**Miami Worldcenter Officially Opens for Business**
CIM Group has announced the official opening of Miami Worldcenter, a $6 billion, 27-acre mixed-use development that spans 10 city blocks in Downtown Miami. Representing one of the largest private urban real estate developments in the United States, Miami Worldcenter includes a vibrant mix of residential, retail, commercial, and hospitality components.
Developed by Miami Worldcenter Associates—led by Managing Partners Art Falcone and Nitin Motwani—in partnership with CIM Group, the development is situated between Biscayne Boulevard and I-95. The master plan includes $100 million in privately funded infrastructure improvements and the addition of 100,000 square feet of new public space.
Miami Worldcenter features 300,000 square feet of retail and 16 high-rise towers dedicated to residential and hospitality purposes. Upon full completion, the development will deliver approximately 11,000 residential units and over 1,000 hotel rooms.
Retail offerings include Downtown Miami’s first Apple store as well as other prominent brands such as Sephora, Lululemon, Ray-Ban, and Lucid Motors.
To date, the project has generated 9,000 jobs related to construction and development. The broader economic impact has extended to local businesses, fueling additional employment and revenue opportunities across the region.
