Fintech Focus For March 4, 2021
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Fintech Spotlight: Meet Archax, The First Regulated UK Digital Securities Exchange
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MIAMI – Miami Mayor Francis Suarez held a news conference on Monday to announce the investors behind the Magic City Innovation District paid $3 million to the city’s Little Haiti Revitalization Trust.
Neil Fairman, of Plaza Equity Partners, said it was the first payment in a $31 million commitment. Plaza Equity is working with Metro 1 and Dragon Global on the $1.36 billion redevelopment project.
“Gentrification is real, but it’s moments like this that remind us that we have to create a Miami that’s not only here forever, but that it’s here for everyone,” Suarez said.
The new 18-acre “campus-like” project is on the eastern side of Little Haiti. It will be built in phases to include 432 hotel rooms, 2,630 residential units, and commercial real estate. The construction of Magic City’s first residential tower is set to begin in 2022.