Downtown Doral graduates from realty project to city core
If you ask Ana Codina Barlick, CEO of Codina Partners, the biggest challenge she faces in developing Downtown Doral is finding a comprehensive way to describe its magnitude.
“It’s not a project at all anymore; it’s the downtown of a major municipality of Miami-Dade,” Ms. Codina Barlick said.
Codina Partners, real estate investment and development firm behind Downtown Doral, first developed the space as a 120-acre suburban office park. It then added 130 acres when Codina acquired the White Course, a golf course directly south of the original space, with Lennar.
The current plans for Downtown Doral outline over a million square feet of office space, 250,000 feet of retail space, well over 5,000 units of varying sized residential spaces, a Publix, and free education from kindergarten through high school, Ms. Codina Barlick said.
“With every component of Downtown Doral launched, the development is evolving at the rate of a city,” Ms. Codina Barlick said.
“In the residential sector we have a lot of units and we’re moving forward with various product types,” Ms. Codina Barlick said.
When completed, Downtown Doral will have single-family homes, multi-family homes and condominiums.
Codina Partners currently has two complete condo projects in the area: 5252 Paseo with 203 units and 5300 Paseo with 219 units, which are completely sold out.
“The next condo, 5350 Park, will break ground over the next few months, and we estimate that the building will be completed in 2019. It’s already 50% sold out,” Ms. Codina Barlick said.
When Codina Partners and Lennar purchased the golf course, they split the land 50/50. CC homes, Codina’s homebuilding affiliate, is to construct various single-family homes in its space to make up the Residences at Doral.
The Residences are to have six residential collections that buyers can choose from.
“We’re doing the infrastructure work right now, and we’re in pre-construction sales,” Ms. Codina Barlick said. “Lennar has not started to sell their product just yet.”
“We’re trying to focus on single-family homes in particular right now because the amenities at Downtown Doral appeal to permanent residents,” Ms. Codina Barlick said.
“We received a lot of feedback during the condo building process that people want more single-family homes. They want luxury living in an urban center.”
Like the residential sector, the retail sector in Downtown Doral has a big project up ahead.
“We just broke ground in July on the second phase of retail shops that will add about 50,000 square feet of retail shops to the already existing 80,000 square feet of space,” Ms. Codina Barlick said.
Codina is in the process of leasing the new space.
When Codina Partners purchased the original property, it was a 32-building office park. To build out Downtown Doral, Codina demolished all but the four newest office buildings, now referred to as their legacy buildings.
With all of the additional components growing, Codina Partners has not forgotten where Downtown Doral came from, and is planning on extending the original office space further.
Five office buildings are on site and three more are on the way, Ms. Codina Barlick said.
“Then we built 8333 Downtown, and we are adding three additional office sites. One should break ground sometime next year,” Ms. Codina Barlick said.
Downtown Doral was created with the whole family in mind, and the elementary charter school, Downtown Doral Charter Elementary is just the first phase in the educational component of the mini-city.
“The residents receive enrollment preference, and it is the ultimate amenity for families to have access to a quality curriculum,” Ms. Codina Barlick said.
“We are planning on breaking ground on a middle and high school early next year that would take the curriculum from kindergarten through high school graduation,” Ms. Codina Barlick said.
Ms. Codina Barlick heads the board of the charter elementary school and hopes to continue its short, but strong, commitment to excellence.
“After opening the doors to our charter elementary school in 2015, we are one of the top five public charter schools in Miami-Dade County,” she said.
The elementary school has about 900 students and grades 6-12 will accommodate an additional 1,300 students.
Asked about the timeline for the development, Ms. Codina Barlick replied, “Is a downtown ever really finished?”.
“Our current plans extend another five years or so, but it will always be evolving,” she said.
“We’re really focused on the local market and we believe this is the best value proposition in Miami-Dade County right now for a single-family home,” Ms. Codina Barlick said.
“We’re selling brand new homes for the same price as a home that needs a lot of work in Pinecrest. There’s excellent education at no cost to the family, and everything is a walk or bike ride away.”