After a sharp decline brought on by the housing crash, Miami's condo market is experiencing a squeeze on supply and an attendant building boom, reflecting a nationwide uptick in urban real estate markets.
Driven by the $1.05 billion Brickell CityCentre, "a 5.4-million-square-foot mixed-use development that will add about 800 condo units in two 43-story towers to the central business district, a hotel, a luxury movie theater, and a wellness center aimed at tourists from Latin America," developers in Miami are again making big plans to enhance the city's skyline, reports Terry Pristin.
"In the last two years, 25 new condo projects have been announced in the downtown area, although it is far from certain they will all be completed. Within sight of Brickell CityCentre alone, eight residential buildings are under construction, including three being developed by the Related Group, an affiliate of the Related Companies of New York."
“We seem to be on the cusp of another boom,” said Peter Zalewski, a principal at Condo Vultures. “The question is whether this will be a controlled boom or another out-of-control boom, which is what we’re known for.”
FULL STORY: Miami’s Condo Market Rebounds, Stoking a Building Boom
Toronto's Skyline Has High Ambitions Despite Housing Bubble Concerns
By a ratio of two-to-one, Toronto is far outpacing NYC in terms of high-rises and skyscrapers currently under construction. As other Canadian cities follow suit, Jim Flaherty, Canada's Finance Minister, is taking measures to cool the market.
Mega Miami Development Seeks to Tame the Car
You know things are changing in Miami when the most notable aspects of the $1 billion Brickell CitiCentre development are its parking and transit access strategies. Douglas Hanks provides the details.
Miami’s Underline Linear Park Offers Recreation, Transportation, Conservation
A 10-mile park that runs under the Miami Metrorail is nearly complete and features bioswales for water conservation and public recreation facilities.
Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
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Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
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