Adam Neumann’s real estate startup Flow Global is reportedly planning on building $300 million in Miami developments amid its attempts to gain control of WeWork.
Flow’s Miami blueprints include rental apartments, retail space and small offices in what was once considered a tent city for the homeless, according to a preliminary document filed March 11 on MuniOS, an online repository for municipal offerings, obtained by Bloomberg.
A spokesperson for Flow confirmed the venture to Bloomberg as part of the Miami Worldcenter, an urban mixed-use redevelopment project that spans 20-plus acres, multiple city blocks and several developers.
The office and retail space is expected to be completed by 2025, and the developer is “in the process of submitting an application to obtain site plan approval for its current development plan,” the court document says, per Bloomberg.
The projects associated with Miami Worldcenter – which is raising some $240 million through a municipal bond sale — are being developed by 166 2nd Financial Services, the family office of Neumann and his wife, according to the 800-page filing on Municipal Bond Offerings service MuniOS.