In February 2023, FVP partnered with The John Buck Company of Chicago to acquire the 1.03-acre Opportunity Zone site for Hub Miami in the heart of Downtown Miami. The joint venture will undertake this project, comprising 301 residential units and 250,000 square feet of premier office and retail space, and is set to commence construction in the latter half of 2023. The site is adjacent to the Brightline and Metrorail stations and is in an area rapidly evolving into a vibrant, walkable live-work district.
Driven by a range of factors, including the COVID-19 pandemic, various business types have migrated or expanded to Downtown Miami, including financial services and technology companies from all around the country. Hub Miami is poised to capture a significant portion of the new demand due to its prime location, high-quality class-A office product, which is in scarce supply in the market, and its anticipated delivery schedule, which is well ahead of any other competing assets.
Address 533 NW 2nd Ave
Property Type Mixed-Use High-Rise
Description Urban Infill
Number of Units 301
Average Unit Size 686 SF
Office + Retail SF 250,000 SF
Parking Spaces 484
Parking Ratio 1.61 per unit
Completed (scheduled) Dec-25
Total Capitalization $323,600,000
Co-Developer The John Buck Company