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
The Villages Ranks as Fastest Growing Micropolitan Area
The Villages, a single-site mixed-use development located in Miami, Fla., earned the No.1 ranking as the fastest growing micropolitan area in the nation according to a recently released Census Bureau report.
Apartment Rents on the Upswing, Vacancies on the Downswing in Miami-Dade County
Apartments are becoming harder and harder to come by in Miami-Dade County, according to Marcus & Millichap's first quarter Apartment Research Report.
Mixed-Use in Property Coral Gables Gets a New Owner
Ownership of the 180,000-square-foot Plaza San Remo in Coral Gable has just changed hands, with a German investment group advised by Phoenix Property Co. acquiring the one-year-old retail and medical office condominium property from Venera Holdings.
Seven-Person East Coast Retail Team Joins HFF
Holliday Fenoglio Fowler L.P. has announced that a team of seven capital markets professionals and analysts will join the firm.
Billion-Dollar Sales Team Moves Up at Flamingo South Beach
Miami-area real estate hotshots Eddy Martinez and Roland Ortiz, who recently established full-service real estate brokerage firm Worldwide Development Services, have been promoted to sales directors at the Flamingo South Beach condominium property.