From Globest.com "MIAMI—Developers are working hard to differentiate their Downtown Miami condos, but the market hasn’t seen anything quite like this yet. Paramount Miami Worldcenter will be home to America’s first outdoor soccer fields in a high-rise residential development.
Soccer is the world’s most popular sport and is gaining massive attention in Miami as the city works through details of a new soccer stadium. In the meantime, residents at Paramount can have kick all the goals they want in an indoor regulation size soccer field located within a two-acre sports complex on the ninth floor of the 60-story tower.
“The world’s number one sport is coming to Paramount Miami Worldcenter,” says developer Daniel Kodsi, who has developed a real estate portfolio of over $1.1 billion in mixed-use, multifamily, condo and single-family homes over the past 25 years. “We are including amenities for families who wish to live in the core of Downtown Miami but also want plenty of open green space to play. Paramount has already attracted buyers from around the world…”
Beyond soccer, the outdoor sports complex will be home to tennis courts, a running course, yoga deck, and basketball court or use the fitness center or boxing studio inside. Meanwhile, a “jam room” will come fully equipped with drums, guitars, a piano and recording studio. Private outdoor bath houses offer serene pools with 180-degree view from a top-floor indoor lounge.
“An amenity like the soccer field really catapults Paramount Miami Worldcenter into a league of its own,” says OneWorld Properties’ president and CEO Peggy Olin Fucci, who is leading marketing efforts for the property. “We have already received tremendous feedback from South American, European and Asian buyers.”
Paramount Miami Worldcenter is located on Biscayne Bay and surrounded by the American Airlines Arena, Adrienne Arsht Center, and the Pérez Art Museum Miami. The tower will be within walking distance of the new pedestrian 7th Street Promenade, which will be home to premier restaurants and outdoor cafes.
The project features 473 city and bay-view residences. Residences will range in size from 1,300 to 2,300 square feet, with prices averaging $700 per square foot. The project is scheduled to break ground in the second quarter of 2015 with occupancy slated for the third quarter of 2018.
Downtown Miami condo prices are soaring. Prices for resale condo units in Downtown Miami from the last boom have increased 75% over the past two years, rising from an average of $230 per square foot to $400 per square foot. The DDA credits most of appreciation to value recovery stemming from market stabilization and the launch of new projects since 2011.
“Strong buyer demand, appreciating prices, and growing appeal among renters continue to fuel the downtown Miami condo market,” says Anthony M. Graziano, senior managing director forIntegra Realty Resources in Miami, whose firm conducted the study. “While we expect price increases to slow with time, downtown is well positioned to absorb the new condo inventory currently under development should present-day buyer trends hold.”
