Renderings revealed: First phase of the Magic City Innovation District & more

Renderings also for new Bleau Bar at Fontainebleau Miami Beach and Celino South Beach

Jul.July 17, 2018 11:30 AM

Magic City Innovation District

The first phase of the Magic City Innovation District is underway and is expected to be turned over to tenants as early as September, according to developer Tony Cho.

The first phase of the 17.7-acre development calls for gut-renovating the majority of the 21 existing commercial buildings in the Little Haiti and Little River neighborhoods of Miami. Spaces will range from 300 square feet to 14,000 square feet, and commercial rents will average about $25 per square foot, triple net, Cho, founder and CEO of Metro 1, said.

Metro 1’s Andres Nava is in talks with food and beverage operators, flex office, retail and other commercial tenants.

The mixed-use technology and culture-driven development could eventually include a Magic City Studios, an innovation center with startups, co-working space and other collaborations; an office tower; retail space; workforce housing and possibly a hotel. It’s planned for land between Northeast 60th and 64th streets and from Northeast Second Avenue to the railroad tracks.

The development group also includes Cirque de Soleil founder Guy Laliberté, venture capitalist Bob Zangrillo, and Plaza Equity Partners, led by Neil Fairman, Anthony Burns and George Helmstetter.

The next phase, which calls for ground-up construction, is expected to begin sometime next year. The development group has invested $10 million into the project so far, including land improvements for a park and renovations for its commercial buildings.

New Bleau Fontainebleau

Fontainebleau Miami Beach wants to redesign its Bleau Bar lobby and bar area, according an application approved by the city’s historic preservation board last week.

Renderings reveal that architecture and interior design firm Rockwell Group and Norberto Rosenstein will revamp the resort’s sunken bar and lobby area by adding more seats and updating its current round bar design. Additional redesigns include removing the existing blue glass flooring and replacing it with a new terrazzo-patterned floor, as well as introducing new decorative screens around its perimeter.

The 1,504-room resort at at 4441 Collins Avenue opened in 1954 and went through a $1 billion renovation a decade ago. The Fontainebleau Miami Beach is owned by Aventura-based Turnberry Associates, which also co-owns Aventura Mall and is also developing SoLe Mia, a major $4 billion project in North Miami.

Celino South Beach

Ricardo Tabet’s Optimum Development USA just released new renderings for its four-building Celino South Beach resort on Ocean Drive.

When complete, the project will feature 132 rooms, 33 suites, three restaurants and bars and two pools, including one on its roof. Highgate will manage the hotel and Toronto-based Ink Entertainment will run the food and beverage operations.

The developer paid a combined $51 million for the former Park Central Hotel in 2013, and recently secured $52 million in refinancing for its renovation and expansion. The property includes nearly 300 feet of frontage on the touristy street.

Related Articles

Z Ocean Hotel

Developers misrepresented Z Ocean Hotel’s dire finances: judge

Franco Bianchi and Eighty Seven Park  

Furniture exec moves into condo at Eighty Seven Park for $7M

4424 North Bay Road, and from right: Neil and Jennifer Sazant, Lindsay McMinn and Karen Stauber (Credit: Getty Images)

Waterfront lot on North Bay Road sells for $7M

Michael Comras and 1500 Washington Avenue (Credit: Google Maps)

Comras looks to sell Five Guys property on Washington Ave

Jeffrey Dagowitz, Ophir Sternberg and 100 21st Street (Credit: Getty Images, Google Maps)

Lionheart and Jeffrey Dagowitz sell Seagull Hotel Miami Beach for $120M

Multiplan launches sales of boutique luxury condo project on Ocean Drive

Multiplan launches sales of boutique luxury condo project on Ocean Drive

Thomas Conway and clockwise from top left: 2901 N. Dixie Hwy., 9500 S.W. 180th St., 8610 S.W. 107th Ave. and 8038 N.E. 2nd Ave. (Credit: Google Maps)

BellSouth sells 1M square feet of land for $25M

Robert Zangrillo and a rendering of the Magic City Innovation District (Credit: Wikipedia)

Developer Bob Zangrillo faces new charges for website scams