MCID will revitalize nearly 18 acres of underutilized industrial and vacant property located in the City of Miami’s Little Haiti neighborhood, while preserving the community’s authentic cultural identity. In addition, MCID will create a walkable urban campus that will become a premier destination for innovation, technology, entrepreneurship, art, and culture.
“We are excited that the Magic City Innovation District will become a reality now that it has been approved by the Miami City Commission,” said Neil Fairman, Managing Partner, MCID. “We have been working alongside the community for over two years to develop this innovative project that will bring more jobs, create economic prosperity, and preserve the thriving culture of Little Haiti. As we move forward with the project, we are committed to continue working with the community to ensure that MCID delivers on its promises.”
Working hand-in-hand, the community and MCID have ensured that the approved SAP master plan is an inclusive project that will address issues such as employment creation, affordable housing, business development, historic preservation and the creation of new public civic spaces, and will help to improve the quality of life for residents in the surrounding neighborhoods and throughout the City of Miami.
The SAP will provide significant community benefits, including a historic contribution package of up to $31 million in payments into the Little Haiti Revitalization Trust — a trust to be created and administered by the City of Miami to coordinate and support community revitalization efforts in Little Haiti. Among the trust’s priorities and programs are affordable housing and homeownership, community educational programs, local small business development, local workforce participation and hiring programs, community beautification projects, and the creation and improvement of public parks. Furthermore, the Little Haiti Revitalization Trust Fund will be overseen and administered solely by and for the community.
Additionally, the SAP will enhance neighborhood connectivity by improving local roads and investing in pedestrian and bicycle infrastructure and public open and civic spaces. The SAP will work with and alongside local entrepreneurs to help them grow their businesses. Moreover, the SAP will preserve and enhance the historic culture of the Little Haiti neighborhood, including one of Miami’s oldest structures, the DuPuis Medical Building. The SAP will also provide approximately 3.8 acres of public civic space, including the development of an approximately 2.18 acre landscaped pedestrian promenade named the Promenade du Grand Bois.
The SAP will contribute to the economic vitality of the area. MCID is committed to providing an ecosystem to curate a community of businesses, makers and educators that will develop a powerful, self-sustaining economic engine in Little Haiti. To quantify some of the benefits, a leading independent advisor completed an analysis of the SAP’s projected economic impact, which includes: adding $188 million per year to local businesses and residents of the Little Haiti economy as a result of foot traffic into the neighborhood from new residents and visitors; creating more than 11,680 direct and indirect jobs in Little Haiti; and, adding $27 million in property tax revenue for local schools to prepare children for the future.
MCID also includes immediate site activation and benefits to the community. In the near term, MCID has renovated and continues to renovate existing factories, warehouses and buildings into unique leasable spaces for offices, galleries, ateliers, cafes, restaurants, retailers and pop-up shops. Additionally, the team behind the project also created the Magic City Innovation District Foundation (MCID Foundation), a charitable fund at the Miami Foundation, a 501(c)(3) non-profit corporation, to support the economic, social and cultural prosperity of Little Haiti and the diverse population of people who live and work there. In partnership with the community, the MCID Foundation has already provided, and will continue to provide, funding and support to programs that benefit the local community and facilitate sustainable growth. This includes investments in the Gang Alternative Technology Summer Camp, small business training for local, minority-owned businesses, the Women of Tomorrow’s mentorship program at Edison High School, and the Little Haiti Football Club (the premier youth soccer program in the neighborhood), in order to ensure that all members of the community can grow and thrive together for years to come.
About Magic City Innovation District (MCID)
Magic City Innovation District is an innovation district focused on technology, sustainability, health and wellness and culture. MCID is revitalizing the Little Haiti and Little River neighborhoods to create a world-class destination. It will provide Miami a walkable, campus-like neighborhood where individuals from all demographic backgrounds can enjoy a quality life and re-write history on how communities live, work, play, and learn together. MCID will serve as a new model for future innovation districts and real estate development worldwide.
About the Magic City Innovation District Foundation
The Magic City Innovation District Foundation is a charitable fund at the Miami Foundation, a 501(c)3. It is committed to the economic, social, and cultural prosperity of Little Haiti and the diverse population of people who live and work there. In partnership with community leaders, activists, organizations and government entities, the Foundation provides funding and support to programs that benefit the local community and facilitate sustainable growth.
CONTACT: Danielle Alvarez