** 1st ** Over 180 new residential condos proposed/planned/actively planned and in construction between Palm Beach down to Coconut Grove. These proposed buildings are spread over a wide territory, but we do have tremendous growth activity.
Miami along both sides of the water is seeing a majority of the proposed new projects.
Here is an extraordinary before (today) and after (2020) rendering of the downtown/financial district of Miami. Sunhattan or the metropolitan area of Miami:
And keep in mind, any improvements in downtown infrastructure is also great for anyone investing on the beach!!
As land values have gone up on the beach, so has the quality of the project. Everything added to the beach is luxury or the new category of Ultra-luxury. Already 22 billionaires have made reservations at the Porsche Design Tower in Sunny Isles Beach. Porsche has three car elevators that will park your car on the same floor of your condo. Each owner has a 2 - 4 car garage next to their palace in the sky.
Every rendering, every concept revealed continues to marvel. The prestige being added to these neighborhoods is excellent for value added to secondary markets (reselling the already existing beautiful homes and condos).
One of my personal favorites in the Ultra-luxury category, an elegant mixed use plan developed to make one neighborhood far more sustainable, the Faena District: http://faenamiamibeach.com/
They have a video series you need to watch and the renderings are phenomenal. It's a Real Estate junkies dream. They've hired the best engineers, designers, architects..
Here's a good example of how they incorporated water elements to enhance the living experience for all the residents of the incoming Faena House:
Poetry of Water - http://vimeo.com/57961085 (
** 2nd ** Miami has incoming megastructures!! Extremely significant. Large commercial developments that are adding infrastructure, jobs, density, opportunity at a blistering pace!
Brickell Citicentre : Creating a billion dollar impact to the downtown neighborhood, adding permanent jobs, shopping retail, office space, ad valorem taxes, hotel/tourism, etc.
There is a link below to a popular new segment that has come out, a heatmap which prioritizes and updates the new Mega Projects existing, or coming to Miami, have a look:
Not mentioned in the list above are expansion plans to add 2 or 3 times the amount of business ongoing at the Port of Miami by 2020, and David Beckham's interest to start an MLS franchise, just to name a few more.
All of the new condos and new infrastructure is projected for completion between end of this year 2014 all the way to 2020. Every year between now and 2020 we will see several new openings, new exciting releases.
Mentioned in the heatmap above, the Miami World Center will soon have its approval, and once the announcement is made, it may become the single largest contribution to making Miami a premiere global city.
Here's a video rendering (jump to 58 seconds if you want to go straight to it):
As of March 13th 2014, an article was released explaining the largest shareholder by 72% is now the CIM Group which is currently building the third tallest building in the US, 432 Park Avenue in New York. Backed by an all star developer this gives me much greater confidence Miami World Center is on it's way. Just a matter of time.
Already in its transformation is museum park, additions of the Perez Art and Philips Science Museums, and the incoming Thousand Museum Park, Zaha Hadid's first residential design in the Western Hemisphere. It has an exoskeleton frame with no columns in the interior structure!
A few concluding words about Miami: It's all about lifestyle. I've highlighted only a few neighborhoods in Miami, but all of our boroughs benefit from all of this investment. Trust your instincts. Find what makes you happy, whatever you may get the most enjoyment out of. Whether you want the beach, or you want to be in the lively hustle of downtown where all the entertainment/media/fashion/
I hope you find this information helpful to you. Don't hesitate to reach me if you have any questions or feedback.
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