The developers of the $4 billion Miami Worldcenter say that 124,000 sq. ft. of retail space on the 27-acre project remain under construction, with completion next year.

Other work underway includes a 351-room citizenM hotel, which is expected to open in the spring, plus several residential and mixed-use structures.

“As the largest private, urban development underway in Florida, Miami Worldcenter will feature a diverse mix of residential, commercial and hospitality uses complemented by a total of 300,000 sq. ft. of retail, restaurant, and entertainment space,” developers say in a March 16 statement.

The project is being developed by master developers Miami Worldcenter Associates, led by principal Art Falcone and managing partner Nitin Motwani, in partnership with CIM Group.

“Additionally, construction is now underway at New York-based developer Lalezarian’s 52-story Miami World Tower, which will comprise 550 multifamily apartment units; at Royal Palm Companies’ Legacy Hotel and Residences, a 50-story mixed-use tower with 310 branded residences atop a hotel and 50,000 sq. ft. of medical office space; and at the second phase of Caoba, which will encompass a 40-story tower with 420 multifamily apartments,” the developers said in the statement.

“Each development milestone is an important achievement for Miami Worldcenter and our development team,” said Shaul Kuba, co-founder and principal of CIM Group. “This is a dynamic, multifaceted project that benefits visually from a variety of architectural styles, interwoven streets, plazas and gathering spaces; creates a connected community and an engaging experience for all.”

Planned residential developments include Kenect, a hospitality-oriented apartment tower with 450 multifamily units by Chicago-based Akara Partners; and The Crosby, a 450-unit turn-key condominium by Related Group and Merrimac Ventures. The Witkoff Group is also planning a three-tower mixed-use project at Miami Worldcenter, which will include up to 2,000 residential units, 550,000 sq. ft. of office space and 50,000 sq. ft. of retail.

Complementing Miami Worldcenter’s open-air retail will be World Square, a 20,000-sq.-ft. public plaza and park, the developers say.