Target to anchor new mixed-use development in Miami
A shopping center in Miami’s West Little Havana neighborhood is being redeveloped into a mixed-use project that will include residential and office space along with retail and restaurants.
Terra, a South Florida-based residential and commercial development firms, announced plans for the redevelopment and repositioning of what is currently known as Central Shopping Plaza into a 38-acre mixed-use project called CentroCity. The project includes 300,000 sq. ft. of lifestyle-oriented retail and restaurant space anchored by a 77,000-sq-ft. Target store.
The redeveloped site will also feature up to 1,200 market-rate residential apartments, green space for residents and an office building. CentroCity will be developed in multiple phases, beginning with the redevelopment of the property’s L-shaped shopping center with a newly re-imagined façade, common areas, landscaping and signage. The project’s first phase of residential development will follow, encompassing three eight-story multifamily buildings with 460 garden-style rental apartments. Future phases with additional multifamily units and a 250,000 sq. ft. commercial office building are also planned. Construction is expected to commence in summer 2021.
The retail upgrades have been conceived by RSP Architects. The residential component has been designed by Arquitectonica.
“Our mission at Terra is to improve communities through developments that fill a void in the market, and that’s exactly what we plan to do at CentroCity,” said David Martin, CEO of Terra. “Our goal is to enhance this underutilized asset and make it a more positive contributor to the community through low-impact infill development that will enhance the property while bringing much-needed market-rate housing to the neighborhood.”
The property’s central location – bounded by Northwest 37th Avenue on the east, Northwest 7th Street on the south, Northwest 39th Avenue on the west and Northwest 11th Street on the north – is near some of Miami’s largest employment centers, including Miami International Airport, the Coral Gables Business District and Blue Lagoon office complex.