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.
The project fills a niche with its high-amenity urban lifestyle on the river, Bedzow says. The first-class amenities will include a five-level fitness center with separate floors for men and women in the north tower, as well as a riverfront café and promenade, a private club room, an 11th-floor pool and sundeck with bay and city views.
Brickell on the River South will consist of 319 units on 46 stories. Each unit in this tower will be two stories with glass walls. The one- and two-bedroom units and two-bedroom-plus-den units will range in size from 826 sf to 1,476 sf. According to Bedzow, the south tower will become the first condominium Downtown to feature all two-story homes.
Groupe Pacific is a diversified international real estate company with US headquarters in the South Florida city of Aventura. Groupe Pacific develops multi-residential projects, including both condos and rental projects, as well as office and industrial properties. The company is also responsible for L'Excellence, La Gorge Palace, the Sterling and Sunset Harbor Condominiums in South Florida, where it has completed about 4,000 units and about $1 billion in sales in the last 30 years. Prodigy International Development Sales is the project's exclusive sales and marketing agency. The project's architect is Cohen-Freedman, Encinosa and Associates.
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