The Coto family, known for their involvement in the development of the Aston Martin-branded condominium in downtown Miami, has put forth a proposal for a 464-unit residential tower located in Brickell.
Led by Germán Coto, G&G Business Developments has unveiled plans for a striking 55-story structure on a spacious plot of nearly 1 acre, situated at the southeast intersection of Southwest Eighth Street and Southwest Second Avenue. This ambitious project is named “Calle 8.”
The design, crafted by BMA Architects, showcases Calle 8’s unique triangular shape, achieved by skillfully tiered levels on one side of the building, as depicted in renderings. G&G Business is currently considering two potential uses for the commercial space spanning levels one through five. One option entails a concert hall, while the other proposes a retail complex, potentially featuring a department store, as stated in their application.
Notably, the submission does not specify whether the units within the tower will be condominiums or apartments. G&G Business is actively seeking a pre-application meeting with county administrators, a common practice among developers to gather feedback from Miami-Dade staff members before officially filing their project applications.
Records indicate that an affiliate of G&G Business acquired two of the lots at 190 Southwest Eighth Street for $9.3 million back in 2014. The remaining two lots, forming the development site at 161 and 195 Southwest Ninth Street, were transferred to G&G’s affiliate for a nominal fee of $100.
The Coto family, originally hailing from Argentina, operates G&G Business from their base in Brickell. They are most notably recognized as the minds behind the Aston Martin Residences, a 66-story, 391-unit condominium tower currently in construction at 300 Biscayne Boulevard Way in Miami, occupying a prime waterfront location at the confluence of Biscayne Bay and the Miami River.
The luxury condominium market in South Florida has witnessed a surge in branded residences. PMG and its partners are in the process of developing the tri-county region’s inaugural Waldorf Astoria-branded tower, situated at 300 Biscayne Boulevard in downtown Miami. Additionally, Mast Capital has laid out plans for an 80-story Cipriani-branded condominium tower at 1420 South Miami Avenue in Brickell. The Cipriani family operates the Mr. C Miami hotel in Coconut Grove and the Cipriani Downtown Miami restaurant in Brickell, and they are set to lend their brand to the Mr. C Residences in Coconut Grove as well.
It’s worth noting that G&G’s application does not specify a brand for their Brickell tower.
Brickell, traditionally known as Miami’s financial district, has evolved into a bustling residential hub in recent times, with numerous development projects being proposed at a steady pace. Developer Ricardo Dunin, in partnership with Peruvian firm Edifica, aims to construct a 29-story, 459-unit condo-hotel at 221 and 229 Southwest 11th Street in Brickell. Additionally, LORE Development Group, a collaboration between Leste Group and the Brazilian real estate firm Opportunity Fundo de Investimento Imobiliário, has proposed an impressive 70-story, 500-unit apartment tower situated at the southeast corner of Southwest 10th Street and Southwest First Avenue.
