The much-discussed Downtown Miami convention center hotel planned for the old Miami Arena site (700 North Miami Avenue) inches closer to life, with MDM Group reportedly under contract to acquire the property for $44.5 million with the deal expected to close by the end of March, according to The Next Miami.
New plans were filed under the “Marriott Marquis Miami Worldcenter Hotel & Expo Center” towards the end of 2016, with the updated design calling for two standalone towers within the estimated $750 million project. NBWW is the architect.
The 1700-room hotel with 600,000 square feet of convention space is expected to break ground this spring, rising next to two other monster projects under construction in MiamiCentral station and Paramount Miami Worldcenter, with the latter pouring the foundation for its amenity-filled residential tower in October.
Downtown Miami’s development scene is popping, with other exciting developments like Zaha Hadid’s One Thousand Museum well underway and the massive One Bayfront Plaza in the pipeline.
The Miami Arena, which was leveled in 2008, used to house the Miami Heat, Florida Panthers, and Miami Hurricanes basketball. It became obsolete when the AmericanAirlines Arena opened a few blocks away in 1999.
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