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Metrorail and Metromover will run late on weekends
A goal Miami’s Downtown Development Authority has been pursuing for more than a year – late-night service on Metrorail and Metromover – will finally be realized by the end of this month. On Friday and Saturday nights, Metrorail and Metromover will run until 2 a.m., said Alice Bravo, director of the county’s Transportation & Public Works Department. “We have many more restaurants and hotels downtown, a big hospitality sector, and the extended hours will help people working in the medical industry at the Civic Center,” Ms. Bravo told an...
read moreCoconut Grove’s luxury real estate market on the rise | Miami Herald
As Miami’s primordial neighborhood, Coconut Grove evokes passion and pride among its residents past and current. Long considered Miami’s dormant market, the Grove has most recently come alive with vast opportunity driven by the demand of both residential and rental sales that includes new plans, preconstruction deals and surging prices. The Grove’s vast green canopy is a shield that has preserved the neighborhood as the area’s longstanding enclave. Nestled in the heart of Miami, Coconut Grove upholds the true character of luxury living. In...
read moreNEIGHBORHOOD TOUR: Wynwood ready for development boom as it grows up
Miami’s Wynwood neighborhood’s current incarnation as an arts district and retail and nightlife cultural hub took off in the mid-2000s when Goldman Properties and its founder Tony Goldman began buying up chunks of the neighborhood in 2006. Now, a decade later, the neighborhood is entering its next stage as a work/live destination. In addition to Goldman Properties, which still has significant interests in the neighborhood, developers and investors from far and wide are working to build up Wynwood. First came the multitude of murals, art...
read moreMiami-to-Orlando train Brightline Express 3.1 billion dollar project on track
Progress on the $3.1 billion Brightline Express train project is on track. The Brightline Express project will bring high-speed train travel to commuters from Miami to Orlando, with stops in Fort Lauderdale and West Palm Beach. The Brightline railroad’s Phase 2 — the West Palm Beach-to-Orlando section — is expected to be ready for service after Orlando International Airport’s $215 million Intermodal Transportation Facility is finished in 2017. All Aboard Florida, the company building the Brightline Express, is owned by Florida...
read moreMiami ranks 4th in US for Asian investment
Good news for Miami real estate players hungry for Asian capital. A report from commercial brokerage CBRE shows more than half a billion dollars worth of Asian cash flowed into Miami real estate during this year’s first six months, making it the country’s fourth-most popular destination for investments from across the Pacific. According to the report, Asian investors spent $665 million on real estate in Miami during the first half of this year, marking a massive jump in volume from the $34 million during the same time period in 2015. The flow...
read moreInterest in Miami Real Estate intensifies – Headlines, features, photo and videos from ecns.cn|china|news|chinanews|ecns|cns
Chinese buyers have doubled their residential property purchases in South Florida over the last four years, growing from 1 percent of all international sales in 2011 to 2 percent in 2015, according to the 2015 Miami Profile of International Home Buyers released by the Miami Association of Realtors. “That may not sound like much, but because Miami has so many international sales (22 percent of unit sales and 36 percent of dollar volume), 1 percent of our international sales are more than some market’s total international...
read moreChinese market growing quickly in South Florida
Wealthy Chinese buyers have been buying so many homes in the United States that they are the top foreign country purchasing property in the U.S – for the fourth year in a row. Those home sales totaled more than $27 billion. But in South Florida, the response hasn’t been so strong. Vanessa Grout, president of CMC Real Estate, told the Washington Post the share of the Chinese market in South Florida is ready to grow. CMC is marketing its Brickell Flatiron project, a 549-unit 64-story tower in Brickell, to Chinese buyers. “Chinese buyers...
read moreIndia’s real estate bubble could be Miami’s gain
This year has seen the Miami Association of Realtors make some big moves to strengthen its international network, which included association representatives traveling to India in August to try and sell the South Florida market. “India is one of the fastest growing economies in the world and ranks among the largest foreign buyers of U.S. real estate,” MIAMI CEO Teresa King Kinney said. In fact, India is the third-largest foreign buyer of U.S. residential real estate, according to the National Association. Indian buyers from April 2015 to March...
read moreMiami sees continued population growth downtown, countering trend
As cities across the US continue to see population growth slow as residents uproot for the suburbs or other cities altogether, Miami continues to see growth in its urban core, countering the national trend. According to the US Census Bureau, the top 50 US cities accounted for 20% of national population growth for the 12 months end July 1, 2015, as reported by the Wall Street Journal. Notably, within Florida, cities such as Jacksonville, Orlando, Tampa and Miami all saw population rise last year, countering the national slowdown trend....
read moreBillionaire Vladislav Doronin’s OKO Group hires Adrian Smith + Gordon Gill Architecture to design Worlds tallest tower
OKO Group, led by billionaire Russian-born developer Vladislav Doronin hired Adrian Smith + Gordon Gill Architecture to design its condo tower planned in Miami’s booming Brickell neighborhood. The developer hasn’t revealed the details of the proposed tower other than to say it would be 47-story tall, so it’s up to AS+GG to create the building. This will be the firm’s first project in Miami. Other projects by the Chicago-based firm and its principals include Burj Khalifa in Dubia (the world’s tallest building), Jeddah Tower in Saudi Arabia...
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