MIAMI
MDM Group, a developer based in Miami-Dade County, announced it has closed on a five-acre parcel in Overtown which once housed the original Miami Arena to build a new hotel and conference center.
Located at NW 7th St. and 1st Ave., the $45 million acquisition is a next step in the process of developing the Marriott Marquis Miami Worldcenter Hotel & Expo Center, bringing to downtown Miami the world class conference and exposition center long-sought by local leaders. The seller is Old Arena LLC.
This landmark hotel and convention facility is slated to be built in two phases. The initial phase of the construction will include the 600,000-square-foot conference and exposition space along with 1,100 hotel rooms. The second tower will consist of 600 hotel rooms, and will begin shortly after construction commences, bringing the total number of hotel rooms to 1,700. MDM expects to break ground in 2017.
“We have been passionately working on this project and are thrilled to be another step closer to creating a hotel and conference center that will continue to further the City of Miami’s stance as a true global destination,” said Joseph Herndon, director of development, for MDM Development LLC.
The development is expected to generate thousands of jobs during construction phases and it is expected to pave the path for hundreds of both direct and indirect career opportunities.
The project has been designed by Miami architects Nichols Brosch Wurst Wolfe & Associates (NBWW). RTKL, the globally acclaimed creative services organization, is the development’s interior design firm.
