Miami's Omni District
TBT (February 2, 2015) - Four years ago, the Miami Herald had an article about the revival of Miami’s Omni District, now rebranded the Arts & Entertainment District. Previously, the area was run down with vacant lots and was even used as a set for the movie Rock of Ages featuring Tom Cruise. Fast forward four years and the area now has the completed Square Station, Canvas Condo, the under construction Art Plaza and Miami Plaza with more future development on the way.
After many purchases of vacant land in Miami's Omni District, the area looks to be heading towards a rebirth, according to the Miami Herald.
The neighborhood is located just North of Downtown, but South of Wynwood, Midtown and the Design District. Recent purchases in the area include 1400 Biscayne (Auberge Residences & Spa), Melo Group's land at NE 14th St & NE 1st Ave, and a $64 million transaction just South of the Miami Cemetery.
Land prices were around $60 a square foot five years ago have increased to $390 a square foot, but developers believe condos can be cheaper than Downtown, Brickell and Edgewater.
