Construction on Miami World Center ‘Jewel Box’ Begins
Photo Credit: Miami Worldcenter Associates
Miami Worldcenter is a 27-acre urban destination development that will bring new businesses, real estate opportunities, and most of all a new energy to downtown Miami. This site will be a unique blend of commercial and residential towers including Paramount Miami Worldcenter, Miami Worldtower, and Legacy Tower.
Construction for the signature “Jewel Box” in the middle of Miami Worldcenter will feature a retail building that will be located at 150 N.E. Eighth Street. The 2-story tower will boast 78,000 square feet of retail space with a rooftop terrace and public gathering space.
Photo Credit: Miami Worldcenter Associates
Developed by Miami-based Miami Worldcenter Associated and Los Angeles-based CIM Group. The Jewel Box will be designed by Coral Gables-based Nichols Brosch Wurst Wolfe & Associates.
Managing partner of Miami Worldcenter Associates stated, “The final elements of this world-class retail development plan are coming together, and the design and concept for the signature ‘Jewel Box’ element reflects the strong feedback we’ve received from brands from around the world and across South Florida.”
The jewel box will feature floor-to-ceiling glass that will reflect the outside elements that will create a jewel-like effect. Mixing the designs of a boutique retail space and diverse entertainment, the jewel box will be the “go-to” place for all Miami residences.
Construction for the jewel box is currently underway and the anticipated completion date is scheduled for the summer of 2022. Once the full Miami Worldcenter project is complete, the developers are estimating that the cost of the project is $4 billion.
The jewel box is a part of the 130,000 square feet of retail that is already under construction at the Miami Worldcenter with another 150,000 square feet already completed.
Legacy Hotel & Residences Breaks Ground
Photo Credit: owpbrokers
The highly anticipated Legacy Hotel & Residences finally broke ground today at the development site located at 942 NE 1st Avenue in the heart of downtown Miami. In attendance was Ken Russell (City of Miami Commissioner), representatives of Royal Palm Companies, and Peggy Olin (Owp Property representative).
Also known as Legacy Miami Worldcenter, Legacy is one of the newest pre-construction residential towers located in Park West Miami. The luxury tower will rise 50 stories at 668 feet tall making it the second tallest tower at Miami Worldcener. This tower sold out of all the units prior to the groundbreaking and is the first development to sell out prior to construction.
This mixed-use development will feature 312 residential units, 262 luxury hotel rooms, a business center, medical office, retail space, and rooftop atrium with all of the luxury amenities a 5-star hotel could offer.
The residences will include studio to 2 bedroom floor plans with 368 to 964 square feet options. The units will be fully finished and furnished. One of the unique things about Legacy is that residents will be able to rent their units without any restrictions. This includes utilizing a short-term rental company, whether its the Legacy’s rental program, Airbnb, or VRBO.
CONSTRUCTION INFORMATION
DEVELOPER: ROYAL PALM COMPANIES
ARCHITECT: KOBI KARP
DESIGNER: ID & DESIGN INTERNATIONAL
HOTEL AREAS (GROUND LEVEL AND PEDESTAL)
SPECTACULAR 40 FT. HIGH LOBBY WITH GLASS ELEVATORS
SIGNATURE INTERNATIONAL RESTAURANT
FULL-SERVICE CAFÉ WITH LOCALLY SOURCED BAKED GOODS
FIRST OF ITS KIND INTERNATIONAL BUSINESS LOUNGE
GRAND BALLROOM AND EVENT SPACES
SHUL WITH KOSHER KITCHEN
ONE ACRE POOL DECK (9TH FLOOR)
LARGEST DOWNTOWN HOTEL POOL DECK
MULTIPLE WATER FEATURES AND FULL-SERVICE POOL
SIGNATURE RESTAURANT SERVING ALL MEALS
BAR AND LOUNGE
LUXURIOUS DECK FURNITURE
LUSH LANDSCAPING
PLUSH CABANAS
ROOFTOP ATRIUM AND EVENT SPACE
DECADENT LOUNGE WITH SEATING AMIDST GARDENS
FULL-SERVICE BAR FOR INDOOR AND OUTDOOR SEATING
CANTILEVERED, INFINITY-EDGE, SINGAPORE INSPIRED POOL 500-FEET IN THE AIR
ROOFTOP SUNDECK WITH ENDLESS DOWNTOWN VIEWS
PLENTIFUL EVENT SPACE
CENTER FOR HEALTH & PERFORMANCE
50,000 SQ FT MEDICAL CLINIC WITH SUITES FOR HEALTH AND PERFORMANCE
DIAGNOSTICS AND TECHNOLOGY
VIP HEALTH CLUB WITH OPERATING ROOMS AND PRIVATE VIP ENTRANCE
ADVANCED PERFORMANCE TESTING CENTER
WELLNESS (SOME COSTS MAY APPLY BASED ON USAGE AND PROCEDURES)
MEDICAL FITNESS WITH PRESCRIPTION FOR HEALTH
VITALITY SPA
FITNESS STUDIOS
SPORTS MEDICINE/PHYSICAL THERAPY
EUROPEAN STYLED STEAM ROOM
RELAXING SAUNA
ALTITUDE TRAINING ROOM
CRYOTHERAPY CHAMBERS
JUICE/BEVERAGE BAR
IV NUTRITION THERAPY
All but 2 of the 312 units have sold for a combined value of $212 million. Average prices range between $350,000 to $2 million. Royal Palms closed on the construction loan in May 2021. Legacy Hotel & Residences is expected to be completed by 2024.
