Construction Launched on $1.7B Miami Worldcenter

Coastal/Tishman, a joint venture between Coastal Construction of Miami and New York-based Tishman Construction, has started development on Miami Worldcenter. Upon completion, the $1.7-billion, 27-acre project will be one of the largest mixed-use projects in the country.

The first phase of the project will be Paramount Miami Worldcenter, a 700-foot tall, 60-story residential high-rise. The $500-million condominium and apartment tower will be built on top of the Miami Worldcenter’s “High Street,” a retail component that offers a pedestrian-oriented shopping streetscape. The Forbes Co. and Taubman will be collaborating on High Street.

The retail promenade will run from Northeast 10th Street to Northeast 7th Street, and between Northeast 1st and 2nd Avenues. Other properties slated for development include six additional residential and office buildings, and an 1,800-room Marriott Marquis Hotel and convention center.