"I think it's a magnificent project, but we need to take a step back and look at the market that we're in," says Alan Kaye, managing director of Sperry Van Ness Kaye commercial investment group in Boca Raton. "With anywhere from 20,000 units to 60,000 units in construction or on the drawing board in South Florida, I don't see a market for this property in this economy at all." He says a growing concern about the downturn from banks, and even from extremely high-net-worth individuals, makes the project a huge risk in today's environment.

The architect will be hard-pressed to find a developer because so many are in the process of cleaning up existing situations that haven't gone as expected, says Kaye. "The firm doesn't have a location and financing is going to be a huge issue in this market," he adds. Financing could also be a huge challenge for the project, from construction loans to those for end users.

On the other hand, it could appeal to a wealthy audience that has to have the newest and best toy in the marketplace, says Kaye, but adds, "I think it's a little ahead of its time, especially in this economic climate. I don't think we have sufficient information yet about how the building will actually work, and because of that I don't see who's going to buy this unseen."

Fisher admits he had doubts about proposing a project in Miami because of the city's current real estate situation, which centers on thousands of unsold urban condominium units. but says "top luxury and iconic buildings will always work." An iconic building like Dynamic Tower has the power to change the downward real estate trend, he says.