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5 Blockbuster Developments

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    5 Blockbuster Developments

    The recent ranking of cities with the most new construction got us thinking about some of the biggest headline-grabbing developments currently going up--or about to break ground--across the country. Here are five $1B (or so) projects in the works from New York to Miami.

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    Domino Sugar Refinery

    Where: South side Williamsburg in Brooklyn
    The developer: Two Trees
    The price: $1.5B
    Controversy: Locals surprisingly warmed to the dramatic, skyscraping design of this mixed-use development on the East River. But Two Trees hit a major snag when it came to the affordable housing component, ultimately relenting to the de Blasio administration's demands that it raise the number of affordable units.
    The goal:Transform this stretch of post-industrial  waterfront in much the same way Two Trees made the once-barren Dumbo neighborhood a luxury residential, commercial and tech tenant destination.

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    New Atlanta Stadium

    Where: Atlanta
    The developer
    : Georgia World Congress Center Authority will own the arena and land around it. Operation falls under home NFL team the Falcons.
    The price: $1.2B
    Due date
    : Just in time for the 2017 football season.
    The design
    : Architect Bill Johnson of 360 Architecture says the striking, retractable pinwheel roof was inspired by Rome's Pantheon. The stadium will replace the indoor Georgia Dome.
    The goal
    : Bring the Super Bowl back to Atlanta for the first time since 2000. And host the local MLS team in a partitioned 29,000-person venue.

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    Brickell City Centre

    Where: Downtown Miami.
    The developer: Swire Properties Inc
    The price: $1B
    Due date: The first phase of construction should be completed in late 2015.
    The basics: The 9.1-acre mixed-use development will include a 263-room hotel, offices, two apartment towers and nearly 600K SF of retail and leisure space to be anchored by a 107K SF Saks.
    The goal: Mirror the Design District's retail success and lure more luxury shoppers to downtown Miami from Bal Harbour Shops, which once nearly monopolized the area's designer shopping.

     

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    Comcast Innovation and Technology Center

    Where: Philadelphia
    The developers: Comcast and Liberty Property Trust
    The price: $1.2B
    Due date: Early 2018
    Claim to fame: This will be the tallest American skyscraper outside of New York and Chicago.
    Controversy: Some observers objected to the nearly $43M in state grants and other subsidies rewarded to the building.

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    MGM National Harbor

    Where: In Maryland's Prince George County, just 10 miles away from Capitol Hill.
    The developer: Global casino powerhouse MGM Resorts, which owns the Aria, Bellagio and MGM Grand on the Vegas strip in addition to holdings in Macau and Hainan Island.
    The price: $925M
    Due date: Mid-2016
    The target demo: The casino will have 3,600 slot machines, but hopes to lure the flush DC lobbying crowd with 140 gaming tables and upscale restaurants.
    The goal: As gambling booms in Delaware and West Virginia, DC-area politicos and developers are looking at the MGM project to see if a 2012 referendum that loosened gambling restrictions will pay big dividends. 

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