Upcoming Convention Center at the World Miami Center - Part 2

Miami World Center will be an iconic landmark in the skyline and the epicenter of social economic and cultural events of the city.

As news of the project, which had been rumored for months, trickled out this May, MDM and Miami World Center principals have declined to elaborate in detail on the massive plan’s cost, financing plans or timetable. No plans have been submitted to the city of Miami, where officials — who have long urged development of a new downtown convention center — say they have not been approached by the developers.

But MDM’s architect, John Nichols, who was authorized to speak on the developers’ behalf, said his client intends to push forward quickly, believes it’s financially feasible because of high demand for hotels and meeting space in Miami, and could have the project done within four years. Nichols said the project would easily cost more than $1 billion.

“Miami is such a red-hot community, and this will be a true iconic landmark on the horizon,’’ said Nichols, of Nichols Brosch Wurst Wolfe, who said the firm has completed a conceptual design. “This is a huge undertaking. We’ve blocked it out and we know it will work.’’

At the same time, Miami World Center, whose ambitious plans were stalled by the real-estate crash, appears ready to move ahead with a large retail center and several residential buildings next to the contemplated convention center. The company has issued marketing materials outlining 1 million square feet of retail, restaurant and entertainment space.

Nichols said MDM and Miami World Center are closely coordinating planning and design to ensure the project meets the goals of the broader development, which was approved as a special zoning district by the city during the previous real-estate boom. That plan outlined a dense, pedestrian-friendly district that mixes retail, commercial and residential buildings of different scales with open spaces to ensure an urban neighborhood feel.

Nichols said MDM — which separately is completing the four-block Met Miami mega-project downtown — intends to raise all financing for the project privately, with no public money. Marriott has agreed to manage the hotel, Nichols said, though the company would not comment for the moment.

Because the site sits within the city’s Overtown/Park West Community Redevelopment Agency area, however, both the convention center and the Miami World Center projects could qualify for public money from the special taxing district — possibly in the form of tax rebates — to improve public infrastructure, from sewer lines to streets and sidewalks. * Source: Huffpost Miami & Miami Herald.

To see the video click here http://www.youtube.com/watch?feature=player_embedded&v=Rd-s-o9idR8

To Buy, Sell or Rent Properties in Miami go to http://www.JuanSolerRealtor.com