MIAMI – One of South Florida’s most famous addresses is getting a billion-dollar makeover.
Developers are planning to demolish the famed Mandarin Oriental hotel on Brickell Key to make way for a brand-new luxury property.
Swire Properties is planning a project called One Island Drive.
There will be an 800-foot-tall tower, which will be home to ‘The Residences at Mandarin Oriental, Miami’.
There will also be a new 400-foot-tall Mandarin Oriental hotel with more than 150 guest rooms.
According to a media release, One Island Drive will be the first residential property to be built on Brickell Key in the past 15 years.
The luxury addresses won’t be cheap. They will start at $3,500,000 when sales get underway later this year.