New North Town

About New North Town

New North Town Center is one of the largest fully entitled mixed-use development sites available in Miami-Dade County. The ±17.81-acre net site (±19.68 acres gross) is vested under a recorded 30year Development Agreement for up to 1,650 residential units, 175,000 SF of retail, 175 hotel rooms, 260,000 SF of office, and a 2,000-student school. The current approved site plan delivers 1,296 residential units across three standalone, independently financeable phases, plus a dedicated school parcel and a separate retail/office/hotel pad — a complete master-planned community ready to execute on day one. Strategically positioned at the corner of NW 159th Street and West Dixie Highway in North Miami Beach, the property sits directly on the U.S. 1 / Dixie Highway corridor — the single most active multifamily development axis in the submarket. The site is bracketed by Aventura, Sunny Isles Beach, and Bal Harbour to the north and east, with Biscayne Boulevard (U.S. 1) running parallel less than a mile to the east. The Golden Glades Interchange — South Florida’s most significant transportation node and the convergence point of I-95, Florida’s Turnpike, the Palmetto Expressway, and U.S. 1 — sits approximately one mile to the west. The opportunity is defined by three structural advantages rarely found together: scale, entitlements, and timing. Contiguous, development-ready parcels of this size are virtually impossible to assemble in North Miami Beach. The property is fully approved under the City’s MU/EC (Mixed Use Employment Center) zoning, with a completed plat, finalized site planning, and approved architecture — eliminating the multiyear entitlement risk that defines most ground-up Miami sites. And the timing aligns with a submarket where 12-month absorption (540 units) has outpaced deliveries (440 units), pushing vacancy to 5.7% and creating durable rent runway as the corridor matures. See the Entitlement Upside section for the full vested-rights program under the recorded 30-year Development Agreement. The property is also located within a designated Qualified Opportunity Zone, offering qualifying investors the ability to defer capital gains taxes and permanently exclude appreciation on investments held for ten years or more. For an institutional sponsor or merchant developer, New North Town Center offers a phased execution strategy with embedded optionality: deliver the multifamily program in three discrete phases, monetize the commercial pads independently, and capture the 12% rent-to-Miami-average gap as the corridor continues to densify.