American Dream Miami, SoLe Mia, Skyrise Miami, Miami Worldcenter are among the projects
UPDATED Nov. 28, 12:35 p.m.: When Triple Five Group gained approval from Miami-Dade County commissioners earlier this year to build the largest mall in America, the news brought national interest to South Florida’s real estate market.
The project will bring an indoor ski-slope to Miami as well as other entertainment, and is betting big on retail at a time when the industry is seeing a surge in vacancies. Yet, American Dream Miami is only one of several megaprojects planned in South Florida. Among them, Turnberry Associates and LeFrak are proposing to build a $4 billion project on a former toxic landfill in North Miami; and Art Falcone, Nitin Motwani and Dan Kodsi are developing a 27-acre, mixed-use project that could transform downtown Miami.
The $4 billion Miami Worldcenter is spearheaded by Falcone, Motwani and Kodsi. The 27-acre project will include 300,000 square feet of high-street retail, an office tower, two apartment buildings and a convention hotel with 1,700 rooms and 500,000 square feet of meeting, exhibition, and convention space. The convention hotel is designed by Nichols Brosch Wurst Wolfe (NBWW). It will also include Paramount Miami Worldcenter, a 60-story, 500-plus unit luxury condo tower that recently topped off.
In October 2017, the developers secured nearly $33 million in financing from Bank OZK, formerly known as Bank of the Ozarks. And Paramount Ventures, which includes Kodsi, Falcone and Motwani, closed on $285 million in construction financing for Paramount Miami Worldcenter in March 2017.
Read the full story HERE >>> Source: The Real Deal Here are the 8 real estate megaprojects coming to SoFla