The New Landlord of Parkwest
Under normal circumstances, Falcone’s plans for Parkwest would be astounding, but in Miami, normal circumstances are hard to come by. There are other projects that resemble Falcone’s vision for a city-within-a-city nearby: CitiSquare, Omni, and Midtown. In fact, his vision is simply the latest of Miami’s mega projects. This does not change the fact that his vision is unprecedented in scale and scope.
Since Lev Leviev and Shaya Boymelgreen acquired the Hank Sopher parcels beginning in 1999, they were the primary land owners in the area west of Bicentennial. Daniel Kodsi, around 2003 began his acquisition patterns in the area as well, and although busy developing Paramount Bay has yet to start Paramount Park. Today, the three real estate giants are no longer the landlords of Parkwest. The title is now Art Falcone’s. Let’s take a closer look at the area in question:
Map: The area highlighted in blue west of Bicentennial is where 85% of the Falcone acquisitions have taken place. North of the I-395 are two blue areas. The one south of 15th street is roughly the area allocated to Citi-Square, and the area north of it is the Omni. I have also repositioned the I-395 itself to illustrate, more or less, what the realignment of the over pass would look like. The current track of the I-395 is highlighted in green as the current FDOT plans call for the creation of park space along the current track once the project is completed.
With three mega-projects planned so near to one another, the prospects for the future of both Parkwest and the Media and Entertainment District are tantalizing big and forward-thinking. The trend seems to be the total overhauling of existing infrastructure in favor Miami 21 building guidelines; wider streets and avenues, new thoroughfares, more green space. The Falcone rendering even includes a rotunda and grand fountain on N.E. 1st Avenue.
Image: Rendering of the Parkwest plans from aerial vantage point
The plans seem to compliment the Parkwest’s newest towers well and are in the preliminary stages. However, with so many residential projects now stalled or canceled, it’s difficult for some to get enthusiastic about even this massive new development. If you have doubts about Falcone’s seriousness, then consider that other than strategically amassing this impressive Parkwest portfolio, in anticipation of executing to the best possible outcome, he and his team have traveled to
“Europe, China, Dubai, Japan, India and across South America and the United States for ideas. Favorites include Tokyo’s Roppongi Hills, Paris’ Champs Elysées, Dallas’ Victory Park and Rio de Janeiro.”
and are collaborating with the likes Zyscovich and Elkus Manfredi. It’s clear that Falcone recognizes the historic opportunity for development he has in Parkwest. His international visits tell me that he and his team have high urbanism standards and want to apply the best urbanism ideas to their plans for the Magic City. Being in the heart of the Core, whatever happens in Parkwest will surely spill over an effect the CBD and M&E. Although early in the planning stages, owners at Parkwest’s newest condos must be rejoicing at the thought of Falcone’s plans, and they certainly shouldn’t be alone.