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Abbhi Capital propose a 2 million-square-foot mixed-use development in Miami Worldcenter

Updated: Sep 25, 2023

Abbhi Capital has unveiled plans for a 2 million-square-foot mixed-use development within Miami Worldcenter, featuring the district's first significant new office building. The proposal will come before the city's Urban Design Review Board on September 20 for consideration. SanaProperty8LLC, a subsidiary of Abbhi Capital headed by Sankesh Abbhi, acquired the 2.18-acre site at 1001 N.E. First Ave for an aggregate $44 million in 2020 and 2021.

Abbhi Capital propose 2 million square-foot mixed-use development in Miami Worldcenter, 59-story residential and 33-story office tower

The envisioned project encompasses a 59-story residential tower and a 33-story office tower, both connected by a podium housing a parking garage. The comprehensive design includes 558 residential units, 368,362 square feet of leasable office space, 7,109 square feet for retail and restaurant establishments, and a total of 1,319 parking spaces.

Amenities are slated to feature prominently in the development. A 12th-floor amenity deck would offer a pool, jacuzzi, pickleball courts, a fitness center, coworking spaces, a media room, and a dog grooming station. An additional amenity center is planned for the 54th floor of the residential tower.

Residential units are designed to begin from the second floor, aligned with the parking garage. The majority of the units will range from 570-square-foot studios to three-bedroom units measuring 1,562 square feet. The upper levels are reserved for 12 penthouses, varying in size from 2,675 to 3,625 square feet.

Legal representation for Abbhi Capital, attorney Brian Dombrowski, was unavailable for comment. The project's architectural design is credited to Miami-based firm Arquitectonica.

Located on 27 acres, Miami Worldcenter is among the largest mixed-use initiatives in the U.S., featuring existing apartments, condos, and a hotel. The complex's 350,000 square feet of retail space is nearing full occupancy, rejuvenating the previously underdeveloped Overtown Southeast area. Additionally, the site's proximity to the Brightline passenger rail station and Interstate 395 adds to its accessibility.

Interestingly, this marks the first office building proposal for Miami Worldcenter since Hines considered a similar project three years ago. While Hines' plans remain on hold, Abbhi Capital seems poised to attract office tenants to the evolving neighborhood.

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