Miami-Dade OKs Overtown redevelopment

Oct.October 23, 2013 01:00 PM

Miami-Dade County commissioners gave the go-ahead yesterday to prominent developer R. Donahue Peebles and Peebles Corp. executive Barron Channer’s plan to redevelop commercial properties in the impoverished, largely black section of Overtown in Miami.

Each team will take one block south of the Lyric Theater, where several redevelopment efforts have failed in the past. Plans call for a hotel, parking, retail and a residential component that will include 60 affordable housing units, the South Florida Business Journal reported. The developers would pay a total of $5.5 million for the land and a total of $1.25 million into a benefits fund to better the community.

The theater, which was restored in 2000, had been the main venue for musicians Ella Fitzgerald, Patti LaBelle and Sam Cooke.

The Southeast Overtown/Park West Community Redevelopment Agency approved the project last month. Peebles and Channer requested 36 months to finish the project after they break ground. [South Florida Business Journal]Mark Maurer

Related Articles


Minority real estate professionals still fight racial and gender barriers: TRD Miami Showcase & Forum

Marcus Samuelsson and exterior shot of Red Rooster construction (Credit: Getty Images)

Marcus Samuelsson’s Red Rooster Overtown restaurant is almost ready

Michael Tillman and Soleste Grand Central

Overtown Opportunity Zone project snags $55M loan

Alfonso Jaramillo, Arthur Porosoff, and an aerial view of the property (Credit: Google Maps)

Developer closes on land assemblage for big resi complex near Miami’s Overtown

David Beckham, Jorge Mas and a rendering of the Overtown stadium

David Beckham, partners to close on county site in Overtown after all

Beckham group faces deadline to keep Overtown stadium site under contract

L-R: Stefano Garofoli, Costantino Cicchelli and Frank Rodriguez Melo and a photo of 419-429 Northwest Eighth Street (Credit: BrickOne Group and Google Maps)

Miami investors buy apartments in Overtown Opportunity Zone

Here are South Florida’s five largest multifamily deals in March