Multi-billion dollar Miami Worldcenter development makes debut
Miami Worldcenter features 300,000 sq. ft. of retail space. (Photo credit: CIM Group)
A massive mixed-use real estate project has opened its doors in Florida’s hottest market.
Real estate investment and development firm CIM Group has announced the grand opening of Miami Worldcenter, a 27-acre, 10 block mixed-use development in the city’s downtown. The approximately $6 billion project features a mix of residential, retail, commercial, and hospitality uses developed by master developers Miami Worldcenter Associates, led by managing partners Art Falcone and Nitin Motwani, in partnership with CIM Group.
The Miami Worldcenter master plan includes approximately $100 million in completed, privately-built infrastructure, 100,000 sq. ft. of new public space, 300,000 sq. ft. of retail space, and 16 high-rise towers for residential and hospitality uses, many of which CIM Group says are completed or underway, that will bring approximately 11,000 residences and more than 1,000 hotel rooms to the property.
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Anchored by Downtown Miami’s first Apple store, Miami Worldcenter is home to a large collection of retailers, including Sephora, Lululemon, Ray-Ban, Lucid Motors, Free People, Savage X Fenty, Posman Books, HŸP Sneakers & Streetwear, The Container Store, and The Spot Barbershop. Tenants opening soon include Openbank by Santander, SkinSpirit, Blo Blow Dry Bar, Bijoux et Montres, and Club Studio.
