Miami Worldcenter finalized an agreement last week with Dade’s Water and Sewer Department that will bring enough utility capacity to the site for 7,780 residential units.
To date, there are only two residential towers going through the city approval process. The Paramount condo tower will have 513 units, while a rental tower is proposed with 429 apartments.
The paperwork was signed by Nitin Motwani, a vice president of the development company building Worldcenter (Motwani also has a promoted interest in the project.)
In addition to the residential units, the developers secured water and sewer capacity for 1,055,000-square-feet of retail space, along with 295,000 square feet of restaurant space.
The developers have agreed to pay a utility connection charge that is projected to be about $10.3 million. They will also be required to connect the project to water and sewer lines at several points, with construction to start within 365 days.
A map of the project site: