Developer to Build New $6.5M Brickell Traffic Circle
Swire Properties Inc., the developer of the Brickell City Centre, is building a new $6.5 million traffic circle near it, per The Next Miami.
Swire spent $4.865 million to buy and raze a building housing Florida’s Department of Juvenile Justice to make room for the intersection, with $700,000 in funding for the intersection coming from street impact fees. Construction costs of $1.6 million are funded by other impact fees paid by Swire to build Brickell City Centre. Those funds were rebated, in a deal approved by city commissioners. The new intersection, at Southeast 6th Street and South Miami Avenue, will allow traffic to continue westbound on Southeast 6th Street.
Brickell City Centre, a mixed-use development in Miami’s financial district Brickell, was Swire’s first development in Miami. The project's first phase includes a shopping center anchored by department store Saks Fifth Avenue, two residential towers REACH and RISE, the first EAST hotel in the United States, and two mid-rise office towers called Two Brickell City Centre and Three Brickell City Centre, as well as public spaces. Phase one of the project opened in 2016. Work on phase II of the project is planned to begin in 2018.