MIAMI, FL – Magic City Innovation District's development team announces the first group of tenants set to move into Little Haiti neighborhood of Miami, FL. Five businesses have signed long-term leases, covering 18,650 square feet of the previously dilapidated commercial space.
Magic City Innovation District plans to revitalize the vacant 18-acres of property in the neighborhood, creating a walkable, urban, campus-like area of innovation, technology, entrepreneurship, sustainability, arts and culture. The district's development team aims to create a destination for locals and visitors, while preserving the community's authentic cultural identity.
The development team has been working with city officials and locals to shape the district's future. The team has been actively renovating vacant factories, warehouses and buildings into unique, leasable mixed-use spaces, intended for offices, galleries, ateliers, restaurants, retailers, cafes, and pop-up shops. $12 million has been invested in rehabbing the existing buildings in the underutilized area so far.
Committed to providing an ecosystem of curated businesses, creators and educators that understand the vision of the neighborhood, the team looks to create a city within a city, providing a model for innovative districts and real estate development.
The tenants of the neighborhood are expected to bring hundreds of new jobs to the area, as the first five tenants display a wide range of opportunity for the area's growth.
The first of the tenants is Diana Lowenstein Gallery, looking to showcase paintings, photography, sculptures, video installations and commission work from various artists on site at 320 NE 61st Street. The technology company, OnPoint Global, an online publisher and service-based E-commerce provider will be leasing space at 6300 NE Fourth Avenue. Manmar Entertainment is moving to 320 NE 61st Street to provide full-service marketing and strategic consulting, Ecovie, a water management solutions start-up will be located at 6210 NE Fourth Court, and COOL Creative will be a 300 NE 62nd Street as a boutique creative services agency.
The development team is receiving increasing traction from tenants and businesses, with nearly all adaptive reuse buildings completed.
The Miami Commission granted initial approval in March with a 4-0 vote to the Magic City Innovation District's plan. The team now awaits the final City of Miami vote, currently seeking approval for 7.8 million square feet of mixed use developments. This space will be utilized by 2,630 residential units, 432 hotel rooms, 2 million square feet of office space, 350,000 square feet of retail space and four acres of open public space.
Magic City Innovation District will work with local entrepreneurs to help grow businesses and provide historic communities benefits packages totaling $31 million in payments made to the Little Haiti Revitalization Trust.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
