NY Company Breaks Ground On Lyric Point In Overtown

A New York developer says they have broken ground on Promenade At The Lyric.

LargaVista Companies is building the project, ahead of an upcoming deadline to begin construction or have the land revert to CRA control. The Overtown CRA has been criticized for cutting a deal that was too favorable to the developer, including land and construction subsidies.

The project includes 26,850 square feet of strip-mall style retail, along with 28,150 square feet of office. Kobi Karp is the architect.

LargaVista Acquires Control of Lyric Point Project in Miami
10/23/17
LargaVista Companies, a New York based 2nd generation real estate development and investment firm, announced today that it has commenced construction on Lyric Point, a 55,000 sf 2-story retail and office building on NW 8th Street adjacent to the historic Lyric Theater and directly across from MiamiCentral.

Lyric Point constitutes Phase IV of the Development Agreement entered on December 17, 2012 between Southwest Overtown/Park West Community Redevelopment Agency and Lyric Development LLC, an affiliate of The Gatehouse Group, Inc., an industry leader in the development and management of apartment communities and the developer of The Plaza at the Lyric located directly to the North of Lyric Point.

LargaVista CEO, Marcello Porcelli, enthusiastically stated, “This acquisition fits perfectly into our multi -generational strategy of acquiring assets located in expanding urban centers with tremendous long-term development upside. Gatehouse and the Overtown/Park West CRA trusted us to execute on a plan which fulfills the current obligations of the Development Agreement rather than to seek an extension with the CRA and the County to pursue an alternate and uncertain development scheme. We plan on being a good neighbor for the long run, respecting the culturally rich heritage of this community with an eye toward investing in and contributing to the continued growth of downtown Miami and its vibrant commercial core.”

Marketing of the Kobi Karp-designed Lyric Point will be managed by Zack Winkler and Eric Groffman of JLL. “The site presents a great opportunity for a number of users – both on the retail and office fronts,” said Mr. Winkler. “Being across from Miami Central and the Miami World Center puts Lyric Point right in the middle of all of the exciting developments happening in Downtown Miami.”

The General Contractor for the project is NV2A, a recently formed progressive construction management firm transforming the vertical building and civil industries in South Florida whose partners enjoy a combined 150 years of experience in the business.

Clarence Woods, the Executive director of the Overtown/Park West CRA proclaimed that “Lyric Point would play an important role in the continued evolution of this community and that LargaVista and NV2A are committed to support local hiring and have already hosted two job fairs at the CRA headquarters.”

LargaVista was represented by its long time General Counsel, Seth Friedland and locally by Carlos Lago and Iris Escarra of Greenberg Traurig.

This is the first major project in Miami for LargaVista which owns several million sf of prime New York City commercial, residential and industrial property. The company invests not only for its own account but also in collaboration with national development firms such as the Related Companies and Lowe Enterprises. “This was a great opportunity to immediately navigate the local development waters on a project of a manageable scale while we continue to seek out other major opportunities in what we believe is one of the most exciting markets in the world,” continued Mr. Porcelli.

Construction of Lyric Point is anticipated to be complete in September of 2018.

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Anonymous
3 years ago

A complete wasted opportunity to built something with some sort of dignity. I didn’t the 70’s shopping plazas were trendy again.

MIAMI
3 years ago

Mr. Architect, please, show me what you do there. Enlighten us.

Anonymous
3 years ago

Oh, it’s Mr. Smartass again. For one, you can certainly go a lot higher here with a mix of market rate and workforce housing, especially if subsidies were given for this crap. Do you even know the difference between a developer, architect, and planner?

Anonymous
3 years ago

You know the built this to comply with development agreement. This building coming down in a few years to make way for some Towers!!!

Anonymous
3 years ago

It’s older than that. It’s been there since the 50’s I think (which would have made it cutting edge back then).

Anonymous
3 years ago

You mean the Lyric Theater? It’s from the 1920s and while quite modest, was a major accomplishment for the black population.

Anonymous
3 years ago

Really?…for the people who designed and built pyramids in Egypt, this is a “major accomplishment?”

Anonymous
3 years ago

OMG are you trolling? The Black Egyptian hypothesis
has to be the most debunked claim in modern anthropological history. I’m not discrediting black civilization, but it should be where it’s due, like the Mali or Benin Empires.

Anonymous
3 years ago

You’re right, the “Black Egyptian” hypothesis has been debunked for a very long time…they’re actually black people called Africans living in a place known as Kemet. You see, there are people like who have always hated that so called Egypt (which is a Greek term) has always sat on the continent of Africa all day long, 24/7. And don’t worry, you can’t discredit what is actual fact…just learn some real history before you start spouting bullshit!

Anonymous
3 years ago

Is everybody in Asia what we call “Asian?” No. The same applies to Africa. There’s this little place called the Sahara Desert, which prior to the invention of the chariot, could seldom be crossed. When it was and the Semitic North Africans had contact with the black sub-Saharans, their interactions are clearly depicted. In fact, the mixing of both peoples created Nubia, which you might be referring to.

Anonymous
3 years ago

People used to cross deserts on chariots?…bahhhh, hahahahahah, bahhh, hahahahahaha, bahhh………….

Marc305
3 years ago

It may not be what most people want but it is an improvement on what was there before… one block at a time.

SRS
3 years ago

Suburbia in downtown….not very smart

Anonymous
3 years ago

it’d be fine if there was just no surface level parking

Anonymous
3 years ago

What a load of fluff for something that looks like a suburban low-rise office building in Doral.

Anonymous
3 years ago

Yeah, if this were anywhere else it wouldn’t even get press. Mehs all around…

Anonymous
3 years ago

The more projects we can get into Overtown, the better…previously no developer would go near it.

Anonymous
3 years ago

You do Overtown was originally called “colored town” because that’s were black people were forced to live, due to the fact that white people everywhere in Miami were all “nimby’s” don’t you?

Anonymous
3 years ago

correction: I meant – “You do know”

Anonymous
3 years ago

Actually it was called negrotown and most hispanics in Miami are white so I guess your referring to the current Miami mayor that didn’t even want to fund Miami central.

Anonymous
3 years ago

Yep, you’re a Trump supporting republican.

Anonymous
3 years ago

…and you’re a butthurt Hillarybot or Bernout.

Anonymous
3 years ago

That’s better than voting for and always being Trumped by the conman you voted for.

Anonymous
3 years ago

Looks like Karp is channeling the Biscayne Plaza Shopping Center at 79th and Biscayne http://bit.ly/2yMdVm4 Nothing exciting there or here. Sadly.

Anonymous
3 years ago

Welcome to miami baby!
Nice project for that area.
Overtown is THE next hot area.

Anonymous
3 years ago

Foolish prole! We all know Opa-Locka and Liberty City are platinum mines just waiting to be tapped.

Anonymous
2 years ago

it is not a comment I am looking for help to move my business to a bigger location if anyone know who can I speak to let me know

Anonymous
2 years ago

DOLLAR$CLAIRE WOULD LIKE TO MOVE TO A BIGGER PLACE RIGHT NOW WE ARE LOCATED AT 1525 NW 3RD AVE MIAMI FLORIDA 33136.