MIAMI-Developers are planning to break ground by the end of 2007 on the 69-story, 559-unit Infinity II Lofts at Brickell at 1300 South Miami Ave. The project, the second phase of the Infinity at Brickell condominium project, will include one-, two-, and three-bedroom loft residences ranging in size from ranging in size from 904 to 4,600 sf. The project will also include office condominiums ranging from 504 to 2,059 sf and ground-floor retail space. Prices for the condominium units will range from the low $500,000s to more than $2.5 million. The project is expected to be completed in late 2009.

The build is being undertaken by DYL Group, which recently acquired a majority interest in Fort Lauderdale-based Colonial Development Group, the developer of Infinity at Brickell. DYL Group is led by CEO John Yanopoulos and chairman Lawrence Duprey. Other projects being undertaken by DYL Group include the condominium project Europa-by-the-sea in Lauderdale-by-the-Sea and the W Fort Lauderdale Hotel and Residences, the first W brand hotel condominium in Florida. The architect of record on the project is Reinaldo Borges, of Borges + Associates and the interior designer is Perkins & Will.

Yanopoulos tells GlobeSt.com that a project cost has not yet been determined. He adds that timing of the groundbreaking is dependent upon the construction progress of Infinity at Brickell project. "There's a point that will be optimal to start construction of Infinity II to make the best use of construction personnel on the job," he says.

Yanopoulos adds that the project will contain more office condominiums than Infinity due to increased demand for space. "We're seeing a lot of interest in spaces that range from 800 sf to 1,000 sf," Infinity II director of sales Vanessa Moya tells GlobeSt.com.

In response to the slowing market, developers are offering special broker incentive packages. DYL will provide 50% of the broker commission at contract and 50% when the construction loan is secured, usually shortly after groundbreaking. Typically, brokers must wait to receive full commissions until after the building is completed and contracts are closed.

The first-phase 56-story, 459-unit Infinity at Brickell at 60 SW 13th St. is under construction. All of the units in the project, which is expected to be completed in June 2008, have been sold, Yanopoulos says.