Miami Worldcenter: Plenty Of Parking, 140,000 Square Feet Of Retail Being Built

Miami Worldcenter now has about 140,000 square feet of retail, around 1,000 residences, and over 2,000 parking spaces under construction.

In 2014, Worldcenter’s developer was proposing to develop an enclosed, three-story mall that was larger than Brickell City Centre’s shopping center, with Macy’s and Bloomingdale’s as tenants. Based off those plans, the city controversially agreed to close and turn over Northeast 9th Street and Northeast 7th streets, and have the developer rebuild Northeast 8th street.

In 2016, Worldcenter announced they were scrapping the 760,000-square-foot enclosed mall, and replacing it with plans for 300,000 square feet of high street retail.

As of today 513 condo units are under construction at the Paramount condo tower. Across the street, the Caoba apartment tower is under construction with 450 units.

Thousands of parking spaces are also under construction. On Paramount’s block, an 1,100 space parking garage is being built, while a ten-story garage with 1,047 spaces is being built at Caoba.

According to a spokesperson, around 140,000 square feet of retail is now under construction across Blocks C, D and G. This includes the high street retail paseo, retail at the base of Paramount Miami Worldcenter, and a portion of the Seventh Street promenade. Eventually, the first phase will include 300,000 square feet of retail.

Miami’s retail market is among the country’s hottest, with double digit retail rent growth over last year. There are also thousands of new rental and condo units in the area around Worldcenter which will bring new residents.

 

 

An 1,100-space parking garage now sits on what was once a public road, Northeast 9th Street. It was closed to allow for a mall to be built:

paseo to be lined with retail:

caoba apartments and parking garage under construction across the street: