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MIAMI-Colonial Development Group has broken ground for the 56-story Infinity at Brickell condominium on an acre at 60 SW 13th St. in the heart of the financial district. Originally planned to contain 459 residential units, the design recently expanded for the addition of 47 live/work, office/residential units on the lower-level "pedestal" floors. The entire building is 81% pre-sold, Maura Landers, director of sales for Colonial Realty, an affiliate of the development company, tells GlobeSt.com, and says, "total sellout will exceed $200 million."

According to published reports, the estimated construction cost is approximately $90 million, a figure Landers declined to confirm. Completion is scheduled for spring 2007.

The tower units include a mix of lofts, flats, studios, and one-, two- and three-bedroom layouts that range in size from 488 sf to 2,734 sf. Prices for these units span the spectrum from the low $500,000s to more than $1.4 million, Landers says. The prices for units on the 40th floor and above include membership in Club Infinity, an amenity that has a members-only terrace, spa and bar and kitchen for entertaining. The live/work units range from 671 sf to full floors of 5,082 sf. Their prices begin in the low $300,000s, she says, "and we just sold a full-floor unit for $2.5 million."

Landers estimates that about 65% of the buyers are users versus investors. "The majority are local-area residents and people from New York and New Jersey," she says. "It's part of the trend to re-urbanization. These are primarily people who want to live closer to work, which this location offers."

Colonial, headed by Lawrence Duprey, chairman, and John Yanopolous, CEO, is based in Fort Lauderdale. Among its other current projects are Europa-by-the-Sea in Fort Lauderdale by the Sea and the W Fort Lauderdale Hotel and Residences.

Instant Insights /

Expanded Infinity at Brickell Breaks Ground 81% Pre-Sold

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