Midtown Miami is about to expand eastward in a big way, thanks to a new residential, retail, and 
restaurant project set in motion by Developer Alex Vadia. Vadia originally bought the nearly seven acres of vacant land between 2011 and 2012 for a combined $11.9 million, and although no set plans have been released it is said that the project will resemble Midtown Miami’s existing restaurant and retail components. This past Thursday Miami city commissioners approved the request unanimously, which was brought to the table by three entities affiliated with Vaida; Midtown Opportunities XIIB, Midtown Opportunities XIVB and Midtown Opportunities XVB. The company’s attorney declined comment about their future plans for the space, however it was discussed in a letter sent to Miami Planning and Zoning Director Francisco Garcia in 2014. In the letter she wrote, “Redevelopment of these properties is a natural extension of the successful Midtown Miami District. The revitalization of this site with development mirroring the urban mixed uses of Midtown will bridge the gap between Midtown and Biscayne Boulevard.”
This development project is just another example of the widespread growth taking place throughout Miami and South Florida. Demand for real estate has been booming for the past year or so, and these new site will only increase Miami’s popularity. By building up this space in a style that is reminiscent of nearby areas, Vadia and his team will be able to create a cohesive look for all of Midtown, which will greatly increase the property value throughout. Residential and commercial property in South Florida is some of most desirable in the country, and people from all over the US and even overseas are choosing to buy a home or a commercial space here. If you are interested in learning more about the amazing real estate currently available through the Miami area, then contact a RE/MAX agent today and they would be happy to assist with you with whatever you may need!