What’s New in Miami:
Miami has experienced an increased demand for live-work-play communities, driven by residents looking to minimize commute time between home, work, and major retail or entertainment complexes. As lockdown afforded residents more flexibility and freedom in their daily routines, the popularity of the live-work-play concept grew, so much so that Miami recently ranked among the top three cities with the highest number of live-work-play communities in the US. Savvy real estate developers are incorporating a mix of residential, retail, and commercial office space into their projects to meet the growing demand for these unique communities.
The Miami Worldcenter
The Miami Worldcenter project, a mixed-use development in downtown Miami, continues to progress. Real estate developer Miami Worldcenter Associates recently announced the completion of multiple residential towers, hotel space, and over 800,000 square feet of retail and restaurant space associated with the project.
Brickell Rental Project
Westpine Partners, a newly formed real estate development firm, recently announced its first project. The firm has plans to build a 43-story residential tower at 160 and 180 Southwest Ninth Street, a quickly developing neighborhood. The plans include 328 apartment units as well as ground-floor retail space.
Miami River Megaproject
New York-based firm Chetrit Group recently revived its plans for a $1 billion development in Miami. The 4-million-square-foot project on the Miami River waterfront will feature a luxury condominium tower, rental apartment towers, and an office tower. In partnership with Groot Hospitality, that project is also set to include restaurant and nightlife venues.
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Florida Digest