{"id":1004355581,"date":"2019-09-27T01:51:33","date_gmt":"2019-09-27T09:51:33","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004355581"},"modified":"2021-05-15T05:26:31","modified_gmt":"2021-05-15T13:26:31","slug":"first-largest-ground-up-oz-project-comes-to-miami-design-district","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/first-largest-ground-up-oz-project-comes-to-miami-design-district\/","title":{"rendered":"First Ground-Up OZ Project Comes to Miami Design District"},"content":{"rendered":"<div id=\"attachment_1004355599\" style=\"width: 288px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/09\/BH-Design-District-OZ-project.jpeg\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004355599\" data-attachment-id=\"1004355599\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/first-largest-ground-up-oz-project-comes-to-miami-design-district\/bh-design-district-oz-project\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/09\/BH-Design-District-OZ-project.jpeg\" data-orig-size=\"1000,1080\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"3801 N. Miami Ave.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;3801 N. Miami Ave. &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/09\/BH-Design-District-OZ-project.jpeg?w=948\" loading=\"lazy\" class=\"wp-image-1004355599 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/09\/BH-Design-District-OZ-project.jpeg\" alt=\"3801 N. Miami Ave. \" width=\"278\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/09\/BH-Design-District-OZ-project.jpeg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/09\/BH-Design-District-OZ-project.jpeg?resize=278,300 278w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/09\/BH-Design-District-OZ-project.jpeg?resize=768,829 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/09\/BH-Design-District-OZ-project.jpeg?resize=948,1024 948w\" sizes=\"auto, (max-width: 278px) 100vw, 278px\" \/><\/a><p id=\"caption-attachment-1004355599\" class=\"wp-caption-text\">3801 N. Miami Ave. <em>Image courtesy of BH3<\/em><\/p><\/div>\n<p>BH3 will develop an 86,000-square-foot retail project in Miami\u2019s Design District, the 30-acre enclave featuring high-street shops, upscale restaurants, art galleries and hotels.<\/p>\n<p>The development will be the first and largest ground-up building to rise in this <a href=\"https:\/\/www.commercialsearch.com\/news\/exploring-opportunity-zones-part-i\/\">Designated Opportunity Zone<\/a>. The project received its final and non-appealable site plan approval in August 2019. Having Segal Suarez as architect, groundbreaking is planned for the second quarter of 2020, with expected delivery in the third quarter of 2021.<\/p>\n<p>The nine-story building will be located at 3801 N. Miami Ave., at the southwestern entrance of the Design District, roughly 4 miles north of downtown Miami. The property is adjacent to Interstate 195 and close to Interstate 95, mid-way between Miami International Airport and Miami Beach. The retail development, also including showroom space, will feature 25-foot ceilings on ground level and 14-foot ceilings on floors two through nine. Preleasing is to start in October 2019, with estimated rents ranging from $45 to $55 triple net per square foot.<\/p>\n<p>BH3 purchased the two development parcels at 3801 and 3819 N. Miami Ave. for $15.1 million in 2017. In 2019, the developer established an Opportunity Zone fund specifically for this project, according to Gregory Freedman, principal and founder of BH3.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BH3 is set to develop a retail building on two adjacent parcels near Interstate 195, halfway between Miami International and Miami Beach.<\/p>\n","protected":false},"author":870,"featured_media":1004355611,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,1492,21742,21749],"tags":[41936,41939,43688],"class_list":["post-1004355581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-miami","category-latest","category-retail","tag-bh3-real-estate-development","tag-greg-freedman","tag-opportunity-zones"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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