Developer Michael Simkins is planning to build a media and advertising display tower called the Miami Innovation Tower in Park West.
The tower will be part of a larger Special Area Plan for the area call the Miami Innovation District, which includes the former Greyhound facility (more on this coming soon.)
The proposal calls for a 633-foot tower clad with illuminated digital mesh screens that will display advertising, video and other information. It meets Miami 21 zoning requirements, according to city officials, and is also in an area designated by planners as a possible location for a media tower.
The tower will have a twisting appearance, and will be covered with five display billboards, some of which will rotate 30 degrees. The ‘hovering base’ of the tower is being designed to be pedestrian friendly, and will include exhibition and media facilities.
The Southeast Overtown / Park West CRA stands to gain millions from the new tower. Under a plan set to be voted on next week, the CRA will get 3% of gross advertising revenues from the tower, with a minimum of $1 million dollars per year (set to increase by a minimum of 3% each year.) The developer will also pay $3 million to the agency when a construction permit is issued, and $2 million when construction is completed.
New York’s SHoP Architects is designing the tower.