Invest: Miami speaks with Armando Codina, Chairman, Codina Partners

March 2015, Miami, Real Estate & Construction

Alex Wertheim
Doral’s growth story is linked to the growth story of Miami-Dade. The highest employment concentration in Miami-Dade County is Airport West, the area where Doral lies. Carnival Corporation is headquartered in Doral, along with major media companies like Miami Herald and Univision, as well as the Federal Reserve, U.S. Southern Command, and a thriving logistics sector. Employment opportunities have brought an influx of residents into the city – as have greater affordability and a strategic location – both foreign and domestic. In recent years, Venezuelans, fleeing political and economic crises in their country, have come to Miami-Dade and settled in Doral. For them, and for many Latin Americans, the proximity to the airport is a great attraction and a reason to buy homes and start businesses here.
If Doral was to become a great city, it needed a heart, and a downtown is the heart of any city. This is why we’re building Downtown Doral. Doral is the first city in Dade County that offered the opportunity to build a core – a downtown – from the ground up, and for a developer, this is truly special. We are creating a master-planned community that includes high-end shopping, dining and living options, as well as the supporting infrastructure – bike paths, sidewalks, public green spaces etc. With so many businesses that also call Doral home, we have taken special care in developing the new office space that will be included in the project, creating a modern campus feel.
This project also features a great example of a public-private partnership (PPP) – Downtown Doral’s collaboration with Miami-Dade County Public Schools to build a charter school. In this arrangement, developers provide the land and finance the construction, while the school board administers the school. Private sector execution allows for greater efficiency, while public sector management allows all parties to benefit from the expertise and accomplishments of the county’s award-winning school board. The new school will be an added draw for prospective residents seeking an affordable community with strong infrastructure, while it allows the county to earn additional revenue from operating the school.