A new proposed state law could potentially lead to increased demolitions in coastal cities, which is seen as a troubling development. The law would limit the local government’s control over building regulations, and it would allow private developers to demolish buildings. Critics argue that this could lead to excessive development and demolitions, particularly in environmentally sensitive areas. Coastal cities, which are already facing challenges due to rising sea levels, are likely to be the most affected by the proposed law. Miami Beach would not be protected and all the Art Deco buildings may be impacted.Read the rest of this entry »
Tag Archives: real estate trends
How developers have to be creative to lure new tenants?
Luxury real estate developers offer amenities programming to entice tenants to pay high rents. This programming goes beyond the usual perks of a gym or a pool and includes activities like cooking classes, terrarium building, and happy hours. The idea is to provide tenants with a social life and personal taste, without them having to leave the building or deal with other problems that can occur in a city such as traffic or transportation.Read the rest of this entry »
Tom Brady and Gisele Bündchen’s South Florida real estate portfolio
Tom Brady and Gisele Bündchen are undoubtedly one of the most influential and successful celebrity couples in the world. In addition to their impressive careers, the couple has also built an impressive real estate portfolio that spans across several states, including South Florida.Read the rest of this entry »
Why are developers choosing Wynwood as the perfect spot for their co-living projects?
Wynwood has been transforming from a tourist attraction to an actual innovative living area. With amazing business ideas, this neighborhood is now home of preconstruction of co-living apartment buildings with world-class shared amenities and service which has been extremely appealing to more than one public.
One of the main developments taking place in Wynwood right now is the $46 million /1.6-acre terrain purchase at 2431 NW Second Avenue in Miami. Developed by Property Markets Group (PMG) in partnership with Greybrook, this project will be an 8-story mixed-use development with retail spaces, hotel rooms, rooftop bar, restaurant, and over 220 rental apartments from which 30% will be co-living spaces where tenants will have the possibility of renting by room and have some world-class shared common areas. This project promises to be similar to X Miami, the 32-story Hotel & Residences in Downtown.
Why are Foreigners disregarding the U.S. real estate?
Foreign buyers in the U.S. have dropped by half in 2019 compared to the previous two years. Only in 2019 compared to 2018 there was a decrease of -36% in residential real estate, foreigners only spent $78 billion in 2019 compared to $121 billion in 2018.
Fewer foreigners buying residential homes in the US has pushed a decrease in listing prices. With lots of inventory and no buyers to fill them up, the market has switched from a seller to a buyer’s market. It is shocking the magnitudes of the drop as we have reached the lowest level of foreign residential investment since 2013.
Why are stilts houses the new trend in Miami?
It’s not the first time we mention how climate weather is affecting Miami’s landscape. In our article “Miami’s great initiatives to combat climate change” we explained how Miami’s local government is developing new ways to reduce the long-term risk of flooding and stabilize the region’s economy. This time I wanted to explore a little deeper one innovative development that is reducing the flooding risk and is creating a cool trend at the same time!
Why New Yorkers aren’t thinking twice before moving to Miami?
We’ve been writing about how the Tax Cut and Jobs acted signed by Trump in 2017, has made Miami an investment paradise for Tax Refugees (wealthy buyers investing in South Florida looking for a tax break). New York has been one of the best examples of high tax immigration to the sunshine state. As a consequence, Florida is now the 3rd most populous state in the country.
However, this is not the only reason why people are moving to Miami and why the population has almost doubled since 1990. It seems logical for hard-working New Yorkers to think about their retirement and do the math of how long would their money last with the incredibly expensive lifestyle of the Empire State city compared to Miami.
How the Miami River has flourished?
It is known that all great cities have been built along rivers. New York, Paris, London, Chicago, are just a few examples. It would be impossible to say it is just a coincidence! There a lot of riverfront advantages that have helped the commercial developments of cities. The half-mile long Miami River is not the exception. Miami was meant to be one of those big metropolises.
The 5.5-mile long Miami River is one of the most unique and authentic features that characterize Miami nowadays. It is so hard to think that it hasn’t always been this way, but it is actually the case. In 1950 the Miami River had a really bad reputation as everyone considered it like a cesspool. It was the last city in the U.S that pumped sewage into the river. It was only used for hosting cargo ships and marine repairs. Nowadays the story is completely different.