The Miami Worldcenter project, a massive 27-acre development in downtown Miami, has reached its halfway point with phase one completed.
The project is transforming former parking lots into hotels, retail spaces, urban spaces, and residential living. Among the completed establishments are the popular condominium Paramount Miami Worldcenter, citizenM Miami Hotel, and various restaurants and retail locations such as Sephora and Lululemon.
Phase two of the project is still awaiting start, according to Nitin Motwani, a managing partner at Miami Worldcenter Associates. Once completed, the development will feature 300,000 sq ft of retail space, over 5,000 residential units, over 600,000 sq ft of office space, 600 hotel rooms, and over 100,000 sq ft of public green space. The project, expected to cost more than $6 billion, is the second-largest mixed-use urban development in the U.S. after New York's Hudson Yards. This project is expected to be completed in 2024.
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