Miami Developer Plans $1 Billion Towers on Last Brickell Key Lot

Swire gets set to build condos and a new Mandarin Oriental hotel, wrapping up more than 40 years of construction on the South Florida island. 

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Swire Properties Inc. is embarking on the final phase of its four-decade-long development of Miami’s Brickell Key.

The company is spending more than $1 billion to build two towers on the southernmost point of the island. The project, dubbed One Island Drive, will include an 800-foot-tall (244-meter) Mandarin Oriental-branded condo skyscraper with 222 units, including duplex penthouses. A smaller building will have a Mandarin Oriental hotel with 151 rooms, 28 hotel residences and 61 private residences.