Bayview Market Site Sold For $64 Million; Zoned For Up To 3 Million Square Feet

A company managed by developer Richard Meruelo has purchased the property where Bayview Market was once proposed for $64 million

Rebuild Miami-Edgewater LLC bought the 7.35-acre site from BDB Miami. The newly-formed LLC put $30 million into the deal, with the remaining $34 million financed by the selling entity.

BDB retained ownership of 30,000 square feet of land west of the property. A cemetery borders the property to the north, which likely dampened buyer interest.

A big-box retail market was once planned by BDB, but never built. The broker representing the seller claims that the property is zoned to build up to 3 million square feet of residential, retail, hotel and office space.

 

Old plans for Bayview Market and Max Miami:

21 Comments
most voted
newest oldest
Inline Feedbacks
View all comments
Will I Am
5 years ago

That’s where soccer stadium should go.. on top of a big box retail podium of course.

ILK
5 years ago

My thoughts exactly — and maybe possible, given Richard Meruelo has L.A. ties just like Beckham, and Meruelo’s brother, Alex, has an avowed interest in owning a sports team (having lost out on buying the Atlanta Hawks before). Perhaps some combination of this land plus Miami School Board land?

Obviously
5 years ago

I don’t think you would mind seeing a Soccer ball being kicked around in the Marlins stadium, would you? An area like this which could easily contain two to three thousand afforable residential units would make more sense to build than a soccer stadium, in my opinion.

defamed
5 years ago

There are already thousands of affordable homes just west of this plot and no one wants to live there because of the crime rates. A massive stadium along with retails and hotels would be ideal to change the character of the neighborhood.

Anonymous
5 years ago

Just like the baseball stadium did?

Obviously
5 years ago

Thanks, that’s an excellant retort.

Adrian
5 years ago

um. Actually, yes. That area has vastly improved and continues to do so. Rome wasn’t built in a day, but if you tell me that the area by Marlins Stadium is as blighted today as it was just 5 years ago, then you really have no idea what’s going on.

defamed
5 years ago

The Marlins Stadium has no retail, hotels, or offices. It’s just the stadium, and even so it has considerably improved the area.

Anonymous
5 years ago

Ouch, glad bayview was never built reminds me of the old omni, look at that blank wall.

Obviously
5 years ago

This is wonderful news concerning that mostly empty and desolate area. 3 million square feet of rental residential units priced at just a bit below market rate would be an incredible jump in activating the true hidden potential of what I view as the AA Center quadrant, as well as giving a much needed helping hand to those between the ages 25 – 35 who are trying to make it out here but are straddled with large financial education loan debts. Many of them want to stay in Miami, they don’t want to leave, but incentives need to be in place that will cause the younger generation to consider staying put.

My2Cents
5 years ago

With all things being considered, these developers are constantly building condos left and right (some over priced) for the locals buyers…why not build something that will create or increase the local economy or affordability for local Miamians?… There is no recreational places in the for children and teens apart from shopping plazas, restaurants and clubs…parents also invest on their children’s recreation? we weren’t all made to sit down all they long?

Anonymous
5 years ago

i’m going to assume you were not the prson who just spent 60 million buying the lot.

Obviously
5 years ago

Your entire comment is very poorly written and what ever your premise is, it lacks any kind of logical sense.

Anonymous
5 years ago

go home my2cents, you’re drunk lol

My2Cents
5 years ago

immediate profit earnings is the name of the game…so the casino proposed didn’t fly-even with the incentive of creating jobs, then again who is really concern, I guess everyone can’t win? logical sense is people should invest thinking about long term…what’s wrong with that, having ghost buildings? What will 600 additional living spaces cost if locals don’t have jobs to maintain it.. Oh I forgot everyone is rich enough to timeshare? (P.s. don’t take what I right personal unless you are affected by it 😉

Obviously
5 years ago

Oh, don’t worry, I won’t take anything you “right” personal.

Water sports
5 years ago

Hahah. Lampooned

AJT
5 years ago

I have a feeling the Beckham group was behind this deal. It had previously been mentioned as a great potential site in a Herald article last February. The 7.35 acres in this deal + the two acres of parking lots owned by the school board (which will be negotiated after an announcement in March) would equal the approximate 9 acre footprint the Beckham group originally was targeting. The land is downtown, in an up and coming neighborhood right by Mass Transit (the Metromover). If that doesn’t match what MLS’ requirements for our franchise, I don’t know what will. While the price tag was high for the land, Beckham has been rumored to be bringing in several big name investors.

Let’s go Miami! This could be big news!

Obviously
5 years ago

This area is zoned for residential, retail, and office space. The benefits from a soccer stadium for this area would be very paltry compared to the 3 million square feet of residential and business entities that it’s already zoned for. Sixty four million dollars for 7.35 acres of land in that area in this very hot residential market, are you kidding me? If it were me who purchased it, I wouldn’t be wasting a second of my time thinking about a soccer stadium because other types of developments would be much more lucrative for my money.

marc
5 years ago

I agree but im pretty sure any new soccer stadium will more than likely incorporate other revenue streams like retail and who knows what else regardless of location.

Obviously
5 years ago

If soccer can be a definite draw for retail, then soccer would be a cash cow for all of that empty retail space at the Marlins Baseball Stadium.

There is a stadium in Miami that can really benefit from the presence of soccer if some people really think soccer is a can’t miss, it’s called the Marlins Baseball Stadium. If you want to improve someplace and also uplift the spirits of the tax payers in MiamiDade, lets start there. Heck, it’s even got a soccer field outside on it’s grounds!