Swire: Brickell City Centre Already A Success, Committed To Second Phase

Publicly traded Swire Properties provided shareholders an update on the Brickell City Centre project earlier this month:

  • Despite a slowdown in Miami’s condo market caused by the strong dollar, new contracts for condo units continue to be signed. As of August 16, the developer has sold 349 out of 390 units at Reach, and 174 of 390 units at Rise
  • Condo units are being turned over to owners as rapidly as possible, and the company will realize a large profit on them this year
  • The mall at Brickell City Centre is on track for a November opening
  • 75% of office space at the project is now leased, with WeWork signing a deal for four floors last week
  • Swire says Miami’s office market is strong, and plans to “nudge up” lease rates on the remaining space
  • The Sugar rooftop lounge is proving extremely popular, with queues to get in on many nights

The first phase will wrap up with the November 3 opening of the mall. Swire’s Stephen Owens told Miami Today that the developer has a “commitment” to build two more phases over the next eight years.

 

 

 

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Anonymous
4 years ago

I built the north block portion of city Centre. 24 hour days were required to accelerate completion and to work around restrictions MDT had while working adjacent to metro mover during operational hours. This way the project finishes months faster which lessens the community impacts for the long haul. The faster we go the less we close roads and create traffic jams. The project filled a massive void in legitimate retail in the Downtown/Brickell. It’s good for everyone.

Anonymous
4 years ago

So you are a construction worker?

Anonymous
4 years ago

Does this mean that they are still committed to One Brickell city centre tower? I hope it gets built

wait
4 years ago

duh?

marc
4 years ago

The question should be is it part of the next phase or last one.

wait
4 years ago

My understanding is OBCC is the next phase and the north block is phase 3.

305
4 years ago

I hope that’s the case.

Alpina
4 years ago

I wonder if they are ‘committed’ to ‘finish’ in 8 years or to ‘start’ in with in the next 8 years…

Frank
4 years ago

The next two phases will be an 8 year project it seems. Give or take a year or two. I’m not worried about Swire, they have been full speed ahead with no signs of stopping since day 1.

Anonymous
4 years ago

Why do some people say like NYC? NYC has 200 years on Miami. We should not aim to be like anyone. Not that we will mimic but a more reasonable comparison would be Signapore.

Anonymous
4 years ago

Complete next two phases over 8 years.

CEC
4 years ago

Any time something great gets done, There is always one wart on the ass of progress (Brickellite).

ioannes
4 years ago

I just can’t get enough on how glassy and shiny it came out looking despite being plenty of condos.

Anonymous
4 years ago

Paint the ugly grey concrete – its an eye soar. How can you have a billion dollar project and leave exposed raw concrete. What blind architect is working for you

Anonymous
4 years ago

Maybe when all the inventory it has been sold…….and what about all the re sales from investors ?……70 % are investors who wants to re sale with big profits…..

wait
4 years ago

EIGHT YEARS????

Anonymous
4 years ago

sigh* I know.

Brickellite
4 years ago

What isn’t mentioned in this article is how BCC gave their middle finger to the local community by running 24hr construction (almost unheard of in a major US city) when it could have been done in regular intervals. Corruption at the city and county level anyone? How much $ did Swire contribute to Gimenez, Regalado and the other muni players to get 24hr noise waivers? They left a bad taste in the mouths of thousands of local area residents who had to take the noise, dust, and traffic closures for 2 years. A little respect of your neighbors goes a long way Swire. Wishing your venture little success.
MiamiToday, please investigate the campaign contributions of major developers and their green lit projects in the city. I can guarantee their is a story there.
Sincerely,
Brickellite

Anonymous
4 years ago

Always there’s got to be a complainer.

wait
4 years ago

I’m not going to lie, living in the area during the 24 hour construction was brutal but I looked at it as a sunk cost and well worthwhile given the tremendous positive effect it will have in our neighborhood… but I digress.

Anonymous
4 years ago

If you own that is.. if you’re a renter then there is zero benefit.

wait
4 years ago

I just lost brain cells

Luchiano
4 years ago

Get out of the city! This is exactly why this city hasn’t become a real city, because we have people like you. Move to the suburb!

ilovearchitecture
4 years ago

if we want to become a metropolis like New York we should get use to the 24 hours noise, don’t we?

this is the opposite of “the way to hell is paved with good intentions” in this case ” good intentions are reached thru hell” and when we see the final product and what is going to represent for the neighborhood it’s OK a little noise….

Oh! Dear, I assume you rent in one of Tibor Hollo buildings and even 3 or 4 blocks away from the construction site, you poor thing, you get to hear the noise!!!!, not my case..my condo has good insulation and a live near by and it was built by Swire

when you write…”Wishing your venture little success”…..that’s is bad karma, and when you see this company’s accomplishment with Brickell Key and now this project you don’t sound to me like a proud Brickellite, you sound more like a Cavern-llite!! ( I think, no neighborhood should be degraded by making you a citizen of them)

Any big city in the world and in history, from Imperial Rome to Paris, from Chicago to Shanghai has been build with some degree of corruption, are we the exception?

Anonymous
4 years ago

There are/were no completed buildings immediately next to BCC…the closest condos would be MyBrickell, 500 Brickell, and Brickell on the River 1-2 blocks away and those are budget buildings my Brickell standards so you can only expect so much. They likely allowed 24 hour construction for this reason.

wait
4 years ago

That was cute but lets be real anything completed between Brickell and Miami Avenues within the last 10 years are not considered “budget buildings”. Your reality is deranged.

Anonymous
4 years ago

I said “by Brickell standards”, but that’s cute that you think MyBrickell and 500 Brickell are anyhing close to “luxury” buildings. I’m used to higher standards than you I guess.

Yo
4 years ago

Do you have an idea how many workers benefited from the 24 hrs construction?
As crazy as it sounds, we should appreciate the amount of jobs that the contructions of those luxury condominiums are bringing to the whole South Florida area.