Banco Santander says it is proceeding with plans to build a new 1.6 million square foot tower in Brickell.
A 14-story office tower is currently on the site. Demolition will begin shortly, according to the company.
The property has already been fenced off, according to Ryan RC Rea.
There are currently 650 Santander employees working from the old tower, who will be moved to temporary space during construction.
Miami Building Department records show a master demolition permit was issued in early July, and a plumbing permit attached to the demo permit was issued on September 4.
The new tower will rise 41 stories, or 765 feet, and is being designed by Handel Architects and Bernardi & Peschard Arquitectura.
Miami’s Urban Development Review Board voted in February to recommend approval of the design.
Santander will occupy part of the new tower, with the remainder occupied by third party tenants.
