Verzasca Group closed on the 2000 Biscayne property in early2016 where they plan to build a 649-foot residential tower. The developer has gotten FAA approval but is yet to submit plans to the city. They have begun demolition of the existing structure on the 32,775 SF property which included the City Hall restaurant. Verzasca plans to build about 450 condo units in the project in which they aim to raise the standards of Miami's skyline and residential design. They claim that "rapid growth challenges designers to explore smaller sites and non-traditional view corridors. As urban centers become the focal point of live work citizens, a new type of architecture must respond in a dynamic, holistic way creating an economically viable and user-friendly tower." The tower will further build-up the fast developing Edgewater neighborhood where residents enjoy easy access to Design District, Wynwood, Miami Beach, Downtown Miami and Brickell. The tower will be designed to enhance the neighborhood and compliment the look of nearby retail while helping to increase the area's walkability.