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EPIC DUPONT TOWERS NEWS
Alvaro Santistevan - BRICKELL POST
History is about to repeat itself. In 1957, on bay front
land rich in Indian heritage, Miami's first mixed-use
building, the
Dupont Plaza, was erected, cementing itself over
everything Tequesta. Now, the development that in its
time was billed as the first “three purpose building,”
housing the International Architect’s Bureau of Building
Products, a 14-story office building and a 301-room
hotel, is coming down. One of downtown's newest
mixed-use projects, The Dupont Towers, is slated to
become the next occupant of 300 Biscayne Blvd. Way, one
of Miami’s prime pieces of real estate.
When the building on the north side of
the mouth of the Miami River implodes in clouds of gray
soot, all traces of the once classy Dupont Tarleton
Hotel will disappear. Few will mourn its passing. The
building was never architecturally significant, however
innovative it may have been in its heyday, and it has
little legendary value in the eyes of local historians.
The history came much earlier. Before the Dupont Plaza, before the
birth of the City of Miami, the land was a trading post
for Seminole Indians. Archaeologist Bob Carr has already
uncovered abundant evidence of that fact through
excavations in the parking lot next to the Dupont towers
downtown Miami —a site
that will soon become Metropolitan Miami. His collection
of Tequesta relics from the area includes pottery shards
anywhere from 500 to 2,000 years old, “all in very
disturbed condition.” Although the Dupont towers
downtown miami property is
historically significant, Carr thinks any remaining
relics will be in fragile condition.
“It was an area rich in artifacts, but
when they built the Dupont Plaza, they dug a basement,”
he explains. “What we don’t know is if any [artifacts]
survived, so we are going to be monitoring it and if we
see any evidence, we will be doing additional excavation
there.” He points out that less than half of the Dupont
towers downtown miami
parcel is on original land, the rest was filled in by
material dredged from the bottom of the bay in the early
1900s. Historian Paul George says that after the
Tequestas, the land housed two slave plantations in the
1830s, as well as the army’s Fort Dallas in the 1840s
and 50s. Additionally, three Jesuit missions once
existed just north and west of the Dupont towers
downtown miami and Miami
pioneer Julia Tuttle built her house just west of the
site in the 1890s. When the Dupont towers downtown miami went up, it was a $10
million one-of-a-kind building. Now it’s viewed as ugly
architecture. “It really personifies resort
architecture. I’ve always hated it,” said George, who
especially dislikes the fact that no space was left on
the riverfront to enjoy the view; instead, the building
hugged the river. Regardless, many Miamians fondly
recall the Dupont’s halcyon days as the place to stay in
downtown Miami.
“I would not say that it is historical,” remarks
historian Arva Moore Parks, “but when it opened it was
considered a really big deal. There weren’t a whole lot
of hotels in Miami and it was a very fancy hotel when it
was built.”
Over the years a number of businesses occupied the
office portion of the building, including the City of
Miami’s law department, labor relations department and
budget department.
Today, the building sticks out like a
sore thumb on the ever-improving face of downtown Miami.
Its demolition—which has already started inside and
should be finalized later this year will make way for
two luxury towers: a 48 story building with 632
residences, 62 hotel rooms and 869 parking spaces, and a
60 story building with 596 residential units and 621
parking spaces. The project also includes 5,000 square
feet of retail and 24,600 square feet of
restaurant/lounge space. Additionally, the development
will feature a public waterfront walkway that would
connect to the riverwalk planned for One Miami, the
project next door.
The Dupont Towers is a joint undertaking by CMC Group,
composed of Ugo Colombo (developer of the exclusive
Bristol Tower and Santa Maria, and co-developer of Porto
Vita and the Grovenor House) and Lionstone Hotels &
Resorts, headed by Alfredo Lowenstein, developers of the
Ritz Carlton on South Beach and hotel properties in the
Caribbean. With groundbreaking expected sometime next
year, talks are already underway with W Hotels, owned by
Starwood Hotel & Resorts Wolrdwide, Inc.
Two towers planned for Dupont towers downtown Miami site by Paola Iuspa-Abbott
real estate/international business
Plans to replace the run-down Dupont Plaza at the mouth
of the Miami River are taking shape.
The Miami River Commission has
endorsed a two-tower proposal comprised of 1,290
residential units. That includes a 48-story tower with
694 condominium-hotel units and a 60-story tower with
596 residential units at a site where the river meets
Biscayne Bay.
The 48-year-old Dupont Plaza building, at 300 Biscayne
Blvd. Way, would be torn town.
CMC Group, with Ugo Colombo as a principal, teamed up
with the Lionstone Group, led by Alfredo Lowenstein, to
develop the site.
The Italian-born Colombo is known for his exclusive
Bristol Tower and Santa Maria high-rises built in the
Brickell area in the 1990s. Lionstone, headed by an
Argentinean family, bought the Dupont in 2001. County
records don't show a price for the sale, but the land
was valued at about $15.8 million, property records
show.
Since the sale, the office and hotel portions of the
11-story tower have been operating. But its residential
wing was closed nearly two years ago, when Lionstone
unsuccessfully tried to convert apartments into a hotel.
While construction could begin in 14 months, demolition
of the Dupont hasn't yet been scheduled, said Bruce
Lazar, a Lionstone principal.
Riverwalk insures public access
The developer plans to build a public
waterfront walkway along its property. It would link to
the riverwalk at One Miami, a residential complex next
door, and the Hyatt Regency Miami Hotel, 400 S.E. Second
Ave.
For the past four years, the city, the commission and
several nonprofit organizations have been seriously
pushing developers to provide a riverwalk to guarantee
public access to the water. The city last year allocated about $4
million to build the riverwalk adjacent to One Miami,
said Otto Boudet-Murias, a senior advisor in economic
development at Miami's Office of the Mayor.
A pedestrian and vehicular plaza would
rest between the towers and be aligned with Southeast
Third Avenue, allowing views of the bay, said Luis
Revuelta, the project's architect and a principal with
Revuelta Vega Leon in Miami.
One Miami consists of 896 units. The planned
Metropolitan Miami across the street from the Dupont
towers downtown Miami
will have 1,347 units.
There is concern that so many units cornered against the
water would create a traffic nightmare. The city and the
state are studying the possibility of converting some of
the existing one-way roads surrounding the building into
two-way streets.
The Florida Department of Transportation this week
worked out a deal with the developers to approve an
extra lane coming off the Brickell Bridge, Revuelta
said.
For now, area developers say the proposed buildings seem
to be compatible and stay away from blocking most of one
another's views.
"The first Dupont Towers won't block our view," said Tim
Weller, president of development with MDM Group,
planning the Metropolitan. "The second tower will have
some impact. But overall, the project is a positive
thing. It is important to have a critical mass [of
units] for the success of the area." Currently, that portion of downtown
Miami is home to surface parking lots, office buildings
and hotels. But that is set to change.
"It is the Eastward-Ho movement," said Robert Parks, the
commission's chair. "We can't build west, so we build
east and have to go vertically."
Posted on Tue, Oct. 18, 2005
Epic river endeavor
BY MATTHEW HAGGMAN
For those dreaming the city of Miami would pay
millions to turn the open site of the former Dupont
Plaza into an urban riverfront park, developer Ugo
Colombo has an answer: ``It's not going to happen.''
Colombo now says he and business partner Diego
Lowenstein are ready to begin construction in January on
the first of two towers on the downtown parcel along the
Miami River.
The development, called Epic, is to include a 55-story
tower with 350 condominium units and a 450-room hotel. A
second tower, 51 floors devoted to condos, is slated for
construction in 2007, Colombo said. Ground-floor shops
and restaurants are planned for both high-rises, which
he expects will cost more than $400 million to build.
The much-anticipated project along Biscayne Boulevard
Way is considered a key piece in the transformation of
downtown Miami's core from a seedy business district
that shuts at dusk to a vibrant, 24-hour urban center.
But in recent months, some locals had hoped for
something else.
Since Colombo knocked down the Dupont Plaza to make way
for his new project -- revealing a three-acre swath of
open, downtown land with views of the mouth of the Miami
River, Brickell Key and Biscayne Bay -- some civic
activists pushed city leaders to buy the land and make
it into a park.
Some compared such a move to the Florida Department of
Transportation's $78-million purchase earlier this year
of land near the under-construction Miami Performing
Arts Center and Interstate 395. But Miami Mayor Manny
Diaz and Miami Commissioner Johnny Winton dismissed the
idea, citing a lack of funds.
DASHED HOPES
Such hopes -- while always a long shot -- now seem
dashed. ''We tried,'' said Skip Van Cel, publisher of
the Biscayne Boulevard Times, who led an effort that
included Miami Neighborhood Parks committee chairman
Steven Hagen, historian Paul George, architecture critic
and Herald columnist Beth Dunlop, and Greg Bush, a
University of Miami professor and founder of the Urban
Environment League.
The announcement by Colombo -- who is currently
finishing a Coconut Grove high-rise called The Grovenor
-- ends months of speculation about whether the project
would include an office component or a W Hotel.
It turns out he's doing neither: There will be zero
office space. And the hotel, rather than operate under a
known brand, will try to establish a new name, Epic.''We wanted our own identity, like the Hotel Danieli in
Venice or the Delano on Miami Beach,'' explained
Colombo, who is from Italy.Lowenstein, CEO of Miami Beach-based Lionstone
Development Group, couldn't be reached for comment.Also, unlike many recent South Florida hotel ventures,
Epic won't have a hotel-condo component, which involves
selling individual units to buyers who can use them or
make them available for hotel inventory.''I've never believed in hotel condos,'' said Colombo,
44, whose previous projects include the Santa Maria
condo towers on Brickell Avenue. ``It's a great system
for developers, but not a great system for buyers. And I
don't want to fool buyers.''
Colombo, who heads Miami-based CMC Group, also said he
waited to begin selling units until he nailed down
construction costs. Many developers have run into
trouble by selling units before calculating their
building costs only later to discover construction would
cost far more than originally expected.
NOVEMBER SALES
''We will start sales in November,'' Colombo said. He
predicted that many of the record number of projects in
the planning won't get out of the ground and that
quality developments will find buyers regardless of how
many units are for sale.
Colombo expressed confidence about lining up financing.
''I am not concerned,'' he said.
Plans for the construction of Epic come as an
unprecedented spate of building activity is underway in
downtown Miami's urban core and along Brickell Avenue on
the opposite side of the Miami River. OTHER PLANS
Besides the Epic, new development inside the downtown
area bordered by Southeast First Avenue, Southeast
Second Street and the water is slated to include:
• The two-tower One Miami condominium located at the
mouth of the Miami River. It is to include two
waterfront restaurants and be completed this fall by the
Related Group of Florida.
• Met One, a 40-story, 447-unit condo by Miami-based MDM
Development, is under construction with completion
targeted for 2007. By November 2007, MDM hopes to
complete Met Square, which is slated to include a
13-screen movie theater, shops and restaurants. By late
2008, the same developer hopes to complete Met 3, a
75-story condo with a Whole Foods grocery story on its
ground floor
Ugo Colombo with
Alfredo and Diego Lowenstein invite
Art Basel 36 to DOWNTOWN MIAMI LOUNGE
Ugo Colombo with Alfredo and Diego
Lowenstein are hosting DOWNTOWN MIAMI LOUNGE at Art
Basel 36, to celebrate their latest joint venture, an
ultra exclusive waterfront residential high rise located
in DOWNTOWN MIAMI-WHERE THE RIVER MEETS THE BAY at the
former site of Dupont Plaza. The Lowenstein’s of
Lionstone and Ugo Colombo of CMC Group are introducing a
new level of sophisticated urban living to DOWNTOWN
MIAMI - WHERE THE RIVER MEETS THE BAY at the former site
of Dupont Plaza. With an exceptional eye for style and
elegance, developer Colombo is the innovator of luxury
high rise residential developments in Miami. His latest
project, Grovenor House, is a high-end residential tower
located on South Bayshore Drive, overlooking Miami’s
Coconut Grove and Biscayne Bay. Standing as landmarks
along Brickell Avenue, Colombo developed Santa Maria and
Bristol Tower. Simultaneously built with Santa Maria,
was Porto Vita, an 18 acre Mediterranean-style village
in Aventura. Venturing from residential living, Colombo
built 4000 Ponce in Coral Gables, a Class A mixed-use
office and retail space which houses The Collection, his
seven-franchise luxury automotive dealership. One of today’s quintessential father
and son entrepreneurial teams, Alfredo and Diego
Lowenstein of Lionstone have been a prominent force in
the hospitality and real estate industries for more than
30 years. The company has been developing its collection
of distinctive locations such as the multi-million
dollar restoration of the Di Lido Hotel, now The
Ritz-Carlton South Beach, as well as other branded
resort properties in the Caribbean. Currently underway,
they have several new luxury mixed-use residential
developments with upscale hospitality brands in Miami
Beach and in the Caribbean. Lionstone’s entrepreneurial
spirit has led to establish a fully integrated
organization responsible for developing, owning, leasing
and managing hospitality, mixed-use and real estate
properties.
The neighborhood
trend setters: urban chic arrives in South Florida -
Neighborhoods
Latin Trade, Feb, 2004
New trends in South Florida
residential, real estate are being set by some of the
area's most outstanding and creative property
developers. "We are seeing new urbanism emerge in
South Florida with the rebirth of quality residences
within city centers and buyers' strong desire to live,
work, play and shop--all within close proximity," said
Jorge Perez, chairman and chief executive officer of The
Related Group of Florida--one of the Largest and most
innovative residential developers in the state.
Currently, the company has about 20 luxury residential
condominium projects completed and underway in South
Florida, including Icon in South Beach, The Venture and
Aventura Marina in Aventura, The Beach Club in
Hallandale Beach and One Miami in downtown Miami. "We
are building an urban fiber that will allow a better
quality of life as people spend less time commuting and
more time enjoying both their home environments and
their immediate neighborhoods," said Perez, who holds a
masters degree in urban planning from the University of
Michigan.
South Florida's real estate market is
welt positioned for the increased real estate investment
activity now prevalent because of its stability over the
past 10 to 12 years, according to Ugo Colombo, chief
executive officer of CMC Group, which has developed
several of the area's landmark properties. "Miami's
pricing has always been on target for international
buyers," he said. "You don't see the spikes that
characterize the New York market and so purchasers here
are somewhat insulated from the downturns as well." CMC
is planning residences in downtown Miami where the Miami
River merges with Biscayne Bay, plus a $100 million
condominium high-rise building in Coconut Grove.
"There is a new generation of buyers
now with different expectations," said Colombo, who also
built Brickell Avenue landmarks Bristol Tower and Santa
Maria, along with the Aventura upscale community Porto
Vita. "Having the proper services and technology within
buildings is becoming increasingly important." Also of
prime importance to current buyers is the ability to
purchase a lifestyle with their residence, said Richard
Lamondin, president of Cornerstone Premier Communities.
A veteran of Miami's property development market,
Lamondin and Cornerstone Group principals Stuart Meyers
and Jorge Lopez have begun construction on Vue
Residences & Beach Club in Ft. Lauderdale Beach. The
group is also building La Perla--a 42-story,
326-residence luxury beachfront condominium in Sunny
Isles Beach and has completely sold out The Preserve
community in Miami Shores.
One
day the real Epic, and not just a computer-rendered
representation, will replace Dupont Plaza.
According to founder Larry Samson, the
club will be for “vultures with a heart” to take
advantage of a down market.
On a Grand Scale
Miami from the Performing Arts Center
to the Brickell Bridge and beyond is shaping up as a
sophisticated, Manhattan-style city designed for urban
living. A trio of new developments – the residential
Epic and One Miami, and mixed-use Metropolitan Miami
(Met 1 and Met 3), with retail stores including a Whole
Foods Market, an Equinox sports complex and a multiplex
movie theater – are set to become the focal point of the
new Miami.
EPIC at 300 Biscayne Blvd. Way is the
newest on the scene. Two 54-story towers are planned for
the site of the former Dupont Plaza on the Riverwalk
where the Miami River meets Biscayne Bay. (There’s even
access from private yachts.) With floor plans on a Web
site and ads in the papers, brokers are ramping up for
sales in the super-luxury development on the last large
waterfront parcel in the city. Epic is being developed by CMC Group’s
Ugo Columbo (who built Santa Maria, Bristol Tower and
Grovenor House) teamed with Alfredo and Diego Lowenstein
of the Lionstone Company, developers of the Ritz
Carlton, South Beach. The architect is Luis Revuelta of
Revuelta Vega Leon P.A.
The 350 residential units in Epic’s
West Tower are the first to be offered for sale, with a
range of sizes and floor plans from 1,040 square feet to
a penthouse of 7,480 square feet. Prices average about
$650 a square foot. The Tower level starts at the 31st
to the 44th floors and rises to the Penthouse level on
the 45th to 52nd floors. The Upper Penthouse level, on
the 53rd and 54th floors high above the city, offers
remarkable views. Luxury fittings, finishes and
appliances are offered as standard, as are Glasswall
impact-resistant floor-to-ceiling windows and sliding
glass doors. State of the art in-suite technology
services for HDTV and the EPIC-link communication system
will allow residents to link their unit to the complex's
services and amenities. Two-story river-view townhomes
of two and three bedrooms will occupy the third to the
16th floor. The 16th floor will house amenities such as
a 6,600-square-foot spa, very large gym and clubrooms.
Cervera Real Estate is handling sales.
The West Tower will also feature an
Epic Hotel with 90 suites to be operated independently
of the condominiums; they will not be for sale. |
