Miami Worldcenter gets city approval for first phase

Miami /
May.May 18, 2015 05:15 PM

The massive mixed-use Miami Worldcenter project is moving forward after it received approval for its first phase from the city of Miami.

Its developers said they will begin to seek building permits for the first phase, which will include the 765,000-square-foot planned shopping mall,

the 470-unit Paramount Miami Worldcenter condo tower, an 1,800-room Marriott Marquis hotel and convention center, plus a newly announced tower by Orlando-based developer ZOM with 429 luxury rental apartments.

The first phase is expected to break ground in the third quarter of 2015.

Miami Worldcenter Associates, headed by Art Falcone and Nitin Motwani, is developing the 27-acre project. Daniel Kodsi is a partner for the Paramount Miami Worldcenter, and Miami-based MDM group is developing the project’s Marriot Marquis hotel.

The project ran into legal trouble when the owners of the Grand Central Lounge filed a suit against the project, which challenged the integrity of the incentives package awarded to Miami Worldcenter that was valued to be up to $88 million over several years.

That lawsuit has been settled, though no details are yet available, according to a spokesperson for the developers. — Sean Stewart-Muniz


Related Articles

arrow_forward_ios
Merrimac Ventures co-CEOs Nitin Motwani and Dev Motwani. (Merrimac)
Motwanis’ Merrimac Ventures scores $72M construction loan for Plantation apartments
Motwanis’ Merrimac Ventures scores $72M construction loan for Plantation apartments
Miami Worldcenter Associates' Nitin Motwani, Abbhi Capital founder Sankesh Abbhi and a rendering of the site (Photos via Miami Worldcenter, Abbhi)
Miami Worldcenter developer sells 1-acre lot to Abbhi Capital, doubling its site
Miami Worldcenter developer sells 1-acre lot to Abbhi Capital, doubling its site
 Miami Worldcenter Associates developers Art Falcone and Nitin Motwani and RPC’s Dan Kodsi with a rendering of the project (Royal Palm Companies)
Dan Kodsi’s firm pays $34M for site of 50-story tower at Miami Worldcenter
Dan Kodsi’s firm pays $34M for site of 50-story tower at Miami Worldcenter
From left: Jorge Pérez, Stuart Miller, Craig Robins, Louise Sunshine, and Russell Galbut,(Credit: Patrick McMullan via Getty Images)
Here are the South Florida real estate players who donated to candidates in 2020
Here are the South Florida real estate players who donated to candidates in 2020
Mihaela Coprean and Alfonso Costa Jr.
Movers & Shakers: Falcone Group hires HUD’s former deputy chief of staff, Metropica taps biz development director & more
Movers & Shakers: Falcone Group hires HUD’s former deputy chief of staff, Metropica taps biz development director & more
Nitin Motwani, Sankesh Abbhi and 1016 Northeast Second Avenue (Google Maps)
Miami Worldcenter developer sells site to Abbhi Capital for $24M
Miami Worldcenter developer sells site to Abbhi Capital for $24M
Miami Worldcenter Managing Principal Nitin Motwani and a rendering of the project
Developer buys Miami Worldcenter site for mixed-use project
Developer buys Miami Worldcenter site for mixed-use project
Dan Kodsi and Legacy Hotel & Residences
For future pandemics, Miami Worldcenter plans $60M health center
For future pandemics, Miami Worldcenter plans $60M health center
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...