Lionheart Capital, Leviathan Development and Well Duo revealed plans for their Miami Design District project, which will mark the first mixed-use building in the U.S. designed by Japanese architect Kengo Kuma.
MIRAI Design District, a planned 57,500-square-foot development, calls for 17 modular retail spaces totaling 15,500 square feet on the first floor, and 41,000 square feet of office space on the second and third floors, according to a press release.
Lionheart, led by Ophir Sternberg, acquired the remaining interest in the property at 4218 Northeast Second Avenue in October for $5.5 million. The building is home to Lionheart’s headquarters.
The development site includes that property, as well as 4200 and 4240 Northeast Second Avenue. Miami Design District Associates, which consists of Craig Robins’ Dacra, L Catterton Real Estate and Brookfield Properties, sold the latter two lots to Lionheart Capital, Leviathan Development and Well Duo in September for $20 million.
Kuma’s firm, Kengo Kuma and Associates, is also designing the luxury condominium tower Aman Residences, an 18-story building under construction in the Faena District in Miami Beach. Vlad Doronin’s OKO Group is developing the building with investor Len Blavatnik of Access Industries. Kuma’s firm has designed other buildings in the U.S., but the Design District project is the first mixed-use development.
Construction of the MIRAI is set to begin next summer and be completed by the end of 2025, according to the release. Nathan Browning’s Island Planning Corporation is designing the landscaping. The building will include a green roof with solar panels.
The developers declined to provide office and retail leasing rates.
Leviathan Development is an investment vehicle for Lionheart’s partner and director of development, Allison Greenfield. Well Duo is led by Venezuelan developers Eduardo Pelaez and Alvaro Cardenas. Sternberg parted ways with his former business partner, Ricardo Dunin, in 2020, and Dunin sold his stake in the company’s Design District property through the October sale.
The Miami Design District is home to dozens of high-end designer stores and restaurants. Robins has led the transformation of the neighborhood over the last decade-plus.
His Miami Design District Associates plans a 15-story Class A office building called the Ursa at 30 Northeast 39th Street.
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