Miami’s most expensive acre could soon be getting a sail-shaped 70-story condo tower with a lighthouse on top.
Developer Riverwalk East Development, LLC revealed the plans at a meeting of the Miami River Commission’s Urban Infill & Greenways Subcommittee last week.
The 817-foot tower is proposed to include 384 residential units and 561 parking spaces. It will be built at 300 Biscayne Boulevard Way, on the former Epic East site.
Condo units will be expensive and luxurious, with features such as private elevators. The company, which is controlled by Argentina’s Cotto family, paid a record $125 million for the 1.25-acre property last year – equating to an average land cost of $326,000 for each of the proposed 384 units (or $115 per foot of proposed residential F.A.R.).
Plans show a lighthouse on the 70th floor. Amenities, including a spa and pool deck, will span level 53 through 55, with penthouse units above. Revuelta Architecture and Argentina’s Bodas Miani Anger are the architects.
The Subcommittee’s Chairman Jim Murley and Ernie Martin recommended approval subject to following conditions:
1) Widen the planned public Riverwalk’s unobstructed “circulation zone” pathway from 12’ to 15’ wide (total public Riverwalk width is 24 feet, of which the actual pathway is a part)
2) Improve the public Riverwalk connections to the east at One Miami, to the west at Epic Phase I, and to Biscayne Blvd Way
3) Utilize the estimated $2 million “public benefits” payment to fund needed public benefit projects located within the impacted Miami River District