David Beckham to pay $9M for final piece of stadium development site in Overtown

Beckham group paid $19M for 6 privately owned acres next to the county land last year

TRD MIAMI /
May.May 09, 2017 04:00 PM

Miami’s Major League Soccer stadium may finally become a reality. 

David Beckham is ready to close on the 3 acres of Miami-Dade County-owned land needed to build the stadium, and he now has an investor to pay for it, the Miami Herald reported. While the county has been ready to negotiate a deal for the Overtown land, Beckham held off, until Los Angeles Dodgers owner Todd Boehly came on board to help back the stadium.

The Miami-Dade County Commission could vote on the deal during next week’s meeting, according to the Herald. Commissioner Audrey Edmonson, whose district includes the site, told the newspaper she isn’t ready to support the sale, which could delay the entire process. The city of Miami would also have to approve zoning changes to allow for the stadium.

Beckham’s group would pay the appraised value of $9 million for the land, which is being used as a county bus depot. It’s the missing piece for the soccer star, who first announced he was planning to build an MLS stadium in Miami in 2014. After sites at PortMiami and other locations in Miami failed to gain traction, Beckham moved onto Overtown for the proposed $150 million, 25,000-seat stadium.

Last year, Miami Beckham United paid $19 million for 6 privately owned acres next to the county’s 3 acres.

The proposed stadium has helped spur investment in Overtown, where land prices have surged in recent years and months. An example of that is the $6.7 million sale of a 47,000-square-foot plot across the street from the stadium site last year. [Miami Herald] – Katherine Kallergis


Related Articles

arrow_forward_ios
Jon Beason, Ozuna and 3812 Park Avenue (Getty, Engel & Voelkers Coconut Grove)

Reggaeton artist Ozuna drops $5M on Coconut Grove house

Reggaeton artist Ozuna drops $5M on Coconut Grove house
(iStock)

Bargain shopping: Here’s where resi prices fell the most in Miami in Q2

Bargain shopping: Here’s where resi prices fell the most in Miami in Q2
Seth Cohen and Phil Gutman

Brown Harris Stevens Miami launches sports and entertainment division

Brown Harris Stevens Miami launches sports and entertainment division
Bon Jovi and 1075 North Ocean Boulevard (Getty, Realtor)

Bon Jovi pays $43M for oceanfront Palm Beach estate

Bon Jovi pays $43M for oceanfront Palm Beach estate
Jon Bon Jovi and 230 North Ocean Boulevard (Credit: RE/MAX and Theo Wargo/Getty Images)

Jon Bon Jovi sells oceanfront Palm Beach house

Jon Bon Jovi sells oceanfront Palm Beach house
Major key: DJ Khaled sells waterfront Aventura home for 40% discount

Major key: DJ Khaled sells waterfront Aventura home for 40% discount

Major key: DJ Khaled sells waterfront Aventura home for 40% discount
Marcelo Claure, Masa Son, David Beckham and Jorge Mas with a rendering of the Miami Freedom Park (Credit: Getty Images, Arquitectonica)

Beckham soccer stadium complex developers propose major rezoning

Beckham soccer stadium complex developers propose major rezoning
Four Seasons Residences at The Surf Club with Tommy and Thalía Mottola (Credit: Craig Barritt/Getty Images)

Thalía and Tommy Mottola pay $8M for Surf Club Four Seasons condo

Thalía and Tommy Mottola pay $8M for Surf Club Four Seasons condo
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...