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.
Miami’s tallest tower will break ground this year no matter how many condo units are pre-sold, the developers have announced.
Okan Tower is planned to be built at 70 stories and 890 feet above ground, which is taller than any existing building in Miami or the state of Florida (the developer previously applied for a taller height with the FAA, but a spokesperson told The Next Miami that it will be built at 890 feet).
A sales director for developer Okan Group told the SFBJ this week that construction would begin this year regardless of how many units have been sold.
Construction will be self-financed, in contrast to other developer who must wait for 50 to 60 percent pre-sales for financing, the sales director said.
About 12 percent of units have now been sold, he added.
Okan is now finalizing the hiring of a general contractor. Completion is scheduled for the fourth quarter of 2022, due to the complex nature of construction.
Okan Tower is one step closer to beginning construction.
On September 1, contractors filed a dry run permit to begin building a 70-story tower, city records show.
Next week, a phased Class II foundation permit will be filed, along with a master building permit, a consultant working for the developer said.
The filing last week included:
500 sheets for review by city officials
$457,707.60 upfront permit fee
$163,466,625 total cost of construction
318,090 square feet of hotel, with 294 rooms on 19 floors
512,080 square feet of condo, with 398 rooms on 33 floors
66,920 square feet of office, on 4 floors
37,005 square feet of retail on 1 floor
934,095 total square feet to be built
The hotel will be known as the Hilton Bayfront.
Okan representatives previously told The Next Miami that the tower will top of at 890 feet.
Currently if it were to be completed. There are taller proposals out there but this one is set to rise. This, 830 Brickell, and Aston Martin will all be over 800 ft.
Okan Tower’s developer has signed a deal with Miami-Dade to connect with the county’s water and sewer system, as the start of construction nears.
Connection charges totaling $1,036,706 will be paid by the developer as part of the deal.
As is standard practice, the connection charge is calculated based on the number of units being connected to the utility system. The agreement states that Okan Tower will include:
2,982 square feet of retail
34,191 square feet of office
8,645 square feet of full service restaurant
300 hotel rooms
370 apartments
15,652 square feet of retail (meeting rooms)
Last week, a consultant working for the developer told The Next Miami that the developer was close to selecting a general contractor from several competing firms.
Okan Group announced today in a press release that they have selected Suffolk Construction as the general contractor for downtown Miami’s Okan Tower.
“We are thrilled to welcome the Suffolk Construction family to our robust team,” said Bekir Okan, Chairman of Okan Group. “Okan Tower will be a landmark addition to South Florida and it’s only fitting to partner with a company whose local and national reputation is impeccable, as well as one that we trust.”
Groundbreaking is expected before the end of the year, the developer said.
The $300 million tower will become the tallest residential building in Florida upon completion at 70 stories and 890 feet above ground, in a shape inspired by the tulip, Turkey’s national flower (Okan Group is based in Turkey).
Suffolk’s other nearby projects include the guitar-shaped $1.5 billion Seminole Hard Rock Hotel & Casino Hollywood tower, and Brightline’s Miami Central
“We are honored and privileged to have an opportunity to begin a long-term partnership with Okan Group,” said John Fish, Founder, Chairman and CEO of Suffolk. “This is an exciting project for our team and it will be a pleasure partnering with an organization that shares our vision for innovation and the future.”
Okan Tower will include 149 residential condominiums, 236 condo-hotel units, and a 316-key Hilton Bayfront Miami hotel, along with 64,000 square feet of Class A office space and ground floor retail.
======================= NXT
