When Emelia Arencibia bought her one-bedroom condo on Brickell Key in 2016, she planned to stay there for the rest of her life. That plan was challenged after the 2021 Surfside condo collapse, which led to a $47,000 assessment for repairs and upgrades in her building. Arencibia managed the cost with a zero-interest loan and said the financing “saved my life, and saves a lot of people’s lives on this island.”
Now, Arencibia and other residents are facing another major expense: a proposed $42 million replacement of the seawall that encircles the man-made island in Miami. The project is being led by the Brickell Key Master Association (BKMA), where Swire Properties holds a controlling vote.
Brickell Key, formerly known as Claughton Island, was first developed in the early 1980s. The island features 11 condominium buildings, retail spaces, and office buildings. Swire Properties acquired its initial stake in the island during the late 1970s.
According to a BKMA presentation from September 10, the seawall replacement could begin construction in 2026. Owners of nearly 3,000 condos on Brickell Key will have payment options: lump sum, quarterly payments over three and a half years, or financing through a seven-year loan. Depending on unit size and payment method, costs range from $3,581 for smaller units paid upfront to over $20,000 for larger units if financed.
Some owners argue that Swire’s U.S. division is moving forward with the project now because it also intends to replace the seawall where its new Mandarin Residences luxury development will be built. Although Swire only controls this site, it maintains majority control of BKMA.
The Mandarin Residences project has already exceeded $1 billion in presales this year, with remaining units starting at about $5 million. Swire is seeking city approval to demolish the current Mandarin hotel by implosion next year before constructing two new towers with condos and hotel rooms.
Six condominium associations have hired attorney Carl Goldfarb to represent them in discussions with BKMA and Swire about both the seawall replacement and baywalk renovations. In a letter sent in September to condo owners, Goldfarb wrote: “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 inspection report from August states that no significant settlement or new deterioration was found compared with last year but notes ongoing deterioration since inspections began in 2014 except for repairs made in 2018.
A spokesperson for Swire said the company has kept residents informed by holding more than ten town hall meetings recently. The seawall must be maintained against severe flooding risk and is subject to annual inspection requirements.
Some residents are also worried that demolishing the Mandarin hotel and building new towers could harm the existing seawall built in 1973. A geotechnical report from early 2024 noted possible impacts from construction vibrations but stated these are usually cosmetic.
Swire intends to pay about $8.4 million—roughly 20 percent of the total seawall cost—covering its property frontage. BKMA would pay for the remaining portion of about 4,600 linear feet of seawall. Under association rules dating back to its formation in 1982, Swire would otherwise owe only around 1.8 percent; it retains voting control until all Mandarin Residences units are sold.
The Swire spokesperson said their contribution “exceeds its pro-rata share according to the governing documents.”
Unit owners’ payments will be based on interior square footage plus half their balcony space. BKMA plans to begin collecting payments next year and has arranged possible financing through Banco Popular and BankUnited.
Other disputes have arisen over maintenance costs for public parks on Brickell Key. A city commission amendment in 2015 required Swire to create and maintain public parkland on the island after increasing residential unit allowances there while reducing commercial space potential. Resident Todd Worthe believes Swire should reimburse owners who have covered park maintenance costs: “Swire agreed to maintain the public park in perpetuity,” Worthe said. “It’s been the residents…paying for maintenance and security.” However, Swire’s spokesperson stated that development orders “do not impose any obligations of operating expenses” on Swire Properties.
Two buildings—St. Louis and Isola—may face different circumstances regarding their sections of seawall but remain subject to BKMA’s overall covenant; separate replacement could pose challenges according to correspondence from general manager Anna Brautigam.
Uncertainty remains among some residents over payment deadlines or amounts owed for the project; Arencibia expressed concern that ongoing costs might force her out of her home: “At the end of the day, I cannot pay the amount or ask for another loan,” she said. “I feel very insecure about it.”
