While most of the buzz this week is on Art Basel, we are excited about a 15-acre site in Miami’s Little Haiti neighborhood that is set to be the future home of the Magic City Innovation District. Slated to open in 2018, the innovation center will house startups, co-working space and other collaborations. 

A partnership between developer Tony Cho and Silicon Valley entrepreneur Bob Zangrillo aims to bring together technology and culture. 

Cho Dragon Management unveiled plans for Magic City, 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-square-foot Magic City Studios and the 15,000-square-foot innovation center, the Miami Herald reported. 

Also included would be an office tower, retail space and workforce housing that includes micro units. Down the line, the developers are also considering a boutique hotel. Their goal is to create a walkable neighborhood with retail, office, entertainment and residential components. The project has been self-financed so far, but the developers are looking for private and public financing, the Herald reported.

Cho and Zangrillo have already brought on tenants like the Wynwood-based Salty Donut, Institute of Contemporary Art, Photopia and Etnia Barcelona. 

The Magic City Trailer Park, a property that dates back to the early 1900s, will become the sculpture garden and green space. 

It is exciting to see all the new development already underway in Little Haiti, a neighborhood that has attracted artists and entrepreneurs based out of Wynwood, but also investors and developers.