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Text by:

ADAM MIZRAHI

Aerial photography courtesy of:

AERIALS, INC.

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In January of 2005, the Miami Today News reported that 58,317 residential condo units were planned for Miami. Downtown and the surrounding areas were to benefit most. Of those reported, the Miami Today News claimed that 32,732 units were planned for the Downtown/Brickell sector and 7,240 for Wynwood and Edgewood directly to the north. By April of the same year, only four months later, USA Today noted that more than 69,000 condo units were planned, under construction, or newly built in the city. Miami was booming. Las Vegas, the next biggest construction market had only 40,000 units for all types of housing at this time.

The press reveled in Miami's success story and on May 22, 2005, The Miami Herald published a special spread announcing "Miami's New Skyline". Over ninety projects, some with multiple buildings, were, reportedly, under construction in or around Downtown. This article listed and illustrated many of those projects, including some of Miami's most ambitious development plans. Brickell, the city's financial district, boasted numerous projects among which were Icon Brickell, a massive $1.3 billion three-tower development comprised of condominiums and a luxury hotel, as well as the Capital at Brickell by Coral Gables based Fullerton Diaz Architects, a two-tower development reminiscent of the Empire State and Chrysler buildings in New York City. In Downtown, other impressive projects were planned or under construction. This included Metropolitan Miami, a large-scale, multi-building development as well as the Empire World Towers, a pair of 1,000+ foot buildings designed by Kobi Karp.

New buildings promised to stretch the skyline further north with projects like Marina Blue and Marquis designed by Arquitectonica, Ten Museum Park designed by Oppenheim Architecture+Design, as well as 900 Biscayne and Paramount Park designed by Revuelta Architecture International, all local firms. Even the once peripheral northern neighborhoods were becoming engulfed by Downtown's growth boasting ambitious projects such as Ice and Quantum Towers.

This was the zenith of Miami's recent boom years. So many projects and changes were proposed for the city that it was often difficult to keep track of them. Today, however, the question remains: how much of the proposed development was actually built? Did the 69,000 units in over ninety buildings get completed since the release of that The Miami Herald article in 2005?

DEVELOPMENT TRANSFORMS MIAMI
Today, with the housing bust and the consequent recession, Miami's skyline is virtually free of the construction cranes that defined it just a few years ago. However, much of the construction that did begin prior or during the bust has been completed. New towers have risen and residents are moving in. Brickell and Downtown Miami—parts of the city long thought of only as work centers—are quietly transforming into thriving, mixed-use communities. Nevertheless, not everything planned or proposed was actually completed. The Miami Herald reported early this year that since 2003, developers began construction on just 22,000 condo units in Miami's greater downtown area; that is only a fraction of the 69,000 condo units expected in 2005.

An analysis of that 2005 Herald article reveals similar statistics. Of the ninety projects noted, 53 projects have been finished or are nearing completion. Thirty four have yet to break ground, two are still under construction, and one seems to be halted after significant progress.

Brickell has been perhaps the biggest beneficiary of the construction boom. In an area long considered primarily a banking center, massive residential projects such as the three-tower Icon (1796 units), the two-tower 500 Brickell (633 units), and the two-tower Plaza on Brickell (1000 units)—all developed by the Related Group—have added almost 3,500 residential units to a small section of the city. A few blocks to the west, several two-tower developments have also emerged: Axis (718 units), Brickell on the River (711 units), and 1060 Brickell (576 units) soar, in some instances, to 50+ floors adding almost 2,000 condos and lofts to the area.

Yet, as a presumable consequence of the sudden drop-off in the economy, other multi-tower developments are only partially completed to date. Infinity at Brickell (459 units) developed by DYL Development Group, has only completed the first of the two planned residential towers. Infinity II (559 units) is yet to break ground. The Skyline at Mary Brickell Village (369 units) is also missing. While the retail mall portion of that development is finished, the residential tower is not. A few blocks south, 1450 Brickell developed by the Rilea Group changed from condos to commercial offices after sensing an overbuilt residential market. Many other projects did not even reach partial completion. A large hole in the ground marks the site of the Capital at Brickell (888 units). 1390 Brickell Bay (364 units), a 49 story tower was cancelled and deposits were returned. The waterfront site of Villa Magna (787 units), a massive, two-tower luxury development by Florida East Coast Realty, is now being re-envisioned as a temporary city park until the market recovers.

The 5.6 acre site of a $2+ billion, three-tower, mixed-use project called Brickell CitiCentre (2,424 units) stands empty at the present. The Premiere Towers (560 units), The Pointe at Brickell Village (348 units), as well as the Brickell Flatiron (554 units), a soaring glass structure designed by acclaimed Mexican architect Enrique Norten, have all shared a similar fate. In fact, many of those lots now display "for sale" signs.

To the north of Brickell, in the center of Downtown Miami, the situation is comparable; though development has changed the face of the urban center, not everything proposed was actually realized. The Related Group made its mark by adding 2,039 condo units with 50 Biscayne (528 units), One Miami (893 units), Loft 1 (196 units) and Loft 2 (496 units). Nevertheless, Loft 3 (495 units) has not begun construction and Loft 4 (404 units) was cancelled. Cabi Developers, completed the two tower Everglades on the Bay (849 units) along Biscayne Boulevard and a few blocks north, along the same road, a formidable row of massive skyscrapers now forms the "Biscayne Wall." This group of residential towers includes Marina Blue (516 units), 900 Biscayne (516 units), Ten Museum Park (200 units), and Marquis (316 units). Falling short of connecting these buildings with Downtown are three undeveloped blocks. These include the site for Paramount Park at 700 Biscayne (300 units + 286 hotel rooms), the Revuelta designed Freedom Square Tower at 600 Biscayne (680 units), and the proposed school building for Miami Dade College. Though centrally located but often overlooked are the neighborhoods of Park West and Overtown. At the moment, this area remains mostly untouched by development. Planned buildings such as Sawyer's Walk (1,050 units), an affordable housing complex on public land, is yet to begin construction. A little to the north, the largely completed Filling Station Lofts has shown no apparent activity in more than a year.

At the mouth of the Miami River in Downtown, the 6+ acre Metropolitan Miami complex designed by Nichols, Brosch, Wurst, Wolfe, & Associates stands only partially completed to date. One of three planned towers, Met 1 (447 units), was built as a condo, while Met 2 (450 units) was changed from a single residential tower to two towers housing commercial space, offices, and a Marriot Hotel. Met 3 (696 units), which, at one time, was to be Miami's tallest residential building, has not begun construction. Of 1,593 units originally planned in the complex, only 447 have been completed. Met Square, a retail and movie theater component, is also missing.

Along the bank of the Miami River, on the site of the old Dupont Hotel, developer CMC Group has completed the first of two planned buildings. Epic Miami Hotel and Residences, a mixed-use condo-hotel (342 units and 414 hotel rooms) has finished construction and has opened to the public while the site of Epic 2 (596 units) still remains an empty lot.

Several blocks west, another large riverside project seems to be stalled midway. Appropriately named River Front, this complex of nearly 2,000 planned residential units has three of its six high-rise condominium towers completed to date. These are The Ivy (504 units), Mint (531 units), and Wind (496 units). The missing buildings include CIMA (507 units) and others yet to be named.

The peripheral neighborhoods on the northern edge of Downtown, house the lots of many unrealized projects as well. While the Performing Arts Center designed by Cesar Pelli was completed independently of the construction boom, it was the catalyst for many proposed projects surrounding it. Some of these unrealized projects include the Cardinal Symphony (896 units) and Citi Square (942 units), an ambitious mixed-use, multi-tower residential and retail complex. Nearby, the old OMNI mall is now undergoing a significant redevelopment. However, the owner's original plans actually called for the demolition of the existing property in favor of a new, grander, and more ambitious plan totaling $1.29 billion with more than 4,200 residential units and 350,000 square feet of retail.

On a positive note, much of the development planned adjacent to the OMNI and along Margaret Pace Park, was indeed completed. New towers such as 1800 Club (467 units), Quantum on the Bay (698 units), and the Opera Tower (635 units), have dramatically altered the skyline and have helped to revitalize this neighborhood. Even Paramount Bay (346 units), developed by the same developers of the unrealized Paramount Park, now stands completed.

Although Downtown Miami and the surrounding neighborhoods have changed drastically with the addition of dozens of new soaring skyscrapers, a considerable percentage of the projected development was not realized and many new buildings sit next to empty parcels. Economically, this means that much of the projected condominium overbuilding did not occur. While many experts were expecting years of oversupply, Miami's Downtown Development Authority released a report in June of this year stating that 62% of all residential units completed since 2003 are occupied and the closing rate is accelerating despite obstacles to financing.

This report highlights the strength of the new Downtown Miami. Even in tough economic times, 98.6% of the closed units are occupied by owners or renters. Monthly sales and leasing activity of new units has been averaging 350 units per month. According to the report, US Census projections show that the number of Downtown residents has grown from 40,000 to 60,000, with an additional 10,000 residents expected to move in over the next six years. Considering the recent economic downturn, Downtown Miami is holding up well.

THE CONCRETE KEEPS POURING
While the dust of the condo boom has settled, the office market has been helping to buoy the local construction industry. Though in no way comparable to the frenzied development of the past, three large class A office towers are underway. These are: Met 2, the second development in the Metropolitan Miami complex, Brickell Financial Center along the north end of Brickell Avenue, and 1450 Brickell rising on the south end.

The government has also been busy contributing to the urban fabric of the city. In Overtown, next to the Metrorail station, the second tower in a development called the Overtown Transit Village is nearing completion. New housing developments in or around Downtown Miami have also required the construction of new public services. The new City of Miami College of Policing and Miami-Dade County Public Schools Senior High School for Law Studies is under construction at the Government Center. To the east, the new Miami Children's Courthouse by architecture firm HOK should begin construction in early 2010. In Brickell, a new and considerably enlarged urban Southside Elementary Magnet School is now almost complete.

SIGNS FOR THE FUTURE
Perhaps most exciting is that some developers seem to be testing the water for what could herald the return of large-scale construction to Downtown Miami. Developers for Bayview Marketplace, a $200 million mixed-use commercial project north of Downtown have announced that they will break ground in December of this year. Developers for the Symphony Towers near the OMNI have also slowly been moving ahead with a redesign for this mixed-use project. They hope to break ground in two or three years.

According to Skyline Equities Realty, developers plan to restart work on the Skyline tower at Mary Brickell Village. Devleoper Tibor Hollo and the FECR have been quite busy as well. Just recently, they announced plans for building the Mikado Hotel, a mixed-use development that should be completed in 2011. Designed by Miami-based firm Zyscovich Architects, the tower will be located across from Margaret Pace Park rising 40 floors with a 252 key mixed-use hotel, 120 suites, 40,000 square feet for medical offices, and ground-level urban retail.

FECR is also moving forward with a redesign of the iconic One Bayfront project. Terra Architecture has modified the initial design into a single 1,010 foot tower atop a 24-story pedestal. If constructed, at an estimated 1.8 billion dollars, One Bayfront would become an instant landmark as the tallest building in southeastern United States. The project remains on track for ground-breaking in 2011 and for completion in 2015.

The South Florida Business Journal reported that Mr. Hollo has also completed the purchase of 1101 Brickell from the split development partnership of Leviev Boymelgreen. The site, currently occupied by two smaller buildings, has an approved permit to build a 74-story, mixed-use project with 270,000 square feet of office, 30,000 square feet of retail and 650 residences.

Adding interest to the future of Miami's development are some of the most interesting and most highly debated projects. The long-awaited Miami Art Museum by internationally renowned architects Herzog and de Meuron is moving closer to construction. According to Heather Steliga, the Communication's Director at the Miami Art Museum, the museum is planning a "green breaking" in October of this year to remediate the land. All leases and agreements have been signed on "the most beautiful site that could possibly exist for a new museum in the United States", according to Steliga.

Adjacent to the Miami Art Museum site, a new and ambitious 3-story science museum, aquarium, and planetarium designed by London-based firm Grimshaw Architects is also planned. Grimshaw leads a team including engineers Ove Arup, Syska Hennessy, Atelier Ten, as well as locally based Rodriguez and Quiroga as the executive architects. According to Tony Lima, the Vice President of Communications, the museum has just recently completed the preliminary concept design phase and is moving towards a public capital campaign to raise needed money. Plans remain on track for a 2013 opening.

The site for both buildings will be the new Museum Park designed by New York planning firm Cooper, Robertson & Partners. According to John DePazos at the City of Miami Planning Department, the park is scheduled to be completed in two phases pending completion of the design and allocation of funding. The first phase involving the underground parking garage is scheduled to break ground at the end of this year and the second involving the actual park is scheduled to begin sometime in early 2010.

Across the bridge on Watson Island, Flagstone Property Group is set to begin construction on Island Gardens' 50-slip mega yacht marina, the first component of the development. When fully realized, Island Gardens is expected to contain retail spaces and a 150 guest room Shangri-La Hotel with 98 residences. A second hotel is also planned for which a management partner is yet to be announced.

Large-scale redevelopment projects, similar to those planned during the housing boom, are still being hatched. Miami WorldCenter, a huge urban redevelopment project in Park West, hopes to transform an ocean of surface parking and empty lots into an urban, mixed-use, multi-building development. With up to 12 million square feet of buildable area across nearly 25 acres of prime downtown real estate, if realized, it is poised to become a magnetic global destination.

New and ambitious developments are on the horizon and they will continue to shape Miami. Already, Downtown has been deeply transformed by a wave of development that has brought residents into the core of the city for the first time in decades. The unprecedented condo boom has not only been large enough to serve as a real catalyst for change, it has also laid the groundwork on which a new 24-hour, mixed-use downtown can emerge and thrive. While Downtown condo construction has temporarily come to a halt, a small wave of commercial building and public works construction continues. Retail, as well, will play a large role as dozens of establishments in new buildings are outfitted with services for new residents.

Despite a global recession, it is important to note that Miami's developers remain active, albeit at a much slower pace. While many smaller and foreign developers have left the city, well-financed companies are preparing for the eventual end of the recession with big plans. The possibilities in Downtown Miami remain as attractive as ever, with land still widely available throughout the city.

For many, the boom heralded a future for Downtown that still remains as valid as ever. If this is indeed the case, Miami is poised to, once again, reclaim the international spotlight.