Terra Group and partner Apollo Global Management have submitted a proposal to redevelop downtown Miami’s College Station Garage with two towers.
The two towers are being designed by architect Bermello Ajamil. They feature a “striking and iconic” design with vertical ribs that will “crown” both towers.
The height of the two towers will both be 52 stories, or 640 feet above ground.
The project is proposed to include:
The existing garage is a seven-story building with 1,439 spaces. The new development would also have seven full levels of parking – and the parking floors will be lined with residential.
The project would be built in phases, allowing the existing garage t0 remain partly open while the first phase is under construction.
Completion of the first phase is estimated for 2026, with the second phase in late 2027.
The developer are proposing a 99-year lease, with rent payments throughout that gradually increase.
A partnership between Related Group and ROVR has filed a competing bid. An MPA committee has ranked the Related/ROVR proposal first, according to the Real Deal.
The MPA’s Off Street Parking Board is scheduled to vote on the proposals at a meeting on February 2.