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Indianapolis, IN, USA (HQ)

903 E. Ohio St., Indianapolis, IN 46202

Call: (317) 423-2325


World Trade Center Developer Financing Legacy Miami, First COVID-Conscious, Pandemic-Ready Skyscraper

MIAMI, FL — The developer of New York’s World Trade Center complex — Silverstein Capital Partners — is now financing construction of the world’s first COVID-Conscious designed and Pandemic Ready residential, hotel, and medical center skyscraper at the Miami Worldcenter project in downtown Miami. The 55-story, 671-foot-tall, half-billion-dollar Legacy Residences, Hotel, and Medical Tower at Miami Worldcenter is being built by the Miami-based Royal Palm Companies (RPC) development firm.

The $4-billion, 27-acre Miami Worldcenter is currently America’s largest urban core construction project and the nation’s second largest mixed-use real estate development. RPC says Legacy is being designed with the most-advanced germ-zapping technologies and will be the first all-in-one residential, hospitality, and health and well-being facility in the world, according to Royal Palm Companies CEO, Daniel Kodsi.

Whopping Loan: Funding in Florida
Royal Palm Companies has just closed on an unprecedented $340-million construction loan from New York City-based Silverstein Capital Partners for the building of the Legacy Tower. This is the third largest construction loan ever in the state of Florida, according to Royal Palm Companies.

This is the first time that Silverstein, best known for the redevelopment of the World Trade Center after the 9-11 terrorist attacks, has issued a loan in Florida, according to President Michael May. Silverstein has built scores of landmark projects across America.

“Legacy is a world class project that redefines wellness and hospitality,” May said. “This loan fits our firm’s strategy of writing large loans on complicated developments with creative financial structuring.”

Royal Palm Companies’ Kodsi said, “Silverstein’s projects transform neighborhoods. Issuing one of the largest loans in Miami history is reflective of the potential of this project.”

Adventist Health & Accor Hotels
The Legacy Tower is the result of a unique joint-venture involving California-based Adventist Health, a not-for-profit hospital and health care system; Blue Zones, a human longevity research organization; Accor Hotels, a hospitality company; and Miami-based Royal Palm Companies, a luxury real estate developer.
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Adventist Health operates more than 500 hospitals and health care facilities in California, Hawaii, Oregon, and Washington communities. This will be Adventist Health’s first venture on the eastern seaboard. Accor Hotels, based in France, operates 3,700 properties in 100 countries.

Legacy Tower Groundbreaking
Foundation construction is currently underway on the Legacy Tower. Concrete pouring and the start of vertical construction are expected during the first quarter of 2022.
The building is expected to be completed in early 2025.
Residential, Hotel, & Medical Center Tower
The Legacy Tower will feature 310 high-rise residences and 219 hotel rooms. The first 10 floors of the building will feature a $100-million, 120,000-square-foot, first-of-its-kind, health and well-being medical center.

Legacy will include on-site physicians, ventilators, pharmacy, diagnostic laboratory, imaging center, and other medical services never-before available in a residential environment.

Royal Palm Companies said Legacy will also be equipped with the latest coronavirus-disinfecting technologies, including hospital-grade ventilation systems, a fleet of Xenex LightStrike germ-zapping UV ray robots, facial recognition, and touchless entry devices; and high-tech water purifiers — all proven to help prevent the spread of viruses and other pathogens.

Miami Worldcenter has employed more than 15,000 new construction workers since its 2015 groundbreaking. An additional 2,500 workers will be involved in building Legacy, according to Kodsi.

In a public-private sector agreement, an estimated one-third of the Legacy construction workforce will be composed of unskilled residents of nearby Miami area neighborhoods with some of the nation’s highest unemployment rates.

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