Meeting Tonight In Overtown To Discuss $750M Worldcenter Marriott

Commissioner Keon Hardemon will hold a town hall in Overtown tonight to discuss a tax rebate deal for the 1,800-room Marriott Expo Center on the former Miami Arena site.

The rebates have been previously reported to be worth $75 million in present day value, to be credited over 20 years.

Among the demands listed by Hardemon is a 5 percent equity stake in the $750 million project, which would seem likely to kill the deal.

Update: A video of the meeting, courtesy of Crespogram-

 

 

 

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Anonymous
4 years ago

If they mess this up – we’ll end up with a parking lot for another 15 yrs.

Marc305
4 years ago

You are exactly correct, I hope this is not a domino effect after the mall got pulled.

Anonymous
4 years ago

Sometimes I think a parking lot might be better than the fast one some developers are trying to pull over the local pols. They’re clearly smarter.

Anonymous
4 years ago

Are the developers serious about building this or do they just want the tax credits and then pull a bait-and-switch ala the mall?

If they are serious then the tax credits should be tied to the project as proposed and to the developers. They should be non-transferable. If the developers are serious then they should not have an objection.

Procalc
4 years ago

The tax rebate request is totally a normal request that developers ask for in any city where they are building a massive project that would contribute tremendously to a specific area…specially Overtown. But the fact that this commissioner is asking for a 5% equity stake is totally new to me and sounds ridiculous

Anonymous
4 years ago

Ah, the everyone-else-is-doing-it defense.

IloveMiami
4 years ago

Is that any different than when the construction unions were demanding free wi-fi for overtown/park west from MWC? These things remind me of “riders” placed deep inside proposed bills in Congress so that our elected politicos can get funding for their pork-barrel projects. The 5% equity stake will hold the developers hostage. They will either pay up or pull out. So much for the louded renaissance of the blighted park west district. Does anybody remember the proposed Chinatown just north of the Omni? How about the recently proposed tech district with the giant billboard tower? I love my little cowtown.

Anonymous
4 years ago

Personally, I think a better use for this site is the proposed MLS Soccer stadium. Imagine the Soccer Stadium directly west of the AAA Arena, connected by an open air “Lincoln Road” style mall. Additionally, you have direct access there from the Metrorail. With 40+ NBA home games, 17 + MLS home games ,and all of the other events held at the arena and potentially at an MLS Soccer stadium, there is no reason why this area would not flourish. I know I am reaching a little, but I work directly across the street from the old arena site and I am tired of looking at dirt every time I look out my window.

Anonymous
4 years ago

They already have a site, not going to happen.

Jesus
4 years ago

The idea he laid out was excellent though. It’s kind of like the Staples Center over in Los Angeles although I’m not sure they have more than one arena but it connects the area very well and is full of people.

In the end, his idea will bring out the magic in the magic city.

Yet Another Anonymous
4 years ago

Depending on how horribly the MWC gets scaled back, I think this could be a godd idea.

Yet Another Anonymous
4 years ago

I mean as long as MWC is getting stripped bare, the mls stadium with some mixed use around it might be better.

Anonymous
4 years ago

a Lincoln Rd open style mall in that area between the 2 stadiums in that neighborgooh?
good look !!! walking at night…..

I
4 years ago

It is hard to fix decades of extreme poverty and segregation in a 2 hours meeting, not to mention that local politicians only care or visit the area when they need votes and MONEY.
As much as many hate developers, they are the only ones in town that are doing do their job; they built buildings, period… and construction brings lots of jobs.

Grimeball Hardemon
4 years ago

Interesting how I had never read or heard about this caveat regarding the 5%…

This is very selfish on this guys part. If these guys pull out because of this ridiculous demand, he should be held accountable for continuing to hold this district in its current blight. With all the demands listed on the memo, which are very Overtown-friendly, he should take a step back; “do not bite more than you can chew.”

Hope he enjoys the site of a parking lot for the next 15 years…

AndrewN
4 years ago

So much pessimism about this project and I don’t think it is necessary. Would rather wait and see than debate over possible “what if” scenarios. Patience is a virtue.

Anonymous
4 years ago

Did anyone go to the discussion?

CEC
4 years ago

IF I WERE PART OF THE DEVELOPMENT GROUP, I WOULD SUGGEST THAT MR HARDEMON BUY OUR POSITION, DEVELOP THE PROJECT AND GIVE US 5%. NOTHING LIKE A SURE UPSIDE AND NO DOWNSIDE.

Anonymous
4 years ago

isn’t this part of MWC ?

marc
4 years ago

It is not tied to MWC

Anonymous
4 years ago

Ken Hardemon meet Bernie Sanders. Something for nothin.

Anonymous
4 years ago

Those demands seem a little ridiculous but at the same time it really looks like MWC is falling apart.

Anonymous
4 years ago

MLC is falling apart. Let Genting build its convention center w/ its scaled back casino. No need for two. MLC can be built during next cycle by new developers. Sux for those that bought at paramount

Anonymous
4 years ago

It’s mwc bud