Occupying 27 acres in the heart of downtown Miami, Miami Worldcenter is one of the largest private real estate developments underway in the United States. The ten-block project will include world-class retail, hospitality and residential uses in the center of Miami’s urban core. All told, the project is expected to account for $2 billion in new investment within downtown Miami. Miami Worldcenter A
ssociates, led by Principals Art Falcone and Nitin Motwani, serves as the master developer for the mixed-use Miami Worldcenter project. In 2011, Miami Worldcenter Associates partnered with CIM Group, a Los Angeles-based real estate investment company that makes equity and debt investments in urban communities throughout North America. Together, they have assembled a best-in-class team of developers that will help bring the Miami Worldcenter vision to life. Miami Worldcenter is situated immediately to the north of the Central Business District (CBD), extending between 2nd and Miami Avenues to 11th Street. It will connect the CBD to the Arts & Entertainment District; as well as Museum Park and the bayfront to the All Aboard Florida high speed rail terminal. Miami Worldcenter is within walking distance from the Perez Art Museum Miami (PAMM) and the Patricia and Phillip Frost Museum of Science at Museum Park, the American Airlines Arena, the Adrienne Arsht Center for the Performing Arts, and All Aboard Florida. It also just minutes away from the Miami International Airport, Port Miami, Miami Beach, and the Brickell Financial District. The Mall at Miami Worldcenter will feature 765,000 square feet of best-in-class retail, destination dining and entertainment. The project will be anchored by a 120,000-square-foot Bloomingdale’s and a 195,000-square-foot Macy’s. Complementing the Mall retail experience is the 7th Street Promenade, a pedestrian-only thoroughfare that runs east-west, anchored by the American Airlines Arena and the waterfront on the east, and the exposition center and hotel to the west. Embodying the true live-work-play lifestyle, Miami Worldcenter will offer up to 1,000 residential units including a mix of luxury residences, boutique condominiums and apartments. Miami Worldcenter will be home to a new exposition center and Marriott Marquis hotel, featuring 600,000 square feet of meeting and exhibition space, as well as approximately 1,800 hotel rooms. Resort amenities will include an expansive pool deck with views of the bay, the American Airlines Arena, and the downtown Miami skyline, as well as an 80,000-square-foot outdoor event deck. Miami Worldcenter will bring an economic boost to Miami’s urban core, creating nearly 35,000 jobs – including 14,000 construction jobs and 20,000 permanent jobs. Phase One of the project is projected to yield more than $1 billion of economic impact for the Miami region, according to a study by Fishkind & Associates. Miami Worldcenter will also bring world-class events to downtown Miami for the first time in the City’s history, capturing new tourists – and their spending. All of this activity will serve as a catalyst for further economic development and investment in downtown Miami and surrounding areas. Approved plans for Miami Worldcenter will transform some of the most underutilized streets in downtown Miami, bridging the gap between the Central Business District and the Arts & Entertainment District; and between Museum Park and points west. The development will create pedestrian access/demand in areas that are currently desolate, day and night. Conveniently located next to Interstates 95 and 395, several Metromover stations, and the airport through Metrorail and an adjacent All Aboard Florida high speed rail terminal, Miami Worldcenter will be accessible through multiple modes of public transportation.