Miami-based Newgard Development Group, led by Harvey Hernandez, is planning to redevelop a massive 90,000-square-foot assemblage across the street from Brickell City Centre. According to the Miami Herald, the developer recently closed on the property for a staggering $50.75 million. The proposed project is named Lofty Brickell, and although it is unclear what exactly is planned for this development, we do know that it’ll may be a 35-story skyscraper oriented towards the short-term rental market. Owners will have the ease of renting out their units for vacation-length stays via online platforms such as Airbnb, Vrbo and Expedia. Arquitectonica is listed as the design architect on the official website for the property.
The development site is located at 99 Southwest 7th Street, generally bounded by South Miami Avenue, Southwest Miami Avenue Road, and Southwest 6th Street. Miami’s Underline Linear Park is located west of the property, just below the elevated Metrorail tracks. The assemblage faces the Miami River on the north, and sits diagonally across from KAR Properties One River Point site, where twin 817-foot-tall towers are expected to rise.
Official renderings are not available just yet, but the Loft Brickell website does have one particular draft rendering from Arquitectonica depicting a relatively tall tower with fine edges and wrapped in mis-aligned stacked private terraces. The roof line appears to slope partially, but it is unclear which direction the structure is facing since it is a look up render as opposed to a view from the ground floor level. The property permits the construction of a structure as high as 60 stories, however, we may potentially see only 35 stories based on available information. Details are still subject to change.
A concept for the site created in 2018 by architectural firm PALMA, led by Jo Palma, envisioned four slender mixed-use towers for the site.
Similar to the short-term rental concepts in other projects such as Legacy Hotel & Residences, Natiivo, E11ELEVEN and Yotelpad, units will be delivered fully furnished.
Sales are reportedly underway to close friends and family, with completion expected in 2024. Construction could potentially commence soon.