Rome was not built in a day. Typically the more massive and complex a project is, the longer it takes even to obtain the permits from the city. Fortunately the long wait for the Miami World Center is over and reservations are now open for the first residential tower. The developers unveiled plans last Wednesday for the Paramount tower, a 470-unit, 60-story lux condo that would be embedded into the planned three-level shopping mall stretching across three and a half blocks in the old Park West district.
The project overall has certainly taken long taking into consideration that the city first approved it nearly a decade ago. The developers plan to break ground by spring of next year, with the mall opening in 2017 and the Paramount tower by Summer of 2018. Another Miami World Developer hopes to start construction by the end of the year of the expo center and convention hotel on the adjacent site of the old Miami Arena.Since Art Falcone and Nitin Motwani signed Forbes and Taubman, it’s been full throttle and the public skepticism is history now.
Kodsi, also developer of the Paramount Bay condo in Miami’s Edgewater neighborhood and the Paramount Fort Lauderdale Beach tower acknowledges that in this competitive market they need to make sure to deliver a very unique product. To give his tower an edge over its numerous competitors, residents will enjoy for instance private elevators to whisk them directly into the shopping mall, a feature no other tower can emulate.
“This is ready to go. We’re launching it and we’re ready to go into construction,’’ said Kodsi. “We’ve designed a very complex project in a short time. It’s not just renderings.”They say prices are competitive, averaging around $700 a square foot for units ranging from 1,294 square feet to 2,350 square feet — about half, they note, of prices at the planned tower by star architect Zaha Hadid a block away on Biscayne Boulevard.
The Miami World Center will revitalize even more downtown Miami and will contribute to give the city a greater sense of an actual metropolis. This more pervasive urban character of the city will for sure attract another kind of people and investors like the Chinese who prefer Urbanism.
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