Gallery at SoMi Parc Breaks Ground With Affordable, Workforce, and Special-Needs Housing
The Gallery at SoMi Parc has officially broken ground in South Miami, marking the next phase of a large-scale affordable and workforce housing redevelopment in a region grappling with rising housing costs. Developed by Related Urban, the project will replace portions of the former South Miami Gardens public housing complex with a mixed-income community that includes housing targeted toward residents with special needs. A groundbreaking ceremony was held June 12 at the development site, located at 5961 SW 68th Street, and was attended by local officials, housing leaders, and members of the development team. The project is part of a broader redevelopment effort that began after Related Urban was selected through a competitive process in 2020 to partner with Miami-Dade County Public Housing and Community Development on the transformation of South Miami Gardens. The first phase of the redevelopment has already been completed, allowing existing residents to relocate into newly constructed housing and freeing additional land for future development under a 99-year ground lease. In late May, Related Urban submitted plans for the next stage of the community, which calls for two 15-story towers containing approximately 700 residential units. The first tower is now moving forward into construction. Of the project’s planned 700 units, the initial phase encompasses approximately 350 apartments. Housing will serve a range of income levels between 20 percent and 80 percent of Area Median Income. Fifty-one of those units will be designated as “Link” residences reserved for individuals with special needs, while the remaining apartments will be targeted toward workforce households, including teachers, healthcare workers, service industry employees, and other essential workers. The development was submitted under Florida’s Live Local Act, allowing it to proceed through an administrative review process rather than traditional local public hearings. While a project of this scale may have ultimately received local approval through different channels, the administrative pathway provided a faster and more predictable entitlement process, reducing costs. Financing for the development comes from a combination of public and private sources. Funding includes $86 million in private placement bonds from Merchants Bank of Indiana, $60 million in Low-Income Housing Tax Credit equity from Red Stone Equity Partners, an $8.5 million sponsor loan from Related Urban Capital, and an additional $8.5 million State Apartment Incentive Loan (SAIL) from the Florida Housing Finance Corporation. Residents will have access to a variety of amenities, including a swimming pool, fitness center, gathering spaces, and modern apartment interiors. According to Traded, units will feature quartz countertops, vinyl flooring, porcelain-tile bathrooms, washers and dryers, and other contemporary finishes. Some residences will also include private balconies. Ground-floor plans call for approximately 8,000 square feet of retail space alongside parking, lobby areas, resident amenities, widened sidewalks, landscaped public spaces, and more. Designed by Modis Architects, the tower is expected to rise 15 stories and approximately 150 feet. Elevations show a facade incorporating brown and white tones, metal balconies, stucco detailing, and large window openings. Construction of the first tower is expected to be completed in late 2028. A timeline for the second tower has not yet been announced. The project represents the latest affordable housing development to move forward for Related Urban, which is also advancing other major initiatives across South Florida, including the planned Gallery at Wagner Creek development.
Bob Zangrillo Revives Plans for $3 Billion Magic City Innovation District
Plans for Magic City Innovation District, a $3 billion mixed-use development proposed in Miami’s Little Haiti neighborhood, are gaining new momentum after technology investor Bob Zangrillo outlined an updated vision for the project in a report with Bloomberg this week. The 17-acre development has been years in the making. Land assembly efforts began during the early 2010s, followed by the unveiling of a master plan to the city in 2019. While the project has largely remained dormant in recent years, newly revealed plans position the district as an AI-focused hub centered around technology, office space, housing, and retail. The renewed push is being led by Zangrillo, founder, chairman, and chief investment officer of Dragon Global, a Miami-based investment firm focused on artificial intelligence companies targeting markets valued at more than $100 billion. Dragon Global is partnering with Miami-based Plaza Equity Partners to advance the project. The development’s path has not been without controversy, however. Zangrillo was among several business executives implicated in the college admissions scandal involving the University of Southern California. President Donald Trump later issued pardons to those involved on the final day of his first term in 2021. Separately, the project has faced sustained opposition from some residents and community groups concerned about displacement and gentrification in Little Haiti. In response to those concerns, the development team committed $31 million toward the creation of the Little Haiti Revitalization Trust, an initiative intended to support affordable housing and local economic development. The project is supported by an approved Special Area Plan, or SAP, which allows up to 7.8 million square feet of development across the site. Plans call for approximately 2,630 residential units, 2.2 million square feet of office space, 520,970 square feet of retail, 432 hotel rooms, and roughly 6,000 parking spaces. Construction is planned to occur in phases. The first phase will be led by Sixty Uptown, a 25-story residential tower containing 349 apartments and more than 30,000 square feet of resident amenities, including a rooftop pool, fitness facilities, and other shared spaces. Also included in the initial phase is a Class A office campus anchored by Dragon AI. Plans call for approximately 873,000 square feet of office space, 80,000 square feet dedicated to health and wellness uses, and 70,000 square feet of retail. Future phases will introduce some of the district’s most ambitious components, including the DuPont Registry Tower. The 12-story building is planned to contain approximately 370,000 square feet of office space, ground-floor retail, a 20,000-square-foot rooftop venue, a members-only private car club, and roughly 94,000 square feet dedicated to vehicle storage and display. At the heart of the district will be a 2.5-acre public promenade winding through existing century-old oak trees. The space is envisioned as the project’s central gathering area, surrounded by retail storefronts, public art installations, restaurants, and pedestrian-oriented public spaces. The development also stands to benefit from future transportation investments. Miami-Dade County’s proposed Northeast Corridor rail project may include a planned station nearby, while the development team has floated the possibility of incorporating rooftop eVTOL air taxi facilities as an additional transportation option. If fully realized, the Magic City Innovation District would further extend the city’s rapidly growing skyline northward. It would also join a growing pipeline of major projects reshaping the area’s future skyline, including Swerdlow Group’s proposed Little River affordable housing development.