Swire Properties has broken ground on The Residences at Mandarin Oriental, Miami, formally launching construction at the long-planned Brickell Key site where the former Mandarin Oriental hotel once stood. The project is advancing toward a 2030 delivery and has already surpassed $1.7 billion in total sales across its two towers.
The ground-breaking marks a major milestone for one of Miami’s most closely watched ultra-luxury waterfront projects. The development, designed by New York architecture firm Kohn Pedersen Fox (KPF), is planned as two distinct towers on Brickell Key: a 33-story North Tower with a Mandarin Oriental hotel and residences, and a 66-story South Tower dedicated entirely to private homes.
The start of construction comes less than six months after Swire completed the controlled demolition of the old Mandarin Oriental hotel, clearing the way for the next phase of the island’s redevelopment. Sales momentum has been strongest in the South Tower, which is reported to be 80% sold, while the North Tower has reached 25% sold since sales opened there in May.
| Project Detail | Information |
|---|---|
| Project Name | The Residences at Mandarin Oriental, Miami |
| Location | Brickell Key, Miami |
| Developer | Swire Properties |
| Architect | Kohn Pedersen Fox (KPF) |
| Towers | North Tower and South Tower |
| North Tower Program | 33 stories; 121 hotel guest rooms; 70 private residences; 28 Hotel Collection residences |
| South Tower Program | 66 stories; 228 private residences |
| Expected Completion | 2030 |
| Sales Status | More than $1.7 billion sold across both towers |
Construction begins at Brickell Key’s waterfront flagship site
Swire’s groundbreaking signals the transition from site preparation to vertical construction at a property that has been central to the company’s long-term vision for Brickell Key. The island, a 44-acre enclave just east of Brickell and downtown Miami, has been a key part of Swire’s broader placemaking strategy in South Florida for decades.
The project replaces the former Mandarin Oriental hotel use with a new mixed hospitality and residential complex that is designed to keep the brand on the island while expanding the residential offering. Swire has framed the development as its largest luxury residential project to date and its first branded residential project globally.
That scale is reflected in the project’s buildout: two towers, a major amenity podium, hotel operations in the North Tower, and an extensive residential component in both buildings. The development is being positioned as a long-term addition to Miami’s luxury waterfront inventory rather than a short-term speculative launch.
Two towers, two residential offerings
The North Tower will be the lighter-rise of the two structures at 33 stories, with a hotel component anchored by what Swire describes as Mandarin Oriental’s North American flagship hotel. The tower also includes 70 private residences and 28 turnkey Hotel Collection residences, giving the building a mixed-use format that combines hospitality and homeownership.
The South Tower is planned as the project’s purely residential building, rising 66 stories with 228 private residences. Swire says the residences in the South Tower are still available from $7 million, while remaining North Tower residences begin at $4 million.
According to the developer, buyers have been drawn to the project’s waterfront location, the Mandarin Oriental name, and the scale of the design team behind it. The two crown penthouses sold earlier this year for $49.9 million each, a pair of transactions that Swire said established mainland Miami records for both condominium sale price and price per square foot, at roughly $6,300.
Design team and residential features
Swire has assembled a separate interiors team for each tower. The North Tower residences are designed by Laura Gonzalez, while the South Tower interiors are by Tristan Auer. The landscape design is by Thailand-based SHMA, which is tasked with shaping the outdoor spaces around the towers and amenity deck.
The project’s residences are planned with indoor-outdoor living in mind, using floor-to-ceiling glazing and large sliding doors to capture views of Biscayne Bay, the Atlantic Ocean and the Miami skyline. North Tower units are configured as two- to four-bedroom homes, while the South Tower residences range from two to five bedrooms.
Other published features include private elevators and entry lobbies, Italian cabinetry, stone countertops, high-end appliances and primary bathrooms with marble flooring and natural stone finishes. While these specifications are common in Miami’s ultra-luxury segment, the combination of waterfront views, branded service and private-residence layouts is part of the project’s higher-end sales pitch.
A 100,000-square-foot amenity podium
Connecting the two towers will be a 100,000-square-foot amenity podium programmed with resort-style services and residential facilities. The amenity list released by the developer includes multiple pools, cabanas, wellness spaces, dining pavilions, plunge pools, social lounges, a business lounge, library, coffee bar, sports court, game room, indoor golf simulator, screening room and children’s club.
North Tower residents will also have access to Mandarin Oriental, Miami’s spa and waterfront dining, along with residential services provided by a dedicated Mandarin Oriental team. That hospitality component is central to the project’s branding and differentiates it from many of Miami’s other high-rise condominium offerings.
In South Florida’s luxury market, branded projects have continued to attract buyers seeking service, privacy and turnkey ownership structures. The Residences at Mandarin Oriental, Miami extends that trend into a project that combines a full hotel program with a large residential component on one of Miami’s most limited waterfront sites.
Sales momentum and market context
Swire says the project has generated more than $620 million in sales in 2026 alone, including more than $150 million in new sales during the summer. The company also reported that the North Tower has sold 25% of its inventory since the Signature Gallery opened in May, while the South Tower is now 80% sold.
Those results suggest continued demand for top-tier waterfront condominiums in Miami, even as the broader market has become more price-sensitive at the upper end. Brickell Key remains a relatively restricted submarket because of its island setting and limited developable land, which can support premium pricing when projects are viewed as scarce inventory rather than just another tower launch.
Swire’s long-term presence on Brickell Key also matters. The company has been associated with the island’s evolution for years, and this project extends that legacy with a denser, more amenity-rich plan built around the Mandarin Oriental brand. For Miami’s luxury condo market, the project adds another large-scale branded option at a time when several high-profile waterfront developments are competing for buyers.
Why the project matters for Brickell and Miami luxury real estate
The Residences at Mandarin Oriental, Miami is significant not just because of its sales volume, but because of what it replaces. The site once held a hotel that was a familiar part of the Brickell Key skyline; it is now being transformed into a mixed hospitality and residential destination with a much larger residential footprint.
That shift reflects a broader pattern in South Florida development, where older hospitality assets on prime waterfront land are being reimagined for a market that continues to favor ultra-luxury condominium product. In this case, the project also underscores the ongoing appeal of branded residences in Miami, where global hotel names are increasingly tied to high-end residential launches.
With construction underway and completion still several years away, the development now moves into a new stage that will determine how quickly Swire can convert the project’s early momentum into future closings. For now, the groundbreaking confirms that one of Brickell Key’s most visible redevelopment plans has entered active construction.
