Brick and Mortar Retail Project Fuels Miami’s Next Hot Neighborhood
Miami’s next hot neighborhood for redevelopment is quietly getting the attention of retailers such as Publix Super Markets, Burlington Coat Factory, TJ Maxx, West Marine, Ross Dress For Less, AT&T, Hobby Lobby and others.
Located west of downtown Miami, the Health District is one of Florida’s largest employment hubs. Despite high demand for services, the district has been a retail desert for decades. But things are changing, and River Landing Shops & Residences is the catalyst for that change.
River Landing is the largest retail project now under construction in Miami, one of the nation’s hottest retail markets. The 2 million-square-foot development along the scenic Miami River is the first large-scale retail project to enter the neighborhood, which benefits from its proximity to downtown Miami and access to major thoroughfares.
Since River Landing began to go vertical a few months ago, the 8.4-acre development has spurred real estate investors and developers to the area, seeking to serve millennials who want to work, live and shop in the same neighborhood. River Landing itself will offer 508 market-rate apartments.
River Landing, which will include a linear park along the Miami River, is contributing to the revitalization of the historic riverfront where the area is gradually transforming into a live, work, play neighborhood.
The renewed interest for the long-neglected Health District is also boosting land values and injecting new life into the historic Allapattah neighborhood next door.
“This is a smart market for retailers because the customer base is a growing sector of the local economy yet, there are barriers to enter the market,” said Andrew Hellinger, a principal of Coral Gables-based UrbanX Group. Hellinger and partner Coralee Penabad are the developer of River Landing Shops & Residences. “We are fortunate to have the best retailers in our roster and continue to look for local and regional retailers that will benefit from River Landing’s strategic location.”
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