MIAMI—At this point, to say that Brickell is booming would be an understatement. Beyond the $1 billion Brickell City Centre, other developers are getting in on the commercial real estate development action.
The latest to break ground on a Brickell condo is TSG Paragon Development. TSG is launching what it calls its “most innovative project to date.” Dubbed cassa brickell, the condo development is set to rise at 201 Southwest 17th Road.
“At our company, we firmly believe in delivering products that are created using the highest quality materials, providing dynamic lifestyle experiences,” says Camilo Lopez, president of Solution Group, a joint venture partner in TSG. “Cassa brickell will bring to the Brickell neighborhood what no other residential building has brought before—the boutique concept redefined.”
Lopez is offering more than hype. Developed in collaboration with architect Carlos Ponce de Leon, cassa brickell will be the company's second cassa-braded condo. The firm is billing it as the only authentic boutique development in the Brickell and Downtown Miami area, with amenities like a rooftop vegetable garden.
Cassa brickell's goal is to build a community with an active lifestyle in mind. The site is located in the Brickell Triangle, a quite area off of Brickell Avenue, and aims to offer a suburban neighborhood feel in a sophisticated downtown setting. A five-star hotel will soon rise in the same neighborhood.
The 10-story building will boast 81 units and 21 floor plans. Beyond the rooftop vegetable garden, the condo will also feature a rooftop open kitchen, pool, vertical garden and fitness center, and an on-site collection of original works of art.
“For two years we worked to create a true boutique living experience, sparing no expense on details,” says Lopez. “From the 21 varying floor plans for only 81 units, to the art on the walls and the garden on the roof, cassa brickell is unique in heart, boutique by design and big in idea.”
Cassa brickell is set to hit the market in the summer of 2016. The boutique Brickell condo concept is certainly resonating with buyers. Eighty-five percent of the released units have already been sold. That includes Penthouse 4, which sold for $1.25 million. Prices start at $398,000.
In other Brickell development news, joint venture partners Related Group and SBE Hotel Group recently secured a $157-million senior construction loan for its SLS Brickell Hotel & Residences project here with Los Angeles-based Canyon Capital Realty Advisors LLC. Berkley Insurance Company, a member company of W.R. Berkley Corporation, just signed a 21,363-square-foot office lease at 600 Brickell at Brickell World Plaza. And Hotel Urbano at Brickell, a 65-key boutique hotel located on historic Brickell Avenue in Downtown Miami, has a new owner. Finally, Echo Brickell is currently over 80% presold, and groundbreaking began after a $124 million construction loan in October.
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