Swire is partnering with Colombian businessman Carlos Mattos to jointly develop the property at 650 South Miami Avenue, a spokesperson told The Real Deal. The developers are planning a residential project on the former Tobacco Road site.

Mattos made his money with Hyundai Colombia Automotriz, a car import and distribution company he founded in his home country. His company Isanic Trading will co-develop the 72,000-square-foot plot of land, planned to be an extension of Brickell City Centre.
Property records reveal Tobacco Road Property Holdings LLC paid a combined $15.44 million for the majority of the assemblage, nine adjacent properties at 11, 21, 31, 37, 45 and 55 Southwest Seventh Street and 622, 626 and 640 South Miami Avenue in 2012. Swire affiliate BCC Road Improvement LLC paid $4.7 million for the roughly 15,000-square-foot corner piece at 602 South Miami Avenue in 2014.
The Tobacco Road entity is controlled by attorney Richard G. Toledo with an address tied to Mattos, who owns more land a block away. The popular Tobacco Road, which was home to Miami’s oldest liquor license, closed in 2014. The River Seafood Oyster Bar is still open.
The Mattos-Swire development, on the northeast side of Brickell City Centre, would likely be built during Miami’s next condo cycle.
Swire declined to comment further on its plans, but in June, head of U.S. operations Kieran Bowers said the next phase of Brickell City Centre would likely be One Brickell City Centre, a supertall “vertically stacked equivalent” of phase one, which was completed in November 2016. The first phase, a more than $1 billion investment, included two 390-unit condo towers, a 500,000-square-foot outdoor mall, an office building and a 40-story hotel, East, Miami.

THE REAL DEAL ( SEE FULL ARTICLE )

More Real Estate News

Una brickell condo pre construction

UNA BRICKELL

OVERVIEW Designed by Adrian Smith + Gordon Gill Architecture, Una takes its inspiration from the elegant shapes and materials of ...
/ Brickell, News, Pre-Construction
david beckham

Beckham partners eye Melreese golf course for MLS stadium site

David Beckham and his partners are considering a new property for their multimillion-dollar Major League Soccer Stadium. Miami City Manager ...
/ News
Prive Aventura

Privé developers win another victory in ongoing litigation with neighbors

Miami Federal Judge Robert Scola Jr. granted summary judgment in favor of project builders Gary Cohen, Daniel Lebensohn, BH3 and ...
/ News
Miami board approves new plans for former Boulevard 57 site

Miami board approves new plans for former Boulevard 57 site

Paseo Miami, a mixed-use apartment building, is planned for 5700 Biscayne Boulevard, the site of a cancelled condo project by ...
/ News
Canadians buying in Miami

Canadian buyers loom larger in South Florida’s residential market

Canadians’ interest in South Florida vacation homes has increased as an especially cold winter continues in their home country. Record-breaking ...
/ Canada, miami rentals, News, rentals
muralplaza-tamarac-retail-restaurant-for-lease

Why savvy real estate investors are looking at mid-level malls

Certain conditions make the assets look a little more appealing. High dividends have some investors taking a second look at ...
/ air bnb, Miami, miami rentals, News, rentals
miami airbnb

Airbnb says Florida hosts generated $45.7M in tax revenue

In 2017, Airbnb collected and remitted $45.7 million in sales and local bed tax revenue to the Florida Department of ...
/ air bnb, Miami, miami rentals, News, rentals
Aurora Sunny Isles condo

Aurora Sunny Isles condo

Estimated delivery:2020 Bedrooms:  2, 3 and penthouses Square Ft. Range: 1,385 - 2,418  No. of Floors: 14 No. of Units: 61 Prices: ...
/ News, Pre-Construction, Sunny Isles Beach
coral gables office building

Coral Gables office market sizzles with new construction and low vacancy rates

In Coral Gables’ highly competitive office market, landlords are always seeking a slight edge in luring new tenants and retaining ...
/ home prices, homes, Miami, News
Loading...