Celebrity developer Zach Vella has acquired two adjacent waterfront development lots on Miami’s Venetian Islands for his private residence in Miami. Vella paid $15.2 million for 228 and 302 West Dilido Drive, a dirt value of $688 per square foot, which surpasses the Venetian Islands’ record land sale which was previously $6.5 million for 412 West Dilido Drive set in 2016.
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Magic City Innovation District Set To Transform Little Haiti After Receiving Final Approval
Magic City Innovation District (MCID), a 17.7-acre Innovation District in Miami’s Little Haiti and Little River neighborhoods, has received a unanimous final approval from the Miami City Commission. MCID spans 6 city blocks and intends to redevelop the Little Haiti and Little River neighborhoods to create a walkable, campus-like neighborhood where individuals from all demographic backgrounds can enjoy a high-quality live, work, play lifestyle. With an emphasis on technology, sustainability, health and wellness and art and entertainment, MCID will contribute to the economic vitality of the area and enhance the appeal of the community.
Renovations and construction commenced in August 2018 on 17 of MCID’s 21 commercial buildings. The project's first phase of commercial development features 200,000 SF of leasable space spread through several modernized warehouses. Designs for the commercial spaces, which range from 300 to 14,000 SF, are spearheaded by a variety of local design firms, including McKENZIE and ELM Architects. MCID anticipates being ready to receive office, retail and other commercial tenants as early as September 2018. Metro 1 is overseeing lleasing efforts for the 17 spaces, geared toward creative-style tenants that align and shape MCID’s atmosphere and further promote foot and auto traffic throughout the neighborhood. The developers will also contribute $31 million to the Little Haiti Revitalization Trust which will be overseen by the city
When complete, the Magic City Innovation District Will feature 3.8 acres of public civic space, 2.18 acres of landscaped pedestrian promenade dubbed the Promenade du Grand Bois, 2,630 residential units, 1,987,686 SF of office, 101,669 SF of expo space, 432 hotel rooms, 344,538 SF of retail, and 6,081 parking spaces. The first 4 tenants to commit to MCID were revealed in Sprinf 2019 including Diana Lowenstein Gallery, Manmar Entertainment (marketing), Ecovie (recycling start-up), and COOL Creative (advertising).
Construction Underway On Magic City Innovation District As Leasing Of Commercial Space Kicks Off
Magic City Innovation District (MCID), a 17.7-acre Innovation District in Miami’s Little Haiti and Little River neighborhoods, has commenced renovations on 17 of its 21 commercial buildings. The project's first phase of commercial development features 200,000 SF of leasable space spread through several modernized warehouses.
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Cirque du Soleil Founder Guy Laliberte Joins The $1 Billion Magic City Innovation District Project Coming To Little Haiti
Tony Cho, Bob Zangrillo and Plaza Equity Partners have announced that Guy Laliberte's Lune Rouge has joined as an arts and entertainment partner on the $1 billion Magic City Innovation District project in Little Haiti. Guy Laliberte, who will join as creative director, is the founder of Cirque du Soleil.
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