When Emelia Arencibia moved to Brickell Key in 2016, she believed her one-bedroom condominium would be her permanent home. After the Surfside condo collapse in 2021, she faced a $47,000 assessment for upgrades and repairs to her building, which she managed through a zero-interest loan. “The financing,” Arencibia said, “saved my life, and saves a lot of people’s lives on this island.”
Now, Arencibia and other residents are concerned about another major expense: the planned replacement of the seawall surrounding Brickell Key. The project is being led by the Brickell Key Master Association (BKMA), where Swire Properties holds a controlling vote.
Brickell Key, previously known as Claughton Island, began development in 1982 and now includes 11 condominium buildings, retail spaces, and office buildings. Swire Properties first acquired a stake in the late 1970s.
According to a presentation from September 10, the estimated cost for replacing the seawall is about $42 million, with construction possibly starting in 2026. Residents of nearly 3,000 condos could pay their share as a lump sum, quarterly over three and a half years, or through a seven-year loan. Depending on unit size and payment option chosen, costs range from $3,581 to $20,319 per unit.
Some owners claim that Swire Properties’ U.S. arm is advancing the project now because it plans to replace the seawall where its new Mandarin Residences luxury condo will be built. Swire retains control of BKMA despite only holding land at that site.
The Mandarin project has surpassed $1 billion in presales this year with remaining units starting at approximately $5 million. Swire has applied to demolish the current Mandarin hotel at 500 Brickell Key Drive via implosion next year before constructing two towers with residences and hotel rooms.
Six condo associations—Brickell Key One, Brickell Key Two, Isola, St. Louis, Corvoisier Courts and Carbonell—have hired attorney Carl Goldfarb to engage with BKMA and Swire regarding both the seawall replacement and baywalk renovation projects. In a letter sent to owners in September, Goldfarb wrote that requests for face-to-face meetings have been ignored: “This work conveniently coincides with the timing of Swire’s plans for development of the Residences at the Mandarin Oriental, even though the August 6, 2024 seawall inspection report commissioned by the BKMA concluded, ‘No immediate structural repairs are required at this time.’”
The August 2024 inspection found no significant settlement or deterioration compared to previous years but noted ongoing progression since inspections began in 2014 except for repairs done in 2018.
A spokesperson for Swire stated that they have been transparent with residents by hosting more than ten town hall meetings recently. The seawall must be maintained against potential flooding events occurring once every hundred years; annual inspections are also mandated.
Some residents worry that demolition and construction related to new towers may affect an existing seawall built in 1973. A geotechnical report from early 2024 indicated vibrations from construction could impact the wall but described likely damage as cosmetic.
Swire intends to cover roughly twenty percent—or about $8.4 million—of total project costs based on its share fronting the Mandarin Residences site (1,300 linear feet). BKMA would be responsible for funding maintenance along remaining portions (4,600 linear feet). However, governing documents only require Swire to contribute around 1.8 percent; their planned contribution “exceeds its pro-rata share according to the governing documents,” according to a company spokesperson.
Owners’ payments will be calculated based on interior square footage plus half their balcony space. Payment collection is expected to begin during next year’s first quarter; financing options will be available through Banco Popular and BankUnited.
Disputes over responsibility extend beyond just the seawall project. In 2015 an amendment required Swire to dedicate and maintain public parks on Brickell Key after increasing residential density on site—a point of contention among some owners who believe they should be reimbursed for park maintenance expenses incurred over ten years instead of paying for upkeep themselves.
“Swire agreed to maintain the public park in perpetuity,” said Todd Worthe of Carbonell condos. “It’s been the residents…who have been assessed and paying for maintenance and security…If we’re going to pay for it shouldn’t it be privatized?” A company spokesperson responded that neither original nor amended agreements impose operating expenses on Swire Properties.
For St. Louis and Isola buildings—which control their own sections of seawall but remain subject to BKMA covenants—BKMA General Manager Anna Brautigam advised joining collective efforts rather than pursuing separate replacements: “Choosing to replace their seawalls separately could present several challenges…both buildings stand to benefit greatly from being part of the larger project.”
Confusion persists among residents regarding payment deadlines and individual assessments for upcoming work on infrastructure like sea walls—a situation creating uncertainty for long-term homeowners such as Arencibia: “At the end of the day I cannot pay or ask for another loan,” she said. “I feel very insecure about it.”
