MIAMI, Nov. 8, 2012 (GLOBE NEWSWIRE) -- Terra Group is pleased to announce the formation of Terra Skylar, a new investment entity that has acquired four parcels in Miami's hottest new neighborhood. The acquisitions form over a million square feet of development rights in the heart of Miami's vibrant Design District/ Midtown neighborhood.
"We are very fortunate to lock in this location in the midst of this neighborhood's renaissance," says David Martin, President and Chief Operating Officer of Terra Group.
Home to over 130 art galleries, showrooms and creative services, the Design District is historically recognized for its interior designers and artists and is adjacent to Midtown, which has become home to the Art Miami art fair during the internationally acclaimed Miami Art Basel week.
While specific plans for how the parcels will be used are still in planning stages, the vision of creating a mixed-use center that will support the growing demands of the neighborhood are in discussion. Strategically located at the gateway to the Design District/ Midtown neighborhood, Terra Skylar's proposed sites will boast second-to-none visibility, spanning as far as forty streets while also offering tremendous bay views.
"We already see that this neighborhood is where Miami's creative class of tomorrow wants to live, work and play," said David Martin, President and Chief Operating Officer of Terra Group. "With room to grow into retail, residential or hospitality, the possibilities for transforming this space are endless. We really want to get it right and create something that is special for the neighborhood, so for now, our focus is to maintain our current tenants that will preserve the authenticity of this neighborhood. This is going to be such an exciting project to work on; we know the bar is high to create something that pays tribute to the soul of this artistic community and puts the Design District/ Midtown neighborhood on the map."
For information on Terra Skylar please call (305) 416-4556.
About Terra Group
Design Driven – Neighborhood Focused – Successful Track Record
Terra Group is a leading Miami-based real estate development company that has continuously transformed South Florida into the metropolis known today. Terra Group has cultivated a reputation as a trendsetter adept at assembling teams of architects, landscape architects and others to create high-end residential, commercial, and mixed-use projects known for originality, attention to detail, and rich quality of community life. The company has developed residential and commercial units yielding in excess of two billion dollars in gross sales within the State of Florida. Terra Group is the recipient of the esteemed Developer of the Year award in 2009 by American Institute of Architects, Miami Chapter. For more information, visit www.terragroup.com.
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