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Are the Chinese Constructing Miami's Tallest Building in Brickell, and a Six Acre 'Beach Club' in South Beach?

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The Chinese construction firm China City Construction has allegedly hired Arquitectonica to build them Miami's tallest building at the former Capital at Brickell/Capital Brickell Place site in Brickell, according to The Next Miami. It will be a pair of towers, at least one (although perhaps both) of which will top out at 1,069 feet. They will allegedly have the ability to do this because of relaxed FAA height regulations that allow buildings to be up to 1,049 feet above sea level. Unless we're missing something here, that would require the site to be 20 feet below sea level, which it isn't, or the already-excavated subterranean levels to somehow be included in the final height.

TNM also reports that: "China City also said that they will build a beach club in South Beach. Guests of the Brickell property will be able to use the club, which China City says is just a fifteen minute drive from the Brickell project. It will be built on six acres of land that they are calling the last developable beachfront parcel in South Beach. The location of the property wasn't specified." The only piece of oceanfront land approaching that size in South Beach that doesn't already have a large multi-story building on it is the Nikki Beach property, so...
· China City Construction hires Arquitectonica [The Next Miami]
· Capital Brickell Place coverage [Curbed Miami]
· FAA Considering Raising its Downtown Height Limits [Curbed Miami]