Downtown Miami Retail Space And Plaza Open In Nation’s Second-Largest Project Of Its Kind
The streets of downtown Miami are buzzing with energy as crowds explore the newly opened retail and dining spaces of Miami Worldcenter.
This moment marks a major milestone in the $6 billion development—now the second-largest urban mixed-use project underway in the U.S., second only to New York’s Hudson Yards.
Two decades in the making, Miami Worldcenter was envisioned by developers Art Falcone and Nitin Motwani as a pedestrian-friendly district inspired by walkable global cities like Paris and London.
“Great communities are built by people, not just buildings,” said Motwani at the recent grand opening of 300,000 square feet of retail and entertainment space. “That’s what we’ve created here.”
The 27-acre project blends wide sidewalks, plazas, and landscaped public spaces with residential towers, hotels, and transit connectivity. Despite offering 2,000 parking spaces, Miami Worldcenter avoids street-level garages in favor of active ground-floor spaces that foster foot traffic and community engagement.
Originally planned as a $1.8 billion investment in the early 2000s, the project weathered the Great Recession and other delays. Today, over $2 billion in developments have been completed, with another $2 billion underway. The development has brought in 16 partners, including Los Angeles-based CIM Group, which joined in 2011.
Retail Mix And Public Spaces
Anchored by a 20,000-square-foot plaza called World Square, the project features 100,000 square feet of walkable retail promenades. Tenants include a mix of global brands and local attractions, such as the Museum of Ice Cream and Lucky Strike Bowling. Downtown Miami’s first standalone Apple store—a 15,000-square-foot timber structure with a rooftop garden—is also located in World Square.
The transformation is striking: what was once an area dominated by empty lots and aging warehouses is now a vibrant destination. The 2014 opening of a $1 billion Port Miami tunnel helped catalyze redevelopment by rerouting heavy truck traffic away from the area.
A $100 million investment in infrastructure improvements—funded privately by developers—allowed for wider sidewalks, improved drainage, and better access for pedestrians, bicyclists, and vehicles.
Transit-Oriented Living
Miami Worldcenter’s prime location near public transit is another cornerstone of the project. It’s steps from the Metrorail, Metromover, Tri-Rail, and the Brightline high-speed rail, offering car-free convenience in a city notorious for congestion.
“Transit-oriented development is the future,” said CIM Group’s Ryan Harter. “It’s what makes cities livable today and tomorrow.”
Future Growth
While the current retail footprint is 300,000 square feet, developers expect to reach 450,000 square feet as remaining phases are completed. One major addition is planned for Block C, where a 53-story condo-hotel has been proposed, including 280 hotel rooms, 351 condos, restaurants, retail, and parking.
Falcone Group, along with Nichols Architects, recently unveiled renderings for the Block C tower at 155 NE 10th St., although project partners have yet to be announced.
Adam Neumann’s Flow is also contributing, with 28,000 square feet of retail opposite two of its residential towers. Flow House, its first condo building, is set to open in 2025.
Other developers, including Witkoff, Naftali Group, and Lalezarian Properties, are also shaping the area. Witkoff’s plans include more retail, restaurants, and over 2,000 residential units. Lalezarian’s Miami World Tower 1 opened in late 2024.
A New Urban Hub
“Miami Worldcenter is truly a city within a city,” said Harter. “Few places in the world offer this level of connectivity combined with cultural, commercial, and residential opportunities.”
Project Partners
Alongside Falcone Group and CIM Group, other development partners include Moinian, Related Group, Aria Development, Comras Co., Abhi Capital, Lynd Living, Royal Palm Cos., Zom Living, and E11even Partners.
Source: CoStar
