5 New Towers, Including An Office Building, Proposed At Miami Worldcenter
The 27-acre master-planned community is overseen by master developer Art Falcone, the CEO of Boca Raton-based Falcone Group, and Nitin Motwani, managing partner at Fort Lauderdale-based Merrimac Ventures.
The plans are split between two proposals that will be considered Wednesday by the Miami Urban Development Review Board.
The larger of the two plans adds three residential towers to the one already under construction at Miami World Towers, a development spanning nearly a full block at 10 Northeast Eighth St. and 777 North Miami Ave.
The proposal, from an affiliate of New York-based Lalezarian Properties, includes 2,040 residences and almost 3K SF of ground-floor retail, with two towers rising 695 feet, or 68 stories, and a third building reaching 280 feet.
The towers would add 2.1M SF of residential space to Block E at Miami Worldcenter. Together with the under-construction tower, the Miami World Towers would have 2,600 residences across more than 3M SF of new development.
The towers will be connected by a podium and an 810-car parking garage. The taller towers would have amenities spanning the top floor and rooftop.
Coral Gables-based Nichols Architects designed the properties, which were submitted to the development board by Bilzin Sumberg attorney Javier Aviñó. Lalezarian acquired the 1.9-acre site for $43M in 2019, Commercial Observer reported.
The second proposal, from Miami-based investment firm Abbhi Capital, includes a 33-story office tower and 59-story residential building on 2.1 acres on the north side of Miami Worldcenter at 1001 Northeast First Ave.
The properties, designed by Miami-based Arquitectonica, include 484K SF of office space and 833K SF of residential space spread across 558 units. The properties would be connected by an 11-story podium and parking garage with 1,548 spaces and 7K SF of retail space.
The 433-foot-tall office tower would include an amenities deck on the 12th floor, while the 625-foot-tall residences would have amenities spread across the 12th, 14th and 54th floors.
Miami Worldcenter is one of the largest mixed-use developments in the country. The property already hosts completed apartments, condos and a hotel. An additional 350K SF of retail has begun a phased rollout and is nearly fully leased, according to the South Florida Business Journal.