The development team and its lawyer wouldn't disclose further details which GlobeSt.com learned independently commission meeting records and the project's building permit application. Construction industry estimators familiar with comparable projects tell GlobeSt.com the hard cost on the building alone will be at least $50 million.

Besides the residential component, the development team sought permission to build 30,521 sf of office space, 23,461 sf of retail and 843 parking units. The 1.8-acre site is at 30 SW 12th St., along the 1200 block of South Miami Avenue.

Locally based property owner Alamagan Corp. filed a joint application to develop the site under contract with BAP, an affiliate of the Miami-based engineering-architectural firm, Bermello Ajamil & Partners. The city's Planning Advisory Board unanimously recommended the City Commission approve the project with modifications, according to city records examined by GlobeSt.com.

Records show that Alamagan, a Florida corporation controlled by Stephen A. Freedman, has owned the mostly undeveloped site since 1988. The county last assessed the property at $4 million.

The property owner contracted with BAP, which has worked on projects such as the Homestead Motorsport Complex, the Maritime Park and the Terremark Centre. In the mid-90s, Bermello Ajamil & Partners were ranked on the Inc. magazine list of the 500 fastest-growing companies in the United States.

In addition to the proposed Brickell View project, BAP and its principals--Luis Ajamil, Willy A. Bermello and Henry Pino--broke ground last summer on a $51-million joint venture in the 1000 block of South Miami Avenue with Summit Properties. The mixed-used residential community contains 400 apartments and about 20,000 sf of retail space.

County property records show that Ajamil, Bermello and Henry Pino, as partners in Brickell Grand Inc., acquired a 2.18-acre site and several other neighboring lots last spring for roughly $6.5 million in the 1000 block of South Miami Avenue from several owners, including KAI Properties, 1000 Brickell Ltd. and Sicame Inc.

Adrienne F. Pardo, an attorney with Miami-based Greenburg Traurig, represented BAP and Allamagan.

Instant Insights /

BAP and Alamagan Plan 600-Unit, Multifamily Twin Towers Near Financial District

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