Hong Kong Court Orders CCCC Towers Site In Brickell To Be Liquidated

Brickell’s CCCC Towers site is set to be sold following a ruling from a Hong Kong judge.

China City Construction Corp. purchased the property in 2014 for $74.74 million, with plans to build Miami’s tallest tower.

Asia Allied Infrastructure bought a 45% stake in the project for $40 million from China City in 2015, valuing the property at $88.88 million.

China City is insolvent and failed to develop the project in a timely manner, according to a lawsuit filed by Asia Allied in Hong Kong.

In a ruling issued in October, a Hong Kong judge ordered the property sold (the ruling is embedded below).

In 2007, Cabi Developers began excavating the site to build the Capital at Brickell twin tower project, which included two levels of underground parking. Fill was removed for the underground parking before the project was cancelled, leaving an empty pit in the heart of Brickell for almost a dozen years now.

 

Capital at Brickell:

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Anonymous

I hate seeing that ugly empty lot.
It’s unbelievable how long it’s been.

Anonymous

Well, this is Miami, what do you expect? I can show you lots downtown and beyond that’s been sitting empty for decades.

Anonymous

Maybe so but that is Downtown, this is Brickell in front of Barsecco, the Metromover, PM Restaurant, SLS, and One Broadway. They need to fill this in.

Peter

What’s your point?

Anonymous

Lets get this puppy sold and developed into some everyday retail (target big box stores), a hotel and some apartments asap!

Anonymous

You’re not good with money, are you ?! 😉 lolol

Anonymous

Although I can appreciate your sentiments that is not likely to happen, more than likely a developer will purchase it and build expensive condos for the wealthy. If, however, by some miracle they were to build big box stores in the bottom, they could still erect condos on top of it, the height restrictions would allow for both. Keeping my fingers crossed, this area deserves it and seeing this hole in the middle of Brickell is just sad.

Anonymous

I wouldn’t call it a puppy

Anonymous

Just went by this site on the metro and saw a couple tractors shifting some dirt around. Wonder how that might be related

Anonymous

The city demanded the owners build a wall to block off the unsightly site a few months ago. I wonder how that’s going. 😉

Anonymous

The fence was not because the site is unsightly but rather because it is dangerous

Anonymous

Hopefully it could be sold to an developer that will actually develop on it. By its size it might be sold in pieces.

Anonymous

God, please no. Just sell it as a whole so it can be developed as such.

Anonymous

Shame it wasn’t developed.
Those were two beautiful towers

Anonymous

Notice how the best building designs we’ve seen never get built in Downtown and Brickell?

Anonymous

Swire should buy and develop this site.

Anonymous

Too much trouble and unrest in hong kong to worry about this site

Anonymous

They should build one condo/hotel building and another one as an office. Then do lots of ground floor retail since it is close to metromover. That would activate a pretty dead area of brickell

William

I guess plaza construction (CCC) might not get the work afterall.

Anonymous

Plaza can’t handle that work

Anonymous

They should sell to Mana

Anonymous

Would have already been developed but the site is just too big. The inherent problem is that for a 2 tower project the developer makes his money only when the second tower is done. So if the towers are phased it becomes a very long payback. The second problem is since the construction is going to be so expensive many uses unfortunately just plain won’t work here, like big box retail, or Melo style apartments. Cheers

Anonymous

let melo build a few massive towers!! & add a Trader Joe’s & Target!!

Anonymous

Melo belongs in the Omni and Downtown, not in Brickell.

Anonymous

And where do you belong?

Anonymous

I live, work, and belong in Brickell. Next question.

Anonymous

I was born in Miami before there was JackSh*t or YOU in Brickell you “Johnny come lately.” You’re just getting in where you can fit in so don’t tell any developer or anybody else for that matter, where they “belong.”

Anonymous

I don’t know why this comment gets thumbs down… this person is right, if the Melo Group had owned that site, we would’ve seen a tower or two on it years ago.

Anon

because unlike the Omni area, where development was non-existent, this area is not the proper location for a Melo tower. This site is the crown jewel between Brickell and South Brickell and needs something special. Melo doesn’t know how to build special.

Anonymous

Unless it’s Aria on the Bay 2.0.

Anon

Aria on the Bay is not special. Just because it’s not tall, white and modeled after a bar code like the rest of Melo’s buildings doesn’t mean it’s special. Aria on the Bay is a POS. The building has 1 of 5 stars on Yelp.

Anonymous

Has Melo EVER paid more than $2pM for land?
Probably not….this land is 4oo% more than their biggest spend. They have found their niche and work it well on the north of downtown. The south of downtown is a LOT more expensive.

Anonymous

This land is too expensive for Melo to build his cheap and cheerful low quality apartments and make his money back.

Anonymous

What’s wrong with that?
You jealous?
It’s called the land of opportunities for something.

Anonymous

Yes please
Trader Joe’s is badly needed.
Why only Publix in the area.
BORING

Anonymous

Haha our development as a “city” being dictated by a foreign court.
How “Miami” can you get? The only issue is it’s not a Latin court. Lol

Anonymous

Lol, one project and all of a sudden an entire city is being dictated by a foreign court? Okay, boomer.

Anonymous

You dont seem to understand Private Property rights, our how courts work.