Miami Worldcenter is noted as one of the largest private real estate projects underway in the entire nation, and it’s about to get even bigger. Hines has announced plans to develop a massive mixed-use tower right within the project itself, and project renderings indicate this sprawling new tower will enhance the wow factor of the project even further.
Hine will develop 110 10th Street, which will be a 45-story tower that spans 600,000-square-feet. The tower will include both Class A office space and high street retail, and it will slide right in next to Miami Worldcenter’s 360,000-square-foot high-street retail promenade.
“We are very excited about introducing this new icon to the Miami skyline. It has been nearly a decade since Miami has received an office tower of this size and scale. We strongly believe that the quality, location, and accessibility of this building will be appealing to a wide range of tenants and ultimately, once finished, we feel this will be the premier office and mixed-use tower in the City of Miami,” said Hines Senior Managing Director Michael Harrison.
Hines plans to begin the project on the tower in the second quarter of 2018, and it’s slated for completion by early 2021 at the latest. As for Miami Worldcenter itself, construction on the first phase began last year. That phase includes a 50-story Paramount luxury condominium, a Class A rental apartment building, and high-street retail.
“Our vision for Miami Worldcenter has always involved working with a world-class team of developers to create a mix of uses that addresses downtown Miami’s commercial and residential needs and contributes to the city skyline,” added Nitin Motwani, Managing Principal for master developer Miami Worldcenter Associates.
All told, the 10-block mixed-use development will span 27 acres in the heart of downtown Miami. This is a transformative project for the South Florida region, and it sounds like the newly announced tower from Hines will fit in quite nicely, as it will fulfill a huge need in the Miami office market, as there is reportedly a huge amount of demand for Class A office space.
“More companies are moving to downtown Miami each day and existing brands are expanding here. An office tower at Miami Worldcenter will offer tenants a chance to be in a mixed-use setting that’s centrally located, walkable and connected,” Motwani continued.
