From left, TSG Group managing partner Camilo Lopez, and Linéaire Group managing partner Diego Bonet, both based in Miami. Courtesy photos 

Two developers beat competitors to a coveted property in Miami’s growing Arts and Entertainment District by chasing the deal when others might have been more hesitant.

TSG Group and Linéaire Group, both based in Miami, paid $5.9 million for the 30,000-square-foot, six-lot vacant property at 1765 N. Miami Ave. on March 14.

They plan to develop an 18- to 24-story apartment tower with ground-floor retail. Construction is set to start in early 2020 and finish in early 2022.

The property northeast of Miami Avenue and 17th Street is in an opportunity zone, one of many areas across the U.S. poised to get an influx of investment under a change

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