Would Soccer Stadium Boost Miami's Real Estate Market?

MIAMI—Miami is still buzzing about plans for retired soccer star David Beckham and his partners to build a Major League Soccer (MLS) stadium in Downtown Miami—and probably will be for the months and years ahead as the project works through city approvals and construction. There's plenty to consider, from how the stadium could impact the area's real estate market to traffic and parking issues and more.

GlobeSt.com caught up with John Alschuler, chairman of HR&A Advisors—the urban planning consultancy behind the Beckham team's vision—to discuss these and other issues in part two of this exclusive interview. You can still read part one: How David Beckham's Vision Impacts Miami.

GlobeSt.com: Downtown Miami is undergoing a building boom once again. What does a new soccer stadium mean for the area's real estate market?

Alschuler: This project is a marketing trifecta for the Miami real estate community, aligning a global city with the world's most popular sport and David Beckham's international brand. That powerful combination is resonating with real estate investors, downtown developers, and local property owners.

At street level, members of the residential and commercial real estate community believe adding more park space and creating a continuous bay walk is a tremendous asset for downtown. And remember, many investors from Latin America and Europe have already seen first-hand how great public parks, museums, and soccer stadiums can enhance an urban core. We believe this model can work in Miami—and our owners are committed to investing more than $250 million to see it through.

GlobeSt.com: How does your plan address traffic and parking around the stadium?

Alschuler: Because the vast majority of MLS games take place on Saturday afternoons and evenings, we'll be activating downtown when it's otherwise quiet. A study by Kimley Horn found that there will be 10,000 parking spaces within a 15-minute walk of our stadium, which is more than enough capacity for our 20,000-seat venue.

We expect 20% of our fans will arrive by public transit or on foot, which is part of the urban experience we'll be creating. Our fans will be immersed in downtown from the time they exit the Metromover, to the time they enter the stadium, and when they visit nearby restaurants and bars following the match.

GlobeSt.com: Your firm, HR&A Advisors, has been involved in some of the nation's most significant urban projects of the past decade. How does Miami's downtown compare to other cities?

Alschuler: Our team has been fortunate to work on signature projects around the world, from the High Line and Brooklyn Bridge Park in New York, to Olympic Park in London. Miami is unique because the city has recently begun embracing the idea that the urban core can be a destination unto itself.

This is a result of new public and private investments in downtown infrastructure as well as the influence of people coming from other places who are accustomed to urban settings. As more residents and visitors arrive in downtown, the need for active public spaces and accessible waterfront will grow. Our plan for Museum Park addresses both of those priorities.

GlobeSt.com: What are the next steps in this process?

Alschuler: Our team's intention to bring an MLS team to Miami became public late last year and we've since seen an outpouring of support from local residents, businesses, and fans who are passionate about soccer and believe Miami deserves its own club. Now that we've identified the best site for this project, we're beginning to share our plans with city residents who will voice their support during a ballot referendum in November.

Once approved by voters, we'll go through permitting and environmental reviews at the local, state and federal levels. Everything we're hearing from the community indicates that Miami is ready to welcome an MLS team with open arms.