2/27/17, 4(15 PMLittle Haiti will be South Florida's hottest neighborhood in 2017 | Miami Herald

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REAL ESTATE NEWS JANUARY 5, 2017 5:49 PM

Little Haiti will be South Florida’s hottestneighborhood in 2017, report says

BY NICHOLAS NEHAMAS

nnehamas@miamiherald.com

The Little Haiti area will be South Florida’s hottest residential neighborhood in 2017, evenas the wider region cools down, according to a report released Thursday by real estatewebsite Zillow.

The company predicts home values in the gentrifying area north of downtown Miami willrise 4.6 percent this year. (Zillow included Little River, Buena Vista and the area around theDesign District — together once known as Lemon City — in its analysis.) That’s the fastestrate in Miami-Dade, Broward and Palm Beach counties.

But South Florida as a whole will grow at a 1.6 percent clip, Zillow said. Miami’s growth rateputs it at number 90 of the country’s 96 largest metro areas, according to Zillow projections.

Little Haiti, ‘the next Wynwood’

With Brickell and the Beach overbuilt, developers are now zeroing in on under-valuedneighborhoods close to the urban core.

“This could be the next Wynwood” is the mantra of many investors and home flipperscrowding into Little Haiti. The average home there is valued at $191,500, up 19.6 percentover the last year, according to Zillow.

Just south of the booming neighborhood, the Archdiocese of Miami wants to sell the 15-acrecampus of Archbishop Curley-Notre Dame High School in Buena Vista. Developers have alsounveiled plans for large, mixed-use projects. And restaurants and commercial business are

1 of 3" !

Haitian street aritst/muralist Serge Toussaint's murals are displayed on the walls of local stores and business throughoutLittle Haiti. CARL JUSTECARL JUSTE - cjuste@miamiherald.com

2/27/17, 4(15 PMLittle Haiti will be South Florida's hottest neighborhood in 2017 | Miami Herald

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p g , p j moving in, too, most recently Entercom Communications, one of the country’s biggest radiobroadcasters, which signed a lease in Little River.

$191,500 Average home value in Little Haiti

Some business owners and residents are worried they could be forced out by the wave ofcash, and that Little Haiti’s unique cultural heritage is under siege. In March, with thesupport of many Haitian Americans, the city of Miami officially recognized the area roughlybetween 54th Street and 79th Street, and Northwest Sixth Avenue and Northeast SecondAvenue, as Little Haiti.

Zillow predicts the other top neighborhoods in South Florida in 2017 will be the 441corridor in Hollywood (the residential area south of the Seminole Hard Rock Hotel &Casino); South Middle River in Fort Lauderdale; Highland Garden in Hollywood; and LibertyCity in Miami.

South Florida slowdown

The overall slowdown in South Florida might come as a surprise after years of big gains.

Fueled by foreign investment, real estate in Miami Beach, Brickell and other high-rise havensrecovered quickly after the housing bubble burst, leaving less fashionable areas behind. Overthe last year, home values in the Miami metro grew 8.8 percent.

But now that a strong dollar has cooled the condo market, overall growth is plummetingcompared to other major metro areas.

“We’re expecting a drastic slowdown,” said Svenja Gudell, chief economist at Zillow. “Miamiwas the one market where I was starting to get concerned about a bubble because of theforeign investment flowing in and prices becoming so unaffordable. … A slowdown is actuallya good thing because it could allow incomes to catch up.”

The volume of home sales in Miami-Dade fell by double digits in three of the four monthsleading up to November’s presidential election.

Zillow also found that Miami has a higher unemployment rate and slower projected wagegrowth than other big cities. Recession in Latin America prevented Miami’s economy frombooming at the rapid clip experienced in other parts of Florida and the Southeast in 2016.

The metro areas projected to experience the biggest increases in home values this year areNashville, Tennessee; Seattle; Provo, Utah; Orlando; and Salt Lake City.

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10/3/17, 9)58 AMCitadel Food Hall | Miami Food Halls | River Oyster Bar

Page 1 of 2https://therealdeal.com/miami/2017/05/17/the-river-seafood-oyster-bar-others-head-to-the-citadel-food-hall-in-little-haiti/

Sections !

The River Seafood Oyster Bar, others to open at the Citadel food hall in Little Haitithis winterAlso announced: Green G Juice Bar and Taquiza

May 17, 2017 02:15PM

Rendering of the Citadel

The Citadel, a food hall planned for the Little Haiti/Little River neighborhood of Miami, announced a slate of new

tenants, including the River Seafood Oyster Bar.

Joining the River oyster bar is Green G Juice Bar and Taquiza, according to a press release.

Developers Thomas Conway and Nicholas Hamann plan to open the Citadel, a roughly 60,000-square-foot space at 8300

Northeast Second Avenue, in the winter. Other food and beverage concepts planned for the food hall include Stanzione

87, Bianco Gelato and Smashing Avo’s.

The Citadel will have up to 22 food and beverage tenants ranging from 100 square feet to 400 square feet, Hamann

previously said. Green G will offer cold-pressed juices, smoothies and Acai bowls. Taquiza will sell tacos, street food and

beer. It will be the second location for the River oyster bar, which is located at 650 South Miami Avenue near the Miami

River and Brickell City Centre.

Property records show Hamann’s Uptown Miami 8300 LLC paid $2.7 million for the 1951-building in 2014. The food

hall will take up about a third of the Citadel building, across the street from MADE at the Citadel. MADE is a co-working

space Conway and Hamann opened about two years ago.

Last year, Entercom, one of the largest radio broadcasting companies in the U.S., inked a 22,500-square-foot lease for the

rest of the Citadel. The area, which is west of Biscayne Boulevard, is attracting significant investment. Recently proposed

developments in Little Haiti include Eastridge special area plan that would take over 22 acres, a proposal to

redevelop Archbishop Curley-Notre Dame High School, and the $1 billion Magic City project.

The food hall craze is just hitting South Florida. La Centrale at Brickell City Centre, a three-story, 38,000-square-foot

Entercom broadcasting company leaves Miami Gardens for Little HaitiFourth largest broadcasting company is expanding from 15,000 sf to 22,500 sfJanuary 03, 2017 03:00PM By Katherine Kallergis

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Rendering of the Citadel building. Inset: Doug Abernathy, vice president and general manager of Entercom Miami, and Donna Abood

Miami’s Little Haiti neighborhood has attracted a new tenant. Entercom Communications Corp., one of the country’s biggest radio broadcasting companies, ismoving from Miami Gardens to Little Haiti.

Entercom inked a lease for 22,500 square feet at the Citadel, a redeveloped, mixed-use, 62,000-square-foot building at 8300 Northeast Second Avenue,according to Avison Young. The brokerage’s principals and managing directors Donna Abood and Michael T. Fay and senior associate Joe Abood representedEntercom in the lease, which will take up the second floor of the building with offices, studios, meeting rooms and a performance space for up to 200 guests.

Asking rent for the 22,500 square feet in the building was $30 per square foot, according to December 2016 data from the CoStar Group. About 5,500 squarefeet of ground floor retail space is still available.

Overall, the average asking office rent in Little Haiti is nearly $40 a foot.

Urban Atlantic Group and Conway Commercial Real Estate own and redeveloped the property. Thomas Conway, principal and managing director of hiscompany, represented the Conway and Urban Atlantic. The two firms also own MADE at the Citadel, a two-story, 26,000-square-foot co-working building acrossNortheast Second Avenue. That opened less than two years ago.

New development plans are sprouting up all over the neighborhood. There’s the proposed Eastridge special area plan that would take over 22 acres, aproposal to redevelop Archbishop Curley-Notre Dame High School, and the $1 billion Magic City project.

Entercom, a publicly traded broadcasting company based in Bala Cynwyd, Pennsylvania, calls itself the fourth-largest radio company in the United States,with more than 125 radio stations in 27 media markets. It’s leaving its 15,000-square-foot space at 20450 Northwest Second Avenue and will move into theLittle Haiti location in the fall, according to a press release.

TRD Researcher Eda Kouch contributed to this report.

Tags: donna abood, Little Haiti

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