Miami International Centre Development Site. The 20.9 net acre Site, fully entitled with FAA approval and an agreement in place with the Water and Sewer Department of Miami-Dade County, is generating revenue through leasing of the existing improvements.
It is situated at the region’s transportation crossroads adjacent to the Miami Intermodal Center, which links the Site to the Miami International Airport and combines major roadway improvements, a rental car center, the MIA mover, Tri-Rail, Amtrak, and potential future high-speed rail to function as a truly revolutionary groundtransportationhubforresidentcommutersandvisitors.
The largest parcel owned by one entity in Palmer Lake and one of the last remaining large-scale urban center development parcels in South Florida suitable for mixed-use projects blending any combination of multi-housing, hotel, retail, of ce, senior living, marina and more.
The Site is within a 220-acre special zoning district known as the Palmer Lake Metropolitan Urban Center.
The Site is comprised of two main parcels which are bisected by NW 21st street.
The Upland Parcel is approximately 15.5 acres and is currently improved with 6 industrial buildings totaling 360,000 SF. It was formerly the home of Miami’s famed television series Magic City.
The Marina Parcel is approximately 5.3 acres and is currently improved with marina/service facilities totaling 38,000 SF and incorporating 90 slips in the Marina. The Marina features covered slips and can accommodate larger boats than most other marinas in the vicinity.
Executive Summary
CONNECTIVITY
The Site’s central location has it situated adjacent to the Miami International Airport, and the Miami Intermodal Center, a massive ground transportation hub, as well as major roadways and alongside the Miami River.
The 20.9-acre Site, the largest in Palmer Lake, is situated in the heart of the newly created 220-acre Palmer Lake Metropolitan Urban Center zoning district. The PLMUC is the result of a multi-year design and architectural charrette envisioned to create a new urban node in the heart of Miami to the highest guidelines of urban planning. The mixed-use development will actively harness the immediate area’s strengths to promote the creation of a transit-oriented development characterized by its pedestrian-friendly nature and constructed with a focus on sustainability. The charrette-led approach to the development of this special zoning district has ensured that property and business owners as well as community stakeholders were all involved in the process, leading to the creation of a uni ed and agreed-upon zoning code.
Investment Highlights
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A BURGEONING MARKET
The Miami metro has experienced consistent growth in recent years. The Miami International Centre will continue this pattern of growth by drawing bene t from many of the same positive externalities that have manifested themselves in Doral.
DEVELOPMENT OPPORTUNITY
The 20.9-acre site features highly exible zoning with a wide variety of permitted uses. Additionally, there are currently ve leases at the Property with the ability to potentially lease-up additional vacant space.
Zoning
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