Is Downtown Miami’s 70-Story Okan Tower Moving Forward?

Update: Okan Tower’s developer has announced that the project is moving forward.

 

Will Okan Tower begin construction this year and become Miami’s tallest tower?

Just yesterday, the developer was working on a tree permit from Miami’s Building Department to clear the construction site, according to city records.

But at the same time yesterday, a Miami broker was claiming on social media that the project is on hold. (the Instagram post has since been updated with a disclaimer that it was based on hearsay from an inside broker).

The project had been moving through the the permitting process in recent month and looked to be readying for groundbreaking.

In December, an application was submitted to build the tower at 902 feet , which would make it taller than any other building in Miami.

Also in December, the developer finalized a deal to bring water and sewer utilities to the project.

The developer had also filed on October for a construction permit from Miami’s Building Department, and had requested an expedited life and safety review.

 

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Anonymous

Damn I wish the Okan had brought another site downtown to build this building on instead of the site right next to Melo’s downtown 5th.

Why must so many good things go wrong and bad things go right in Miami?

Anonymous

Agreed^ Okan on Château’s 700 Biscayne Blvd would flow well.

Anonymous

Yeah, but that’s what you get for purchasing a cheaper lot with the potential for blocked views. Well, guess what? The crap hit the fan and this building is being blocked from all sides, not just the 5th towers.

Azarius

I like the spread of the height. Not all the tallest buildings need to be on Biscayne or close by the water.

Anonymous

Yes, but next to one of the ugliest future residential buildings downtown, surpassing Centro and MyBrickell, and across from a Federal prison?

Anonymous

Listen everything on Biscayne Blvd would look bad.

Anonymous

It would look like Dubai which has all of their tall buildings on pretty much one long a** highway

Anonymous

We can thank the Historic Preservation Board for that, because years ago for some dumbazz reason, they thought that all those dinky little old hotel and motels on Biscayne Blvd needed to be preserved.

Another example of why idiots need to get out of developers way in this city.

Anonymous

That preservation effort has revitalized Biscayne and the UES more than any skyscraper ever could.

Anonymous

Look again, the are is NOT revitalized. It’s littered with vacant lots, vacant retail and decrepitude.

Anonymous

Um, that’s Biscayne Boulevard along the Upper East Side. I WISH we had HPB save many of the bygone grand hotels from the 1910s and 20s. The McAllister, Columbus, Everglades, and Alcazar would be as famous, if not more than Ocean Drive. Freedom Tower looks so lonely.

Lidia Hernandez

Have any of you ever wondered how much per SQF was Okan asking??!!
Does this Location merit the insane number that they were asking?!!
Doomed to fail from the beginning, they had a gorgeous project on a
VERY WRONG site. End of story! They need to take this beautiful sculpture to a site were they can sell at 800 to 1000 dollars the SQF, or simply do something realistic for this site.

Anonymous

Well said. Lots of fanboy cheerleaders here will disagree, as they just hope the magic skyscraper fairy plops down beautiful towers irregardless of whether they can turn a buck for the developer, but they aren’t the target market of buyers and aren’t the ones fronting the development costs.

Anonymous

irregardless is a word that does not exist

Anonymous

Who GAF? Buyers for this project do not exist, grammer boy.

Anonymous

you meant grammar?

Anonymous

Lol!

Anonymous

I’m assuming you’re not from Miami… it’s a word that only exists in Miami lol

Anonymous

No actually you’re wrong, it IS a word. It’s in the Merriam-Webster dictionary.

Anonymous

Miriam Guester es la sobrina de mi marido. Ella se mudo pa un efisien en Alapata.

Anonymous

Lidia you are 100% correct. This building would have looked much better next to the Mark in Brickell or next to Infinity and One Broadway. That is where Okan belongs.

Azarius

What ppl are failing to realize is that this plait is golden and can demand 800 sqft because your close to all transit (2 blocks) and brand new mall and restaurants (MWC) and a new conference center and hotel. With water and downtown views at the height they were building. Yeah 5th Downtown blocks some views but that’s what happens in NYC so why expect anything less here

Anonymous

Honestly, I wouldn’t be surprised after 5th was approved and they noticed that building was going up quick, Okan developers were hoping to sell units that wouldn’t be obstructed until 5th went up. But if 5th is up first, those units facing it at Okan will go for a lot less.

Azarius

It’s hearsay. I have faith in this project

Anonymous

I think this building will get built and will be the envy of other big cities.

Anonymous

Let’s hope so!!!

Anonymous

Ok, who is going to pay those prices for views that will be blocked from all angles once the area has been developed.

Anonymous

Look at Brickell

Anonymous

a tall building, nice architecture, bringing something new to the skyline…it sounded too good to be true!!!

POLO

I think Skyrise will rise sooner than this tower. At least they are doing some piling on the Skyrise site.

Anonymous

No they are not, as there are no piles on site. Just pushing dirt trying to entice more investors. Neither tower will ever be built.

Anonymous

the broker did n’t sound too optmistic about this tower being built. he said that they did n’t get enough pre-sales to get a loan and that they missed Miami’s 6 year construction boom . at least melo is building their twin towers,that’s much better than having those empty lots. That should bring some activity to that area and may help them sell okan tower

Anonymous

Oh boy…here we go again!

Anonymous

On hold doesn’t mean it’s not going to be build or they are running into issues… On hold can mean anything! Developers set dates to break ground and they never go as planned… Trust me this project is going to happen just later than expected. Then again if it didn’t come out the horses mouth then take it with a grain of salt!

Anonymous

👏🏻👏🏻👏🏻

Anonymous

Since Melo is building apartment towers, Okan can scrap this building on this site they own and build a different tower on it that’s narrower but just as tall and build this Okan tower on another site they can purchase.

Just an idea.

Anonymous

I’m not holding my breath on this project and I say it with reservation and disdain but honestly, even with Melo building across, the area needs a miracle to make it worthwhile

Anonymous

They are so over budget its ridiculous. From a sub that has gone through multiple VE exercises on this project, i can tell you that its likely this may never happen.

Anonymous

I think it is fake news to show a rendered tower with no other buildings around it. Shame on them.

Anonymous

I can tell that noone here has experienced a category 4 / 5 hurricane…..if it hits downtown Miami it will be devastating….

Anonymous

Um, if you don’t live in some underground bunker in Miami a category 4 / 5 hurricane will also be devastating to your place.

Magazine

This project was going to have to have ultra luxury prices. The area is disgusting, I just never saw how both of those things could happen. Fingers crossed this beautiful project moves forward, but it never quite passed the smell test to me.

Anonymous

Area is up and coming with a lot of potential (pretty much describes all of Miami, but this area especially)

Anonymous

up and coming doesn’t sell high end units. Those buyers want a location that’s already there.

Anonymous

It’s best to buy now instead of paying more later.

Anonymous

High end buyers want the security of an established location, not a multi-million dollar gamble on whether a sketchy neighborhood hopefully improves over the next few years.

Frankly, being in a neighborhood blocks away from the Bay and next to a jail will make high end units there a nearly impossible sale. If you’re an aspiring Okan Tower agent, sorry not sorry. Thems da facts. It’s a beautiful design but it makes no sense here. If it did, they’d have already begun construction.

Anonymous

It’s amazing how some people can come this site and yakitty yak without giving one ounce of thought to what they’re saying.

Look, the reason that construction might delayed is because the Melo Group is building a two tower project that will have over 1,000 apartment units next to this tower. If you don’t think that’s going to have an affect on Okan’s proposed tower more than anything else, then you’re clueless. We already hear of buildings proposed and under construction in this area and the developers of them know already know that this area is an up and coming… unlike you who don’t have a dime in the game.

Anonymous

If you think this shitty locations doesn’t have an affect on pre-sales then it’s YOU who is clueless.

Anonymous

“shitty locations?”

Anonymous

I thought all those MELO towers were low-income / standard rentals?

NYC Loves Miami

And what about the buyers at Paramount? They must have a gambling problem. Oh wait! I think I just saw one playing a slot machine at Magic City Casino.

Lidia Hernandez

up and coming wont sell at 800 dollars the SQF

Anonymous

It sold at MWC and OM so it would sell here too. I think there’s more to the real story. We shall find out.