The Real Deal Miami

CitizenM pays $11M for Miami Worldcenter land

Planned 12-story, 348-key hotel announced last year is part of mixed-use, master-planned project
January 09, 2019 12:30PM

Rendering of CitizenM (Credit: iStock)

Miami Worldcenter Associates just sold the site of a planned citizenM hotel to the Dutch hotel chain for $10.75 million.

Netherlands-based citizenM plans to break ground on the 12-story, 348-room hotel this year, Ernest Lee, managing director for development and investments of citizenM, said in a statement. OSIB Miami Worldcenter Properties acquired a 15,000-square-foot development site on Northeast Second Avenue between Seventh and Eighth streets in downtown Miami, property records show.

The 128,000-square-foot hotel will feature a sun deck on the 10th floor with a swimming pool and rooftop bar, a fitness center on the 11th floor, 1,850 square feet of creative and meeting space, and a cloudM rooftop bar, according to a release. Gensler Architects is handling the design.

The first phase of the 27-acre mixed-use, master-planned project will be completed later this year and includes the 60-story Paramount Miami Worldcenter condo tower and the 444-unit Caoba apartment tower.

CitizenM also plans to open locations in Miami Beach, at 1212 Lincoln Road, and in Brickell on the site of Perricone’s Marketplace & Café at 15 Southeast 10th Street.

The $4 billion Miami Worldcenter project will also have 450,000 square feet of high street retail, a 1,100-space parking garage, a 1,700-room convention center hotel and an office tower. – Katherine Kallergis