Work on 43-Story Apartment Tower at Miami Worldcenter Set to Begin
Zom Living of Orlando and the Moinian Group of New York City acquired the project site located one block from Biscayne Boulevard from Miami Worldcenter Associates, the developer of the $4-billion mixed-use project being developed on 27 acres that is now under construction.
MIAMI—Partners Zom Living and Moinian Group after recently completing the land purchase for the project, say construction on their 43-story Luma at Miami Worldcenter apartment tower at the multi-billion-dollar Miami Worldcenter development in Downtown Miami should begin in a matter of weeks.
Zom Living of Orlando and the Moinian Group of New York City acquired the project site located one block from Biscayne Boulevard from Miami Worldcenter Associates, the developer of the $4-billion mixed-use project being developed on 27 acres that is now under construction.
The 434-unit apartment tower is to be the focal point of Miami Worldcenter and is located adjacent to the Freedom Tower Metromover stop and two blocks east of Brightline/Virgin Train’s Downtown Miami station, which will provide residents convenient access to MetroRail, TriRail and Brightline Florida.
“Today’s urban renter demands a luxurious building with market-leading amenities and high pedestrian value, and Luma will provide all that and more,” says Greg West, CEO of ZOM Living. “Luma’s close proximity to parks, cultural venues, transportation and retail are unmatched in the market, and our setting within Miami Worldcenter will offer residents next-level convenience and connectivity.”
“After successfully developing the country’s largest single tower residential development Sky (71-story tower in New York City), which includes over 70,000 square feet of cutting-edge amenities, we are excited to expand our presence in such a cosmopolitan city like Miami, and more specifically Miami Worldcenter,” says Joseph Moinian, founder and CEO of The Moinian Group.
Luma will have a variety of floor plans ranging from 566 square feet to 1,808 square feet. The residential floors have a maximum of 12 units per floor, allowing what the developers say will be “an intimate feeling in a tall slender tower that maximizes views of Biscayne Bay and the Atlantic Ocean.”
Amenities at the Lumina tower will consist of more than 45,000 square feet of space that will include a membership-grade wellness center with treatment rooms and sauna, sundry shop, speak easy, dog salon, fitness club with classroom, resort-style pool and comfortable ride share lobby. The project development partners say the common areas will provide a “five-star hotel-caliber experience that fosters interaction among residents and provides an urban oasis without having to leave the community.”
“The success of Miami Worldcenter has always been grounded in collaboration with best-in-class partners, such as ZOM Living and Moinian,” says Miami Worldcenter managing partner Nitin Motwani. “Luma will kick-off the next phase of development for our city-within-a-city, delivering premium apartments that meet growing demand for urban living in Downtown Miami.”
The Miami Worldcenter development will feature 300,000 square feet of high street retail, destination dining and entertainment, more than 2,000 hotel rooms and up to 500,000 square feet of Class A office space.
ZOM Living has 6,000 units currently under construction or in design/predevelopment throughout the US, with a total capitalization of $1.9 billion. The Moinian Group’s holdings include high-profile assets in New York, Dallas and Los Angeles. on more than $750 million of transactions with Luma as its second Miami project. Moinian Capital Partners offer construction loans, bridge loans, senior mortgages, mezzanine loans, preferred equity and common equity structures. Through leverage and syndication, the firm’s total lending capacity is in excess of $1 billion annually.