park Avenue?

Anonymous
19 days ago

What about all that open space around MWC? Just because it isn’t a giant dog toilet doesn’t mean it’s not recreation space.

Brickell Public
19 days ago

One Southside Park is undergoing a remodel and soon we will have 9 acres shared at Jose Martí Park, there is HUGE support and funding for this and the new PUBLIC/PRIVATE Miami River Greenway. Brickell needs to restore this park space and Miami understands this and will help.

More Parks!
19 days ago

We’ve established a completed Miami “Greenway” is decades away. It will be 10 years before Hyatt and other key developments are completed.

And Jose Marti Park is nowhere near 1 Southside Park…

I am happy to see meager progress on some of the pocket parks in Brickell but as a resident I acknowledge a lack of greenspace is Brickell’s biggest drawback….

It’s a Jose Marti Party
19 days ago

Jose Martí is 5 minutes from One Southside and 9 acres on the river at the key gateway point to Brickell. Air was reported that Chetrit has committed to 20 mil to fund the park overhaul. It also connects to the Underline (just like Hudson Yards in NYC), so it’s a gorgeous shaded walk. We just need to match private investment with public funding and make it happen! All of Brickell and Miami would LOVE this enhancement.

Anonymous
19 days ago

Maybe Metromover should be extended just for him and the homeless to ride between parks.

Checo
19 days ago

What?
Public funding for what? What is your plan?

Anonymous
18 days ago

I started one and can prepare renderings. Where should it be sent? The government organization is disjointed and hard to navigate.

Miami River Greenway
19 days ago

We didn’t establish a Miami River Greenway is 10 years away. That is what people said about the World Center and the Overtown Greenway in downtown. I am forseeing the Miami River Greenway being completed in 2-3 years if we pick it back up now.

More Parks!
19 days ago

If properties like the Hyatt, which is a key part of the greenway, wont be done for 10 years (that’s not even considering other projects like river point, and future projects which have no yet even been proposed) how will the Greenway be done in 2? That plan is over a decade old…there has been zero progress on it….not sure if you are just trolling or if you actually think this will somehow be done in the span of two years….

Miami River Greenway
19 days ago

Hyatt is planned for the downtown side of the Miami River Greenway and we literally just voted for it. Give it time…

It always takes downtown time to catch up with Brickell, but we should plan and keep working together. The Brickell side of the Miami River Greenline from Jose Mart Park to the inlet can finish in two years at most.

Checo
19 days ago

The Miami River Greenway plan respects private property rights.
IF there is a private property under construction, or otherwise encumbering the immediate 50ft easement on the riverfront, there is funding for wayfinding signage, park benches, trash cans, lighting and safety features to redirect the greenway to the street.

Do you know how I know? Because I walk the walk and talk the talk.
PLEASE
PLEASE
PLEASE
Walk from Il Gabiano to Garcia’s some day. It won’t hurt you.

Do something. Then report back.

Working Together
18 days ago

Eminent domain the small sliver of land required for a trail or loophole your way through. Nobody has the right to block access to a trail conceived 20 years ago by the Official members of the City anyway! The public needs to get ahead of private before it’s all done and settled into a wasteful private deck.

Anonymous
15 days ago

A trail conceived by the city 20 years ago is meaningless. Eminent domain proceedings are very costly in that area, even a small strip of land like youre saying is millions of dollars.

Checo
19 days ago

What don’t you like about Brickell Key, Simpson Park (9acres), Alice Wainwright, the Underline or Baywalk?
If Brickell is so bad, can you walk over the Brickell bridge to Bayfront, Bayside, Maurice Ferre park?

Funny, I lived/worked in Brickell for 30 years and see it getting better and better every year. Maybe I am wrong…or maybe people are getting more and more needy.

Working Together
18 days ago

Checo, or maybe you don’t actually live in Brickell and just come in when convenient? Do you live in Brickell or do you have a home with your own backyard?

Checo
19 days ago

What?
JDS is developing a major mixed use project in West Brickell, they are going through the typical redevelopment motions including the relocation/renovation of a fire station

Chetrit is also developing a major project in West Brickell which includes typical redevelopment improvements in their Special Use Area Permit.

No additional public funds are being required of taxpayers in these two major developments.

Anonymous
18 days ago

Those projects are in fact in Brickell but they need private funding to fill in the gaps and create a cohesive signage and aesthetic with other new public spaces in Brickell.

Anonymous
18 days ago

Public/private partnership funding.

what U talken bout Willis?
19 days ago

“Looks great but really wish Brickell had even a fraction of the green space that Park West has”

What are you talking about?.. not that long ago Brickell was gifted that huge doggy toilet at the mouth of Biscayne Bay known as the “Miami Circle Park.”

What more do you want?

Checo
19 days ago

It does have a fraction of the green space.

Wish granted!!!!!!!

Robin Stan
19 days ago

Nice looking building, but still interested to see how short term rentals will affect the long term value of the units. As the short term market continues to saturate, and occupancy levels continue to decline, I can only imagine that the economics of vacation renting won’t pan out and people don’t typically want to live full time in buildings full of vacationers.

Stop assuming
19 days ago

Yeah.. keep imagining.

Marco
19 days ago

Absolutely gorgeous! Congratulations Arquitectonica. More designs like that in Miami please.

Anan
19 days ago

What would it take for a building to flip from allowing these rentals to standard condo’s ? Would the municipality get involved , as in a change of use ?

Anonymous
19 days ago

I think the board of the building would have to amend the condo docs

Checo
19 days ago

They are standard condominiums with the “gimmick” of STR permits and no restrictions on how they are rented. Owners have the freedom and liberty to lease their property how they like.
Before AirBnB, these types of condos were called Condo/Hotels. These Condo/Hotels were developed in 1350 Brickell in about 2005, and 1435 Brickell in about 2007.

Nothing new. Just a new name.

calivalle
19 days ago

Loving the lines on this building….

Nunya
18 days ago

Scam name. That’s not Brickell.

Pi Space
18 days ago

I am surprised only 88% is sold.

Casey
19 days ago

$600K for 500sqft?? GTFOH

Anonymous
19 days ago

This is nothing new for Brickell real estate.

Brickellite
19 days ago

What?! That’s a bargain for Brickell.

Anonymous
19 days ago

That’s a bit of a stretch.

Alcoholiotic
19 days ago

Sorry but they’re not obliged to build towers in Brickell that you and I can afford to live in.

Anon
19 days ago

Another AirBnB tower for Brickell……