SkyRise Cost ‘Escalates Beyond’ $430 Million, Construction Expected By End Of 2016

The cost to build SkyRise is going up, and the developer is preparing to restart construction by the end of this year.

Jeff Berkowitz told Miami Today that the estimated cost to build SkyRise now exceeds the original estimate of $430 million. New attractions being added to the project have added to the cost of construction, he said.

The developer added that he is hoping to “recommence the construction” by the end of this year. Completion is scheduled for 2020.

Earlier this week, the developer announced a partnership with Legends, owned by the New York Yankees and Dallas Cowboys, to invest in, design, and operate SkyRise.

Berkowitz would not say how much Legends is investing in the project.

 

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Anonymous
5 years ago

Recommence construction by the end of this year probably so it can be completed in time for the Superbowl 2020. Cool.

Anonymous
5 years ago

I read somewhere else that Legends has the final say in the design of this tower.

marc
5 years ago

I think the design they speak of is solely regarding the interior as that’s what Legends is responsible for not the development of this project. They’re an entertainment management company.

Anonymous
5 years ago

Where did you read that ? Link please.

Anonymous
5 years ago

Ok found it. Legends will have ” some input ” into the final design. If they are investing wouldn’t they be allowed to have ” a ” final say ?

http://www.miaminewtimes.com/news/skyrise-miami-inks-deal-with-company-owned-by-dallas-cowboys-and-new-york-yankees-8557060

Edin
5 years ago

Somewhere

Chase
5 years ago

Really hope this dies before it gets too tall. It’s so, so ugly and really will not help Miami’s image (and skyline).

Anonymous
5 years ago

Agreed! It looks appalling.

suomynona
5 years ago

This could be the first uniquely Miami piece of architecture – something this entire website constantly yearns for – and yet much of this website is b*tching and moaning about the only current or proposed building that will actually distinguish Miami from every other Johnny-come-lately city/skyline.

Fredric
5 years ago

Exactly! They are bitching because of aesthetics, failing completely to understand that iconic structures which completely distinguish a city are of immeasurable importance not because of their perceived beauty but because of their iconic stature. When one sees an image of the Space needle they immediately think, “Seattle!” When you see a photo image of the Eiffel Tower what do you think you are looking at, Kansas City? Of course not! Everyone on the planet knows they are looking at Paris. Both of those structures were widely panned as being ugly when they were first built and both were originally intended to be only temporary centerpieces for the World’s Fair in their respective cities.

Sadly, when many outside of South Florida see a wide-view video or still image of the present-day Miami skyline, they think they are looking at maybe Chicago or perhaps Boston or, believe it or not, even New York but not usually Miami. And this is because Miami currently lacks the signature structure which clearly and universally identifies a city in visual imagery. If the Sky Rise does indeed get built, that will change instantly and forevermore. Soon after that it will be long forgotten that the SkyRise was originally considered by so many to be an eyesore.

Really?
5 years ago

We predict this project loses money for everyone except people getting paid fees upfront. And what a terrible site. Owned by the taxpayers.

mondocondo
5 years ago

Higher price doesn’t matter. Didn’t make sense before, makes less sense now. Cheers

Anonymous
5 years ago

Yep.

Anonymous
5 years ago

What a con of a project. Hideous design. Questionable funding. Minimal function. Only a few of the already billionaire backers will make millions when they aim to make this into some sort of trashy gambling site.

Anonymous
5 years ago

I think it would be cool to see, but I have no confidence in these builders. Delays and cost increases left and right.

Anonymous
5 years ago

I hope this project fails and does not complete. Terrible design and use of prime water and air space.

Anonymous
5 years ago

You must be out of your mind.
This is the best project for the area. It will bring thousands of people downtown, not just from Dade but Broward and the Keys. Cruise passengers will want to stop by before they get on their flights. It will be a win win project for downtown and Miami