Related Group is keeping several downtown Miami area projects on hold – for now.
CEO Jorge Perez told the WSJ that “now is not the time” for projects the company has planned in the Brickell and Edgewater area, and that they temporarily remain on hold.
Perez added that he is confident that the market will strengthen in a year or two.
The article did not specify exactly which projects were on a temporary hold, but Perez was likely referring to two mega projects planned, One Brickell and Auberge. Each would have three towers, for a total of six.
One Brickell was first proposed five years ago in 2014, to be built at 444 Brickell Avenue next to the Brickell Bridge. It was planned to include three towers rising 82 stories (877 feet), 77 stories (828 feet), and 57 stories (635 feet) above ground.
One Brickell’s plans called for 1,400 residential units, 249 hotel rooms, 41,272 square feet of office, 24,263 square feet of retail, and 1,993 parking spaces. Arquitectonica was the architect.
Auberge was also proposed as three Arquitectonica-designed towers at 1400 Biscayne Boulevard. Sales launched for the first tower in 2016, before the project was scrapped.
Auberge would include 1,430 dwelling units, 1,680 parking spaces, and 13,150 square feet of retail, the plans showed.
At Auberge, two towers would have risen 60 stories (646 feet above ground) with a third at 530 feet above ground.
