A joint venture has been formed to develop a new tower in Brickell, according to a press release.
Prosper Group of Miami said it was forming a partnership with Belgium’s Versluys Group for the new development.
The new tower is planned on three parcels – 99 SW 7th Street, 66 SW 6th Street, and 625 SW 1st Avenue – which Prosper Group acquired earlier this year. It has over 300 feet of direct river frontage
In 2023 (prior to the sale), plans for a roughly 730 foot tower on the site had been submitted to Miami’s UDRB by the previous owner of the property.
The new joint venture plans will include 158 residences, with delivery anticipated for 2028.
The development is said to be valued at $650 million.
(image: Prosper Group)