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| The Midtown
Miami Condominiums on Midtown Blvd in the Design DIstrict. |
Project details
Twenty blocks north of the Performing Arts Center is Midtown
Miami, the largest real estate project on the East Coast.
Miami-based Midtown Group plans to build approximately 3,000
condominiums, 140,000 square feet of commercial space, and
150,000 square feet of office space on the site. “This will
be like a city within a city,” says Michael Samuel, a Midtown
partner. “You will be able to walk downstairs for coffee or
a meal, with shopping, office space and a hotel within a few blocks.”
Midtown Group has reservations for all 339 units in its first residential
building. Two Midtown, and sales for its 379-unit
Four Midtown building are slated to begin in early
2005. Both buildings will have ground-floor retail. Another building,
Three Midtown, is in the design stage.
“We
have three top architects designing these buildings, and they will
look very different,” Samuel says. “When someone walks
down the street, the architecture and color schemes will change from
block to block.”
On half of the Midtown site, Developers Diversified Realty, will build
the Shops at Midtown Miami. The 600,000-square-foot
retail center will have up to 900 rental apartments on its 26-acre
parcel. Together, the total investment in Midtown Miami is expected
to top $1.2 billion during the next seven years.
Diversified Developers broke ground this summer on the combination
retail and garage structure that will be the first phase. “We
are projecting a fall 2006 opening of the stores,”
says Daniel M. Herman, the company’s director of development
for the eastern US. “While there are no announcements so far,
we are seeing strong interest among national regional and local tenants.”
The key elements of interest is the nearby neighborhood’s income
and population demographics — which will significantly rise
during the next few years as more upscale residents move into the
Biscayne corridor.
To continue your search, find nearby Miami
condos for sale.
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News
Midtown
Miami is Up For Sale
The owner is claiming that he wants to sell for tax reasons.
Soon
We'll Be Shopping at Midtown Miami Shops
The big-box retailers that are slated to open include Target,
Linens’N Things, Circuit City, PetSmart and West Elm store
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