Worldcenter Negotiating To Sell Retail Site For $25M, Adding 200-Room Hotel To First Phase

Part of Miami Worldcenter’s Tract A (which is partially under construction) is in negotiations to be sold off to a retail developer, according to newly released bond documents .

The sale would include 1.4 acres at a price of about $25m. Approximately 500,000 square feet of retail and commercial is expected to be built on that site.

On a separate parcel, MWC Holdings is developing 350,000 square feet of retail, which Taubman and The Forbes Company have an option to purchase. Construction will begin by the end of the first calendar quarter of 2017.

Tract A is now also expected to include a 200-room hotel. MWC Holdings intends to develop a boutique hotel, “likely with a development partner,” the documents state.

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marc
3 years ago

So it’d be part of the Paramount superblock.

Anonymous
3 years ago

The retail here will be significantly larger than that at City Centre. It’ll be very interesting to see how they fare against one another (though they’ll be targeting different markets)

Edin
3 years ago

BCC is a boutique mall,to small for Miami future needs.MWC,with its retail part,is excatelly what Miami downtown needs.Hoping they will spare one of these parcels for the first Miami square, ( I would called it personally FREEDOM SQUARE),where people can gather before sports and other events in Miami downtown.Just dreaming about Miami becoming world class city.

GMX
3 years ago

Love your idea!!!

Anonymous
3 years ago

The difference is that the city centre is extremely dense. The likelyhood of people walking/ commuting to the city centre ( like myself) and walking/ commuting to the world center is night and day. I like both projects, buts its clear to see that the city centre is a superior project in terms of management, delivery, scale and future projections. There is a reason world center has been flip flopping on their retail component. They are positioned in an awkward space between the city centre, midtown, bayside ( undergoing renovation) and design district. All projects that are expanding and adding retailers on a weekly basis. The question is…who would want to open up retail there with so many options in other places :/

marc
3 years ago

Future projections are way more favorable for MWC. It has everything around it, entrance and egress, sports arena, a couple parks, an amphitheater, museums, rail in and out via Metrorail, Tri Rail, Metromover, or Brightline as well as a college. The area of MWC is just a better location for everyone not just Brickellites.

Anonymous
3 years ago

You are missing the main point. Who will sign on that is not already at the BCC, midtown, design or bayside? It doesn’t make any sense. If the BCC was not built then maybe you might have a point. But the future projections on a project thats 3-4 years out and losing ground on the competition isn’t good.

marc
3 years ago

On the contrary. The more time that passes and a place becomes commonplace the new thing becomes more interesting. Besides, as stated by many already MWC will be more accessible to the common person which there are more of than those that are looking to shop at a Saks or dine at an Italian Food Hall or stay at a lux hotel like East.

Anonymous
3 years ago

Still have not answered his question which I’m kinda curious as well. Who will sign if everything is already taken up by the other malls

marc
3 years ago

I’ve no clue but the only “Mall” in its close proximity is BCC and BCC does not have every tenant possible nor is its space finite. Whatever doesn’t go there can go just north. The next closest mall type retail space for vendors are Sunset Place and Aventura.

Anonymous
3 years ago

That like how everyone said sunset place, due to its accessibility to UM, would outclass dadeland for business…Yea still can’t find a steady anchor tenant for that mall. I agree with BCC guy, sometimes timing kills momentum, no matter how good your location might be.

Anonymous
3 years ago

Hahah so true

Anonymous
3 years ago

Every tenant at the Design District signed knowing it would take at least a decade to make money, if they make money at all. Stores operate at a loss on 5th Ave & Madison because they look at it as a promotional market.

Point being that stores look to the future (though who knows how well considering the fall of brick & mortar, but I digress) and consider a lot of factors. But I’m sure you know much more and can predict every move.

Anonymous
3 years ago

Also everything you just mentioned is also apart of the city centre and bayside, so it has no advantage via public transport. The only thing “closer” to the the worldcentre would be the arena and arsh. I could easily rebutle with Mary brickell village, the grove, southside park, northside park, museums just over the bridge and the SAME public transportation ( bright line, metro rail, metro mover). Also miami dade college is closer to the city centre, along with FIU international on brickell ave and strayer university.

marc
3 years ago

Common man you have to agree that the MWC location is just better in every way for everyone other than those that already live south of the Miami River.

suomynona
3 years ago

How in the heck is MDC closer to BCC than MWC?

Sounds like you’re saying both projects have roughly the same nearby amenities. So you’re saying you think both projects are going to be successful, right?

sprekenzi deutch?
3 years ago

I DO NOT UNDERSTAND WHAT YOU SAY

Anonymous
3 years ago

Geez, marc, how dare you make valid points and proactively look to the future. That’s not how we do things in Miami.

Anonymous
3 years ago

Macy’s and Bloomingdales are two.

Anonymous
3 years ago

Lol the same Macys and Bloomingdale’s that back out of the deal with the world center? Lol ok

Anonymous
3 years ago

Wrong again.. MWC downsized and redesigned away from mall concept.. both retailers wanted that spot prior.

GMX
3 years ago

remember the new train station, the new convention center and hotel, thousands of tourists that pass by the port terminal, and not to mention they are building new condos and apartment towers in this area…i think there is demand.
also remember BCC when it started. it was in the middle of an area in brickell that didn’t have much. as soon as BCC started construction, new towers were planned just next to BCC and now we have a canyon of skyscrapers…development generates new development.

Anonymous
3 years ago

No one is talking about office towers. Why ?

Anonymous
3 years ago

Too many shopping malls….. while big superstores and luxury stores are closing due to change in the culture of shopping and shift of preferences of priorities …..

Ilovearchytecture
3 years ago

Unlike BCC this one will have air condition making it pleasant to be all year around

Anonymous
3 years ago

Your an idiot. The world center is also an outdoor facade or have you not looked at the recent renderings. You also have never been to the city centre if you believe its not well ventilated lol

Ilovearchytecture
3 years ago

Assuming “your” a Milleniun and you may have grown with a low threshold for frustration and terrible grammar

I Will not call you “an idiot” because that will be going to “your” level of anger and lack of manners, although you deserved it due to your incapacity to recognize sarcasm!
Btw I live in Brickell Key and I already have spent several “breezy cold” afternoons in BCC so imagine how breezy and cold is going to be next july or august

Anonymous
3 years ago

“Unlike THE BCC this one will have air conditionING(,) making it pleasant to be AT all year around”

Since you want to be a grammar nazi lol

Anonymous
3 years ago

Um, it’s open air…