Turkish developer Okan Group has purchased land at 501 N. Miami Ave owned by the Central Baptist Church for $18.1 million and is planning a 1,000-foot tower.
Zoning allows 1,000 units per acre, and 864,000 to 1.3 million square feet. The lot is 37,500 square feet, and does not include the historic church.
Okan Group plans to develop a 1,000-foot mixed-use tower with retail, office space, a hotel and condos, a broker for the buyer told the SFBJ. Okan loves the site, which the broker says “epicenter of future development in Miami,” but they are not in a rush to build.
The company is developing projects in Turkey and Kazakhstan, and this would be their first project in Florida.
Okan is currently discussing plans with architects for the site.
I agree. I find myself not getting as excited for them. Now, if all of them where to rise or even lets just say 70% of them, it would rival NY in the super talls. Miami is still 2nd pound for pound in construction. But yeah, we need some to rise over here.
Plans to develop a 73-story mixed-use project at 555 N Miami Ave have been submitted by a developer.
The proposal includes:
73-story tower
956-foot tower height
362 residential units
300 hotel rooms
55,400 square feet of office
3,030 square feet of retail
9,820 square feet of restaurant
Miami’s Urban Development Review Board is scheduled to review the plans on October 6.
If approved, it would be built on a lot purchased by Turkish developer Okan Group from the Central Baptist Church.
Behar Font is the architect. According to documents submitted, the design was inspired by a tulip.
An application has been submitted to the Federal Aviation Administration to install tower cranes at the Downtown 5th construction site.
The first crane is to rise 591 feet above ground, or 604 feet above sea level.
A second crane is proposed to rise 550 feet above ground, or 563 feet above sea level.
Installation of the cranes is expected to take place in just a few weeks, on February 3. They will remain in place until August of 2021.
The twin towers of Downtown 5th are approved by the FAA for a permanent height of 495 feet above ground, or 508 feet above sea level.
Downtown 5th is the biggest residential project ever built in downtown Miami’s Central Business District. It will include 1,042 apartments and 12,506 square feet of retail in twin 53-story towers.
