Micro apartments may be coming to North Miami
North Miami may soon be joining other municipalities in South Florida that allow developers to build micro apartments. If approved by the city council in June, micro apartments could alter the character of the city, experts say. North Miami could go from a suburban, bedroom community to one that is more urban and able to attract younger residents. Land use attorney John Dellagloria told TRD that micro units are needed… working on a plan… at 950 Northeast 124th Street that will have…
Judge rules in favor of development at Jockey Club
A judge ruled that the owner of 14 acres at the 22-acre Jockey Club condo complex in North Miami can proceed with plans to build residences and hotel rooms there.
Miami-Dade Circuit Court Judge John W. Thornton ruled Friday in favor of Apeiron Miami, LLC, and against the condo owner associations of two existing Jockey Club condominium buildings, which had opposed Apeiron’s development plan at the condo complex at 11111 Biscayne Boulevard. Apeiron, led by Horst Schulze…
Doral Ranks Number One Among Fastest Growing Cities In The State
Recently released population estimates by the U.S. Census Bureau shows that many South Florida cities are among the fastest growing in the state, according to analysis by Florida International University’s Metropolitan Center. In fact, Doral ranked highly nationwide. With a 26.1 percent population increase from 2010 to 2016, Doral was the 11th-fastest growing large city in the nation. That was a gain of nearly 12,000 people for a city of 56,000. Nationwide, Georgetown, Texas…
Three sets of bidders compete for Rickenbacker Marina redevelopment
Three teams have submitted bids for the city of Miami’s latest attempt to redevelop Rickenbacker Marina on Virginia Key, The Real Deal has confirmed. This time around, RCI Group, the company that won a competitive bid last year that was nixed by city commissioners, is teaming up with the formerly second place finisher, Suntex. And, Aabad Melwani, the current operator of the Rickenbacker Marina is joining forces with Key International to also compete for the hotly contested…
AT&T Sells Site Near Shops At Merrick Park For $11 Million, Developer Plans Residential Tower
Mast Capital has acquired a Miami property near the Shops at Merrick Park from AT&T Florida for $10.9 million and plans to develop a residential tower. Camilo Miguel Jr., CEO of Mast Capital, said the 1.02-acre site at 3811 Shipping Avenue (birdseye aerial) is zoned for up to 20 stories and 153 residential units. He plans to build within the current zoning and include 15,000 square feet of retail. The property currently has a small telecommunications office and a parking lot…
Biscayne Beach’s neighbors sue over debris-related damage during construction
Around the same time Biscayne Beach in Edgewater received its temporary certificate of occupancy earlier this month, owners in a neighboring building took its developers to court. In a May 11 lawsuit filed in Miami-Dade Circuit Court, the condominium association for Bayside Terrace at 505 Northeast 30th Street accuses Biscayne Miami Partners, along with Plaza Construction Group Florida and Baker Concrete Construction, of damaging the building’s exterior, landscaping around…
A Look at Miami Office Investments
Experts and historical data aside, no one really has a crystal ball for timing the real estate market. And, arguably, in the President Trump era, with the verbal war on trade pacts that fill local buildings with multinational tenants, rising interest rates and tax reform approaches that could nix deductions and write-offs for commercial real estate owners, the timing game is more challenging this year. Despite the overhanging uncertainty, office investment conditions largely…
Miami Beach mayor proposes alcohol, noise policy changes for Ocean Drive
In an effort to curtail violence in wake of Memorial Day weekend violence “What we need to do as a city is to reform and clean up Ocean Drive,” announced Miami Beach Mayor Phillip Levine during an emergency press conference held Tuesday morning in wake of more Memorial Day weekend violence in South Beach. This past weekend’s brutality in South Beach included two shootings that left two dead (one was a police officer) over a parking dispute and a stabbing. Among the mayor’s…
Video: Green Street Believes Transportation Revolution Will Significantly Impact Commercial Property
In this commercial real estate related video, Dave Bragg of Green Street Advisors discusses the transportation revolution and its expected impacts on real estate. He provides a touch of added color through some real world examples and a few highlights of other disruptors that are key areas of focus for Green Street: Biggest disruptor of real estate revolution is transportation, the combination of ride hailing and driverless cars; Less car ownership; Less parking; Easier, faster…
How More Collaborative Workspaces Could Affect Demand for Commercial Property
Workspace evolution contributes to the CRE revolution. The world of work – or at least the world of the workspace – is undergoing a major evolution as a result of a changing workforce, technology, and the twists and turns of the modern economy. As a result, the commercial real estate market is also seeing a shift in demand due to how that space is utilized. CRE and the mobile generation. Advances in technology have allowed workers, particularly those in Generation Y and Z…
Video: Shahab Karmely discusses Miami River, One River Point
In this video: Despite the condominium market slowdown, Miami developer Shahab Karmely is confident that his project and the Miami River are poised for big growth.In an interview following a panel, Karmely and TRD South Florida’s Managing Editor Ina Cordle discussed his One River Point and the river in general at TRD‘s Third Annual Broward Real Estate Showcase & Forum in April. Presales at One River Point are soon to pass the 18, 20 percent market. Buyers there are…
These Industrial Properties Don’t Last Long In Miami
As Miami’s industrial market continues its hot streak, an affiliate of Easton Group is snapping up one of the few opportunities to acquire a brand new warehouse and distribution facility. The firm paid $21.846 million in cash for an 182,000-square-foot industrial asset in west Miami-Dade County. Ridge Development sold the industrial facility EWE Airport North Logistics Center LLC (9001 NW 87th Ave, Medley, FL 33166) . The warehouse-distribution center is a recently-built class A…