A joint venture between Miami-based Aria Development Group and Fort Lauderdale-based Merrimac Ventures has acquired the last remaining parcels of land at the 27-acre Miami Worldcenter mixed-use district in Downtown Miami. The 34,800-square-foot assemblage includes a 24,000-square-foot site at 33, 45, and 55 Northwest 6th Street known as The Miami Link, acquired from I L A Employers Welfare Fund SE FL Ports Inc. (International Longshoremen’s Association) for $11 million, and a 10,800-square-foot-site at 600 Northeast 1st Avenue, acquired from Miami SPE LLC for $6.5 million, bringing the total acquisition cost to $17.5 million. The developers are planning a residential condominium tower currently named 600 Miami Worldcenter, with over 600 units across as many as 32 floors. Revuelta Architecture International is the design architect, and DesignAgency is handing interior design.
Located at the southern entrance of Miami Worldcenter, 600 Miami Worldcenter will be positioned within 1,000 feet of Miami’s largest transportation hub, creating new mobility pathways so residents and employees can embrace the perks of working, living, and playing in the enhanced, vibrant neighborhood.
The white placeholder is where 600 Miami Worldcenter will rise.
“600 Miami Worldcenter’s prime location and advantageous zoning provide a unique opportunity to capitalize on the continued strong demand for housing in Downtown Miami,” said Mattingly. “The site will expand Aria Developments Group’s presence in Downtown where they currently already have two successfully sold-out projects – Yotel Miami and 501 First.”
“We are thrilled to have the opportunity to develop another fantastic project in the vibrant and dynamic Downtown Miami market. Presales for 600 Miami World Center are already off to a strong start,” commented David Arditi, Co-Founder of Aria Development Group and Head of Aria Miami.
Miami Worldcenter is being developed by master developers Miami Worldcenter Associates, led by Principal Art Falcone and Managing Partner Nitin Motwani, in partnership with CIM Group. Colliers Executive Managing Director Mika Mattingly, Executive Director Jack Lowell, and Senior Associate Cecilia Estevez represented the buyer and seller.
600 Miami Worldcenter launched earlier this month. OneWorld Properties is leading sales for the project.
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What… No countdown? It would be great to see the projects in order since there are so many!