Genting Group Sells A+E District Site for $20.9M in Major Opportunity Zone Deal

In a headline-making move that underscores the momentum of Miami’s urban transformation, a key 0.8-acre assemblage in Downtown Miami’s Arts & Entertainment District has changed hands in a $20.9 million transaction. The site — comprising six contiguous parcels — was sold by Genting Americas, Inc. to A&E District Holding Company, LLC, a subsidiary of SF QOZ Fund I, LLC. This landmark acquisition paves the way for a luxury, mixed-use development that will rise at the gateway to the city’s most ambitious public infrastructure projects: the Signature Bridge and the 33-acre Underdeck Greenway.

“This isn’t just a development site – it’s an opportunity to redefine urban living in one of Miami’s fastest-growing neighborhoods,” said Liam Krahe, Co-Managing Principal of SF QOZ Fund I. “We believe these parcels are situated in one of the most strategic, urban-core locations left in Miami.”

The newly acquired site, which spans 35,544 square feet, includes the addresses 1525 and 1515 NE Miami Place, 75 NE 15th Street, and 1502–1516 NE 1st Avenue. It sits within a federally designated Qualified Opportunity Zone — a distinction that not only enhances its investment appeal but also offers developers and investors significant tax incentives, including the potential to defer or even eliminate capital gains tax on qualifying investments. These zones have become hotbeds for smart development, especially in fast-growing metro areas like Miami-Dade County.

“With billions in public infrastructure, improved connectivity, and massive demand for multifamily rental housing, this is one of the rarest and most exciting real estate development opportunities in a Miami Qualified Opportunity Zone,” added David Cohen, Co-Managing Principal of SF QOZ Fund I.

The timing could not be better. The site is positioned at the intersection of culture, entertainment, and mobility — just steps from Biscayne Bay, Miami Worldcenter, the Adrienne Arsht Center, the Kaseya Center, and the future Underdeck Greenway. The Underdeck, inspired by iconic projects like NYC’s High Line and Atlanta’s BeltLine, will transform a 33-acre corridor beneath the Signature Bridge into a lush, pedestrian-friendly park, uniting neighborhoods and injecting a new layer of connectivity into Downtown Miami’s urban core.

Construction on the mixed-use tower is expected to begin in early 2026. The development will include luxury multifamily apartments and ground-floor retail — a blend that speaks to the area’s demand for upscale, live-work-play environments. Spearheading the project is a joint venture between McCaffery Interests and Grandview Development Co., both of whom bring national reputations for executing high-quality, transit-oriented developments.

As Miami continues to evolve into a global capital for finance, lifestyle, and innovation, this project stands as a bold investment in the city’s future — one that blends architectural ambition with economic opportunity, and urban revitalization with long-term value.