Miami Worldcenter, a $6 billion, 27-acre mixed-use development, has officially opened in Downtown Miami. Spanning from NE 2nd Avenue to Miami Avenue, the project is one of the largest private real estate developments in the United States and marks a major addition to the city’s urban core.
The site includes 12 completed buildings, with 12 more under construction or in the planning phase. Once fully built, Miami Worldcenter will include over 11,000 residential units, multiple hotels, and 400,000 square feet of retail and dining space. One of its most prominent buildings is Paramount Miami, a 60-story residential tower.
Developers Nitin Motwani and Art Falcone began assembling the land in 2003, eventually securing 28 contiguous acres over a period of several years. The area was previously occupied by warehouses and underused lots and had seen limited investment.
The development is designed to be pedestrian-friendly and integrated with public transportation, offering a centralized location for living, working, shopping, and entertainment. In addition to its residential and commercial offerings the project is a transportation hub that brings together the Brightline MiamiCentral Station, Metrorail, Metromover and the city’s bus and trolley systems. The project also creates large, shared public spaces, and will created nearly 3,000 jobs.
Among the first commercial tenants is Spain’s Santander Bank – which has launched its first U.S. location for its Openbank division – and Apple, which has opened its first downtown Miami store there.
Miami Worldcenter is intended to support the continued growth of downtown Miami, both as a residential neighborhood and a business hub. A free public block party will be held to celebrate the opening, with events continuing throughout Memorial Day weekend. The project is now open to residents, businesses, and visitors.
