Miami's Little Havana Gets Some 'Magic' Investment

Canyon-Johnson Urban Funds, headed by former NBA Star Magic Johnson, is investing millions of dollars into the biggest condominium development to date in the Miami working class neighborhood of Little Havana.

1 minute read

October 12, 2006, 2:00 PM PDT

By Mike Lydon


"An investment fund headed by former NBA star Earvin ''Magic'' Johnson is taking a majority stake in the biggest condominium project ever proposed for Little Havana, in a bet that midpriced units close to downtown will draw buyers.

Canyon-Johnson Urban Funds, which is led by Johnson and business partner Bobby Turner, is investing in a 395-unit condo development with two 19-story towers called Morrison. The builder for the $120 million project is Miami developer mFm Construction.

The deal comes as the housing market has gone cold. But some developers think there remains a vast pool of prospective home buyers who were long ago priced out and are still looking to buy -- particularly near where they work."

Thanks to Senen Antonio

Wednesday, October 11, 2006 in The Miami Herald

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Get top-rated, practical training

Close-up of "Apartment for rent" sign in red text on black background in front of blurred building

Trump Administration Could Effectively End Housing Voucher Program

Federal officials are eyeing major cuts to the Section 8 program that helps millions of low-income households pay rent.

April 21, 2025 - Housing Wire

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

April 23, 2025 - Diana Ionescu

Ken Jennings stands in front of Snohomish County Community Transit bus.

Ken Jennings Launches Transit Web Series

The Jeopardy champ wants you to ride public transit.

April 20, 2025 - Streetsblog USA

Floor-to-ceiling rotating gates at Fairmount subway station in Philadelphia, Pennsylvania.

Crime Continues to Drop on Philly, San Francisco Transit Systems

SEPTA and BART both saw significant declines in violent crime in the first quarter of 2025.

April 28 - Mass Transit

South LA Wetlands Park in Los Angeles, California.

How South LA Green Spaces Power Community Health and Hope

Green spaces like South L.A. Wetlands Park are helping South Los Angeles residents promote healthy lifestyles, build community, and advocate for improvements that reflect local needs in historically underserved neighborhoods.

April 28 - ABC 7 Eyewitness News

Intersection in downtown Sacramento, California with neoclassical building with columns on left.

Sacramento Plans ‘Quick-Build’ Road Safety Projects

The city wants to accelerate small-scale safety improvements that use low-cost equipment to make an impact at dangerous intersections.

April 28 - The Sacramento Bee