The foundation has been poured for what will become Brickell on the River North after Groupe Pacific, the project's developer, obtained the financing late last year through Bank of America. The north tower will consist of 384 units on 42 stories with a mix of one-, two- and three-bedroom units ranging from 757 sf to 1,513 sf. The north tower is very close to being sold out, with few units remaining at pre-construction prices, a spokesperson says.

"We were very satisfied with the absorption," Michael Bedzow, president of developer Groupe Pacific's US operations, tells GlobeSt.com. "We developed a product that we felt would satisfy the market.

"We have been in business for 30 years in South Florida condominiums, and we have a very strong interest in market research and understanding the market," he says.