Brickell Citi Centre back from the dead???? (Miami: hotels, money)

[TrulyJaicee]

Originally Posted by boxus

I live in Brickell, in one of the nice high rises, and I walk to work, entertainment, and to get day to day needed supplies.

I am not a real estate expert, but from my knowledge prices along the water front are starting at $1400 on up, may be able to find a slight few for right under that. A loft you can get for $1200.

I think the night life is good, and much better than where I am from which was dead at night, well unless you think Applebees is night life.

Unless someone works here, or works along the mass trans system, I see no reason no move here unless you really like the layout and looks of the place.

That tells me a little bit! Guess I need to explore the area some more on foot next time. Any ideas for the best place to park? I've driven some up and down Brickell before that bridge and can't find where there is easy public parking....

[WINTERFRONT]

Please ^^^^ don't get offtopic

[MiamiRob]

As stated SWIRE Properties is behind this development so I have no qualms that Brickell Citi Centre will be built. They have a distinguished record as developers for decades internationally as well as in Miami.
They are well financed too so I expect a class project from them but it depends on how long it will take!

PS: It goes to show how valuable Miami real estate is despite the ups & downs!

[WINTERFRONT]

UPDATES from another forum

Originally Posted by gixxer1000

For the people interested in Brickell Citicentre here is an update. I'm currently studying to get my Masters in real estate development and urbanism at U of Miami. As part of the orientation last week we were able to me a lot of developers and one of them was Swire Properties at their Brickell Key office. Both the president Stephen Owens as well as Christopher Gandolfo were there.They told us a lot about their history, how they acquired Brickell key and the philosophy of their organization. At the end they discussed their vision for Brickell CitiCenter. They did purchase it for about $40m and they believe they weren't the highest bidder but because they had cash they could close quicker which made their offer more attractive back in 2008 when they bought it. Obviously times have changed and they are not planning 3 towers. In fact they are not planning the 5 smaller towers show on the renderings on the website and at this point they are planning on 1 residential tower, retail and a parking garage. They are basically trying to figure out a way to put a couple stories of parking underground which due to the water table is very tough here. They described it as a swimming pool that keeps the water out instead of in. And they are projecting that this is going to take 4 - 5 years to get done. They feel many people are looking at the market through today's eyes and they feel it will be in a much better position 4 -5 years from now. Since they are a very large, diversified company this is what they specialize in, buying distressed properties and then holding them for years to capitalize later. Obviously most other developers aren't going to be able to buy a piece of land for $40m and then sit for 3 - 4 years before anything happens and then another 4 - 5 years before the project is complete. But Swire properties is such a small portion of the entire Swire corporation so they obviously have the capital to do so. The goal is to bring day to day retail the Brickell area which is what is needed. Restaurants and bars are opening by the month but there still aren't many places to buy clothes, electronics, housewares, etc. I asked if they planned something similar like the Target at Midtown and they said maybe not a target but places where you could get similar items.

SkyscraperCity - View Single Post - Brickell CitiCentre $1.3 billion mixed-use project slated for Brickell

[PapaPump]

Originally Posted by TrulyJaicee

I was considering renting in the Brickell area myself.... Do you all who live there like it? I don't work in the area, but am looking for a nice community with walkablility. From what I've seen there isn't too much happening unless I've missed something... Any area with some night life and good stores close by? Maybe closer to downtown Miami? I wouldn't mind a high rise with a great view also, if anyone has any suggestions... My budget allows me up to $1,200 @ month (for a 1/1 in the area unless I'm dreaming). Thanks!

When I first moved to Brickell over 3 years ago, there was not that much going on. Wow have things changed!! It's a small and charming neighborhood, and I love living here. Mary Brickell Village has a lot going on, along with other places along Miami Avenue, and the hotel bars. The supermarket, cleaners, bars, walgreens, gyms, and restaurants are all within walking distance. I would definitely move here.

[SFLrunner]

Thanks for the update Winterfront...I really like the idea of bringing the type of retail they have in Midtown to Brickell. I think that would be huge. I don't get the whole underground parking thing.......between the hurricanes and flooding in FL builing a garage underground doesn't make much sense.........

[WINTERFRONT]

Any updates???

[nick the one]

This would be a disaster-how about a park or low scale retail like mary brickell village.

[r_k]

Apparently this project is being revived:


http://www.miamiherald.com/2011/04/27/2188997/new-city-center-on-horizon-for.html#ixzz1Kpv4eZ8W

[JimboUSMC17]

Pretty cool. At least they are starting to build more stuff we can walk to at lunch time.