Monday, March 2, 2015

MIAMI RESIDENTIAL IS GETTING SO COMPETITIVE A DEVELOPER IS PUTTING IN A SOCCER FIELD

MIAMI RESIDENTIAL IS GETTING SO COMPETITIVE A DEVELOPER IS PUTTING IN A SOCCER FIELD

What do you do if you are a residential multifamily developer in Miami to set yourself apart from all the other new luxury residential projects that are being built at the same time? Daniel Kodsi, the developer of the new Paramount Miami Worldcenter, thinks he has the answer. His project will be the first in the U.S. to feature an outdoor regulation soccer field in a high-rise residential development. It will be part of a 2 acre sports complex on the 9th floor of the 60 story building. The sports complex will also feature tennis courts, a running track, yoga room, fitness center, boxing studio and basketball court. There will also be a fully equipped music studio called a “jam room” where residents can use the drums, guitars, piano and recording studio. Finally, there will be private pool cabanas and a top floor indoor lounge. There will be 473 apartments between 1,300 – 2,300 square feet selling for an average of $700 per square foot. Occupancy is slated for late 2018 and will break ground in 2015. Who might be interested in living in a place with these kinds of amenities you might ask? That is made clear by Peggy Olin Fucci, the president and CEO of OneWorld Properties, “We have already received tremendous feedback from South American, European and Asian buyers.” And in truth that is who all of these new luxury residential projects are being marketed to. It is part of the increasing internationalization of Miami, which is in full swing these days as you can see here. As always thanks for reading and have a great day.


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