Earlier this year in January, it was announced that the Downtown Miami Macy's would be closing.
After purchasing the two buildings in 2013 for $15.55 million, Aetna Realty Group plan on building a 50 story tower and a 55 story tower, according to Miami Today.
Aetna Realty Group is debating whether to build two new buildings or renovate and build over the existing buildings. Either way, the towers would consist of retail, office, hotel and residences.
The two lots are zoned for two 80 story buildings.