Israeli developer Gazit Globe announced it has received approval for a density increase at its planned Brickell Gateway tower.
The announcement was made to shareholders of the company, which trades on the Tel Aviv Stock Exchange.
Gazit says it can now build 504 apartments at Brickell Gateway, up from 364 previously planned.
The developer is now going through the county for review, rather than the city. The county’s Rapid Transit Zoning areas generally allow for more dense development than the city would allow.
According to plans filed with the county last month, Gazit is planning a 54-story, 643-foot tower, with:
504 multifamily residential units
16,882 square feet of ground floor retail space
245 parking spaces
The application listed Atlantic Pacific as a developer along with Gazit. Corwil is listed as the architect.
Gazit also announced it had purchased a retail building across the street, at 83-97 Southwest Eighth Street, with tenants including Toasted Bagelry & Deli, Talkin’ Tacos, CBD American Shaman and Stanzione 87 pizzeria.
That building was purchased for $20.1M
The sellers were represented by Hector Antunez and Juan Andres Nava of Metro 1 Brokers, while Fabian Graff of Metro 1 represented Gazit.
Gazit said the newly acquired building would provide “additional flexibility” for the Gateway Brickell project during the development and rental process.
It is the third property in Brickell for Gazit. In June 2021, Gazit acquired the 262-unit Maizon Brickell apartment building which is now fully leased, the company said.
This building will be demolished to make way for Brickell Gateway: