Also from what I've seen they are considering launching it as a rental tower. Rentals in the downtown area are something like 95% occupied with rental prices rising a good 10% to 20% per year. Brickell's median rent was up to $2,239/month at the end of 2011.
Quote from the developer:
Quote:
"I'm very confident" in the viability of the 1101 Brickell project, Hollo said.
"The rental market is just extraordinary," Hollo said. "Many people don't want to buy; they want to rent. So we're catering to that market."
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