Massive $2B Miami Worldcenter Project to Get Underway

More than a decade after proposing the massive, mixed-use project known as Miami Worldcenter, developers will soon begin laying the foundation for a 60-story luxury condo tower in downtown's derelict Park West district.

Miami Worldcenter is a $2 billion mega-project that will soon get underway in Florida’s largest city.

The massive 30-acre development will sit within walking distance of over $3 billion in new public and private projects in mass transit, cultural institutions, recreational parks, and entertainment venues.

Next Saturday, one hundred cement trucks and more than 700 construction workers will start pouring an estimated 52 million pounds of concrete for the $400 million high-rise, called Paramount Miami Worldcenter, in a marathon 30-hour foundation pour starting at 1 a.m.

General contractor Coastal-Tishman, a joint-venture between Coastal Construction and Tishman Construction, will oversee roughly 700 workers as they spread 13,000 cubic yards of concrete.

Developer Daniel Kodsi called the milestone "a very proud moment in the evolution of the city as our tower and neighborhood fulfill its potential to become a gleaming global landmark for the city of Miami."

Once Paramount’s foundation is completed, vertical construction on the 60-story, 700-foot building can begin. The tower will be built alongside the larger Miami Worldcenter project’s 450,000 square feet of retail.

Paramount, and Miami Worldcenter as a whole, is being developed by Dan Kodsi, Nitin Motwani and Art Falcone. The project will house 513 units ranging in size from 1,180 square feet to 2,350 square feet, with prices averaging $700 per foot. So far, 50 percent of those units have been sold.

Condo owners who want to gaze at the stars will have an unusual amenity at Paramount Miami Worldcenter: a rooftop observatory. The 60-story tower will convert open space on the top floor of its SkyDeck to a glass-enclosed room with a telescope.

The 1,200-square-foot observatory will have 12-foot-high floor-to-ceiling windows with panoramic views and a skylight for star gazing.

The observatory’s telescope will be connected to a digital screen, so everyone in the room can see the sky. A glass elevator from the 56th floor lounge will lead up to the space.

The Paramount Miami Worldcenter will feature a plethora of luxury amenities, including:
•  Private elevators
•  Outdoor living rooms
•  High-tech fitness center
•  Boxing studio and aerobics space
•  Spa and salon
•  Outdoor tropical bath gardens
•  Kid’s video game room
•  Recreational lounge with
•  Billiards room
•  Resort-style swimming pool s
•  Sports complex
•  Tennis courts, soccer field and running course
•  Picnic space with barbecue areas
•  Skyview Lounge
•  Infinity spa
•  Calming yoga deck
•  Spectacular city and water views

The developers hope to finish the Paramount by 2018. And while the condominium component begins to take shape, construction will also begin on the first phase of Miami Worldcenter’s expansive retail component.

Worldcenter’s design was scaled back considerably in February as the developers sought to hedge themselves against a retail market that increasingly favors high street and online shopping.

The project shaved off roughly 300,000 square feet of shopping space, leaving the fate of Worldcenter’s planned anchors — Macy’s and Bloomingdale’s — uncertain.

Kodsi is one of several partners behind the long-planned project, which was delayed first by the Great Recession and then by debates over public subsidies. Also slated for the 27-acre site are an open-air shopping center, rental towers and a hotel.