Welcome to an exciting world of transformation in Hialeah, the City of Progress! In this blog post, we dive into the remarkable Hialeah development projects that are reshaping the landscape of this vibrant Miami-Dade County city. With over $620 million invested by multiple developers, Hialeah is experiencing a surge of progress, from industrial to multifamily and office developments. Join us as we explore the details of eight noteworthy projects that are set to redefine the future of Hialeah. Discover the vision, innovation, and opportunities these projects bring to the city. Get ready to witness the dynamic transformation of Hialeah unfold before your eyes.
Hialeah is the second most populous city in Miami-Dade County and eight projects including multiple industrial, office, and multifamily developments are in plan to be built. There is a surge of redevelopment in the city and many industrial buildings are being replaced with multifamily. And people have mixed thoughts about this situation.
Let’s talk about some of the noteworthy development projects in Hialeah.
Prestige Companies and Florida Value Partners are joining forces to build a new development that will be a three-story building. It will house 12 apartments and 100 townhomes for rent. Last year, Prestige and Florida Value teamed up to buy a 5-acre property for a cool $15 million from a Prestige affiliate. And they’ve wasted no time in getting the ball rolling on their new project. In fact, just a few months ago in January, they secured a $20.5 million mortgage from Boca Raton-based Amzak Capital Management. Prestige is based in Miami Lakes, while Florida Value calls Miami home. And it looks like these two real estate powerhouses are bringing their A-game to this new venture.
Ares Management, one of the biggest players in the game, has announced that they’ve got plans in the works for a new three-building industrial and office complex at the Countyline Corporate Park. According to the details, two of the buildings will each cover an impressive 214,000 square feet, while the third will be no slouch either, coming in at nearly 193,000 square feet. But that’s not all – they’re also planning to offer smaller office and warehouse spaces ranging from 21,000 to 57,000 square feet. That means there will be a variety of spaces to suit all kinds of businesses and needs. Here, it is important to note that the company filed records containing names of logistics, manufacturing, wholesale and other companies that appear to be potential tenants. Moreover, Ares Management paid $111.1 million for the property back in January.
In January, Easton Group and LBA Logistics secured a construction loan worth $61 million to construct speculative warehouses spanning an impressive 463,000 square feet. The project is expected to take shape on a vacant property measuring 26 acres, which was acquired by Easton Group and LBA Logistics for $29.4 million in 2022. The loan was provided by Principal Life Insurance, a company headquartered in Des Moines, Iowa. Construction has already started and the project is estimated to be completed by the fourth quarter of this year. In an official statement, Easton said, “Vacancy rates are still very low and rents still seem to be growing. So we feel we are delivering some much-needed space to the market.” You might also want to note that Easton Group is based in Doral and has been one of the most active industrial developers and investors in South Florida since the 1970s.
Coral Gables-based MG Developer and New York-based Baron Property Group have joined forces to create the ultimate living experience in the heart of Miami. The dynamic duo has just secured a whopping $148 million construction loan to build a luxurious two-building, 10-story apartment complex – Metro Parc. With a grand total of 559 units, this residential masterpiece promises to be a game-changer for Miami’s skyline. But wait, there’s more! This project is not just about creating a place to call home. It’s also about crafting a community that residents will be proud to be a part of. The developers have meticulously planned every detail, from the lush greenery that surrounds the complex to the state-of-the-art amenities that will be available to residents. And all of this will be situated on land that the developers acquired for a cool $12.7 million last year.
Ares Management has acquired not one, but two warehouses that are currently under construction at 410 West 104th Street. The first site, which spans a massive 9.6 acres, was purchased by Ares for a whopping $37 million. But that’s not all – they also snapped up an adjacent 10.2-acre parcel for an additional $25 million. That’s a grand total of $62 million for two of the most coveted development sites in the city. But Ares didn’t stop there. They also took over the construction of the warehouses after acquiring the development site from Miami-based Florida East Coast Industries (FECI). Here, it is important to note that this property is within the master-planned 95-acre Countyline Corporate Park.
Dacar Management, a commercial real estate firm based in Dania Beach, is the company behind this new mixed-use project that is a sprawling 70-acre site. The company acquired the site back in 2011 from a foreclosure auction. And now, after years of careful planning, Dacar is bringing its vision to life with a brand-new mixed-use project at 3685 West 85th Path. But that’s not all – they also secured an impressive $81 million construction loan to finance this massive undertaking. This project promises to be a true game-changer, with 244 apartments and a retail component that will cater to the needs of the surrounding community. The multifamily and retail components of this project are being developed simultaneously and the entire project is estimated to be completed by the third quarter of this year. Some of the signed tenants include Publix, Burlington, HomeGoods, Five Below, Taco Bell, and Famous Footwear. Moreover, the firm has plans to develop 12 other outparcel buildings once the apartment complex and retail center are completed.
Juan Carlos Gonzalez, the owner of J.V.C. Management, has announced this project that will replace an existing trucking lot and encompass two phases. To fund the project, Gonzalez secured a loan worth $67 million in May. The project’s initial phase will include the construction of seven buildings, ranging from two to five stories, with a total of 314 units. The buildings will feature a diverse mix of apartment types, including 110 one-bedroom, one-bath units, 138 two-bedroom, two-bath units, 56 three-bedroom, two-bath units, and 10 three-bedroom, two-and-a-half bath units. The second phase will add another 300 units to the community.
In September 2022, an affiliate of Prestige Companies acquired a 13.1-acre vacant lot from the historic Hialeah Park Racing & Casino. The lot is part of a larger 200-acre plot of land, and the purchase was made in collaboration with the Brunettis. The two parties plan to develop a Mater Academy K-12 charter school and 343 apartments, consisting of three-story low-rise buildings and townhomes, according to official city records. The project represents the first phase of a new special zoning district for Hialeah Park, which has been designed to allow for the development of several amenities, including hotels, restaurants, nightclubs, a supermarket, a bowling alley, and even an equestrian hospital.
Are you curious about the value of your home in today’s rapidly changing real estate market? Don’t miss out on the exciting opportunities arising in Hialeah and South Florida. Take action now and contact me to find out what your home is currently worth. As a Miami real estate expert, I am here to provide you with accurate insights and guidance tailored to your unique situation. Whether you’re considering selling or simply curious about the market trends, don’t hesitate to reach out. Make the most of this transformative period in Hialeah’s real estate scene. Contact me today and let’s embark on this exciting journey together.
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