Zillow Apartments for Sale +55 in Miami: Exciting Retail Developments in Overtown

The Overtown neighborhood in Miami is buzzing with excitement as new retail developments are taking shape. The latest addition to the area's commercial landscape is Block 55, a massive project that has attracted big-name retailers like Target and Aldi. Located at 249 Northwest Sixth Street in Miami, the site spans over 3.44 acres and features a unique blend of residential and commercial space.

According to reports, Target has leased 49,306 square feet on the ground floor of Block 55, which is also known as Sawyer's Landing. This marks a significant milestone for Overtown, as it brings a major retailer to the area. Aldi, another well-known retail chain, has also signed a lease agreement for 23,723 square feet of space on the sixth level.

But what makes this project truly unique is the clause in its lease that prohibits any competitors with revenue above $5 billion from taking space at Block 55. This move is seen as a strategic attempt to ensure that smaller retailers and startups have an equal opportunity to thrive in the area.

'We already have leases with Aldi, Target, Ross, Burlington, and Five Below,' said Swerdlow, one of the project's developers. 'We are starting construction immediately.'

Block 55's development team has also secured a $10 million deal to purchase the land from the Southeast Overtown/Park West Community Redevelopment Agency. The project is expected to undergo significant foundation work, which was recently approved through a permit filed by general contractor Coastal Construction.

As construction begins on this massive project, residents and business owners alike are eager to see what the future holds for Overtown. With its unique blend of residential and commercial space, Block 55 has the potential to revitalize the area and bring in new opportunities for local entrepreneurs and shoppers alike.

Zillow apartments for sale +55 in miami