MIAMI | Brickell CityCentre | 159m x 2 | 520ft x 2 | 157m | 516ft | Com

Swire gets $150M loan, prepares construction on Brickell CitiCentre
March 08, 2012 04:30PM

Swire Properties has secured $140 million in financing to begin work on the first phase of its massive Brickell CitiCentre development, the South Florida Business Journal reported. Thanks to the loan, which comes from HSBC Bank, the first phase of the $1 billion project could be complete before 2015 is through.

The loan will be used to fund design, development and some construction costs for the 520,000 square feet of retail, three residential towers, two 110,000-square-foot office towers, 243-room hotel with 93 apartments and 3,100 parking spaces that comprise the first phase. The second phase calls for a 750,000-square-foot office tower.

The project is planned for 9.1 acres between Brickell and South Miami avenues from Southeast Sixth through Southwest Eighth streets. Swire CEO Martin Cubbon said the development “will transform the Brickell neighborhood” that’s “benefiting from investments by its neighbors from South America.”

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Hong Kong-based developer Swire Properties broke ground today on its massive Brickell CitiCentre project in downtown Miami, in what could be the beginning of substantive westward expansion across South Miami Avenue. The nine-acre, $1.05 billion project is planned to include two office buildings, two residential towers, a hotel, a wellness center, service apartments and 520,000 square feet of retail and entertainment space.

“The most important thing out of the many important things with this project is that they have moved progress toward the west,” Miami Mayor Tomas Regalado told The Real Deal. “Miami Avenue was just an imaginary line that developers wouldn’t cross to the west, and what this is doing to West Brickell is making it explode as a potential center for real estate and construction.”

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erbse said:

Nice for Miami. Hope it'll ad some urbanity to downtown.


On that last render, it looks like they changed the design of the tower to the left, ja?

Those towers could look a little more smooth and elegant, not that random and generic.

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Swire Properties is by no means playing around getting Brickell CitiCentre, that multi-block, billion dollar megadevelopment filling up the center of Brickell, off the ground. Construction workers are at the site 16.5 hours a day, from 7:30 a.m. to 10 at night, including weekends. Here's a pretty groovy construction shot, from the 8th floor of mybrickell, that almost-as-interesting building under construction across the street.

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The most detailed rendering yet of the massive Brickell CityCentre megaproject has emerged on exMiami, showing a substantially more resolved and detailed design than the last iteration. They've made major progress on facade details, including a shifty-plane look on the lower floors with strips of light between the cracks. The canopy over the mall is a little more realistic looking, and the tops of the towers have coordinated profiles. Oh, and they've got a new website, reflecting the project's slightly tweaked new name: brickellcitycentreconnect.com.

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RegentHouse said:

I still find the design relatively boring compared to the building boom version, but I hope it will attract upscale retail downtown before the Design District takes everything.

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Swire Properties is about to announce a northward expansion to their already-gigantic Brickell CityCentre megaproject, according to the admins of the exMiami forum, adding the block bounded by South Miami Avenue and Southeast First Avenue, from Fifth Street to Sixth Street to the project (bounded by the red rectangle, above). Yep, that's an entire block of 'Brickell Green Space', those two empty blocks that local urbanists were trying to save as a public park.

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