Miami Worldcenter’s developer completed several transactions allowing for more retail and restaurant space to begin construction, along with the 43-story Luma Tower.
MWC Retail F East LLC, a subsidiary of the developer, completed a utilities agreement with the county this week to construct a building with 45,000 square feet of restaurant and 35,000 square feet of retail.
The new retail and restaurant building will be on Block F. On the same block will be another multi-level retail building, a public square, and a 12-story CitizenM Hotel with 348 rooms (CitizenM already owns the property and is preparing to break ground).
One block south, developers Zom and Moinian Capital Partners just closed on the $19.5m purchase of the property where they will build the 43-story Luma residential tower. $119m in construction financing is in place, and a crane was seen being delivered to the site yesterday.
Luma and Block F will be joined by the Seventh Street Promenade, a pedestrian walkway lined with retail and restaurant space.