The 57-story tower will rise 644 feet above ground, or 649 feet above sea level – the maximum permitted in the area. Approval took less than four months for the FAA to issue, and expires in March 2017.
Just two units will be built on each floor, for a total of 100 units. Pricing averages $750 per square foot.
Construction is expected to begin in the first quarter of 2016. Two Roads Development is the developer of both Elysee and nearby Biscayne Beach, which is already under construction.
Elysee has filed papers with the county stating that they are starting construction on a “first-class high rise condominium.”
The developer filed a modified Notice of Commencement on July 26. It states that the following is work is underway:
Construction of a condominium building consisting of one hundred (100) first-class high rise condominium units and a parking garage containing two hundred forty (240) parking spaces, together with other commonly used facilities, including but not limited to, a lobby, a fitness center, pools, a club lounge, storage lockers, and spa.
The NCO modifies one that had been filed by the developer in February, which had stated that only the seawall and related work were under construction.
Later this month, the developer will hold an event to celebrate commission payments to brokers.
