Miami-Dade plans metromover route to Miami Beach within potential $3.6B transit plan
Miami-Dade has mapped out the six corridors of its Strategic Miami Area Rapid Transit (SMART) plan, per Miami Today, with a potential cost of up to $3.6 billion. While the funding sources haven’t been sorted out yet, among the plan’s highlights is an elevated Metromover along 3.3 miles of the MacArthur Causeway, connecting Museum Park Station in downtown Miami to a new station at Fifth Street and Alton Road in Miami Beach. Other components include five at-grade routes, which would obviously be more cost effective…
Brickell getting unique mixed-use development near I-95
Work may begin soon on a unique mixed-use development in the shadow of I-95. Called Megacenter Brickell, the project plans to combine multi-family apartments with office, retail, self-storage and parking on a high-profile site where the Brickell area meets East Little Havana. The project is to include two buildings at 420 SW Seventh Street and 427 SW Eighth Street, from Megacenter Brickell LLC, which is affiliated with Megacenter U.S. Pablo Wichmann, president of real estate, said the company is lining up its final permits…
Politics strain Trump’s friendship with Jorge Pérez
Political differences have strained the long friendship of President Donald Trump and Miami-based real estate developer and art philanthropist Jorge Pérez. Since Pérez called Trump’s plan to build a Mexican-border wall “idiotic” in a Jan. 31 Bloomberg News article, the president has stopped responding to emails from the top executive of Miami-based Related Group, the New York Times reported. Pérez opposes Trump on other issues, including the president’s support for a possible reversal of the U.S. trade opening…
Strategic Miami Area Rapid Transit plan firmed up
Miami-Dade officials have just mapped out their overarching Strategic Miami Area Rapid Transit (SMART) plan, eliminating some key unknowns, but are still analyzing where to find money to fund its six corridors. For the first time, now plans include price tags, up to $3.6 billion. Commission Chair Esteban Bovo Jr.’s Policy Council Committee, which he said was set up to discuss such pressing priorities, including transportation, met for the first time last week. For transportation, it’s important to speak about funding, Mr. Bovo…
Is Allapattah The Next Hot Miami Neighborhood?
The working-class enclave is the newest chapter in the by-now familiar Miami story of gentrification: first come the edgy art people, then bars, and finally big investors snapping up properties and planning big projects.
Miami Costco Could Be Replaced By Health Care Campus
The Costco Wholesale store just southwest of Miami International Airport could be replaced by a health care campus featuring medical offices and senior housing. Miami-Dade County officials received a pre-application on Feb. 8 by 8300 Healthcare Partners, managed by Michael Wohl and Stephen A. Blumenthal, to building the project at 8300 Park Boulevard. The 11.3-acre site is currently owned by Costco (Nasdaq: COST) but it is under contract to the applicant, who would demolish the 146,599-square-foot store from 1989.
Governor Scott Offers $10 Billion For Transportation Spending, PortMiami In Proposed Budget
The Governor wants to allocate $19 million to PortMiami for crane and cargo improvements and $178 million for ports statewide supporting about 900,000 jobs.
Your property was hit with an ADA lawsuit – now what?
Over the last couple of years, Florida has seen a proliferation of lawsuits alleging violations of Title III of the Americans with Disabilities Act (“ADA”). Many of the cases are filed by “serial” filers – plaintiffs that have each filed dozens or even hundreds of lawsuits against various…
Miami’s 9 hottest developments under construction, mapped
Focused on Miami’s core neighborhoods like Brickell and Downtown While the state of Miami development appears to be cooling from its previously frenetic (and unsustainable) pace, the Magic City continues to balloon with high-rises under construction across a slew of active neighborhoods. Nowhere is…
Banks backing away from apartment projects
From the New York website: Banks are shying away from financing new apartment projects as supply starts to outpace demand. This year more than 378,000 new apartments are expected to be…
Portfolio Sales of Smaller Industrial Properties Surging as Institutional Investors Jump On ‘Last Mile’ Logistics Bandwagon
In recent months, major investors have increasingly turned their focus on light industrial properties capable of serving as “last mile” conduits in the race to achieve same-day delivery by e-commerce firms. Typically smaller, older and less efficient than their bulk warehouse counterparts, these…
H Greg Miami Leases 97,000 SF
H Greg Miami Inc. signed a lease for 96,920 square feet in the industrial building at 1900 NW 92nd Ave. in Doral, FL. The single-story, 145,260-square-foot Bristol Logistics Center was built in 1982 in the Miami Airport West Industrial submarket, within the Fingerlakes Industrial Park.
5 Apps That Are Revolutionizing the Commercial Real Estate Industry
Learn how to use your smartphone or tablet to help find and manage commercial real estate. With mobile Internet access having overtaken desktop access in 2014, according to comScore, it’s no surprise that apps are becoming more popular for all professions – including the commercial real estate…
BIM models help reduce risk, cut inefficiencies, and streamline the development, design, and construction process. For most construction companies and architectural firms, 3D building modeling is now the norm. And each year, more and more companies are taking advantage of the range of benefits from…
What To Expect From The Debt Markets In 2017
This is a good time to be a borrower, according to Jeff Erxleben, executive vice president and regional manager in the Dallas office of real estate debt and equity provider NorthMarq Capital. All types of capital providers—banks, insurance companies, conduit lenders and private equity funds—are…
Construction dispute between builder and company sparks lawsuit
Since Miami is such an attractive location, there will inevitably be a great amount of construction in the city. Businesses that wish to take advantage of tourism and the agreeable climate will seek to get a construction project going as quickly as possible. However, there are times when there will…
Florida Partition Law (December 2016 Update)
Within the State of Florida especially, it is common to encounter real properties encumbered to more than one party– be it by inheritance, speculative investment, marriage, or some other such instance of shared ownership or tenancy in real estate. When these relationships…
Miami artists team up for Wynwood mural project to bring awareness to sea-level rise
Partnering with local startup Saltmates, focused on fostering the ocean lifestyle and its community Miami startup Saltmates, an app focused on connecting nearby ocean lovers while also taking direct action on environmental issues, partnered with PangeaSeed Foundation’s Sea Walls initiatives last…
Yellen says more interest-rate hikes may be on the horizon
From the New York website: More interest-rate hikes may be on the way if inflation keeps rising and labor markets continue to tighten. Federal Reserve Chair Janet Yellen on Tuesday delivered her first semiannual report on monetary policy since Donald Trump took…