Miami’s Design District is set to welcome a significant new landmark as MIRAI Design District has officially broken ground on its highly anticipated mixed-use development. The project has secured an $85 million construction loan from Monroe Capital LLC, marking a major step forward for this ambitious undertaking.
Key Takeaways
- MIRAI Design District has secured an $85 million construction loan from Monroe Capital LLC.
- The project marks the first U.S. mixed-use development designed by internationally acclaimed architect Kengo Kuma.
- It will feature approximately 41,000 square feet of Class A boutique office space and 16,000 square feet of luxury retail and hospitality space.
- Completion is anticipated in 2028.
A Visionary Development
Developed by a consortium including Leviathan Development, Lionheart Capital, Well Duo, and The Lane Organization, MIRAI Design District aims to redefine the urban experience in Miami. The development will introduce a substantial amount of Class A boutique office space alongside luxury high street retail and hospitality offerings. This project represents a significant milestone for Kengo Kuma, whose architectural philosophy emphasizes the harmonious integration of nature, culture, and design.
Ophir Sternberg, founder and CEO of Lionheart Capital, expressed his conviction in the project’s potential, stating, "We’ve spent years building our position along Northeast Second Avenue because we believed in what this corridor could become, and MIRAI is the clearest expression of that conviction." The securing of financing and the commencement of construction signify the transformation of this vision into reality.
Architectural Innovation and Experiential Design
Located along Northeast Second Avenue, MIRAI is designed to be an extension of the vibrant Design District, focusing on architectural excellence, enhanced hospitality, and walkability. The building’s design, conceptualized as a "floating lantern," features a transparent ground floor, a layered façade screening system, a central garden, and public spaces designed to foster an intimate and engaging atmosphere.
The boutique office component is specifically tailored to attract family offices, small to mid-sized funds, and design-focused businesses seeking unique and curated workspaces. The project’s leasing efforts are being managed in-house, reflecting strong demand and the development’s distinct vision.
Allison Greenfield, founder and managing partner of Leviathan Development, highlighted the project’s experiential nature: "MIRAI was conceived as something far more experiential than a traditional mixed-use project. The goal was to create an environment where architecture, hospitality, retail, and workplace culture feel fully integrated."
Curating a Community
Designed by Kengo Kuma and Associates (KKAA), MIRAI is poised to contribute to the Miami Design District’s growing reputation as a significant architectural and cultural hub. The development aims to attract future tenants who share a common appreciation for design, culture, and hospitality, fostering a community of businesses that enhance the building’s character and the surrounding neighborhood.
Eduardo Pelaez, principal of Well Duo, emphasized this curated approach: "Rather than simply filling space, our focus has always been on bringing together businesses and brands that contribute to the character of the building and the broader neighborhood."
Future announcements regarding tenant partnerships, hospitality collaborations, and cultural programming are expected as construction progresses. The project also plans to feature a dynamic façade lighting program in collaboration with Viabizzuno, further enhancing its presence and contribution to the urban landscape.