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

High-rise apartment buildings in Waikiki, Hawaii with steep green mountains in background.

Study: Maui’s Plan to Convert Vacation Rentals to Long-Term Housing Could Cause Nearly $1 Billion Economic Loss

The plan would reduce visitor accommodation by 25,% resulting in 1,900 jobs lost.

April 6, 2025 - Honolulu Civil Beat

People sitting and walking in plaza in front of historic Benton County Courthouse in Bentonville, Arkansas.

Placekeeping: Setting a New Precedent for City Planners

How a preservation-based approach to redevelopment and urban design can prevent displacement and honor legacy communities.

March 28, 2025 - Emily McCoy

Rusty abandoned oil well and equipment with prickly pear cactus next to it in West Texas.

Using Old Oil and Gas Wells for Green Energy Storage

Penn State researchers have found that repurposing abandoned oil and gas wells for geothermal-assisted compressed-air energy storage can boost efficiency, reduce environmental risks, and support clean energy and job transitions.

March 31, 2025 - Pennsylvania State University

Two people on bikes riding down paved Burke-Gilman bike trail in King County, Washington on a sunny day.

Washington State Plans Ambitious ‘Cycle Highway’ Network

The state is directing funding to close gaps in its existing bike network and make long-distance trips more accessible.

1 hour ago - Momentum Magazine

Small green ADU cottage in lush backyard in San Jose, California.

Homeowners Blame PG&E for Delays in ADU Permits

The utility says it has dramatically reduced its backlog, but applicants say they still face months-long delays for approvals for new electrical work.

2 hours ago - San Francisco Chronicle

Large oak tree in meadow with sun filtering from behind it in Angeles National Forest.

Rethinking Wildfire Defense: How a Landscape Approach Can Protect Neighborhoods

Post-fire analysis of the Eaton Fire reveals that a landscape approach — including fire-resistant vegetation, home hardening, and strategic planning — can help reduce wildfire risk, challenging assumptions that trees and plants are primary fire hazards.

3 hours ago - ASLA The Dirt