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BY NICHOLAS NEHAMAS
More than a decade after proposing the massive, mixed-use project known as Miami Worldcenter, developers are laying the foundation for a 60-story luxury condo tower in downtown’s derelict Park West district.
One hundred trucks and more than 700 construction workers will start pouring an estimated 52 million pounds of concrete for the high-rise, called Paramount Miami Worldcenter, at 1 a.m. Saturday morning. General contractor CoastalTishman will perform the 30-hour pour.
In a statement, developer Daniel Kodsi called the milestone “a very proud moment in the evolution of the city as our tower and neighborhood fulfill its potential to become a gleaming global landmark for the city of Miami.”
The tower is expected to be completed in 2018.
Kodsi is one of several partners behind the long-planned project, which was delayed first by the Great Recession and then by debates over public subsidies. Also slated for the 27-acre site are an open-air shopping center, rental towers and a hotel.
The condo component was announced in 2014 and the extended lead time may have helped Paramount get off the ground. Other condo projects unveiled more recently are being put on hold as the luxury market turns south.
Nicholas Nehamas: 305-376-3745, @NickNehamas
Read more here: http://www.miamiherald.com/news/business/real-estate-news/article109249567.html#emlnl=Business_News#storylink=cpy