After years of waiting and plenty of buzz, construction crews have finally started work on Mirai Design District, the high-profile mixed-use project by Japanese architect Kengo Kuma that developers say will be his first mixed-use building in the United States. Backed by a fresh $85 million construction loan, the plan is to stitch together boutique retail, restaurants and Class A office space across several parcels on Northeast Second Avenue, giving the Miami Design District a new architectural statement piece.
Loan and groundbreaking
The start of construction followed the closing of an $85 million construction loan from Chicago-based Monroe Capital, a deal that moved the project from permits to shovels in the ground, according to The Real Deal. Developers told the outlet that lender familiarity and advisory work pulled the financing together through WellDuō and Berkadia. The Real Deal also reported that the groundbreaking came after roughly two years of delay tied to design revisions, entitlement work and the search for a high-profile tenant.
Design: a floating lantern
Kengo Kuma’s design for Mirai is pitched as a “floating lantern,” with a transparent ground floor, a layered façade and a central garden that blends architecture and nature to create pedestrian-facing micro-experiences. That language and the project’s visuals appear on the development’s official site, Mirai Design District, which highlights modular bays for boutique brands and an artful public realm. Mirai is billed as Kuma’s first mixed-use scheme in the United States and is framed as a sculptural, pedestrian-friendly counterpoint to the district’s luxury shopping streets.
What’s being built
Marketing materials describe Mirai as a three-story building of roughly 65,000 square feet, with about 16,000 square feet of retail on the ground floor and roughly 40,000 square feet of office space above. The plan calls for a sculptural garden element as the physical centerpiece and modular office and retail bays geared toward design, hospitality and lifestyle brands. WellDuō lists the building size, site area, notes active leasing and cites a May 2026 groundbreaking marker for the project.
Site assembly and partners
Developers say they spent years stitching together parcels along Northeast Second Avenue to create the Mirai site, folding Lionheart’s existing office at 4218 NE Second Avenue into the overall footprint. Lionheart Capital identifies the project in its portfolio and lists the addresses tied to the assemblage. The joint-venture partners — Lionheart, Leviathan Development, WellDuō and The Lane Organization — position Mirai as a complement to the Design District’s mix of luxury retail and cultural programming.
Why the Design District
The development team is targeting family offices, small funds and design-focused companies that want high-quality, smaller-footprint offices close to high-end retail and cultural amenities. Industry coverage has tracked a steady flow of boutique financial and creative firms to South Florida, driven by tax policy, lifestyle choices and tighter office markets, as discussed in Connect CRE. Local market writeups also point to a tightening Miami office market that is boosting demand for curated, design-forward product, according to HawkinsCRE.
What’s next
With construction now underway, developers and leasing teams are expected to focus on tenant outreach and on-site work through 2026, with delivery now projected for 2028. The Real Deal reported the updated completion target and noted the earlier delays linked to design revisions and entitlements. Leasing contacts and a priority list for interested brokers and brands are available on the project’s site, per Mirai Design District.
