Moishe Mana continues his commitment to developing the Wynwood neighborhood and helping make Miami a global business hub. The developer has unveiled plans to build the Americas-Asia Trade Center & International Financial Center (TCIFC) at his Wynwood development site. Phase 1 of the project will include developing 4.68 million SF over the 8.5 acre site including 1 million SF of "Class A" office space, 75,000 SF of retail and restaurants, a 400-room hotel and 90,000 SF of public space including landscaped parks, gardens and walkways. Groundbreaking is expected in 2018.
Mana to Bring New Mixed-Use Tower Including Hotel to Downtown
Moishe Mana has made a deal with the City of Miami to construct a mixed-use tower at his 240 N Miami Avenue Downtown site. The deal will allow him to use a section of the much larger Miami Parking Authority property adjacent to his 14,000 SF. The MPA had originally given the rights to the land to Grand Station, who subsequently subleased the rights to Mana. Mana's proposal will be a mixed use building including a 150-room hotel office space, residential units, retail space.
Photo via Haaretz.com
Mana Fights Back Against Wynwood Business Improvement District Allegations
Mana fought back against the Wynwood Business Improvement District over allegations that they were cutting close to $30 million in public benefits from their Wynwood project. They saw they will still provide $45 million of public benefits with few changes to their original proposal. They were cutting a $10 million cash payment to the commission that was in exchange for a height increase to 24 stories. They will still provide $7.5 million to the Overtown CRA and $2.5 million to the commission. They also fought back about claims that they would be changing the phases of the project and were sticking to their original plan.
Public Benefits As Per Mana:
The Mana Wynwood SAP will grow the arts and design community while preserving the community’s unique character. Beyond residences and commercial buildings, the Mana Wynwood SAP includes more than $45 million in public benefits to the Wynwood neighborhood and surrounding communities. The breakdown of public benefits and contributions includes nearly $7 million to the Overtown CRA, $5.5 million annually to the Omni CRA through tax increment funds, and $35 million to the Wynwood community — including $2.5 million in cash for bonus height to the Wynwood BID.
Benefits to the Wynwood community include:
- Nearly 2.5 acres of centralized, public open space — the Mana Commons.
- A unified and vibrant streetscape for an enhanced pedestrian experience within the SAP and bordering streets.
- Extensive road improvements, including drainage and road rehabilitation.
- A newly constructed fire station and rescue facility for the City of Miami.
- Renovated and upgraded infrastructure serving the SAP Area and Wynwood, including drainage, sewer, fire services, and water mains.
- Underground or relocated overhead FP&L power lines.
- A public transit stop, which will contain bicycle racks.