The new development will include both market-rate and workforce housing apartments, along with parking facilities for residents and visitors.
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The Magic City Innovation District Special Area Plan was submitted to the city of Miami for review last month.
According to the documents, the developers are proposing to build:
- 2,490 residential units
- 1,763,820 office square feet (net)
- 432 hotel rooms
- 313,165 retail square feet (net)
- 5,547 parking spaces in garages
In total, 17 buildings with the tallest at 27 stories are planned. Completion of the entire conccpt will take 10-15 years, with construction to begin in 2020, according to the project website (although existing buildings will be rehabilitated before then).
In a letter, the developer says they intend to build a Transit Oriented Development, with a stop to be built on the Brightline/Tri-Rail Coastal Link track.
Cirque Du Soleil Billionaire Guy Laliberté is listed as having a stake on an ownership statement submitted with the proposal.
Arquitectonica is the architect.
Source: The Next Miami