A 7.8-million-square-foot AI and asset-management campus with 2,600 apartments just got revived. Here is how megaprojects reprice a neighborhood years before delivery.
One of Miami's biggest stalled megaprojects is back on. Bob Zangrillo's Dragon Global, with Plaza Equity Partners, has revived the $3 billion Magic City Innovation District in Little Haiti, a 7.8 million-square-foot master plan now pitched as an AI and asset-management campus with 2,600 apartments.
The first phase is anchored by Dragon Global alongside the 25-story, 349-unit Sixty Uptown tower, and the plan includes a proposed Archer Aviation air-taxi vertiport. The developers have committed $31 million over 30 years to the Little Haiti Revitalization Trust, with $6 million already donated. Newmark's Anthony Orso is leading the marketing, as reported by Bisnow.
“We really envision this being a campus to match both leading AI companies with leading asset managers and building an evolved community.”— Bob Zangrillo, Dragon Global
My read: this is the emerging-neighborhood thesis in real time. Projects of this size re-rate the blocks around them years before the first tower opens. The announcement itself changes how the market prices nearby land and homes, because everyone underwrites the future, not the present.
Little Haiti has been on watch lists for a while. A committed $3 billion campus with an anchor-tenant strategy is a different signal than speculative rezoning. I would not wait for delivery to form a view. The window where you can still buy ahead of the re-rate is now, not after Sixty Uptown tops off.
I track the Miami neighborhoods that megaprojects are about to reprice. See the map.
Explore the neighborhoods →Cover photography: Creative Commons / public domain — photo credits.
Keep reading
Prosper Group and Versluys Group unveiled Bugatti Residences Miami on September 15, the marque's first U.S. branded residence, on the $50 million Brickell acre they closed in August. No pricing yet. Sales open in the first half of 2027.
More than 2,000 rentals are now funded on 4.7 acres between MiamiCentral and Miami Worldcenter. That pipeline will set Downtown and Edgewater rents for years.
Four people were hospitalized in stable condition after the rig came down Monday morning at Brickell Bay Drive and Southeast 12th Street. OSHA is investigating.