Jennifer LeClaire | GlobeSt.com
Mixed-use and transit-oriented developments are emerging as a staple of new construction across the Southeast, though they are still less visible to the capital markets. It’s rare to see a new office or condo building rise without ground floor retail or a hotel component.
Miami is witnessing three game-changing mixed-use and transit-oriented developments coming off the drawing board and out of the dirt: Swire’s $1.05 billion Brickell CityCentre with office, residential, retail and hotels; the $2 billion Miami Worldcenter with those same components; and Miami Central’s All Aboard Florida, a three-million-square-foot urban mixed-use transit-oriented development.
“MiamiCentral demonstrates that a true passenger rail system and a connected public transportation system can reinvigorate a downtown, as so many world-class cities enjoy,” Michael Reininger, All Aboard Florida’s president and CEO, tells GlobeSt.com. “This is a rebirth for two ideal areas of Downtown Miami, an opportunity to create an identity for a historic part of the city, and reinvigorate the desire for mass transit. The importance of Downtown Miami is evidenced by the significant investment made not only by All Aboard Florida, but other key developments, and will be a hugely sought after iconic destination, in a newly urbanized neighborhood.” Read more