Our site plan has been approved by the city and existing buildings on the property are being demolished. The first phase includes Paramount Miami Worldcenter condominium, The Mall at Miami Worldcenter, and a luxury apartment tower. Encore principals have been involved in this project dating back 10 years, when we acquired our first parcels in downtown Miami. We've since watched downtown grow-up around our site, and we're ready to contribute to the area's commercial and residential base by bringing this 27-acre project to market.

GlobeSt.com: We're seeing a lot of mixed use development in and around downtown Miami right now. What makes Miami Worldcenter stand out from other projects?

Falcone: Miami Worldcenter's appeal starts with its mix of uses: over 1 million square feet of retail anchored by Macy's and Bloomingdales, an 1,800-room Marriott Marquis hotel and adjacent expo center, and luxury condos and apartments. Then you look at our location and you begin to see why we've been so well received by international retailers.

Our site is a block from the new art and science museums, two blocks from the performing arts center, next to the new All Aboard Florida rail terminal, walking distance to Flagler Street, and a few minutes from South Beach and Miami International Airport. No other development in Miami can compare to Miami Worldcenter's uses, location and access.

GlobeSt.com: Where do you see the Florida real estate landscape headed in 2016 and beyond, and how is Encore gearing up for the coming years?

Falcone: We're bullish on the state as a whole and we're deploying capital as a result. Encore's target markets right now are population centers in Miami, Orlando, Jacksonville, and Tampa, and we're in the early stages of major mixed-use developments in each of those places. The real story right now is the tourism market, which keeps getting stronger each year.

Florida welcomed more than 54 million people in the first half of 2015, which was a 6% year-over-year increase. That growth is a positive sign for the larger economy, in terms of job creation, the tax base and inbound investment flowing in from overseas.

On the business front, we're seeing more financial firms from the northeast relocating to South Florida because of our favorable tax policies and quality of life. Those companies, plus emerging technology firms, are helping to diversify the economy.