June 16, 2016
The four UDRB members were in favor and seconded the motion to approve M Tower in Downtown Miami. The 637,000 square foot mixed-use project was designed by Zyscovich Architects and is to be built on a 16,718-square foot lot at 56 Southwest First Street, that now still works as surface parking operated by the MPA.
A partnership by Jorge Brugo of Axis Realty Trust and Ian Ludmir of Forse Holdings plans to development a 600-foot high tower, with 440-apartment tower with 25,000 square feet of shared office space, and 900 square feet of retail, targeted to millennial. Brugo told The Real Deal that the apartments will be leased at market rate.