South Florida real estate projects in the pipeline for the week of Jan. 19 – South Florida Business Journal
Magic City Innovation District aims to attract entertainment technology firms
The Magic City Innovation District could transform a 17-acre section of Miami’s Little Haiti into a hub for entertainment technology, shopping and new residents.
Developers plan to spend $1.36 billion on the project at 6300 N.E. Fourth Ave. under a proposed special area plan. The team is a partnership between Canadian billionaire Guy Laliberté, the founder and creative force behind Cirque du Soleil; Tony Cho of Miami brokerage and development firm Metro 1; Bob Zangrillo of Miami venture capital firm Dragon Global; and Miami-based Plaza Equity Partners.
The Magic City Innovation District would have 2,490 apartments, up to 432 hotel rooms, 1.76 million square feet of office space, 313,000 square feet of retail space, and 5,547 parking spaces. The office space would include a performance auditorium for Lune Rouge. Neil Fairman, of Plaza Equity Partners, said the tallest residential building would be 27 stories.
“There is no real center in the U.S. today for high-tech entertainment, virtual reality and augmented reality,” Fairman said. “We hope we can make Miami the center of this particular industry.”
Cummings seeks apartment project in West Palm Beach
Developers Peter Cummings and Julie F. Cummings want to build apartments on an industrial site near the train tracks in West Palm Beach.
They have the property at 1630, 1710, 1940 and 1980 Clare Ave. under contract from Murphy Construction Co. and Jamco. The project would have 173 residential units, 3,706 square feet of retail and restaurants and a 290-space parking garage.
Apartments planned in Fort Lauderdale
Pinnacle Housing Group wants to build the Bimini Cove apartments in Fort Lauderdale.
The developer has the 2.8-acre site at 2281 State Road 84 under contract from Marina 84 Holding Co. The 8-story building would have 126 apartments, 1,200 square feet of commercial space, and 239 parking spaces.
Shuttered White House Inn could be replace by condo
The shuttered White House Inn along Biscayne Bay in North Miami could be demolished to make way for a new luxury condominium tower.
MAR 2305 123rd Street, managed by Brickell Motors President Mario Murgado, wants to replace the hotel with an 11-story, 52-unit condominium called Biscayne Harbour Residences. Located along Biscayne Bay at 2305 N.E. 123rd St., the project would have an average unit size of 2,328 square feet, plus a pool deck and a six-slip marina.
Altman proposes mixed-use project in Miramar
Altman Cos. wants to build apartment and retail in Miramar.
The developer has the 42-acre site at the northwest corner of Miramar Parkway and Red Road under contract from Cleghorn Shoe Corp. It has proposed 650 apartments and 50,000 square feet of commercial space.
Apartments planned on Flagler Street
Romagna Mia Realties wants to build the Flagler Apartments at 2828 W. Flagler St. in Miami.
The 12-story building would have 208 apartments, 2,400 square feet of commercial space and 332 parking spaces. The existing commercial buildings would be demolished.
Pompano Beach site could become condo
A 99-unit condo has been proposed near the Palm Aire Country Club in Pompano Beach.
Alltech Group Parcel 1 wants to build the 7-story condo at 2606 Palm Aire Drive. The site previously had the country club’s pool and tennis courts.
Commercial Real Estate Developers
Ranked by New square feet developed 2016
Rank Company New square feet developed 2016 1 Swire Properties 1.96 million 2 Boca Developers 1.22 million 3 The Related Group 935,000 View This List