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On one of the last remaining water front Biscayne Bay vacant lots in the heart of the Miami Brickell Bay Drive business district, the newly proposed Villa Magna condo project will be built at 1201 Brickell Bay Drive between the current Jade and Mark condominium buildings. The twin tower condo project is expected to provide spectacular unobstructed direct water views of Biscayne Bay from the majority of the offered condominium units.
Luxury amenities and building features will include:
Spectacular water and city views;
35,000 sq feet of retail space, 10' foot ceiling; glass balconies;
luxurious bath and kitchen design finishes, high tech TV/internet wiring; designed infinity pool between the two condo towers;
A Sensational Health/Spa /fitness facility.
Available condominium units will include 2-3 bedroom 2-story townhouse units located on the lower floors with the remaining condo units to be very spacious 1,2,3 bedroom condominiums.
With pre construction units expected to go sale sometime in mid July of 2005, this is your chance to get in early on what could be an upcoming future Brickell architectural landmark.
Villa Magna Brikell Preconstruction pricing
Pricing is expected to be approximately $650 per sq ft. 1 bedroom Condo Unit Pricing is expected to start at around $585K.
1 bedrooms are expected to range from 900-1,100 total square feet.
2 bedrooms are expected to range from 1,200-1,400 sq feet.
3 bedrooms are expected to range from 1,600 - 2,000 sq feet.
2-Floor Town home Lofts are expected to range from 1,800 - 2,400 sq feet.
Developer Tibor Hollo, chairman of Florida East Coast Realty, is asking the city to amend a 1998 permit that allowed a smaller project on the 3.7 acres on Biscayne Bay. In September, he submitted an application to build Villa Magna a two 57-story towers with about 35,000 square feet of retail space, a plaza and a bay walk at 1201 Brickell Bay Drive, in Miami's financial district.
Hollo said Villa Magna design is better than the original plan. The 1998 approved project consisted of a 67-story tower parallel to Biscayne Bay, blocking the water view of nearby towers, he said, while the proposed $300 million Villa Magna would be lower and perpendicular to the water. If approved, Villa Magna would be one of Brickell's largest Pre Construction residential projects. The Related Group is planning the 1,000-unit Plaza on Brickell condominium amid the office buildings on Brickell at Brickell Way. It will have retail on the lower floors.
Nearby is the recently built 70-story Four Seasons Hotel and Tower, the tallest building south of Atlanta. The Brickell area, south of downtown Miami, for the past three years has seen an acceleration of new residential and office towers.
Advisory board, commission to vote
Villa Magna project still has to go before the Miami Planning Advisory Board and to the City Commission for final approval. Villa Magna's units will range from $400,000 to $750,000, said Hollo, who wants the units to be affordable to young professionals and other area white-collar workers. While Villa Magna will be about the same size as the original plan, the units will be smaller, said Hollo from his office on the 11th floor of an office building rising over Biscayne Boulevard, Bayfront Park and Biscayne Bay.
Villa Magna would generate about $7.3 million in tax revenues annually. It would also dump about $602 million into the local economy during construction.
The city's Affordable Housing Fund, set up to help build homes for low-income families, could cash in by about $2 million. By paying that amount, Hollo would get the additional 161,468 square feet needed to build the project as planned, according to city documents.
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