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The biggest hurdle to buying a house in Miami? Coming up with the down payment
A new survey of aspiring home owners around the U.S. confirms what Miami renters already know: Rents are so high, there’s not enough money left over to save up for a down payment. According to the first Zillow Housing Aspiration Report (ZHAR), a new semi-annual survey of 10,000 renters from 20 major metro markets across the country, 67.9 percent of people in the U.S. say coming up with a down payment is the main reason keeping them from buying a home. In Miami, 64.7 percent of respondents cited the same problem. Qualifying for a mortgage was...
read moreLincoln Road-area food hall slated to open fall 2018
Miami Beach-based Terranova Corp. aims to build a 9,600-square-foot food hall at the intersection of Meridian Avenue and North Lincoln Lane near the Lincoln Road mall. The Lincoln Eatery is slated to debut at 723 Lincoln Lane in Miami Beach in the same building as Marshall’s. Terranova is placing this project in what it calls the next “it” neighborhood in Miami-Dade County, the NoLi District, which would run parallel to Lincoln Road. The Lincoln Eatery is slated to debut in fall of 2018. Click Here to read...
read moreBusiness Journal expands map of downtown Miami development
This week’s real estate news. When providing visitors a tour of Miami, it’s fun for locals to point out all the construction cranes and run off all the projects under construction. But there are so many buildings sprouting out of the ground that it’s hard to keep track of them all. Now the Business Journal has you covered with our new Crane Watch feature. This interactive online map shows where new projects, both under construction and proposed, are located and provides information about the developer and the building’s features....
read more30 Luxury Home Design Trends luxury buyers now want!!
What high-end homebuyers seek, and sellers should consider Luxury buyers look for anything but cookie-cutter, while convenience, style and recreation opportunities make the top of their wish list. A ranch-style featuring a designer kitchen, blended living space and mixed-metal trimmings — such a house would embody 2017 luxury, so long as it was also decked out in smart home technology. That’s according to twin brothers Jonathan and Drew Scott, co-founders of Scott Brothers Entertainment and Scott Living. The duo and HGTV hosts — real estate...
read moreBal Harbour Shops sweetens offer to village in drive for expansion
The owner of the Bal Harbour Shops has modified its $400 million expansion plans to provide benefits for the village of Bal Harbour, including the construction of public buildings and donated land. Whitman Family Development said its proposed development agreement would provide more than $100 million in benefits to the village. In exchange, it wants approval to expand the mall by 340,387 square feet on its current footprint. The Bal Harbour Shops already totals 463,477 square feet, so this would be a major expansion. The developer would add a...
read moreNew Brightline train arrives in South Florida
The company behind Miami-to-Orlando passenger train Brightline has a new milestone under its belt, with the second of five trains arriving in South Florida this week ahead of the project’s local debut this summer. Trainset “BrightPink” embarked on its 3,000-mile journey from Siemens’ Sacramento, California facility to Brightline’s railroad operations center in West Palm Beach on Friday. As of today, about 80 percent of the rail infrastructure improvements on the corridor between West Palm Beach and Miami are complete, said All Aboard Florida,...
read moreAmerican Dream Miami Mega-Mall Plans ready in 2022
The state of Florida is moving forward with a standard 30-day review of American Dream Miami, which means plans for the mega-mall are heading to a final vote by June. A regional planning board, the South Florida Regional Planning Council, will meet again on Friday to provide its input on the 6.2 million-square-foot development planned for Northwest Miami-Dade. The board, made up of elected officials from Broward, Miami-Dade and Monroe counties, rejected a staff request on Monday to label the project “generally consistent” with local...
read moreJungle Island complete makeover and renderings
Jungle Island $60 million sale that will bring lagoon, zip lines and complete makeover New rendering of Jungle Island shows some of the new features coming to the park after a two-year renovation, including a zip line and lagoon. Take everything you remember about Jungle Island. Keep the colorful birds and that iconic spot on Watson Island. Now throw the rest away. In a new rendering released Wednesday after the park closed a $60 million deal with its new owners, Jungle Island is completely unrecognizable. The 18-acre park, formally Parrot...
read moreAmericas-Asia trade center in Miami’s Wynwood
Moishe Mana reveals plan for Americas-Asia trade center in Miami’s Wynwood Moishe Mana’s Mana Group has unveiled the centerpiece of his massive mixed-use project in Miami’s Wynwood district: a center that would facilitate commerce with Latin America and Asia. In 2016, the city approved a special area plan for Mana Wywnood, covering nearly 24 acres, with about 10 million square feet permitted at the former warehouse site. The property extends from Northwest 22nd Street to Northwest 24th Street between Interstate 95 and Northwest 2nd...
read morePorsche Design Tower penthouse with 11-car garage on sale
in Sunny Isles Beach sells penthouse with 11-car garage for $25M Porsche Design Tower, the new Sunny Isles Beach condo that has attracted worldwide attention for its unique car elevator, has sold a four-level penthouse with a garage for 11 vehicles for $25 million. Dezer Development said the unit totals 9,560 square feet of interior space, making the price equate to $2,615 per square foot. It includes a “car gallery” on the 56th floor where the tower’s specially-designed car elevator can transport the vehicles from the ground to the sky-high...
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