Feb 20 2007
Cabi Developers, a leading South Florida developer led by Jacobo Cababie, and the US subsidiary of GICSA, Mexico's foremost development company, is taking inspiration from two New York landmarks to build an architectural masterpiece in Brickell, Miami's prestigious financial district. Capital at Brickell, born from the shared vision of Cabi Developers and the internationally renowned architectural firm of Fullerton-Diaz, is a luxury mixed-use development comprising two towers that will soar 53 and 57 stories above the city skyline. The towers pay homage to the Chrysler and Empire State Buildings in their architectural style and urban ethos.
"Miami is playing an increasingly important role in the global marketplace," said Cababie. "The addition of developments of this size and stature will lend to the city's world-class stature. Capital at Brickell in particular will reflect the grandeur and cosmopolitan tradition of New York City skyscrapers."
The over $500 million project broke ground in November 2006, and phase one completion is expected in early 2010. When complete, the two dramatic towers will span 2.6 acres one block west of downtown's main thoroughfare and will house 834 residences boasting phenomenal bay, city and ocean views. Studios, one, two, and three-bedroom condominium residences and sky-level lofts will be joined by 127,000 square feet of Class A office condominiums and 47,000 square feet of retail space, designated for fine dining, fashionable shops and service-oriented businesses on the street level. Units are priced from the $350s to over $1 million.
Cabi Developers is also well underway with another landmark development in downtown Miami; Everglades on the Bay is a mixed-use development with 849 condominium units and 58,000 square feet of ground-floor retail. The two 49- story towers are half way to topping off. Delivery is on target for summer 2008.
"In Mexico, we have earned a reputation for high-quality, high-style development that achieves landmark status and anticipate that both Everglades and Capital, with their skyscraping heights and dramatic design, will follow that tradition," added Cababie.
Jacobo Cababie brings relevant experience to South Florida, having led the residential division of GICSA before relocating to Miami to form Cabi Developers. In Mexico, he was directly involved in the development of numerous properties from the beaches of Cancun and Cabo San Lucas to the shores of Acapulco and the suburbs of Mexico City. Since inception in 1989, GICSA has amassed a lengthy portfolio of luxury residential and commercial buildings, major retail malls and outdoor complexes, along with several modern industrial parks.
In South Florida, Cabi Developers has completed The Parc at Turnberry Isle, a 111-unit residential development and Country Club Center in Aventura, a Class-A office building.