Latest Update on the Miami Worldcenter Project

April 5, 2018

The Miami Worldcenter will be a nearly 30-acre destination in the heart of downtown Miami. Miami Worldcenter is set to bring a new energy to the city of Miami with a compelling blend of exceptional retail, hospitality, and residential offerings in one unique location. The development, spearheaded by Art Falcone and Nitin Motwani, will include the Mall at the Miami Worldcenter, the 7th Street Promenade, an 1800-room Marriott Marquis Hotel and Expo Center, residential towers and the signature centerpiece, the ultra-luxurious Paramount Miami Worldcenter residential condo tower.

Construction on Paramount Miami Worldcenter began in 2015, and building completion is scheduled for 2019. Construction on the 60 story tower has already surpassed the 45th floor. The luxury condo development will rise over 700 feet in downtown Miami and will contain 513 exclusive condos, with only 12 residences per floor. The spectacular tower is receiving world-wide recognition for its mind-blowing amenities. In fact, it recently broke the record as the "most-amenitized" building in the country.

The other mixed-usebuildings within the development are in various stages of progress and completion. Some of the buildings are scheduled to break ground this year, while others are nearly finished.

129 Northeast Eighth Avenue | Construction start: 2018
Developed by Zom, the luxury rental tower will offer 434 units.

700 North Miami Avenue | Construction start: 2018
The Marriott Marquis Miami Worldcenter Hotel & Expo Center, developed by MDM Group, breaks ground this year. It will include 500,000 square feet of event and meeting space, 1,700 hotel rooms and a pool deck with views of the bay.

698 Northeast First Avenue | Completion: 2018
The 444-unit CAOBA residential tower topped off in January, and is expected to open for leasing this fall. The name is taken from the Spanish word for "mahogany." Developed by CIM Group and Falcone Group, it is one block away from Miami's new transportation hub, MiamiCentral.

110 10th Street | Construction start: 2018
The mixed-use tower is intended to serve as a gateway into the Worldcenter. Developed by Hines, the international real estate firm, it will include an office component.

Source: The Real Deal


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