Tag Archives: Brickell

Building Fever Heats Up Miami

By Mike Colpitts- http://www.housingpredictor.com

A year of appreciating home and condominium values has sent developers scrambling to find land to build new developments on in Miami. The booming shape of real Downtown Miami estate reality is flying high again in this picturesque waterfront city. The American Dream is alive and well in one of America’s great vacation spots.

There are 45 new condominium towers proposed to be built in the region, which includes swank Miami Beach and South Beach, where there’s no shortage of bikinis most of the year. The construction crane was said to be the state’s bird by real estate types during the bubble years, and it seems that it’s going back to work.

The housing crash was devastating for the region, but it’s all but healed with the influx of new money from international buyers, two out of three of whom are paying cash for property purchases. No mortgages are needed for this well to do set.

Cheap money in terms of mortgage rates and pent up demand is also driving a recovery in Florida’s largest metropolitan region. Home sales are climbing for the second year in a row as record low interest rates push more home buyers into action. However, a 10% high unemployment rate still troubles most of Miami and most of Florida, which depends heavily on its tourist business and real estate industries for mainstays of the state’s economy. The joblessness rate has been cut in half.

Read full story here: http://www.housingpredictor.com/2012/miami-building-fever.html

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Brickell CitiCentre Ready To Break Ground

A rendering showing an overview of Brickell CitiCentre. Swire Properties

BY ELAINE WALKER – EWALKER@MIAMIHERALD.COM

Think Madison Avenue in New York or Michigan Avenue in Chicago: Urban shopping is a major attraction in any savvy city, but in Miami, that has long been the missing link.

The groundbreaking Wednesday for Brickell CitiCentre marks a key step in changing that paradigm and boosting Miami’s evolution as a 24-hour metropolis. The $1.05-billion urban shopping and mixed-use development will be spread over three blocks just west of Brickell Avenue and south of the Miami River. Connected by bridges and covered walkways, the 5-million-square-feet project will include a department store, luxury shops, restaurants, a hotel, office towers and condominiums.

For developer Swire Properties, Brickell CitiCentre is an investment in Miami’s future.

“This project is not about what exists today or three years from now when we open,” said Steve Owens, president of Swire Properties. “It’s about what exists 10 years from now. The transformational aspects of this project are contagious. It’s not just about doing a large development. It’s about changing this community.”

Outside the retail shops, many of the individual elements of the project aren’t that different from what already exists in Miami’s urban core. But put them all together, and the open-air design by Miami’s Arquitectonica creates a vibrant gathering spot and a sense of place among Miami’s sea of high-rise towers.

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