Miami Arts and Entertainment District

Contact An Agent

Miami  Arts and Entertainment District connecting the Wynwood Arts District and Design District to Downtown Miami is now emerging. 

Located, just south of Edgewater, it is bound roughly by North 24th Street, I-395 to the south, by the Florida East Coast Railway, North East Second Avenue to the west, and Biscayne Bay to the east. Developers see a rebirth for this area

When the Genting group announced their land acquisitions in the Miami Arts and Entertainment District in 2011 the hype began and prices began to rise. The only residential building West of NE 2nd Ave and 17th Street was Park Lofts, with the current Filling Station Lofts being an abandoned building not finished that sat there for several years until purchased by Nir Shoshani and Ron Gottesman. The purchase, made public three years ago for $ 9.2 Million, the project was completed and are now renting for $ 2400+ sizes ranging from 900 – 1400 square feet lofts. They are amazing spaces with the 9th floor units consisting of a spacious balcony plus a deck opposite side of the unit. 

With the rebirth of this area, many developers have acquired their space. Many believe that condos and rentals in the area will be more affordable than Downtown Miami and Brickell but comfortable to draw second home buyers and locals. The neighborhood is steps away from the metromover, which makes it attractive to locals as well as near to the new emerging Wynwood Arts District! 

One developer that is already setting the trend is NR Investments who’s pre-construction development “Canvas” is already selling well and at attractive prices. Located on NE 2nd Ave and 17th street, this project will consist of 37-stories, 513 units at an average of $ 450 per square feet. Units range from 620 sqft studios to 1110 sqft two bedrooms/two baths units. Amenities feature city bay view lounge, signature dining, pools, racquetball courts, gym, spa and much more. The team includes CFE Architects known for their work at Grove Isles amongst others and Roman Jones of the Opium Group taking care of the dining and entertainment.

Canvas1

The 7 acre parcel of land across from Canvas, was purchased by a company with ties to Richard Meruelo at a price of $64M. The site was previously proposed for a four story tower with 653 square feet of retail, 24 loft residences, and 2,360 parking spaces but it’s unclear if the new owners will continue with the approved plans. Just south of Canvas, Gloria and Emilio Estefan are planning a mixed used tower. The Related Group purchased 1400 Biscayne Center for $57.3M and also own with affiliate CMC Group the property next to the Checkers drive through. Both Related and CMC Group are established developers widely known for their projects. CMC Group headed by Ugo Colombo known for projects such as Bristol Towers and Santa Maria in Brickell, Epic in Downtown Miami, and now the anticipated Flat Iron in Brickell. 

This area just like Wynwood was deserted for decades, with only warehouses or abandoned buildings in site. Now everyone wants a piece of it. Wynwood has grown immensely in the last couple of years, streets are busy and people are seen enjoying their coffees or meals outside wonderful establishments. The Arts and Entertainment District will soon be the same, this is the area to keep an eye on next! 

I’ve lived in Miami all my life. I first stood in the Freedom Tower in 1971! I drove around the Wynwood and Downtown Miami areas frequently and it’s amazing what it has become. I love this town and I look forward to seeing it continue to develop. 

Call me for more information 305-951-3588

 

 

concept

realtor

Powered by FUNCSHUN DESIGN