“South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics.
Summer is typically the slowest time for local sports, with just one of the area’s big league teams actively competing, and the Miami Marlins once again experiencing a “rebuilding” season. But a flurry of dramatic headlines about current and future venues have underscored the brilliant diversity of our region’s sporting identity, with major projects designed for a wide range of professional, amateur and aspiring athletes. We explore the investments fueling this dynamic sports building boom in this edition of “South Florida by the numbers.”
80
Number of years in a ground lease recently finalized in Homestead to establish a $275 million sports-themed mixed-use project. The Sports Performance Hub of Miami-Dade, a complex consisting of a 10,000-seat multipurpose stadium, hotel, sports academy and new public park with pickleball, tennis and basketball courts is the brainchild of a Latin American consortium that includes numerous former athletes, including NBA Hall of Famer Manu Ginobili. Soccer team Miami FC would play its home games in the planned stadium, which is expected to be completed in 2030. [TheRealDeal]
Three
Number of local baseball facilities slated for more than $2 million in upgrades approved by the city of Miami. The bulk of the funding will go toward restoring the historic Roberto Clemente Park in Wynwood, with additional subsidies set to restore a mural at Dorsey Park in Overtown that was recently defaced with racist and antisemitic graffiti. Funding will also go to support the development of a new baseball park under construction in Little Havana near loanDepot Park. [MiamiToday]
$450 million
Loan amount secured by billionaire Jorge Mas, David Beckham and Ares Management for the development of Miami’s $1 billion Freedom Park soccer stadium, obtained from JPMorgan Chase Bank. The massive mixed-use project (to be anchored by a new 25,000-seat home for the Inter Miami futbol club) will also include a 750-room hotel, 400,000 square feet of offices geared to tech companies and 600,000 square feet of retail and restaurant space when fully built. [TheRealDeal]
14
Total number of padel courts at Ultra Club Midtown, a two-acre development that will be the country’s largest padel club when it opens in Miami in December. A partnership between Ultra Padel, Rosso Development and Midtown Development, the facility will include 11 outdoor courts, three children’s courts, food and beverage options and community programming. [Axios]
$30 million
Cost to construct The Fort, a new 10-acre pickleball facility adjacent to Snyder Park in Fort Lauderdale. The popular venue has 43 courts (including 14 covered courts), the world’s first dedicated pickleball stadium, a lakeside restaurant, recovery center, locker rooms, dart room, padel courts, and rooms for bocce, cornhole, beach volleyball and musical concerts. [MiamiHerald]
This column is produced by the Master Brokers Forum, a network of South Florida’s elite real estate professionals where membership is by invitation only and based on outstanding production, as well as ethical and professional behavior.