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Magic City lands first tenants in Little Haiti
Five businesses have signed long-term leases totaling 18,650 sf
Magic City Innovation District in Little Haiti secured its first commercial tenants.
Five businesses, including an art gallery, a tech company and a marketing firm signed long-term leases totaling 18,650 square feet of commercial space in existing warehouses at the planned $1 billion mixed-use project, according to a release. The developers spent $12 million to renovate the buildings, according to a spokesperson.
The businesses are:
- Diana Lowenstein Gallery, which is moving from Wynwood to 320 Northeast 61st Street. It is leasing 3,400 square feet.
- OnPoint Global, a tech company, is leasing 12,000 square feet at 6300 Northeast Fourth Avenue.
- Manmar Entertainment, a marketing and consulting firm, is leasing 1,700 square feet at 320 Northeast 61st Street.
- Ecovie, a start-up that designs and delivers on-site water management solutions, is leasing 1,200 square feet at 6210 Northeast Fourth Court.
- COOL Creative, a boutique creative services agency, is leasing 350 square feet at 300 Northeast 62nd Street.
On March 29, the Miami City Commission gave initial approval to Magic City’s plan to build its project on 18 acres. Magic City is still waiting for the city of Miami to approve its bid to become a Special Area Plan (SAP).
Magic City Innovation District plans a 7.8 million-square-foot mixed-use development including 2,630 residential units, 432 hotel rooms, 2 million square feet of office space, 350,000 square feet of retail, and four acres of public open space, according to the release.
The project is being developed by Cirque du Soleil co-founder Guy Laliberte; Plaza Equity Partners, led by Neil Fairman; and Miami developer and real estate broker Tony Cho. Bob Zangrillo, previously a major investor in the Magic City Innovation District project, is no longer a involved in the project. In March, Zangrillo was charged with conspiracy to commit mail fraud and honest services mail fraud as part of college admissions scandal known as Varsity Blues.
According to the complaint, filed in the Southern District of Florida, Zangrillo paid off athletic department officials at the University of Southern California to designate his daughter as an athletic recruit, having someone take classes on her behalf.