Paramount Miami Worldcenter Skyrise Prepares for The Future Of Fl Ying Cars
Are helicopters yesterday’s Model T? Paramount Miami Worldcenter developer Dan Kodsi, thinks so and is preparing for the future of urban aviation by making modifications to the rooftop design of the tower in order to accommodate a 5,000- square-foot Skyport atop his new 60-story downtown Miami high-rise.
A veteran developer, with a master in urban planning and background as a recreational pilot, Kodsi has built more than 6,000 units over the course of his 30-year career. Today, he is readying his state-of-the-art future-forward residential tower, with the ability to convert its rooftop into a Skyport for vertical takeoff and landing (VTOL) aircraft, also known as passenger drones, or what some may call “flying cars.”
“The future of transportation is here within the next 10 to 15 years and urban aviation is closer to reality than you might expect. The flying vehicles will use airspace to alleviate transportation congestion and traffic on the ground for quicker daily commutes, and cleaner air around the world. These vehicles are more like a helicopter, but much quieter, run electronically and are environmentally friendly,” said developer Dan Kodsi. “Paramount Miami Worldcenter prides itself on its amenities and high-tech features. While the industry still has many regulatory hurdles to clear, we are excited to be at the forefront of urban aviation with what can one day be the first residential Skyport in Miami.”
One day, Paramount Miami Worldcenter residents could seamlessly ride a sleek glass elevator up to the luxury tower’s private rooftop, where they could be picked up or dropped off by on-demand aircraft.
“Imagine traveling from Miami to Palm Beach—a drive that takes the better part of two hours— in about 30 minutes. That stop-and-go traffic to the suburbs could become a burden of the past for Paramount residents,” said Kodsi.
Ever since Uber Elevate announced it would begin testing its urban air taxis in Dallas-Fort Worth, Los Angeles and Dubai in 2020, a galactic style race erupted from tech, aircraft manufacturers and automakers both domestic and international to develop flying cars. Including the German developers of Volocopter and Lillium, Airbus’s Vahana, the Chinese developers of Ehang 184 and Terrafugia, Google’s Kitty Hawk Flyer and Workhorse Surefly.
Paramount – located inside the massive Miami Worldcenter project in the heart of downtown Miami – is more than 70 percent sold with $400 million in sales of their 500+ city- and bay-view residences. Units range in size from 1,180 to 2,350 square feet, with prices starting at $750,000. It has more than 50 nationalities represented among its buyer pool.
Construction crews from general contractor of record, CoastalTishman, have already reached the 47th floor of vertical construction. Paramount is on course for its top off in summer 2018, and building completion anticipated for spring 2019.
The only residential tower currently for sale within the massive 27-acre mixed-use Miami Worldcenter site, Paramount has made international headlines with its Upper Deck, which will debut as the largest amenity deck in the U.S., spanning 90 feet above downtown Miami featuring an extraordinary array of action-packed amenities that includes the country’s first outdoor soccer field to be featured in a high-rise residential development; two tennis courts; multiple resort-style pools; lush parks and spa baths among others.
Located in the heart of Miami’s downtown at the crossroads of culture, entertainment, art and fine dining, residents will enjoy an unparalleled location just an elevator ride away from Miami’s waterfront and most celebrated cultural and entertainment landmarks such as the Adrienne Arsht Center, Pérez Art Museum Miami, Phillip and Patricia Frost Museum of Science, and the American Airlines Arena. Also within Miami Worldcenter is the nearby proposed Marriott Marquis Miami Worldcenter Hotel and Expo and All Aboard Florida’s Miami Grand Central Station, which will allow residents direct service to Orlando in three hours, as well as connectivity to the Metro Mover and nearby Miami International Airport.
Daniel Kodsi is a real estate industry veteran with more than 25 years of experience developing a diversified portfolio of mixed-use, multi-family, condominium and planned single-family developments. With $2 billion in completed projects, he brings a proven track record of identifying underserved market opportunities, executing complex large-scale projects, and generating value for private and institutional investors. With 27 separate development projects completed and underway and more than 6,000 units successfully developed or repositioned, he is consistently credited for defining new neighborhoods with award-winning projects.
Miami Worldcenter Associates, led by Principals Art Falcone and Nitin Motwani, serves as the master developer for the mixed-use Miami Worldcenter project. With more than 35 years of experience, Falcone has been involved in purchasing, financing, developing and managing a wide range of real estate product types. Falcone serves as CEO of Encore Housing Opportunity Fund, which has raised more than $1 billion in equity, and is director of Rescore REIT, which has approximately $3 billion in development. Falcone also serves as CEO and Chairman of the Falcone Group, a vertically integrated real estate organization whose subsidiaries have developed billions of dollars of real estate across the country.
Motwani serves as Managing Director of Encore Housing Opportunity Fund, which currently has over $1 billion of planned investments in Florida, California, Texas, and Arizona. He previously served as President of Merrimac Ventures and as an equity derivatives trader at Goldman Sachs in New York.
In 2011, Miami Worldcenter Associates partnered with CIM Group, a Los Angeles-based real estate investment company that makes equity and debt investments in urban communities throughout North America.
About Miami Worldcenter
Occupying nearly 30 acres in the heart of downtown Miami, Miami Worldcenter is one of the largest private real estate developments underway in the United States. The ten-block project will include world-class retail, hospitality and residential uses in the center of Miami’s urban core. All told, the project is expected to account for $2 billion in new investment within downtown Miami. Learn more at Miami World Center.