FEATURE ARTICLE, JUNE 2007

BUILDING THE FUTURE
Brickell Financial Centre breaks ground in Miami, creating the first LEED-precertified building in the state of Florida.
Stephen O’Kane

Miami's Brickell Financial Centre is the first LEED-precertified development in the state of Florida, comprising two high-rise towers with office and retail space as well as a hotel upon completion.

In April, Miami-based Foram Group began building history with Brickell Financial Centre, the first LEED-precertified development in the state of Florida. With the prices of construction materials consistently increasing, the need for projects such as this one is rising. The initial cost of developing a LEED building might be slightly higher, but over time the energy efficient design helps the project pay for itself. Foram Group recognizes the importance of creating an environmentally friendly project, while still providing top-notch amenities to its tenants.

Foram Group purchased the property in 1990 and has been waiting for the market to ripen in order to create a high-quality office project. Brickell Financial Centre, which will be located at 680 Brickell Avenue in Miami, will be the area’s first major office project developed since 2000. It will span approximately 1.5 million square feet in two high-rise towers, making it a significant addition to the Miami skyline.

Brickell Financial Centre will be built in two phases. Phase I, which broke ground in April, is valued at approximately $245 million. As part of this phase, Foram will develop a 40-story tower offering more than 600,000 square feet of total office area, with floor plates ranging from 20,000 square feet to more than 34,000 square feet. Coupled with amenities such as retail space and a public plaza, Foram is in the process of creating a project that gives tenants, residents and visitors a friendly atmosphere and convenient location.

“The few tenants to whom Brickell Financial Centre has been fully exposed by CB Richard Ellis have recognized the significance of the efficient and sustainable design and of the superior location,” says Loretta Cockrum, founder and chief executive officer of Foram Group. “My vision has always been to create on this site a place that would be to Miami what Rockefeller Centre is to New York City. I believe we have created a master plan and design that will fulfill that vision and we are optimistic that we will begin Phase II sooner than we had expected.”

The office space will occupy the top 28 floors of the 40-story building. The ground floor of Phase I will feature a lobby as well as retail space, while the 11 floors above will house the building’s parking space. Also planned for the project is an open-air public plaza spanning 30,000 square feet, which will feature a 300-foot curving water feature. The public space fronts Brickell Avenue and is positioned in close proximity to a historic church and a public park, offering opportunities for outdoor public events. Phase I is slated for completion in fall 2009.

Phase II of Brickell Financial Centre will develop the planned second tower. Included in this phase will be 68 stories of office and retail space as well as a hotel. The 300-room hospitality component will occupy the uppermost floors of the tower, with office and retail beneath it. Dates for Phase II have yet to be announced, but planning is currently underway.

The LEED-certified Brickell Financial Centre will feature two office towers in Miami.

Brickell Financial Centre will make the best use of materials to help maintain its LEED certification. Reinforced concrete, a laminated glass curtain wall, travertine cladding and an onyx-paneled grid on the exterior façade above the plaza are among the materials being utilized by Foram and the other companies involved.

“Brickell Financial Centre is unique in its uncompromising level of quality that was conceived and designed to be a green building with the highest LEED rating possible,” Cockrum says.

Several companies are involved with the development of Brickell Financial Centre in addition to Foram Development. RTKL Associates is serving as project architect, while BVM Engineering serves as sustainable design consultants. Also helping with the development of the project is civil engineer VSN and CB Richard Ellis, which is the leasing agent.

With a quality development team and a master plan focused on creating a  people-friendly, energy efficient project, Foram Development is set to fulfill its original purpose for Brickell Financial Centre.

“The principle philosophy of Foram is to practice good stewardship as managers and developers of real estate assets,” says Cockrum. “Brickell Financial Centre offered Foram the opportunity to implement our philosophy on a world-class project.”


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