Complete Streets Project – Miami Dade Jul 2017

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Complete Streets or Streets for people  is a pilot project that will rearranges SE/SW 1st Street to organize the Downtown transit into 4 lanes, providing in addition to car circulation, a green bike lane and a red bus lane and street parking. The multi-modal desing, will prioritize pedestrians and cyclists, and will include the beautification of the sidewalks, adding lighting, trees, and varied urban equipment. The pilot program will be then implemented in the entire Downtown Miami CBD.

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Bullet Train almost ready to roll – WSJ – Jun 2017

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Brightline is building for stations in several downtown cities in Florida, including Miami, Fort Lauderdale, Boca Raton and Palm Beach and Orlando. Photo: Skidmore Owings & Merrill

When the Brightline opens this summer, it will be the first train built in America in a century. The high-speed line is funded, built and operated by private capital. The $1.3 billion cost of phase one which includes tracks, bridges, stations and trains is not being  funded by the taxpayers.

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Miami marine stadium to be restored – Miami Herald

November 17, 2016

City commissioners allowed the city’s administration by a voting 3 to 0, to fund a $37 million dollar renovation of the iconic Virginia Key marine stadium, next to the Miami Rowing Club, by issuing bonds. The stadium was originally designed for rowing and boat races in a secluded no wake area, which has lately been used as a natural marina, by casual boaters.

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Jump start of Miami Soccer Stadium – Miami Herald

November 17, 2016

David Beckham’s representatives moved to jump-start by bringing investors to a pitch by Miami-Dade Mayor Carlos Gimenez. Fortress Investment Group is no longer in the mix as a potential investor. Neisen Kasdin, a local lawyer and lobbyist Akerman representing Beckham’s group, said Gimenez met with the investors in the downtown offices.

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Mana buys Biscayne Building in downtown Miami. The Real Deal

August 26, 2016

Moishe Mana is assembling his Monopoly in Downtown Miami, by paying $24.5 million to acquire the Biscayne Building. The 14-story building has roughly 154,000-square-feet and is located at 19 West Flagler Street. It marks his 39th transaction for over $300 million spent along Flagler Street over the last years. “Moishe has acquired a critical mass of buildings in downtown to be able to reposition them … ” said Mika Mattingly, who represented Mana on almost all of his downtown Miami deals.

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New Parking-less Condo Loans Approved by Fannie – The Real Deal

August 27, 2016

Financiers Fannie Mae approved the mortgage loans of a new 40-story condominium tower in Downtown, buying out the empty units at Centro (the tower).

Newgard Development Group has been granted a temporary certificate of occupancy for Centro, where less than 30 of the original 352 units have been sold.

Being Fannie Mae approved mortgages that are backing these left over units is huge because it means qualified applicants can make down payments as low as 5% for a condo at Centro.

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Speculation of Miami Office Buildings Hanging On – The Real Deal

August 10, 2016

New reports show the number of speculative office projects in Miami is starting to kick off, despite the flattening vacancy rate.

According to a mid-year report, Miami’s vacancy rate is slowly increasing, standing at 14.2% now, yet absorption rose to 1.2 million Sq. Ft. especially noted in suburban submarkets.

High absorption rate is a welcome change for the office market in Miami, which during the last real estate bust suffered some damage, struggling with high vacancies and a period of oversupply, but the city is now heading past that.

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Bond in Brickell in its Closing Stages – The Next Miami

August 10, 2016

Another condo building has been added to the ever-growing skyline. Seems to be that The Bond On Brickell has deeded some of their first condo units to their owners. Standing 43 stories, with a total 328 units, this project broke ground about 31 months ago with Costal Construction as a contractor and building design by NBWW of Coral Gables.

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$586M coming from New York to Downtown – The Real Deal

March 08, 2016

New Yorkers have spent at least $586.5 M in property within one square mile of Downtown. They have been scoping out areas between the Miami River and NE 6 St, and east of I-95 to Biscayne Bay, and for the past two years, they have been moving in on those properties.

At least 1.1 M Sq.Ft. of land and over 1.28M Sq.Ft. of buildings have been acquired by New Yorkers, making up 56% of investment in the area. The area is the beginning stages of an expected renaissance, where a $13 M improvement plan has been put into motion. The beautification project is proposed to have more trees, expanded sidewalks, new benches and bike racks, and has already broken ground.

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