MIAMI- Locally based BAP Development and Alamagan Corp. plan to build 600 condominium units in two multi-story towers just off the city’s Brickell Avenue financial district. The Miami City Commission has approved a major-use special building permit for the multi-story high-rise. A ground-breaking date hasn’t been set.

The development team and its lawyer wouldn’t disclose further details which GlobeSt.com learned independently commission meeting records and the project’s building permit application. Construction industry estimators familiar with comparable projects tell GlobeSt.com the hard cost on the building alone will be at least $50 million.

Besides the residential component, the development team sought permission to build 30,521 sf of office space, 23,461 sf of retail and 843 parking units. The 1.8-acre site is at 30 SW 12th St., along the 1200 block of South Miami Avenue.

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