It looks like the Miami skyline will get a tall new addition after voters approved Skyrise Miami, a 1,000 foot tower to be built on land near Bayside Marketplace.
With 127 of 137 precincts reporting, voters by a 68 percent to 32 percent margin approved the construction along with a long-term lease extension to the operators of Bayside Marketplace. According to the Miami Herald, the vote also triggered a $10 million payment to Miami before construction begins.
According to the Herald, the project’s developer Jeff Berkowitz, said work will being immediately on the project and that he hopes to complete the Skyrise Tower by 2018.
The project will cost an estimated $400 million and Berkowitz told the Herald he has already started working on securing the financing, according to the Herald.