**Miami Worldcenter Officially Opens, Ushering in New Era for Downtown**
CIM Group has officially announced the grand opening of Miami Worldcenter, a transformative 27-acre, 10-block mixed-use development in the heart of Downtown Miami. The $6 billion project combines residential, retail, commercial, and hospitality elements, representing one of the largest private urban developments in the United States.
Developed by Miami Worldcenter Associates—led by Managing Partners Art Falcone and Nitin Motwani—in partnership with CIM Group, Miami Worldcenter is located west of Biscayne Boulevard and east of I-95. This expansive project features:
– $100 million in completed private infrastructure improvements
– 100,000 square feet of newly created public space
– 300,000 square feet of retail space
– 16 high-rise towers for residential and hospitality use, many of which are already completed or under construction
At full build-out, the development will offer approximately 11,000 residence units and more than 1,000 hotel rooms.
Retail tenants include the first Apple Store in Downtown Miami, alongside national brands such as Sephora, Lululemon, Ray-Ban, and Lucid Motors, marking a significant milestone in the area’s retail revival.
To date, Miami Worldcenter has generated over 9,000 jobs, with additional employment and economic opportunities stemming from indirect construction impacts and local business growth. The project is poised to become a long-term catalyst for the continued evolution of Downtown Miami.
