Central Shopping Plaza, located in Miami’s West Little Havana neighbourhood is being redeveloped into a 38-acre mixed-use project called CentroCity.
The CentroCity project includes 300,000sq ft of lifestyle retail and restaurant space and will be anchored by a 77,000sq ft Target store. The redevelopment is being undertaken by Terra – a South Florida based residential and commercial development firm – and will also include 1,200 residential apartments, green space and an office building.
CentroCity is expected to be redeveloped in a number of phases, which will begin with the redevelopment of the property’s shopping centre that will boast with a newly reimagined façade, common areas, landscaping and signage.
David Martin, Chief Executive Officer of Terra, commented: “Our mission at Terra is to improve communities through developments that fill a void in the market, and that’s exactly what we plan to do at CentroCity. Our goal is to enhance the underutilised asset and make it a more positive contributor to the community through low-impact infill development that will enhance the property while brining much-needed market-rate housing to the neighbourhood.”