Miami’s historic Overtown neighborhood is undergoing a renaissance focused on changing the face of its community. With the recent opening of a 50,000-square-foot Target store in the new Sawyer’s Walk development, Overtown is not only becoming a growing retail hub, but also an example of revitalization and hope for its residents. This transformation is driven by large retailers with a community vision, transforming the future of an area that has historically faced significant challenges in terms of infrastructure and services.
The arrival of Target and other retailers in Sawyer’s Walk offers both shopping options and affordable housing.
The opening of Target store is part of a larger project aimed at transforming Overtown into an accessible and eye-catching hub.
«We are excited to announce the opening of Target and our other retail concepts, which will offer significant value to area residents,» said Michael Swerdlow, managing partner of SG Holdings.
This responds to the need of a community that has been neglected for so many years and is now filled with hope.
Sawyer’s Walk, designed by the major architectural firm, covers 130,000 square meters and includes 578 affordable housing units. This project is not only a refuge for those looking for a home, but also offers modern amenities such as «fully equipped kitchens, spa-style bathrooms, swimming pools and fitness centers.» This multifaceted perspective confirms that residents do not just have a home, but a wonderful lifestyle.
Target’s arrival, alongside other major brands like Aldi, Burlington, and Ross Dress for Less, is intended to create a hub for Overtown. «Since we conceived this project, we always had a vision of offering a robust retail experience that would serve the entire community,» Swerdlow said. Including a full-service Starbucks and CVS pharmacy inside Target, residents now have access to essential services close to home.
Accessibility and its value
The Sawyer’s Walk project also promotes accessibility. With nearly 1,000 parking spaces and several public transportation options, it «facilitates the mobility of residents and visitors throughout the city.» This is paramount in a city like Miami, where traffic can be chaotic.
A meeting place
Aside from its retail offerings, Sawyer’s Walk incorporates a 2,300-square-meter public park, which offers «art murals, children’s play areas and a dog park.» This place not only provides a breath of fresh air to the community, but also encourages interaction between residents, something that is fundamental to the social life of any neighborhood.
Art and culture
Including art in public spaces is an excellent idea to capture the attention of the community. This emotional interaction is vital for the well-being of neighbors and their commitment to the community.
The economy
Reviving Overtown not only has a social impact, it also sustains an economic impact. Creating new jobs in the complex’s offices and shops is a much-needed boost to the local economy.
Sustainability
The evolution of Sawyer’s Walk is an example of how the public-private nexus can translate into positive outcomes. «This project is the fruit of a collaboration between SG Holdings and the City of Miami, along with the Overtown/Park West Southeast Community Redevelopment Agency,» the creators say. This coordination is essential to implementing sustainable changes in the community.
Who is Michael Swerdlow?
Michael was one of the first developers of net leases, which he subsequently sold to pension schemes. His leasing experience led to Michael being engaged to liquidate a number of leases in failed retail entities such as Wickes, EJ Korvette, Food Fair amongst others. All of this served to transform the value of leases as assets for the retail industry.
In 1989, Michael Swerdlow acquired Hollywood Inc. from institutional investors. Swerdlow successfully created, redeveloped, and sold the entirety of Hollywood Inc. over a nine-year period.
In 1999, the Company strengthened its holdings in a new corporation called Swerdlow Real Estate Group, a private REIT in which shareholders included Swerdlow, Fidelity Investments, Colony Capital, Landmark Funds, Stanford Management and Merrill Lynch.
Following the liquidation of the REIT, Michael continued to develop large-scale projects including Biscayne Landing (land development), Civica Center (retail), and Marina Grande on the Halifax (multi-family buildings).
Other projects from the past 20 years include the Dolphin Mall, Dolphin Commerce Center (formerly Beacon Tradeport), Great Mall of the Bay Area and Las Olas Riverfront.
