Panorama Tower

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Panorama Tower
General information
Status Under construction (base)
Type mixed-use
Architectural style Modernism
Location 1101 Brickell Avenue Miami, Florida 33131 United States
Construction started 2014[1]
Completed 2017[2]-2018[3]
Cost US$800 million[3] (preliminary estimate)
Height
Roof 822 ft (251 m)[4][A]
Technical details
Floor count 82[1]
Floor area 2,600,000 square feet (241,548 m2)[1]
Design and construction
Architect Moshe Cosicher AIA
Developer Florida East Coast Realty
Structural engineer DeSimone Consulting Engineers[5]
Main contractor Tutor Perini[2]

Panorama Tower, previously known as 1101 Brickell, is a mixed-use skyscraper under construction in the Brickell neighborhood of Miami, Florida. It was originally approved by the City of Miami and the Federal Aviation Administration in 2006 but was put on hold due to the Great Recession. The project was revived in 2012 when owner Tibor Hollo announced plans to begin construction of the tower. In 2013, the project was revised; the 822 feet (251 m) tower is stated to include residential, hotel, retail, and office space, as well as a possible observation deck at the top floor. When completed, it will most likely be the tallest building in Miami,[6] but may soon thereafter be overtaken by various other towers,[7] including two of their own projects.[8] The project is significant for being the first development in the City of Miami to be funded in part by EB-5 visas. While the entire site is technically addressed 1101 Brickell Avenue, the building will actually be located on the back of the lot, behind two existing office buildings, along Brickell Bay Drive.[9] It will be about two blocks from the Tenth Street Metromover station.[10]

History

A proposal for a tower at 1101 Brickell Avenue by developer Leviev Boymelgreen was approved by the City of Miami in 2006 and cleared by the Federal Aviation Administration (FAA) for a maximum height of 851 feet (259 m) above mean sea level (AMSL) in 2005.[11] The 849 foot (259 meter) (AMSL) building was to contain 270,000 square feet (25,000 m2) of office space, 30,000 square feet (2,800 m2) of retail as well as 650 residences.[12][13] However, the project was put on hold due to the crash of the United States housing bubble.[14][15] The site of the project was purchased by veteran Miami developer[16][17] Tibor Hollo of Florida East Coast Realty in 2009;[13] the US$33-million purchase price included the three acre site and existing office buildings,[18] built in 1964 and 1985.[12] The office buildings had very low occupancy at this time, around 30% in 2010. The building was renovated and by the end of 2012 occupancy was up to 85%.[19] In 2011, Florida International University opened a downtown campus in the building known as FIU Downtown on Brickell;[20] they also got the signage rights to the building. In addition to the renovation, a small glass and steel addition adjacent to Brickell Avenue was completed in 2014. Known as "The Cube", the 2,500-square-foot (232 m2) space uses variable-tint glass and houses a TD Bank.[21][22]

Design

In 2012, Hollo began developing plans for the project, and the name "Panorama Tower" was introduced.[23][24] The height remained the same at 849 feet (259 m), but the number of units was quoted at 724.[9] Hollo revised the plans in 2013. The FAA required the height of the structure to be lowered to 822 feet (251 m).[B] In 2013 and 2014, respectively, the developers were working to ensure the building height would not be greatly reduced under the FAA's "emergency airspace"[11] or "one-engine inoperative" policies which were proposed at that time.[25][26] At this point, the building was designed to include 821 residential units and 250 hotel units,[C] as well as approximately 83,000 sq ft (7,700 m2) of retail and approximately 39,000 sq ft (3,600 m2) of office space in the 13 story pedestal which would also include about 1500 parking spaces.[2] Moshe Cosicher, the in-house architect at Hollo's company, was announced as the new architect of the project,[18] replacing Kobi Karp.[12] In 2014, the parking pedestal, now shown as 19 stories and quoted to have 2,000 parking spaces, was reported to include 100,000 square feet (9,300 m2) of medical office space and about 50,000 square feet (4,600 m2) of retail space. The number of hotel rooms decreased to 208.[3][C] The building will be very large if built as designed, with gross floor area quoted between 2,600,000 sq ft (241,548 m2)[1] and 3,000,000 square feet (278,709 m2).[6]

Interior design is being provided by Zyscovich Architecture.[27]

Construction

Site preparation began in late 2013 with the clearing of the site and demolition of an existing parking garage, with foundation work beginning in June 2014,[1] when California-based Tutor Perini was awarded the US$255 million contract as the main contractor.[2] As of January 2015 the construction is said to be ahead of schedule.[28] The continuous concrete pour for the approximately 14,000-cubic-meter (494,405 cu ft) raft slab required hundreds of cement trucks operating for over 24 hours from numerous factories.[29] The approximately 11,000-cubic-meter (388,461 cu ft) pour took place over a weekend in late March 2015 and was one of the largest continuous pours in Florida history.[30] The project received a US$340 million construction loan from Wells Fargo in 2015, with construction well underway.[31] By October 2015, construction was up to top of the 19-story pedestal.[32]

Financing

In 2014, the building became the first development in the city of Miami to be accepted into the EB-5 visa program.[33][3] When the application was submitted in late 2012,[34] it was stated that this immigrant investment system could fund about 15% to 20% of the project.[16][35][36] However, later estimates were placed lower[37][32] despite high demand that was exceeding the limit of 10,000 visas per year (throughout the country).[38]

Notes

A. ^ a Height is often quoted as 830 feet (253 m), this is height above mean sea level (AMSL).[4]
B. ^ a The FAA individually reviews and occasionally reduces the ultimate height of structures over 200 feet (61 m) or in presumed hazard areas, such as near airports.[39] While under construction, the cranes are expected to temporarily surpass 1,000 feet (305 m).[40]
C. ^ a b The project, situated in a highly dynamic market,[41] has undergone many revisions. Additionally, online sources often conflict, use old data, or are modified from their original text. One source from 2013 quoted 128 hotel rooms.[18]

See also

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 Lua error in package.lua at line 80: module 'strict' not found.
  2. ↑ 2.0 2.1 2.2 2.3 Lua error in package.lua at line 80: module 'strict' not found.
  3. ↑ 3.0 3.1 3.2 3.3 Lua error in package.lua at line 80: module 'strict' not found.
  4. ↑ 4.0 4.1 Lua error in package.lua at line 80: module 'strict' not found.
  5. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  6. ↑ 6.0 6.1 Lua error in package.lua at line 80: module 'strict' not found.
  7. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  8. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  9. ↑ 9.0 9.1 Lua error in package.lua at line 80: module 'strict' not found.
  10. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  11. ↑ 11.0 11.1 Lua error in package.lua at line 80: module 'strict' not found.
  12. ↑ 12.0 12.1 12.2 Lua error in package.lua at line 80: module 'strict' not found.
  13. ↑ 13.0 13.1 Lua error in package.lua at line 80: module 'strict' not found.
  14. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  15. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  16. ↑ 16.0 16.1 Lua error in package.lua at line 80: module 'strict' not found.
  17. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  18. ↑ 18.0 18.1 18.2 Lua error in package.lua at line 80: module 'strict' not found.
  19. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  20. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  21. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  22. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  23. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  24. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  25. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  26. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  27. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  28. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  29. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  30. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  31. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  32. ↑ 32.0 32.1 Lua error in package.lua at line 80: module 'strict' not found.
  33. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  34. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  35. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  36. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  37. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  38. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  39. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  40. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  41. ↑ Lua error in package.lua at line 80: module 'strict' not found.

External links

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