Construction Update: PARAMOUNT Miami Worldcenter Reaches Milestone Halfway Point At 30-Stories
PARAMOUNT Miami Worldcenter has reached a construction milestone halfway mark after completing the 30th floor of the glass tower’s rise. When completed, the tower will rise 60-stories and on course for its top off in summer 2018 with completion anticipated for Q1 2019. Earlier this year, PARAMOUNT reached another new high, closing a $285 million construction loan, among the largest on record for a new condominium tower in the City of Miami. PARAMOUNT Miami Worldcenter is reportedly more than 70% sold out of its 513 condo units with $360 million in sales. Units range in size from 1,180 to 2,350 square feet, with prices starting at $750 per square foot.
PARAMOUNT Miami Worldcenter is known as the most amenitized building in the country and has made international headlines with its Upper Deck, which will debut as the largest amenity deck in the U.S., spanning 90' above downtown Miami featuring an extraordinary array of 40 action-packed resort style amenities which include a resort style pool complete with floating pods, the country’s first outdoor soccer field to be featured in a high-rise residential development; two tennis courts, boxing studio, jam room, basketball court, golf simulator, state-of-the-art fitness center, guest suites, Sky Observatory, Tai Chi deck, and a rooftop entertainment deck 60-stories above the Miami skyline, amongst others. PARAMOUNT Miami Worldcenter is also the only residential tower currently for sale within the massive 27-acre mixed-use Miami Worldcenter site. Miami Worldcenter’s retail plan reflects downtown Miami’s emergence as one of the country’s fastest-growing urban centers, home to a population that has doubled in size since 2000, with a streetscape that has become more pedestrian-friendly in recent years.
“Seeing PARAMOUNT at its midpoint just six months from top off is a stunning moment for our team underscoring the continued progress as we bring this extraordinary, landmark project to life,” said developer Dan Kodsi. “This announcement marks another major milestone for the project and in the evolution of downtown Miami. We have a lot of excited residents that we cannot wait to welcome.”
PARAMOUNT Miami Worldcenter is being developed by Dan Kodsi with Art Falcone and Nitin Motwani. PARAMOUNT Miami Worldcenter is the luxury residential condo tower that is part of the larger $2 billion, 30-acre Miami Worldcenter initiative that will transform Miami's urban core via world-class high-street retail concept with shopping, dining, entertainment, hospitality, office space, a Marriott Marquis Miami Worldcenter Hotel & Expo Center, apartment rentals, amongst others.