Miami-Dade County is experiencing a significant boom in real estate development and transactions, with recent approvals and sales signaling robust growth. The county commission has greenlit major mixed-use projects, including substantial investments in affordable housing and commercial spaces, alongside notable commercial property sales.
Major Mixed-Use Developments Approved
Miami-Dade County has given the go-ahead for several transformative mixed-use developments, poised to reshape the local landscape and address critical housing needs.
- The HueHub: An $880 million project in the West Little River district, this development will feature over 4,000 "attainably priced" apartments across seven 35-story towers. It will also include nearly 200,000 square feet of amenities and a two-acre park. This project is a significant utilization of Florida’s Live Local Act, aimed at boosting affordable and workforce housing.
- Little River District: This massive $3 billion development, spanning 63 acres in the Little River and Little Haiti neighborhoods, is set to become the largest affordable housing development in Miami-Dade’s history. It will deliver over 5,700 affordable and workforce housing units, 370,000 square feet of retail space, and 250,000 square feet of public green space. The project also includes a new Tri-Rail train station, representing a substantial investment in public transportation.
Key Commercial Real Estate Transactions
Alongside new developments, the county has also seen significant activity in commercial property sales, indicating strong investor confidence.
- CityPlace Doral Sale: Continental Realty Corporation (CRC) has acquired CityPlace Doral, a 235,000-square-foot grocery-anchored lifestyle and entertainment center, for $87.5 million. The center features over 30 retailers and restaurants, including The Fresh Market and Cooper’s Hawk, and was approximately 80 percent leased at the time of sale. This acquisition marks CRC’s entry into the South Florida retail market.
Market Outlook
Recent reports indicate a stable retail market in Miami-Dade County, characterized by tight vacancy rates. This suggests a healthy demand for commercial spaces, further supported by the ongoing development and transaction activity. The region’s strong population and workforce growth continue to fuel demand across various real estate sectors.
Economic Impact
These developments are expected to generate substantial economic benefits, including job creation during construction and upon completion. The Little River District project alone is projected to create approximately 3,840 construction jobs and 518 permanent positions. Furthermore, the county anticipates significant revenue sharing from this project, which can be reinvested into community development and addressing the affordable housing crisis.
Sources
- Miami-Dade County Approves $880M Mixed-Use Development in Miami’s West Little River District –
REBusinessOnline, REBusinessOnline. - Northwest Miami-Dade retail plaza trades hands for $87.5 million, CoStar.
- Miami-Dade County Commission Approves $3 Billion Mixed-Use Development, Shopping Center Business.
- Continental Realty Corp. Enters Miami-Dade County Retail Market with $87.5M Acquisition of CityPlace Doral |
citybiz, citybiz. - Miami-Dade Retail Stable in Q1 2025 Amid Tight Vacancy, Colliers.