INVESTMENT SUMMARY
Magic City Innovation District
About the Project
• Magic City Innovation District will be a mixed-use master plan designed as a walkable campus that will consist of retail , office , residential , hotel , entertainment , park and other public spaces .
• A $ 1 billion phased , mixed-use development between Northeast 60th and 64th streets and Northeast Second Avenue to the railroad tracks . The first phase will include a sculpture garden , the 30,000 SF Magic City Studios and the 15,000 SF innovation center that would house startups , co-working space and other collaborations . Also , a proposal for a public train station along the Florida East Coast Railway situated proximate to the original location of the historic Lemon City train station in Little Haiti .
What is the Economic Impact ?
• Creation of 870 annual short-term construction jobs .
• Creation of more than 9,000 direct and indirect full-time jobs .
• The districts future residents , guests , hotel visitors , retail patrons , and office users will spend $ 173 million in annual expenditures .
• Upon stabilization , the district will generate more than $ 27 million in marginal property tax and sales tax revenue .
103 NE 59TH STREET | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P . 8