CIM Group announced that Miami Worldcenter, a 27-acre, 10-block mixed-use development, is now officially open for business. The $6 billion Miami Worldcenter project features a mix of residential, retail, commercial and hospitality uses developed by master developers Miami Worldcenter Associates, led by Managing Partners Art Falcone and Nitin Motwani, in partnership with CIM Group.
Located West of Biscayne Boulevard and East of I-95, the Miami Worldcenter master plan includes $100 million in completed, privately built infrastructure, 100,000 square feet of new public space, 300,000 square feet of retail and 16 high-rise towers for residential and hospitality uses, many of which are completed or underway. The development will bring approximately 11,000 residences and more than 1,000 hotel rooms.
The retail options include Downtown Miami’s first Apple store, Sephora, Lululemon, Ray-Ban and Lucid Motors.
The development has created 9,000 jobs, and the indirect benefits spurred by the construction have further created jobs and revenue opportunities for local businesses.
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