Construction to Begin on Miami Mixed-Use Development
Swire Senior VP of Development Christopher Gandolfo announced in a statement last Wednesday that construction of the long planned Brickell CitiCentre project will begin at the end of June. According to Swire, this project will bring 1,700 contruction jobs and 3,500 permanent jobs to the region.
Swire Properties announced its plans for a major new mixed-use development in Miami in February of this year. In Wednesday's statement, Swire said that it had four firms competing to bid on the $100 million contract to build the foundation and underground parking garage below the development. Those four are Balfour Beatty, Americaribe Inc, (a subsidiary of Bouygues Bâtiment), Turner Construction in partnership with Dragados USA, and Oderbrech
Located strategically in the centre of the Brickell financial district of Miami, the Brickell CitiCentre development will offer a gross floor area of approximately 2,891,000 sq ft (excluding car park), including 520,000 sq ft of shopping and dining, three office buildings, two residential towers and a 243-room hotel with 93 serviced apartments. The site incorporates a station on the Miami Metromover light rail and offers easy access to Interstate 95. The Company acquired the four parcels of land which make up the 394,000 sq ft site in 2008 and 2011, and expects to begin construction by the second quarter of 2012.
“We are very excited about this project,” said Swire Properties’ Chief Executive Martin Cubbon. “We felt that acquiring the site at Brickell CitiCentre was a compelling investment, in that it offers us a rare opportunity to develop within the heart of a thriving financial district. We’re very keen to expand our presence in Miami by doing what we do best — developing large-scale, mixed-use complexes anchored by retail.”
Explaining the choice of Miami, Florida for the Company’s latest development, Cubbon remarked, “We are a highly-respected developer in Miami, with 30 years of operational experience in the city and strong relationships with the community. Miami’s economy is benefitting from investments from its southern neighbours in South America, and we see strong growth potential for the city. The location of Brickell CitiCentre offers an excellent opportunity to attract business both from local businesses and residents as well as visitors. We’re confident that Brickell CitiCentre will transform the Brickell neighbourhood and become a key urban destination.”
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