Construction Begins on $1.7B Miami Worldcenter Mixed-Use Development
MIAMI — Construction has begun on Miami Worldcenter, one of the largest urban mixed-use projects in the country, and its signature residential tower, Paramount Miami Worldcenter. This marks the start of the $1.7 billion, 27-acre development’s retail component.
“You are literally going to see six blocks being developed all at the same time. This is basically step one of multiple steps in which you are going to see six buildings going vertical,” says Daniel Kodsi, developer and CEO of Paramount Miami Worldcenter.
Miami Worldcenter will include Paramount and six other residential and office buildings, an 1,800-room Marriott Marquis and convention center, an intermodal hub and a retail and restaurant promenade.
CoastalTishman, a joint venture between Miami-based Coastal Construction and New York-based Tishman Construction, is close to completing the installation of 400 pilings that will support the glass-clad tower designed by Elkus Manfredi Architects in collaboration with Paramount Miami Worldcenter’s in-house design team. Upon completion of the pilings, CoastalTishman will start building the tower’s foundation.
The first phase of construction will focus on Paramount Miami Worldcenter, a 700-foot, 60-story residential skyscraper. The $500 million tower will feature one of the largest amenity decks in the country, spanning 90 feet above downtown Miami. The amenity deck will include the tower’s pool and a sports and entertainment complex featuring outdoor soccer fields, two tennis courts and a boxing studio.
Paramount Miami Worldcenter’s units will range in size from 1,180 to 2,350 square feet, with prices averaging $700 per square foot.
The tower will be constructed atop a portion of Miami Worldcenter’s “High Street” retail component, a pedestrian-oriented shopping streetscape that will be developed in collaboration with The Forbes Co. and Taubman.
The retail promenade will run north and south from Northeast 10th Street to Northeast 7th Street and between Northeast 1st and 2nd avenues, creating a retail focal point surrounded by residential towers, a hotel, exposition center, and numerous dining and entertainment options.
— Haisten Willis