Opa-locka Moves Forward With Ambitious Downtown Mixed-Use Project

Opa-locka officials have taken an initial step toward transforming a collection of city-owned properties into a large mixed-use district that could eventually include 1,500 residences and hundreds of thousands of square feet of commercial space.

At its July 27 meeting, the Opa-locka Community Redevelopment Agency board authorized negotiations with DBJ&L International and Los Angeles-based affordable housing developer MRK Partners. The companies are seeking a long-term ground lease covering six parcels near City Hall.

The approximately 1.5-acre assemblage includes properties at 241, 291 and 391 Opa-locka Boulevard, 240 Bahman Avenue, 861 Salih Street and 879 Fisherman Street. Because the sites would be leased rather than sold, the CRA would retain public ownership of the land while allowing private development to move forward.

The developers’ initial phase calls for 225 apartments, a 35,000-square-foot grocery store, a 15,000-square-foot daycare facility, a 100-room hotel and 50,000 square feet of flexible commercial space.

Those plans represent only a portion of the proposed Opa-Locka City Place development. At full buildout, the project is expected to include approximately 1,500 residential units, some designated as affordable housing, along with 275,000 square feet of retail space. An elementary school, hotel and parking garage are also included in the broader concept. The overall development has been valued at approximately $532 million.

The proposal could substantially expand the housing and commercial options available in a downtown area that has attracted comparatively little of the development activity occurring elsewhere in Miami-Dade County. In addition to adding residences, the inclusion of a grocery store, childcare facility and school would bring services intended to support existing residents as well as the project’s future population.

The CRA was established to encourage investment within designated portions of Opa-locka through a combination of public and private resources. Its redevelopment area encompasses roughly 514 acres, including the downtown, industrial, residential and commercial districts. Increased property values generated by new projects within the district can produce additional tax-increment revenue for improvements elsewhere in the redevelopment area.

The board’s action does not constitute final approval of the development or execution of a ground lease. Lease length, rental payments, development requirements and any public infrastructure commitments must still be negotiated. The proposed agreement will have to return to the CRA board for consideration before it can be finalized.

If the negotiations result in an approved agreement, Opa-Locka City Place would rank among the city’s most consequential redevelopment projects in decades.

 

Sources:  The Real Deal and Opa-locka Community Redevelopment Agency