Developer PMG was issued a permit last week to begin construction on the foundation of 400 Biscayne.
A 49-story mixed-use tower is being built.
Total cost of the foundation work is estimated at $2 million. The permit allows for excavation, piles, site and soil improvement.
A separate construction permit has been applied for, but not yet issued, to begin vertical work on the tower, which will include 714 units in a 49-story, 573-foot tower.
Over 1 million square feet will be built, at a cost of $175,262,501, the permit states.
John Moriarty Associates is the contractor.