A pair of private developers are looking to build a technology and cultural hub in a faded manufacturing neighborhood in Miami.

South Florida-based commercial real-estate brokerage and developer Metro 1 is working with private investment firm Dragon Global to develop a 15-acre mixed-use project, called Magic City, in Miami’s Upper East Side.

The goal is to attract a community of innovators and entrepreneurs to live, work and play in a walkable campuslike neighborhood that attracts technology companies and retailers, said Metro 1 President and Chief Executive Tony Cho.

The project is currently self-funded but over time the developers will look for long-term debt and equity partners, they said.