Miami Beach, Fla. — Comras Co. has unveiled plans to develop a new micro-district to complement the north end of Lincoln Road, the retail high street of Miami Beach. Dubbed NoLi, the project will include 150,000 square feet of boutique retail, dining, wellness and lifestyle concepts, as well as 1,700 square feet of street frontage.
Comras Co. recently purchased five properties along Lincoln Road and North Lincoln Lane for the development of NoLi, in which Acore Capital provided a $117 million loan for the acquisition. NoLi will reuse the existing buildings and repurpose the outdated floorplans to create boutique-sized spaces, with layouts ranging in size from 400 square feet to 4,000 square feet.
Additionally, North Lincoln Lane will be transformed from a service alley into a “street off the street,” which will feature storefronts and expanded sidewalks lined with cafes, outdoor seating and landscaping.
Lincoln Road is also simultaneously undergoing a $29 million revitalization, which includes upgraded sidewalks, lighting, fresh landscaping and new outdoor seating.