Real estate startup Flow Global, which was founded by the controversial Israeli-American businessman Adam Neumann who is best known for co-founding WeWork in 2010, is working on a $300 million Miami project. According to a report in Bloomberg, the firm is planning to take part in Miami Worldcenter, an urban mixed-use redevelopment project that will cover more than 20 acres of land.
The new development will renew an area in Miami that was once known as a tent city.
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In 2022, Andreessen Horowitz invested $350 million in Flow Global.
Flow sounds a lot like WeWork. The new startup boasts that it plans to “revolutionize” the residential rental real estate market. It will apparently do so using the many properties that Adam Neumann acquired in recent years.
Miami Worldcenter is one of the largest mixed-use developments in the United States and is expected to have a major impact on the city of Miami. It will create thousands of jobs, add new housing options, and boost the city’s economy.
Miami Worldcenter is a massive mixed-use development under construction in Miami, Florida. It spans several blocks in the Park West neighborhood, just north of downtown Miami. The project is being developed by The Related Companies and Magellan Development Group.
There will be multiple residential towers, offering a variety of housing options from apartments to condos. Some of the completed towers include Paramount Miami Worldcenter, Caoba, and Bezel. The development will include over 300,000 square feet of retail space, including stores, restaurants, and entertainment venues. There will also be over 600,000 square feet of office space, catering to businesses of all sizes.
A55-story building will house a large convention center and an 1,800-room hotel. The development will also include over 100,000 square feet of public green space, providing residents and visitors with a place to relax and enjoy the outdoors.
In 2019, Neumann was forced out of WeWork, the company which he founded in 2010. After a meteoric rise, the entrepreneur was brought down after allegations of serious drug use and sexual improprieties were made. WeWork was forced to deal with sexual harassment suits. It delayed its planned IPO and laid off many workers.
But Adam Neumann reportedly walked away with a $1.7 billion deal. And so he used this money to acquire real estate and invest in a few new ventures.
