The Real Deal Miami

Posts Tagged ‘miami worldcenter’

  • Miami Worldcenter project to feature new condo towers

    Developers confirm residential plans during recent real estate industry event
    October 14, 2014 12:00PM
    Miami Worldcenter first phase rendering (inset: Peter Zalewski)

    Miami Worldcenter rendering (inset: Peter Zalewski)

    New condo towers will be an integral part of the overall plans for the recently approved Miami Worldcenter mixed-use complex slated to be developed on 27 acres of vacant land located west of Biscayne Boulevard in Greater Downtown Miami.

    For the first time, developers Nitin Motwani and Art Falcone publicly confirmed their decision to incorporate new condo towers into phase one of the planned $2 billion Miami Worldcenter complex during a question-and-answer session at last week’s CBRE Florida Multifamily Summit at the JW Marriott Marquis Miami hotel. [more]

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  • Rising star: Nitin Motwani on his evolution from Lauderdale kid to real estate titan

    Worldcenter principal discusses decade-long project saga, growing up in Lauderdale Beach
    October 13, 2014 09:45AM
    Nitin Motwani

    Nitin Motwani

    After a decade spent assembling land north of downtown Miami and waiting out the economic downturn, Nitin Motwani and his partners are finally moving forward with the massive Miami Worldcenter mixed-use project.

    Motwani, 35, is managing principal of Miami Worldcenter Group and managing director of Encore Housing Opportunity Fund, which is developing the Paramount Fort Lauderdale Beach condo tower. He is one of 10 South Florida real estate leaders in the 35-and-under crowd featured in The Real Deal’s latest South Florida Market Report. [more]

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  • Commissioners sign off on downtown convention hotel

    MDM can build Marriott-branded expo center on former Miami Arena site
    October 10, 2014 09:45AM
    Tony Recio

    Tony Recio

    Miami commissioners unanimously approved city zoning code exemptions that will enable the construction of a 2.2 million-square-foot convention hotel on the former site of the Miami Arena.

    Thursday’s decision allows MDM Development Group to build the 54-story, 1,800-room JW Marriott Marquis and Expo Center at Miami Worldcenter on a 4.7-acre parcel at 700 North Miami Avenue. It will be built just west of the first phase of Miami Worldcenter, developed by The Forbes Company and Taubman Centers, which will include 765,000 square feet of retail and 1,000 residential units. [more]

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  • Battle of the retail titans

    Miami's biggest projects — Brickell City Centre and Miami Worldcenter — compete for major shopping tenants
    October 09, 2014 11:15AM
    Miami Worldcenter secured anchor tenants Macy’s and Bloomingdale’s in December

    Miami Worldcenter secured anchor tenants Macy’s and Bloomingdale’s in December

    From the South Florida Market Report: One has been in the planning stages for a decade. The other is being built by an internationally known developer with massive projects under its belt. Both secured experienced teams to bring in top retail tenants. [more]

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  • Worldcenter developers get critical approvals

    Miami commissioners OK development agreement, zoning changes for massive project
    September 30, 2014 09:45AM
    Nitin Motwani

    Nitin Motwani

    Miami commissioners paved the way for Miami Worldcenter’s developers to start construction with the approval of zoning changes and a development agreement for the $1.5 billion mixed-use project.

    After a four-hour public hearing, commissioners voted 4-0 in favor of the zoning changes and development agreement with Miami Worldcenter Associates, which claims the massive project will create 35,000 direct and indirect jobs. Commissioner Wifredo Gort was absent. [more]

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  • Faena House rendering

    Faena House rendering

    “South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics.

    Pick whatever “big” cliché you like. Bigger is better…go big or go home…bigger than life…they all apply to the flurry of massive “mega-projects” that are poised to collectively redefine Miami’s downtown core, as well as its international identity. Ranging wildly from the visually artistic (Miami Beach’s Faena District) to the dazzlingly futuristic (Resorts World Miami) to the grandly comprehensive (Brickell City Centre), these behemoths will offer residents and visitors a vast array of first-rate residential, retail, dining, and lodging options once (if?) they are completed. Every day seems to bring a new morsel of news about these enormous developments, so let’s get up to speed with this month’s edition of “South Florida by the numbers.” (How’s that for a big finish?) [more]

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  • Michael Simkins makes $54M purchase near Worldcenter

    Miami Beach investor buys warehouse, three vacant parcels in Overtown area
    September 24, 2014 09:45AM
    Michael and Nicole Simkins

    Michael and Nicole Simkins

    Companies tied to Miami Beach investor Michael Simkins just made another big acquisition near the Miami Worldcenter project site, The Real Deal has learned.

    The Simkins-managed companies paid nearly $54 million for an 82,000-square-foot warehouse on more than four acres at 1151 Northwest First Avenue and three vacant parcels totaling about one-half of an acre, according to Miami-Dade County records. The all-cash transaction was recorded on Friday. [more]

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  • Miami Worldcenter breezes through initial vote

    Commissioners tentatively approve zoning change, development agreement for massive project
    September 12, 2014 09:45AM
    Nitin Motwani

    Nitin Motwani

    Miami Worldcenter cleared its second-to-last governmental hurdle on Thursday.

    Despite objections from some project critics, Miami commissioners voted unanimously to grant preliminary approval to zoning changes and an agreement that would allow the developers of the 17-acre mixed-use project to begin construction. Miami Worldcenter still has to go through one more public hearing before it gets a final green light. [more]

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  • Miami Worldcenter could have up to 25 bars without needing city approval

    Commissioners to vote on development agreement during Thursday’s meeting
    September 11, 2014 09:45AM
    Miami Worldcenter first phase rendering

    Miami Worldcenter first phase rendering

    Miami Worldcenter’s developers want to build up to 25 bars and nightclubs throughout the 17-acre project without having to seek City of Miami approvals for each one, The Real Deal has learned. [more]

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  • Miami Worldcenter in talks to swing parking deal with city

    Developers hope to from public-private partnership with the Miami Parking Authority
    August 13, 2014 03:45PM
    Miami Worlcenter

    Miami Worlcenter

    The developers of Miami Worldcenter may be nearing a deal to create a public-private partnership with the Miami Parking Authority. [more]

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