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The first phase of the biggest building project in Florida history — and the second largest mixed-use development in the United States — officially broke ground last week. A 27-acre prime piece of Miami land, measuring in just one acre shy of New York's Hudson Yards property, will host a dynamic new neighbourhood of residences, offices, retail space, and hotel rooms. It's a bold venture by Miami Worldcenter Associates, a partnership led by principals Art Falcone and Nitin Motwani.
Real estate guru Daniel Kodsi is the developer behind the signature residential tower PARAMOUNT Miami Worldcenter. The first building in the complex to begin construction, the 60-storey building will be supported by 400 pilings driven 46 metres (150 feet) into the ground.
Sergio Mannarino, Peggy Fucci, and Vivian Cepero of One World Properties, the sales and marketing company behind the project, were joined by Daniel Kodsi and Director of Sales Michael Sadov in marking the official ground breaking.
The Elkus Manfredi Architects-designed structure will stand 213 metres (700 feet) tall and feature the largest amenity deck in the United States, complete with a resort-style pool, floating pods, and private bungalows. The complex also includes outdoor soccer fields — the first of their kind to be included in an American highrise residential development — plus two tennis courts, a boxing studio, and a jam room. Over 500 units will be housed in the building ranging in size from 1,180 to 2,350 square feet at an average $700 per square foot.
The project has attracted worldwide attention, with buyers from Brazil, China, Russia, Turkey and over 25 other countries purchasing 45 percent of the units so far. This worldwide appeal will be cemented by a world-class streetscape set to be defined by a 'high street' of pedestrian-oriented retail. The vibrant shopping destination will ultimately be surrounded by other residential towers, an 1,800-room Marriott Marquis and convention centre, and several entertainment and dining options.
The project is rising beside another major mixed-use development which will contain the main terminal for All Aboard Florida, a passenger rail network connecting Orlando. Miami Worldcenter, representing a $2 billion investment in the downtown core, will be a multi-year development. PARAMOUNT Miami Worldcenter however is scheduled to open its doors to its international roster of residents in 2018.
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