Lalezarian Properties Plans 2K Rentals at Miami Worldcenter

Lalezarian Properties wants to expand its planned development at Miami Worldcenter by adding three apartment towers with a combined 2,040 units. 

The New York-based family-owned firm proposes 68-story and 31-story towers, which would rise out of the same podium, with 1,020 apartments; as well as a 67-story tower with another 1,020 units, at 10 and 20 Northeast Eighth Street and 777 North Miami Avenue, according to filings to the city. Designed by Nichols Architects, the project would include 2,700 square feet of commercial space and an 800-space garage. 

The Miami Urban Development Review Board is expected to vote on the proposal at a meeting on Wednesday. 

Lalezarian’s proposal marks the second and third phases of its Miami World Towers Project. On a portion of its Miami Worldcenter site, at Northwest Eighth Street between North Miami and Northeast First avenues, Lalezarian is developing its first tower that’s slated for 52 stories with 550 units. 

Last year, the firm scored a $150 million construction loan from the Bank of New York Mellon for the project. 

The latest Miami World Towers proposal marks continued additions to the 27-acre Miami Worldcenter mixed-use development. The complex’s master developers are Art Falcone and Nitin Motwani, in partnership with CIM Group, though they have sold off development sites to other firms. 

Completed portions of Miami Worldcenter include the Paramount condo tower, the Caoba and Bezel apartment towers, and an 80,000-square-foot Jewel Box retail building. The 50-story Legacy Hotel & Residences with 310 condos atop a 219-key hotel; and the 33-story, 450-unit The Crosby condo tower are among projects under construction. 

Other planned additions at Miami Worldcenter include Abbhi Capital’s proposal for a 33-story office building and a 59-story, 558-unit apartment tower with a hotel. The city’s review board also is expected to take up this project on Wednesday.