Groundbreaking Ceremony Held for Swire’s Brickell CitiCentre
- Jun 29, 2012
By Georgiana Mihaila, Associate Editor
The long-awaited, large-scale, mixed-use Brickell CitiCentre development is finally underway, as developer Swire Properties broke ground on the project on June 28—with the company’s chief executive Martin Cubbon hosting the ceremony. The groundbreaking ceremony was followed by a gala event attended by 300 guests, including eminent Miami government officials.
With an estimated cost of $1.05 billion, the project is considered to be the largest private sector venture of its kind in Miami history.
Located in the heart of the prestigious Brickell district in Downtown Miami, Brickell CitiCentre will embrace a luxury shopping center, two condominium residences, a hotel, a wellness center, serviced apartments and two office towers in one master-planned development. The first phase of the project, which includes all elements except for one office tower, is scheduled for completion in 2015, followed by the final office tower in 2018.
According to an official statement, the development will be well-connected to local transportation networks. In addition to providing 3,100 parking spaces, Swire Properties will redesign and enhance the Eighth Street Metromover station to integrate it into Brickell CitiCentre, and will include two overhead pedestrian crossings to facilitate easy access for visitors to the shopping center.
“This groundbreaking is a milestone event for Swire Properties,” stated Martin Cubbon. “We have spent the past 40 years developing world-class, mixed-use properties in Hong Kong and mainland China, creating places where people can live, work and enjoy life, and we are thrilled to be bringing our visionary approach to the US. Our 30 years of work on the island of Brickell Key have helped establish Brickell as a quality residential hub for Miami residents, and I have no doubt that our Brickell CitiCentre project will transform Brickell into a vibrant commercial destination.”
The developer estimates approximately $1 billion in overall economic benefits, as well as the creation of over 1,000 jobs during construction and thousands more after completion.
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