Paramount Miami Worldcenter & Downtown Miami – The Investment Potential in Miami’s Future

Downtown Miami in this context is the area north of Brickell to the Adrienne Arsht Center

Paramount at Miami Worldcenter - Answering the market's demand for more luxurious urban residences with direct ocean views.

Paramount at Miami Worldcenter – Answering the market’s demand for luxurious urban residences with ocean views.

Why Paramount Miami Worldcenter? Why Downtown? It will be the Heart of Miami

Paramount is selling the concept of urban luxury offering high-end finishes, ocean views and private elevators with all units (this tower will not have hall ways). Besides luxurious residences, Paramount offers a 6 acre amenity deck that will include swimming pools, a state-of-the-art fitness center, a signature spa, an amphitheater, and a dog walking park.

The video of Paramount Miami Worldcenter

Miami is America’s city of the future. Paramount Miami Worldcenter is located in Downtown Miami, so you need to know all that is taking place here. Downtown Miami is becoming relevant, significantly more relevant. Miami, a city of international culture and mystique has become one of the most fascinating cities in the world. In addition to being one of the most popular tourist destinations, a host to almost 14 million visitors and a population of over 2.5 million and growing, Miami is also a center of worldwide business. There are huge changes taking place in an area that had relatively little to offer in the past. Downtown Miami will be the new heart of Miami and the investment potential is significant.

The video of Miami Worldcenter

Paramount Miami Worldcenter

Paramount Miami Worldcenter will be a luxury condo development rising over 700 feet with 60 stories and 470 luxury residences. With nearly 30 acres and an estimated price tag of more than $1.5 billion, Miami Worldcenter will be the second largest urban development in the United States. Paramount MWC will be in the middle of this all.

Paramount is selling the concept of urban luxury offering high-end finishes, ocean views and private elevators with all units. Besides luxurious residences, Paramount offers a 6 acre amenity deck that will include swimming pools, a state-of-the-art fitness center, a signature spa, an amphitheater, and a dog walking park.

 

The Residences at Paramount

  • From 1 bedroom plus den (1,300 Sq.Ft under air) to 3 bedroom plus den (2,400 Sq.Ft under air)
  • 12 units per floor
  • 10-foot ceilings in all living spaces (12 ft for penthouses)
  • Private elevator access with private foyers (No hallways)
  • Laundry room
  • Outdoor living room featuring 11 ft or 14 ft deep terraces.
  • Large entertainment space
  • Designer European kitchens
  • Rain showers
  • Spa tubs
  • Full-size laundry room
  • Lock-out studio (in 3 bedroom residences)
  • Paramount residences Mobile App (One Click Experience)
  • Several packages for flooring available (marble / wood)

There is scarcity in luxury condos in the Downtown area and Paramount will fulfill this demand. While Brickell’s newest luxury condos are hardly providing ocean views, the existing bay front condos are often considerably dated. Paramount at Miami Worldcenter offers the perfect combination of brand new residences with ocean views in the heart of the new Downtown.

 

Miami Worldcenter – Downtown’s Game Changer

Miami Worldcenter is a new mega project and Downtown’s game changer. With nearly 30 acres and an estimated price tag of more than $1.5 billion, Miami Worldcenter will be the second largest urban development in the United States.  It will include 765,000 square feet of signature retail, 4.5 acres of open space, 7,000 new parking spaces, and an ultra-modern Marriott Marquis World Convention Center Hotel with 1,800 rooms, 600,000 square feet of convention space, and an 80,000 square foot outdoor event deck.  To top it all off – literally – the Master Plan for Miami Worldcenter will include multiple residential towers with over 1,000 units.

See the true magnitude of this massive project by watching the below videos.

Miami Worldcenter – The New Heart of Downtown

Miami Worldcenter – the Mall

 

The Future of Downtown Miami

There are huge changes taking place in an area that had relatively little to offer in the past. Downtown Miami will be the new heart of Miami and the investment potential is significant.

Please find below a handful of project that will change Miami’s heart forever:

1. Patricia and Phillip Frost Museum of Science
The Patricia and Phillip Frost Museum of Science (formerly known as the Miami Science Museum) is a brand new attraction to be located in Downtown Miami. The museum is currently working to transplant the museum from its current location to Park West at Bicentennial Park in Downtown Miami, along with the new Pérez Art Museum Miami. In addition to interactive science exhibits, the museum also contains the Space-Transit Planetarium, Weintraub Observatory, a Sea Lab, and the Falcon Batchelor Bird of Prey Center. The museum broke ground for the new museum in February 2012 and the grand opening is expected in 2015.

 

2. One Thousand Museum by Zaha Hadid
One Thousand Museum is bring ultra-luxury to Downtown Miami. The type of luxury condo you would normally only find on Miami Beach.  1000 Museum creates a six-star lifestyle within an exceptionally elegant private residential tower and over 30,000 Sq. Ft of beautifully designed venues for swimming, sunning, socializing, fitness and pampering that cater to fewer than 100 residences, offering the luxury of abundant space

Starchitect Zaha Hadid (Pritzker Architecture Prize winnerin 2004 and the Stirling Prize in 2010 and 2011) created this unique tower which offers duplex townhomes,  half- floor residences, full-floor residences and single duplex penthouse.
Besides the now famous heli-pad the residences offer multiple oversized balconies in every residence, ceiling heights from 10Ft to 20Ft in main living areas and  floor to ceiling windows.

Contact me for more information about One Thousand Museum –  (305) 546 7075

3. Commercial Development
Miami’s commercial Real Estate is becoming the next best thing for international investors looking into our city for investment purposes. A recent study concluded that the inventory of Miami’s offices is decreasing rapidly while the construction of new workplaces is slowing down. This together with a rising demand for commercial real estate because of an ever growing population and interest in Miami as a business hub for Latin America can only mean one thing ⇒ An Increase in prices.

Moishe Mana, the Israeli entrepreneur and real estate mogul who owns almost all of Wynwood (and therefore made this area what it is today) is rapidly purchasing large amounts of properties in Downtown (around 200,000 Sq.Ft as of now). Mana told Daily Business Review, he’s looking to take advantage of the area’s visibility and position as a gateway to Latin America and encourages businesses to come to the district from around the world.  A few of the properties that Mr Mana acquired in the last year:

  • The first two entire floors of One Flagler
  • Between Flagler Street and SE 1 Street Mana bought 3 buildings and a parking lot totaling 17,400 Sq.Ft. He bought this for the price of $7.6 M
  • 48 and 76 East Flagler where bought (a 1.1 Acre site) for $35M
  • In August 2014, a company controlled by Moishe Mana picked up 107,000 square feet of retail space on Flagler Street in three transactions totaling more than $21 million.
  • 17 East Flagler was bought for $4.5 million in September 2014

Read more about the potential of Miami’s commercial real estate

 

4. The Green Belt / Biscayne Green
Great initiatives are coming from the Miami Downtown Development Authority to make Downtown more pedestrian friendly and greener than it already is. One of the plans is to to turn the stretch of Biscayne Boulevard from SE 1st Street to NE 5th into a ‘Biscayne Green’, saying it’s a huge step towards a walkable future for the city. All the current parking spaces will then be changed into little parks. See the video of this plan below.

 

 

5. The $12M facelift of Flagler Street
Flagler Street is getting a $12M facelift. The City of Miami as well as private investors are lining up to beautify and restore Flaglers 1950s glory. The plan involves:
  • The Improvement of traffic floors
  • Expanding and straightening sidewalks
  • Adding trees, benches and bicycle racks.
  • The sidewalks will also be designed to resemble railroad tracks, harkening back to the days of Miami’s founding father Henry Flagler.

 

6. SkyRise Miami
Miami will also be home to SkyRise Miami. This brand new icon on Miami’s skyline is more than just a mere observation tower, with breathtaking 40 mile vistas of this oceanfront city. Its entertainment venues are designed to be enjoyed by visitors and residents alike. From fine dining and an exclusive nightclub, to its ballroom and distinctive event space. This vertical entertainment center has something for everyone and will deliver an unforgettable experience for all.

 

Skyrise Miami, a new icon on the Miami skyline

Skyrise Miami, a new icon on the Miami skyline

Residents of the great Miami Downtown area are now also enjoying a striving arts, fashion and fine-dining culture. While everyone might have heard from the Adrienne Arsht Center for the Performing Arts not all people know about Miami’s Art Walks or the high-end fashion scene in the Design District.

 

 

7  All Aboard florida
Finally, the “All Aboard Florida”-State of the art passenger train arrives in 2016, connecting Orlando to Downtown Miami.

 

Miami Downtown’s Existing Points of Interest

Besides the above mentioned new project Downtown already offers some great cultural, artistic and sports venues that attract many Miamians to the Downtown area.
  •  American Airlines Arena; home to the Miami Heat and concerts of many international superstars.
  • The Adrienne Arsht Center for the Performing Arts; From opera to Broadway, dance to drama, symphonic to pop concerts, cabaret to comedy, jazz to world music, and beyond, this center is home to the greatest artists and productions from around the world.
  • The Perez Art Museum; In 2014, Miami opened the PAMM – Perez Art Museum Miami. The PAMM is a modern and contemporary art museum dedicated to collecting and exhibiting international art of the 20th and 21st centuries.
  • Museum Park; Museum Park is a 30-acre (0.12 km2) public, urban park in downtown Miami, Florida. The park opened in 1976 as Bicentennial Park on the site of several slips served by the Seaboard Air Line Railroad. For some time It was named “Bicentennial Park” to celebrate the bicentennial of the United States in that same year.
  • Bayside Marketplace; This open air shopping mall offers a variety of shops, restaurants and bars and  will soon get a total make-over.

 

Some useful statistics on living and working in Downtown Miami.

See some of the main statistics of Downtown growing area in the table below (Source DDAMiami)

Live, work, play and visit Downtown Miami. What Downtown Miami has accomplished so far.

Live, work, play and visit Downtown Miami. What Downtown Miami has accomplished so far.

 

Please contact me for any additional information on Downtown Miami, the Miami Worldcenter project or Paramount

——————-

DAVID SIDDONS 

+1 305 508 0899 | david@siddonsgroup.com

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