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Coastal Construction and AECOM Tishman Creates $2B Worldcenter, One of Miami's Biggest Mixed-Use Plans
MIAMI, FL — Both residential and commercial elements of the $2 billion Miami Worldcenter, referred to as a "city within a city," 15 years in the making, are well under construction, and the progress so far points to the possibility that this could be one of Miami's biggest projects ever, which made comparisons between the Worldcenter and New York City's Hudson Yards.
According to a Miami Worldcenter announcement, a 444-unit apartment tower on the property is nearing completion and will open at the end of this year. Construction on the luxury, mixed-use 60-story Paramount condominium high-rise is also underway, as is 140,000 square feet of an open-air retail, dining and entertainment complex. Scheduled to break ground either in 2018 or 2019 are a 1,700-room Marriott Marquis; a 434-unit luxury apartment tower; and a Hines-developed, Class AA mixed-use office high-rise. According to the Herald, the hotel rooftop will feature an electric race-car track.
Worldcenter officials said that the project has already seen the creation of 4,000 construction jobs – about 75 percent going to Miami-Dade County residents – and that at least 800 are working on the site each day. The project has also spurred approximately $100 million of infrastructure improvements in the area, all privately funded. Rail services including Brightline and Metrorail will serve the development.
The project began to make substantive progress after Worldcenter officials announced in February 2016 that the joint venture of Miami-based Coastal Construction and New York City contractor AECOM Tishman would serve as the general contractor for the development.
While comparisons to the $25 billion Hudson Yards might be a little stretched, the Hines piece of the project will include the first new downtown office tower built in the last six years, a notable milestone for Miami.
ProjectsAccording to a Miami Worldcenter announcement, a 444-unit apartment tower on the property is nearing completion and will open at the end of this year. Construction on the luxury, mixed-use 60-story Paramount condominium high-rise is also underway, as is 140,000 square feet of an open-air retail, dining and entertainment complex. Scheduled to break ground either in 2018 or 2019 are a 1,700-room Marriott Marquis; a 434-unit luxury apartment tower; and a Hines-developed, Class AA mixed-use office high-rise. According to the Herald, the hotel rooftop will feature an electric race-car track.
Worldcenter officials said that the project has already seen the creation of 4,000 construction jobs – about 75 percent going to Miami-Dade County residents – and that at least 800 are working on the site each day. The project has also spurred approximately $100 million of infrastructure improvements in the area, all privately funded. Rail services including Brightline and Metrorail will serve the development.
The project began to make substantive progress after Worldcenter officials announced in February 2016 that the joint venture of Miami-based Coastal Construction and New York City contractor AECOM Tishman would serve as the general contractor for the development.
While comparisons to the $25 billion Hudson Yards might be a little stretched, the Hines piece of the project will include the first new downtown office tower built in the last six years, a notable milestone for Miami.
