An 83-story $800m luxury apartment building is under construction in the Brickell district of Miami. Florida East Coast Realty is developing Panorama Tower, which will be the first project under the federal EB-5 program that grants green cards to foreign nationals that invest in commercial enterprises.
At 830 feet, the tower will be the tallest residential building on the east coast south of New York City. According to Costar, a 19-story pedestal will include over 100,000 square feet of medical office space with a teaching facility, a 2,000-car parking garage, a 208-room hotel and over 50,000 square feet of high-end retail outlets and restaurant space. Directly on top of the pedestal will be the recreation deck, above which will be the residential tower consisting of 64 stories and 821 luxury rental apartments.
Construction is scheduled to take three and half years with completion of the tower expected in 2018.
