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  #41  
Old Posted Jul 3, 2018, 8:42 PM
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I hope that it gets built.
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  #42  
Old Posted Jul 3, 2018, 10:32 PM
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This will happen. Pre-sales/reservations are going in the right direction.
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  #43  
Old Posted Jul 31, 2018, 8:27 PM
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Okan Tower Will Break Ground This Year, Regardless Of Sales


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Miami’s tallest tower will break ground this year no matter how many condo units are pre-sold, the developers have announced.

Okan Tower is planned to be built at 70 stories and 890 feet above ground, which is taller than any existing building in Miami or the state of Florida (the developer previously applied for a taller height with the FAA, but a spokesperson told The Next Miami that it will be built at 890 feet).

A sales director for developer Okan Group told the SFBJ this week that construction would begin this year regardless of how many units have been sold.

Construction will be self-financed, in contrast to other developer who must wait for 50 to 60 percent pre-sales for financing, the sales director said.

About 12 percent of units have now been sold, he added.

Okan is now finalizing the hiring of a general contractor. Completion is scheduled for the fourth quarter of 2022, due to the complex nature of construction.

=====================
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  #44  
Old Posted Sep 8, 2018, 9:06 AM
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Construction permits have been filed.
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  #45  
Old Posted Sep 11, 2018, 9:44 PM
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70-Story Okan Tower Files For Construction Permit




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Okan Tower is one step closer to beginning construction.

On September 1, contractors filed a dry run permit to begin building a 70-story tower, city records show.

Next week, a phased Class II foundation permit will be filed, along with a master building permit, a consultant working for the developer said.

The filing last week included:

500 sheets for review by city officials
$457,707.60 upfront permit fee
$163,466,625 total cost of construction
318,090 square feet of hotel, with 294 rooms on 19 floors
512,080 square feet of condo, with 398 rooms on 33 floors
66,920 square feet of office, on 4 floors
37,005 square feet of retail on 1 floor
934,095 total square feet to be built
The hotel will be known as the Hilton Bayfront.

Okan representatives previously told The Next Miami that the tower will top of at 890 feet.
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  #46  
Old Posted Sep 21, 2018, 12:49 AM
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New tallest!

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Okan Signs Utilities Deal For 70-Story Tower

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Okan Tower’s developer has signed a deal with Miami-Dade to connect with the county’s water and sewer system, as the start of construction nears.

Connection charges totaling $1,036,706 will be paid by the developer as part of the deal.

As is standard practice, the connection charge is calculated based on the number of units being connected to the utility system. The agreement states that Okan Tower will include:

2,982 square feet of retail
34,191 square feet of office
8,645 square feet of full service restaurant
300 hotel rooms
370 apartments
15,652 square feet of retail (meeting rooms)

Last week, a consultant working for the developer told The Next Miami that the developer was close to selecting a general contractor from several competing firms.

=======================
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  #47  
Old Posted Sep 22, 2018, 1:13 AM
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One step closer !

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  #48  
Old Posted Oct 9, 2018, 8:35 PM
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General Contractor Hired To Build Okan Tower, Groundbreaking Soon

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Okan Group announced today in a press release that they have selected Suffolk Construction as the general contractor for downtown Miami’s Okan Tower.

“We are thrilled to welcome the Suffolk Construction family to our robust team,” said Bekir Okan, Chairman of Okan Group. “Okan Tower will be a landmark addition to South Florida and it’s only fitting to partner with a company whose local and national reputation is impeccable, as well as one that we trust.”

Groundbreaking is expected before the end of the year, the developer said.

The $300 million tower will become the tallest residential building in Florida upon completion at 70 stories and 890 feet above ground, in a shape inspired by the tulip, Turkey’s national flower (Okan Group is based in Turkey).


Suffolk’s other nearby projects include the guitar-shaped $1.5 billion Seminole Hard Rock Hotel & Casino Hollywood tower, and Brightline’s Miami Central

“We are honored and privileged to have an opportunity to begin a long-term partnership with Okan Group,” said John Fish, Founder, Chairman and CEO of Suffolk. “This is an exciting project for our team and it will be a pleasure partnering with an organization that shares our vision for innovation and the future.”

Okan Tower will include 149 residential condominiums, 236 condo-hotel units, and a 316-key Hilton Bayfront Miami hotel, along with 64,000 square feet of Class A office space and ground floor retail.
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  #49  
Old Posted Nov 30, 2018, 4:54 AM
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OK - so what's the status with this one? Any news?
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  #50  
Old Posted Nov 30, 2018, 4:57 AM
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If the time tables are on target, this month (December) in theory should be a groundbreaking.
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  #51  
Old Posted Nov 30, 2018, 5:00 AM
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Quote:
Originally Posted by chris08876 View Post
If the time tables are on target, this month (December) in theory should be a groundbreaking.
That's fantastic. This will be an incredible addition to the Miami skyline, especially wit it being significantly taller than the next tallest.
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  #52  
Old Posted Nov 30, 2018, 3:45 PM
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Not gonna lie, this design grew on me so it's good that it'll go up. Sucks it got downscaled slightly to 890ft but hey, it's still another 800+ footer to go up. I know it'll be self-financed but are 12% of units still sold or has it gone up drastically since then? it does make sense if low since the market is highly over saturated.
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  #53  
Old Posted Feb 11, 2019, 10:30 PM
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Okan Tower Set To Move Ahead With Contract Conversions In Early Spring

Quote:
Okan Tower is taking the next step in the development process.

In an announcement on Instagram, the developer said they would begin converting reservation into contracts in early spring.

Both residential condo and condo-hotel units (to become part of the Hilton Miami Bayfront) would be converted, the announcement said. Okan Tower will include 149 condominiums, 236 condo-hotel units, and a 316-key hotel.

Records show that a permit to remove 23 trees at the property has been resubmitted three times, with the first submission September 27 and the most recent resubmission February 2. Construction permitting was initiated September 1, but does not appear to be in active review by the city as of now.

In October, the developer announced Suffolk Construction as the general contractor for the $300 million project.

The tower is proposed to rise 70 stories or 890 feet, which is taller than any other building in Miami today.
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  #54  
Old Posted Jun 5, 2019, 2:32 AM
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OKAN TOWER RELEASES FIRST INTERIOR RENDERINGS, CONSTRUCTION PLANNED THIS YEAR



Quote:
Okan Tower has released the first interior renderings of luxury condo residences that are planned as part of the 70-story project.

This is the first look at the interior. Until now, only exterior renderings have been released.

Representatives of the developer told The Next Miami that they are now moving ahead with conversion from reservations to contracts. Construction is planned to begin this year, they said.

The project is 20% sold, the developer said yesterday.
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  #55  
Old Posted Aug 19, 2019, 6:27 PM
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it's been a while since we've heard anything. is the impending recession slowing things down?
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  #56  
Old Posted Aug 20, 2019, 12:49 AM
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Quote:
Originally Posted by chris View Post
it's been a while since we've heard anything. is the impending recession slowing things down?
What impending recession ?
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  #57  
Old Posted Aug 20, 2019, 12:55 AM
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This project is over a quarter sold and continuing to sell units as of the end of Q3. It will rise unless La Palma's land slide occurs or if some Chicxulub event occurs in which good luck.

Miami is big on pre-sales. Aston Martin for example is a big success, and currently u/c, thanks to pre-sales. Likewise with past built towers such as the Porsche Tower over in Sunny Isles or Muse or Jade Signature.
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  #58  
Old Posted Sep 19, 2019, 6:10 PM
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CONSTRUCTION PERMIT FILED THIS WEEK TO BUILD 890-FOOT OKAN TOWER, WITH SUFFOLK AS CONTRACTOR

Quote:
Turkish developer Okan Group is moving forward with construction of their 70-story Okan Tower in downtown Miami, which will become the tallest in the city.

Contractor Suffolk Construction applied this week for a construction permit to begin the work, city records show. The application was filed for on September 16, with a fee of $447,944 charged by the city’s Building Department.

The project had already been sent last year for review by the Planning & Zoning Department, but no review by the Building Department has yet taken place (a construction permit filed for last year by a consultant was just a dry run).

It will likely take months for a construction permit to be issued, but contractors could also opt for another permit that allows foundation work to begin sooner if they choose to do so.

The newly filed permit estimates a hard construction cost of $159,980,000.

The permit also states there will be 316 hotel rooms, 399 residential units, 65,828 square feet of office, and 2,915 square feet of retail.

Hotel rooms and condo-hotel units will be managed by Hilton, with the property to become known as the Hilton Miami Bayfront.

Earlier this summer, the developer converted reservations of condo units into contracts, and issued broker commissions.

When completed, the tulip-shaped Okan Tower will top off at 890 feet above ground, a height that is taller than any other building in Miami.
============
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  #59  
Old Posted Sep 19, 2019, 6:30 PM
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  #60  
Old Posted Sep 20, 2019, 12:56 AM
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A worthy new tallest.
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