Summary
Miami is planning to build several supertall skyscrapers, which are buildings over 984 feet tall, making it a new high-rise destination similar to New York City. The construction boom is driven by new wealthy residents, zoning changes, and growing investment interest. These projects aim to transform Miami's skyline by 2028.
Key Facts
- Miami plans to build several supertall skyscrapers, defined as over 984 feet tall.
- The Waldorf Astoria Hotel & Residences Miami, at 1,049 feet, will be completed by 2028 and become the tallest residential building on the U.S. East Coast outside New York.
- A proposed 955-foot tower on Biscayne Boulevard will include condominiums, hotel rooms, and retail space.
- Projects like Okan Tower, One Brickell City Centre, and 888 Brickell are contributing to the skyline transformation.
- Relaxed zoning laws and increased density allowances in Miami boost rapid skyscraper development.
- Challenges include Federal Aviation Administration height limits, high water table, and meeting hurricane building codes.
- Demand from wealthy investors, particularly from New York and abroad, drives the construction surge.
- Miami's new skyscrapers are selling condos at high price points, attracting significant investment interest.
