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Miami Beach Convention Center Moving Forward with Selected Developer

July 30, 2013

After much well-deserved media attention, including by Metro 1 CRE, it’s finally been announced that ne of the nation’s most significant urban developments is going under way in South Beach – the renovation of Miami Beach’s famed convention center district.

As the Miami Herald reports:

“South Beach ACE and Miami Beach now move on to negotiate financial terms and what the 52-acre project will ultimately look like. Plans call for the public to shoulder a $600-million upgrade to the city’s out-dated convention center and the addition of acres of public parks where there is now only asphalt…

After much well-deserved media attention, including by Metro 1 CRE, it’s finally been announced that ne of the nation’s most significant urban developments is going under way in South Beach – the renovation of Miami Beach’s famed convention center district.

As the Miami Herald reports:

“South Beach ACE and Miami Beach now move on to negotiate financial terms and what the 52-acre project will ultimately look like. Plans call for the public to shoulder a $600-million upgrade to the city’s out-dated convention center and the addition of acres of public parks where there is now only asphalt.

To help pay for the project, and to bring life to an area that has been described as a dead-zone in the middle of vibrant South Beach, the city hopes to negotiate leases with ACE for the development of a new convention center hotel, shops, restaurants and possibly apartment buildings.

Over the course of many months, competing teams created, pitched and tinkered with grandiose master plans to transform Miami Beach’s Convention Center District into an urban center of iconic design, with improved connectivity to abutting neighborhoods, Lincoln Road mall and cultural facilities.

Considered one of the most significant urban projects in the country, the opportunity attracted world-renowned developers and prize-winning architects.”

It’s worth mentioning that South Beach ACE is led by Tishman Hotel and Realty, whose related companies count such prominent figures as Robert Wennett (known for the beautiful 1111 Lincoln Road) and Pritzker-Prize winning architect Rem Koolhaas. The dramatic One World Trade Center in New York is one of the many projects done by its associated partners, which bodes well for the new convention center area; this will no doubt be one of the most significant developments in the history of Miami Beach Commercial Real Estate.

Such amazing undertakings reflect the creativity and dynamism of Miami Beach. With millions of people from all over the world visiting every year, there’s a thriving market for all sorts of commercial ventures. To learn more about the opportunities available in this thriving world city, contact industry leader Metro 1 CRE at 305-571-9991.

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