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Developers hope to finish 513-unit project by 2018
Come this weekend, things are going to get a lot louder at Paramount Miami Worldcenter’s development site in downtown Miami.
More than 100 concrete trucks are slated to invade the 100 block of Northeast Eighth Street this Saturday for a marathon 30-hour foundation pour starting 1 a.m., marking a major milestone in the 60-story condo tower’s development.
General contractor CoastalTishman, a joint-venture between Coastal Construction and Tishman Construction, will oversee roughly 700 workers as they spread 13,000 cubic yards of concrete.
The pour promises to be one of Miami’s largest, rivaling that of Tibor Hollo’s Panorama Tower in 2015 which spanned 22 hours and took 175 trucks to complete.
Once Paramount’s foundation is completed, vertical construction on the 700-foot building can begin. The tower will be built alongside the larger Miami Worldcenter project’s 450,000 square feet of retail.
Paramount, and Miami Worldcenter as a whole, are being developed by Dan Kodsi, Nitin Motwani and Art Falcone. The project will house 513 units ranging in size from 1,180 square feet to 2,350 square feet, with prices averaging $700 per foot. So far, 50 percent of those units have been sold.
The developers hope to finish Paramount by 2018. And while the condo component begins to take shape, construction will also begin on the first phase of Miami Worldcenter’s expansive retail component.
Worldcenter’s design was scaled back considerably in February as the developers sought to hedge themselves against a retail market that increasingly favors high street and online shopping. The project shaved off roughly 300,000 square feet of shopping space, leaving the fate of Worldcenter’s planned anchors — Macy’s and Bloomingdale’s — uncertain.
Orlando multifamily developer ZOM is also planning a luxury apartment building with 429 units as part of the project, and the MDM Development Group recently scored city approval for Worldcenter’s companion hotel and convention center with 1,100 rooms and 350,000 square feet of event space. — Sean Stewart-Muniz, The Real Deal