MDM’s plan to build a hotel and convention center on the former Miami Arena site is being downsized and delayed.
According to the Herald, revisions to the Marriott Marquis Miami Worldcenter Hotel & Expo include:
- Groundbreaking delayed to first quarter of 2017 (MDM has already missed several previously announced start dates)
- Hotel will be built in two phases, one with 1,100 rooms and another with 600 rooms. It isn’t clear which is first (original plan was for 1,800 rooms)
- Announced value of project is $525 million, down from $750 million
- 365,000 square feet of meeting and conference space, down from 400,000 or 600,000
MDM is still negotiating with the Overtown CRA for a tax incentive deal.
new rendering:
