Brickell Developer Changes Plans From Condos to Apartments; Downpayments to be Released

by Isaac Benmergui, Esq on September 21, 2012

Skyline Equities Realty will return the downpayments it received for luxury condos originally slated for development as part of Miami’s Brickell District. The new developers, LNR Property LLC, of Miami Beach and LYND, of San Antonio decided to develop luxury apartments above the existing Publix market. Skyline scrapped its plans for the condos during the real estate downturn.

The new plan consists of a 35-story, 390-luxury apartment high-rise, called the EnV Brickell. Construction of the 150 one-bedroom, 210 two-bedroom and 30 three-bedroom units will begin this month with a projected completion of sometime in 2014. Rents in the area exceed $2.10 per square foot, with an area occupancy rate of 97percent. No pricing has been determined as yet. Amenities will include a one-acre recreation deck with a swimming pool, spa, gazebos and cabanas.

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