Villa Magna Brickell

Villa Magna will be built in the last vacant Biscayne Bayfront lot overlooking the ocean in the heart of Brickell, Miami's Financial District. The convenient location is situated amid 12 street and Brickell Bay Drive, between the Jade and the Mark. Vistas International Realty, who has successfully sold projects such as The Club at Brickell Bay and Opera Tower in Biscayne Bay, will be in charge of sales for this project.

Villa Magna will consist of two 51 and 52 -story towers with a total of 780 units. Both towers will enjoy magnificent views of the ocean and the city. The prices win range from an estimated $500,000's to over $2 million, with an estimated average in price per sq. ft. of $600.00

It will be a luxurious construction with an infinity pool in between the two towers; a high tech gym and other amenities. Units will feature marble floors in the kitchen and bathrooms, top of the line kitchens appliances and cabinetry, and will be released decorator ready.

By September 2005 the project is expected to start sales. A first deposit of 12.5% will be required with contract. And a remainder of 12.5% will be due approximately six months from the signing date. (Totaling 25% down)

• Swimming pools
• whirlpoolspas
• landscaped recreation deck
• fitness center
• restaurants
• bay walk
parking garage
• 24-hour security.

Developer Tibor Hollo, chairman of Florida East Coast Realty, is asking the city to amend a 1998 permit that allowed a smaller project on the 3.7 acres on Biscayne Bay. In September, he submitted an application to build Villa Magna a two 57-story towers with about 35,000 square feet of retail space, a plaza and a bay walk at 1201 Brickell Bay Drive, in Miami's financial district.

Hollo said Villa Magna design is better than the original plan. The 1998 approved project consisted of a 67-story tower parallel to Biscayne Bay, blocking the water view of nearby towers, he said, while the proposed $300 million Villa Magna would be lower and perpendicular to the water. If approved, Villa Magna would be one of Brickell's largest Pre Construction residential projects. The Related Group is planning the 1,000-unit Plaza on Brickell condominium amid the office buildings on Brickell at Brickell Way. It will have retail on the lower floors.

Nearby is the recently built 70-story Four Seasons Hotel and Tower, the tallest building south of Atlanta. The Brickell area, south of downtown Miami, for the past three years has seen an acceleration of new residential and office towers.

Advisory board, commission to vote Villa Magna project still has to go before the Miami Planning Advisory Board and to the City Commission for final approval. Villa Magna's units will range from $500,000 to $2 million said Hollo, who wants the units to be affordable to young professionals and other area white-collar workers. While Villa Magna will be about the same size as the original plan, the units will be smaller, said Hollo from his office on the 11th floor of an office building rising over Biscayne Boulevard, Bayfront Park and Biscayne Bay.

Villa Magna would generate about $7.3 million in tax revenues annually. It would also add $602 million to the local economy during construction.