Magic City Innovation District is Miami’s newest emerging neighborhood for technology, health & wellness and sustainability. Here, Motorsport Tower sits among 18 acres of planned development in Miami’s newest innovation district with over 8 million square feet of real estate. Located just north of Wynwood and the Design District, Motorsport Tower is minutes from major highways such as I-95 and I-195, South Beach, Miami International Airport, Downtown Miami, Edgewater, and Biscayne Boulevard. Its proximity to other cultural hubs within the Greater Miami area makes the Magic City Innovation District a focal point. With its future potential, the location offers the benefits of an economic opportunity zone which allows investments, under certain conditions, to be eligible for preferential tax treatment.

AN AREA OF OPPORTUNITY

Motorsport Tower, located at Magic City Innovation District, is part of a federally designated Opportunity Zone. This designation encourages long-term investments in emerging communities nationwide and provides benefits to further development and allows investors to receive tax incentives for re-investing their capital gains into the zone. Investors can defer and even reduce federal tax liability on the sale of appreciated assets if gains are planed into a new vehicle called an Opportunity Fund. These funds pool capital into equity investments in small businesses and real estate. Currently, there are no caps on the amount of capital that could be made available through investments in this area.