MIAMI-Swire Properties is laying the groundwork for Brickell CitiCentre (BCC), a nine-acre mixed-use development in the heart of Miami’s Brickell Financial District. City of Miami Mayor Tomas Regalado and Swire Properties President Stephen Owens jointly announced the submission of the BCC Special Area Plan.
“Brickell CitiCentre has the potential to be an anchor for downtown Miami, bringing major retailers and an economic boost to the heart of our City,” says City of Miami Mayor Tomas Regalado. The plans include 4.6 million square feet of retail, office, residential, and hotel components. A total of six towers will sit atop a substantial retail complex.
BCC is the largest registered urban mixed-use LEED Neighborhood Development projects currently being planned in the United States. The site is bounded by SW 8th Street on the south and SW 6th Street on the north and between Brickell Avenue on the east and SW 1st Avenue on the west. The original acquisition for Brickell CitiCentre was completed in 2008.
“Brickell CitiCentre will be a game-changer for downtown Miami, enhancing its emergence as a vibrant urban core,” says Stephen Owens, president of Swire Properties. “The project will bring significant retail opportunities to the area and activate our streets with a pedestrian-friendly experience. It is a natural next step for Swire Properties, which has been active in Brickell development for nearly 30 years.”
Plans for Brickell CitiCentre include landscaped sidewalks and plazas accented with public art offerings. These will create an interaction with adjacent streets and the Metromover system. Environmentally-conscious elements include a signature elevated trellis, known as a “Climate Ribbon,” providing overhead shading, water collection and solar energy.
According to an independent study by Miami Economic Associates, BCC is expected to generate $1 billion in overall economic impact. An average of 1,700 jobs per year during a four-year construction phase and roughly 3,800 jobs on an ongoing basis upon completion are expected to be created.
Miami City Commissioner Marc Sarnoff tells GlobeSt.com the time is ripe for BCC: “There’s less than two years left of condo inventory. The condos are 85% occupied. The inventory was absorbed five times faster than anyone has anticipated. This development means $5.6 million worth of ad valorem taxes. On a scale of one to 10 this is an 11.”
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