Regions Southeast | Miami
Work Underway on $1B Miami-Area Mixed-Use Project
Oct 16, 2007
By: Barbra Murray, Contributing Editor

Park Square at Doral, a mixed-use project in the City of Doral just 12 miles from downtown Miami, is now under construction. Developer Shoma Homes will spend an estimated $1 billion to develop the 24/7 destination, which will serve as growing Doral's town center.

Park Square will occupy a 51.4-acre parcel that had previously been home to Ryder Systems' headquarters. The project's Residences of Park Square component will offer 1,000 residential units, including 585 condos and lofts in mid-rise structures, 257 townhomes, and 61 carriage homes. One Park Square will feature 230,000 square feet of premier office space in a six-story structure with parking accommodations for 932 vehicles. Retail offerings at the development will encompass upscale shops and restaurants within the 130,000-square-foot The Shoppes at Park Square, which will also offer 880 parking spaces. Additionally, Park Square will feature a community clubhouse, ballroom, fitness center and ample green space.

"Demand is here already and it's going to get even better," Shoma's George Mato told CPN today. "This will be a place where you can live, work, play and then some, because everything you need is one place." The architectural firm of Zyscovich Inc. is behind the project's design. Work is scheduled to reach completion in 2009.

Doral, one of 34 of municipalities in Miami-Dade County, was incorporated in 2003 and has been growing by leaps and bounds ever since. According to the U.S. Census, the population in 2000 was approximately 20,400 and, as per the City of Doral, the current population is about 29,700. "This is an explosive, thriving city," Mato said. "All of the Fortune 500 industrial companies are based here. Carnival Cruises is here, Burger King is here. Doral has grown so much in the last three years."


 
Recent Miami Headlines
Whole Foods Retail Sells for $31M in Coral Gables
The Whole Foods condo, situated in Plaza San Remo in Coral Gables, Fla. sold for $31 million.
Arquitectonica Reshapes Miami Skyline with Completion of Marquis
The second-tallest building in Miami’s metropolitan skyline has recently been completed.  The 700-foot 67-story tower was designed by Miami-based Arquitectonica and developed by Leviev-Boymelgreen Marquis Developers.
Deka Immobilien Buys Florida Office Building for $83M
Deka Immobilien has acquired the BAC Colonnade office building in Coral Gables, Fla. for approximately $83 million. Deka Immobilien was advised by ING Clarion Partners L.L.C.
Miami International Freight Solutions Leases 75,000 SF in Florida
Miami International Freight Solutions, a warehousing, transportation, and logistical support company, has signed lease agreement at Higgins Development Partners’ Centergate at Gratigny, a 1.6 million-square-foot business park in Miami’s Airport North submarket.
Jones Lang LaSalle Selected as Leasing Agent for Miami Retail Center
TIAA CREF has retained Jones Lang LaSalle as leasing agent for Kendall Town & Country Center, a 643,692-square-foot, open-air retail development at 8505 Mills Drive in Miami, Fla.