A 15-acre site in Little Haiti will be the future location for the proposed Magic City "Innovation District." The project will be a live, work and play style community for "innovators" and entrepreneurs with a walkable "campus-style" neighborhood targeted at attracting retailers and technology companies. The $1 billion project will be initially be self-funded and will be developed over several years and multiple phases. The first phase will include renovating and repurposing an exisiting dilapidated factory on the lot. The existing 170,000 SF of industrial space will be converted to commercial and retail. The Magic City proposal also includes and office tower, amphitheater and residential apartments. Tenants are slated to include The Salty Donut. Magic City is be a collaboration between investment powerhouse Dragon Global and real estate developers Metro 1.