The concrete foundation work has been completed for the $500 million Paramount Miami Worldcenter condominium tower. The 700 foot tall, 60 story building will have 512 units and is part of the larger mixed use scheme, Miami Worldcenter. The skyscraper will feature one of the largest private urban amenity decks in the world. The deck, located 90 feet above downtown Miami, will have resort-style pools, bungalows, walking paths, tennis courts, a full-size soccer field and indoor boxing studio, and half basketball court. The 60th floor skydeck will offer an astronomy observatory, a plunge pool, and 360-degree views of Greater Miami, Miami Beach and Biscayne Bay. Private elevators will lead to and from the promenade and Skydeck. One-bedroom residences start at $700,000 and penthouses at $4 million. The tower is expected to be completed in 2018.
The largest building project in the history of Florida, Miami Worldcenter is America’s second largest urban development. The master-planned community will be a major retail, residential, dining, entertainment, hotel, convention center and transportation complex. “Downtown Miami real estate is among the hottest, most valuable, most stable investments in the world,” Paramount Miami Worldcenter CEO and developer Daniel Kodsi stated. “Downtown Miami real estate valuations traditionally increase from 4 to 10 percent annually. When people come to Miami, whether they are coming from the airport, coming from the north or from the south, this is going to be the building they see in the center of the city. It’s going to signify that you have arrived in downtown Miami.”
