Miami -- Swire Properties announced it has broken ground on its Brickell CitiCentre project, a $1.05 billion mixed-use development that is billed as the largest private sector venture of its kind in Miami history.
The 5.4 million-sq.-ft. property will include a shopping center, two residential towers, a hotel, wellness center, service apartments and two office buildings, together with underground parking. The project will entail redesigning and enhancing the Eighth Street Metromover station to integrate it into Brickell CitiCentre, and constructing two overhead pedestrian crossings connecting the retail center at South Miami Avenue and Southeast Seventh Street.
“This groundbreaking is a milestone event for us,” said Martin Cubbon, CEO, Swire Properties. “I have no doubt that our Brickell CitiCentre project will transform Brickell into Miami’s most vibrant commercial destination.”
The first phase, which includes all elements except for the high-rise office tower, is scheduled for completion in 2015.