Aetna Realty, a fully integrated New York-based real estate investment company, has unveiled conceptual renderings of a potential redevelopment of 22 East Flagler Street in Downtown Miami. The 1.65-acre property comprises two parcels situated along South Miami Avenue between East Flagler Street and Southeast 1st Street and was once home to a Macy’s and now defunct Burdines department stores. The property boasts over 500,000 square feet of commercial space with its current improvements, which are two 75-year old multistory structures connected via a sky bridge hovering over South Miami Avenue. According to Aetna Realty, the property is primed to become another one of their crown jewels with two soaring skyscrapers spanning 50 to 55 stories.
A brochure on the property listed on Loopnet states “Aetna Realty, has invested in a new vision for this exemplary project which could involve building two adjacent 50-story or 55-story towers on either side of the building. The project would be mixed-use with retail, office, hotel, and residences bringing together modern and cutting-edge design.”
Concept renders for 22 East Flagler Street. Credit: Aetna Realty.
The renderings reveal to modern towers on each parcel rising from L-shaped multistory podiums. The western tower appears to be the tallest of the two, potentially the 55-story structure mentioned above, and features a super slender profile with grids of windows on the exterior. The eastern tower looks to be the shortest but largest of the two, as the footprint of that parcel is much larger. This structure has a unique mix of fenestrations on the exterior that’s less uniform compared to the thinner tower across the street.
Below are images showing the current state of the property.
Looking north on S. Miami Avenue towards SE 1st Street. Photo from Google Maps.
Streetview of the southeast corner of S. Miami Avenue and E. Flagler Street. Photo from Google Maps.
Streetview of the southwest corner of S. Miami Avenue and E. Flagler Street. Photo from Google Maps.
Aerial view of the property. Photo from Google Maps.
An architect or engineering firm behind the design has not been announced.
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