The developers planning the Magic City Innovation District have signed a utilities deal with Miami-Dade to supply water and sewer.
City records show a construction permit is also now being processed for the first building at Magic City.
According to the August 19 utilities agreement, the Magic City Innovation District will include:
283,827 square feet of retail
266,525 square feet of full service restaurant
2,348,728 square feet of office
49,170 square feet of mini-storage
10,849 square feet of bar/cocktail lounge
432 hotel rooms
5,583 square feet of gym/fitness center
The water and sewer connection charge is $5,536,142.91 based on August 2022 rates (to be recalculated based on rates when connected). There’s additionally a Biscayne Basin Sanitary Sewer Special Connection Charge of $3,358,118.16.
The construction permit application for the project’s first tower known as Parcel 11 was filed in May, with the plans submitted in July and now under review.
The Parcel 11 tower will rise 25 stories with 349 units. It was reviewed by the UDRB in November 2021.
According to the construction permit filing, Parcel 11 has an estimated hard construction cost of $111,859,451.