Miami Worldcenter Lands $89 Million Construction Loan
Despite concerns of oversupply in the multifamily market, the developer of Miami Worldcenter has closed on an $89 million construction loan to finance the construction of their first multifamily tower, Seventh Street Apartments. The lending market has been tightening across the board over recent months for commercial real estate loans, but this project was able to secure financing due to its proximity to All Aboard Florida’s Miami Central Station.
The rental project will be just one section of the 27 acre project, which is slated for completion in 2018. When completed, it will comprise of two towers. The first, a 43 story tower with 450 rental apartments, followed by a second tower with 413 rental apartments. The first tower broke ground in June and construction recently went vertical. The construction loan closed December 19.
Paramount Miami Worldcenter Claims it Will Have the Most Amenities in the World
Paramount Miami Worldcenter, the flagship residential tower of the gigantic Miami Worldcenter megaproject has publicly declared in promotional emails that it will have ‘The Most Amenities in the World.’ It’s a pretty bold statement that demands some scrutiny. Somebody call the Guiness Book of World Records, because we need to fact check that wack.
Here’s the building’s amenity list for comparison. More renderings are below as well.
LOWER LEVEL
Expansive double-height lobby
Porte Cochère with 24-hour valet
Direct access to Miami Worldcenter
Basketball Half-Court
Racquetball Court
Business Center and Meeting Rooms
7TH FLOOR AMENITIES
Relaxation Areas
Conservatory
Relaxation Lounge
Outdoor Lounge with seating and gardens
Spa/Salon
Outdoor Bath Gardens
Steam Showers
Yoga Studio
Treatment Rooms
Hair/Nail Bar
Indoor Sports Center
State-of-the-art Fitness Center
Boxing Studio
Aerobics Area
Entertainment Center
Game Room
Golf Simulator
Kids Play Room
Recreation Lounge
Demo Kitchen
Jam Room with Recording Studio
Essentials
Food Market
UPPER DECK
Resort Pool
Poolside Bungalows
Poolside Daybeds
Floating Seating Pods
Sunken Pods with Firepits
Summer Kitchens with BBQ
Children’s Playground
Soccer Field
Tennis Courts
Dog Park
Jogging Path
SKYDECK & LOUNGE
Lounge
Sunrise Pool
Firepit
Infinity Pool
Sundeck
Observatory
Tai Chi Deck
