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BY Michael Light / On November 17, 2013
Marriot at Miami World Center
Marriot Convention Center Rendering

It appears as if the Marriott Convention Center at Miami Worldcenter is a real thing, which is huge news for the redevelopment of Downtown Miami. The site, at 700 North Miami Avenue, is currently Grand Central Park, a privately fashioned park in downtown (although it hardly resembles anything close to an actual park) which was purchased nearly two years ago by a major stakeholder in Miami Worldcenter, Art Falcone of the Falcone Group, for a staggering $35 million.

In a sign of potential future development, Grand Central Park has received a final eviction notice, the result of a lawsuit filed last month by a Miami Worldcenter affiliate, on the land it leases from the developer. While the notice was filed October 1st, the eviction likely will not take place until March of next year, at the earliest, as the legal process continues to play out.

Miami Worldcenter is said to have an agreement with MDM Group (“MDM”), who plan to develop a Marriott Hotel and Convention Center on the site. MDM will be privately financing the undertaking, although it would still be attached to the proposed Miami Worldcenter mega-development. The planned improvement, designed by the Coral Gables based architectural firm Nichols Brosch Wurst Wolfe & Associates, consists of a 1,800-room Marriott Hotel, which would make it the largest hotel in South Florida, atop 500,000 square feet of convention space.

The site would also be connected, via a skybridge, to the planned All Aboard Florida train station, a downtown intermodal district that would connect Miami and Orlando by rail. MDM and Miami Worldcenter principals have declined to provide an estimated cost for the project.

It seems as if the continued improvements in Downtown Miami will not slow down anytime soon which just adds fuel to the debate regarding property values of condos in Downtown Miami. Between the 27 consecutive months of year-over-year price increases on condos and the new Miami Worldcenter development, there is no denying the possibility of huge gains in property values over the next decade.  If you, or someone you know, are interested in purchasing a condo in Downtown Miami, please contact me. I appreciate the opportunity to earn your business.

Here is a video of the proposed Marriot Convention Center at Miami Worldcenter:

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