Santander has officially started construction on 1401 Brickell by Santander, a 50-story mixed-use tower set to rise on Brickell Avenue and serve as the bank’s Miami hub. The project is slated to span roughly 1.6 million square feet and is planned to house Santander Private Banking alongside offices for third-party tenants. Bank materials say the tower will bring street-level retail and dining, wellness-focused amenities and a sky-terrace restaurant looking out over Brickell.
Design, size and timeline
In a company announcement, Santander said the building is expected to total about 1.6 million square feet, reach close to 765 feet in height and deliver a 50-story program that combines office, retail and parking, with completion targeted for 2029. Santander US added that development firm Rilea Group is coordinating the project and that the tower will incorporate updated energy, security and connectivity systems.
The architecture is being led by Handel Architects, with interiors by Bernardi & Peschard Arquitectura. The program is set to include seven levels of amenities, according to Florida YIMBY, which also reports that the formal groundbreaking took place on Thursday.
Jobs and incentives
As part of the project’s review, county records show Santander has applied for local incentives and is projecting the creation of several hundred high-paying positions. Miami-Dade County materials tied to a Targeted Jobs Incentive Fund application anticipate roughly 250 new full-time jobs with average salaries of about $115,000 a year and outline a construction schedule running through late 2029.
Santander’s own announcement also notes that the State of Florida has approved a High-Impact Sector Performance Grant valued at $6 million, tied to job creation and capital investment commitments, underscoring the bank’s view of Miami as a key U.S. base as it grows its presence. Santander US presents the groundbreaking as part of broader expansion across South Florida, while industry coverage points out that Brickell is attracting a new round of high-end office projects. Commercial Observer reports that demand for Class A space has been a relative bright spot as new buildings enter the market.
Key early steps have already been checked off. Permitting and initial site work are underway, with the city issuing site-work approvals and demolition advancing last year as the team prepared the property for foundation work, Florida YIMBY and public records indicate. The next signposts to watch are pile installation and the start of vertical construction, which will show whether the project is tracking toward its 2029 delivery goal.
If the tower is completed as planned, 1401 Brickell would rank among the largest office developments delivered in Brickell in recent years and serve as a gauge of how willing major financial employers are to make long-term commitments in Miami. Tenant announcements and updates on the rising structure are likely to follow as the site moves from groundwork to a visible addition to the neighborhood’s skyline.
