MIAMI – The City of Miami's approval today of the new Espirito Santo landmark building moves the downtown community a step closer to joining the ranks of world-famous skylines. The building management announced today that the four-part process for the major use permit (MUSP) has been completed.
"Our building will be a gateway to Latin and International commerce off Brickell Avenue," said Bill Ross of Estoril, Inc. City officials are optimistic about its construction timetable. The $130 million building is fully financed and will open in 2002.
"We are hearing extremely positive feedback from everyone who reviews the building's design," Ross said. "Our objective from the beginning has been to create a global landmark structure that will define Miami and represent Group Espirito Santo in the United States. New York's Empire State building and World Trade Center are examples. So is Sydney's Opera House. Very few buildings in the world, by their design and purpose, symbolize a world-class destination.
"Miami is truly one of the world's leading cities, deserving of a signature architectural icon that will be recognized for its design and art for decades to come," Ross added.
Espirito Santo Plaza was designed by the New York office of Kohn Pederson Fox (KPF).
"We invited global competition from the best design firms," Ross said. "KPF's design won because it is an innovative combination of modern and traditional, with a symbolic allusion to Miami as a gateway city."
The landmark 700,000 square-foot building will contain 500,000 square feet of office space and 144 residential units, ranging from studios to three-bedroom duplexes. Alongside the building will be a 500,000 square-foot parking garage with a capacity of 1,028 vehicles. The lead tenant will be Espirito Santo Bank, which will occupy 70,000 square feet. Currently, the bank is in temporary offices at 999 Brickell Avenue.
Demolition of the building on the site will be later this year, and construction will begin February 2000.
Espirito Santo Financial Group was established in Luxembourg in 1984, though its predecessor company was established in 1975. However, the history of ESFG reaches back to 1884, when a bank, which later was to become Espirito Santo, was established in Lisbon, Portugal by José Maria Espirito Santo.
Kohn Pederson Fox was founded in 1976 and has since grown to over 300 people with offices in London and Hong Kong. KPF offers full architecture, master planning, space planning, programming and building analysis services for clients in both the public and private sectors.
