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Increased Density Mixed-Use Development the Future of Wynwood

Miami’s Planning, Zoning and Appeals Board has approved a change in the city zoning ordinances that would allow the densest mixed-use building in the area to be constructed. The application still requires approval before the City Commission. The Board voted 7-1 in favor of developer Wynwood 250‘s request for a zoning change, giving it the ability … Continue Reading

Distressed Condominium Relief Act Gets Further Extension of Life

An extension of the Distressed Condominium Relief Act has been approved by the legislature and is under review by Governor Rick Scott. Many were worried that the sunset of the Distressed Condominium Relief Act would prevent owners who bought distressed properties from reselling these properties in bulk.  The act affords bulk purchasers of distressed properties … Continue Reading

Florida’s Revenue System Outlined in New Report

The Leroy Collins Institute has published a report that outlines their view of the state’s revenue system and its potential misuse. The report, entitled “Tougher Choices: Shaping Florida’s Future,” builds on a 2005 Institute report which warned that the state’s revenue system was overly reliant on the booming housing market and influx of construction due … Continue Reading

Miami’s Golden Age

Recently Arden Karson, a Senior Vice President of The Related Group’s Acquisitions, Distressed Debt and Strategic Opportunities Division and the Project Manager for Brickell Heights Condominium, spoke about the latest in-depth analysis of South Florida’s condominium market prepared by Related ISG. Entitled “2020: The New Miami,” the analysis focuses not only on the condo market, … Continue Reading

200 New Condo Towers Planned in South Florida since May 2011

An exciting announcement was recently made in South Florida – between May 2011 and today more than 200 new condo towers east of I-95 in Miami-Dade, Broward and Palm Beach counties have been scheduled to be built.  Yes, this is no April Fool’s joke, you read that correctly.  New condo buildings are being planned all across the … Continue Reading

Canadian Investment Firm Building Upscale Mobile Home Parks in Florida

As ties between Canada and Florida continue to strengthen, Canadian investment in the region continues to increase. Tricon Capital Group, the Canadian company whose profit rose five-fold last year after betting on U.S. housing in the depths of the slump, now plans to expand into upscale mobile home parks in Florida. Tricon has announced that … Continue Reading

Miami Ranked as a Top Global City

Knight Frank Releases 2014 Wealth Report and Global Cities Survey Miami and New York are the only North American cities to make the top ten list in a recent survey of the most important global cities to the world’s wealthy. The Wealth Report, issued annually by London-based real estate consultancy Knight Frank, tracks performance of prime … Continue Reading

Court of Appeal Reaffirms Ruling Making Condominium Association Foreclosures More Costly

Last week, the Florida Third District Court of Appeal dealt the final blow to an often-used strategy by condominium associations. In the second iteration of Aventura Management, LLC v. Spiaggia Ocean Condominium Association, Inc., Case No. 3D13-1437, the Third DCA confirmed its prior ruling that a third-party purchaser who takes title to a condominium unit … Continue Reading

Construction Begins on a Mixed-Use Development in Wynwood

The Wynwood district north of downtown is becoming a hot spot for mixed-use development activities. Recent articles in the South Florida Business Journal and Curbed report that construction is under way on Wynwood House, a mixed use building that will include restaurants, office space, and live/work units, and Green Space, a retail/office building, both on … Continue Reading

PortMiami Cargo Rail Service Makes an Early Start

The reconnection of the freight-rail service to PortMiami is in effect.  In recent months, the Florida East Coast Railway (FEC) has begun train service carrying cargo containers directly onto PortMiami’s docks.  Soon, one to two trains are expected to serve the Port per day. As highlighted by Miami-Dade Mayor Carlos Gimenez during his State of the … Continue Reading

Healthcare Sector Heating Up Throughout South Florida

The University of Miami just announced plans to build a 200,000 square foot medical facility at its main campus in Coral Gables. Currently, many of UM’s medical facilities are concentrated in Miami’s Health District, where the Miller School of Medicine is located.  Once completed, physicians from the Sylvester Comprehensive Cancer Center and Bascom Palmer Eye … Continue Reading

New Miami in the News: Weekly Recap

The forecast is sunny this week in New Miami news, as details of expansion for a variety of retail stores emerge, and industry experts predict continuous future economic growth in our thriving metropolis. Investment strategist has bright outlook for South Florida Jobs, wages and real estate prices will keep climbing this year in South Florida, … Continue Reading

Bilzin Sumberg Hosts the Kislak Real Estate Market Strategies Forum

Recently, we hosted the 2014 Kislak Real Estate Market Strategies Forum, presented by the Florida State University Center for Real Estate Education & Research, of which I am a member of the Executive Board. This yearly, invitation-only forum provides leaders with a platform to discuss market conditions, vet strategies, and identify emerging opportunities, and is … Continue Reading

Top 5 Issues in Commercial Real Estate Market in 2014

Renowned economist Hugh F. Kelly, Ph.D., CRE, who is also the national chair of The Counselors of Real Estate, led a discussion at a CREW-Miami luncheon about the top five issues affecting the commercial real estate market in 2014 and gave his annual economic predictions. Issue #5 – Infrastructure:  South Florida has a very poor infrastructure … Continue Reading

Annual Commercial Real Estate Finance Council Outlook

Positive Outlook for Commercial Real Estate Finance Market While attending the annual CRE Finance Council (CREFC) conference in Miami on January 13-15, it was clear the overall mood from attendees was positive about the current state of the commercial real estate finance market.  Those attending the conference were a cross-section of lenders, investors, and servicers; including commercial … Continue Reading

GMCC Economic Outlook Conference

I recently attended the Greater Miami Chamber of Commerce’s 2014 South Florida Economic Summit, featuring Governor Rick Scott as one of the guest speakers.  In Gov. Scott’s remarks, he spoke of the need to create additional jobs and continue to grow Florida’s economy in key sectors like tourism and technology.  To that end, Gov. Scott … Continue Reading

WPLG’s South Florida Real Estate Outlook for 2014

Recently, Real Estate Attorney Suzanne Amaducci-Adams was featured on WPLG’s “This Week in South Florida” television program. Hosted by Local 10 news anchor Glenna Millberg, they discussed the real estate market outlook for 2014.  Also joining them was Lynda Fernandez of the Miami Association of Realtors.  During the segment, they covered topics including Miami’s appeal to foreign investors, the … Continue Reading

Construction Tip #7: Developers Should Not Rely Entirely on Standard Forms of Construction Contracts

Anyone with experience in the construction industry knows that form construction contracts are routinely used to memorialize agreements for the construction of new projects.  Standardized contract forms promulgated by various institutions are indeed an extremely valuable resource for architects, developers, contractors, and their attorneys seeking the most effective way to generate a written document that … Continue Reading

Happy Holidays to All Our Readers!

It’s hard to believe that 2013 is already drawing to a close – the year in New Miami flew by in a whirlwind of development as new plans were announced and projects took shape. From rail, seaport and airport expansion to the buzzing arts and cultural scene, New Miami continued to grow. We celebrate our … Continue Reading

South Florida’s Residential Markets on the Rise

South Florida’s residential market is strengthening at fast, consistent rates making the prospects for the future seem bright this holiday season. During the over-leveraged, overbuilt times of 2008, most believed South Florida’s rebound would be difficult, but instead, as 2013 nears its end, we see a strong turnaround underway with limited residential resale inventory, rising … Continue Reading

Soccer at the Seaport?

Should a soccer stadium be built at the Port of Miami?  Soccer superstar David Beckham and his investment team have identified the southwest corner of the Port as a potential stadium site for a new Major League Soccer franchise. Sports enthusiasts hail the waterfront site with its stunning views of downtown as the perfect place … Continue Reading
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