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December 15, 2018
There's a surplus of luxury condos in Miami, but three more developers are building anyway

Photo: DBOX

Architectural rendering of 57 Ocean (second building from the right) at 5775 Collins Avenue in Miami Beach.

Florida Trend Real Estate

There's a surplus of luxury condos in Miami, but three more developers are building anyway

| 10/22/2018

There’s a surplus of luxury condos in Miami, but three more developers are building anyway

High-end real estate development has slowed to a crawl in Miami-Dade, with most builders taking a breath while the market absorbs a bounty of condos priced at $1 million and up. But three ambitious developers from outside the U.S. are betting on Miami’s enduring appeal with plans for ambitious condos priced in the mega-millions. [Source: Miami Herald]

After Hurricane Michael, a call for stricter building codes in Florida's Panhandle

Florida has some of the nation's toughest building codes. But in the Panhandle, you wouldn't know it. The rules are looser there — allowing construction that couldn't stand up to Michael's 155 mph winds. Listen to the story from NPR, below.

They’ve met 475 Tuesdays in a row to help real estate pros rebound from the housing crash

In 2008, thousands of Tampa Bay residents who made their living from real estate and construction were out of work. To help them get back on their feet, a group of volunteers started a non-profit organization, Real Estate Lives. Since 2008, the group has met on 475 consecutive Tuesdays and helped more than 4,000 people find jobs. [Source: Tampa Bay Times]

Climate change and the coming coastal real estate crash

Climate change, and the accompanying rise in sea level and storm activity, will require expensive investments and shake the foundations of some of the most expensive land in the country. Like many of the impacts of a warming planet, the serious economic reverberations and permanent damage caused by declining coastal property values are simply not being addressed in an urgent enough manner. [Source: Curbed]

Orlando firm inks deal to build 50 new Checkers restaurants

Orlando commercial real estate firm Evans James & Associates won a deal to build 50 new Checkers restaurants, including “a few dozen” in the Orlando area, the company said. Evan James and Associates will act as the developer on a new deal, partnering with a European private equity firm and a handful of franchisees to build the new restaurants. [Source: Orlando Sentinel]

STAT OF THE WEEK
$350,000
Las Vegas Knights left winger Max Pacioretty has sold his Boca Raton home for $3.1 million, $350,000 down from Pacioretty’s original asking price. [Source: South Florida Sun-Sentinel]

ALSO TRENDING:

› Palm Beach real estate market shifting into higher gear
With a new season upon us, Palm Beach’s revved-up real estate market has continued its year-long shift into higher gear, driven in no small part by affluent home buyers whose wealth has steadily increased and who increasingly view the island as a picture-postcard-perfect tax haven.

› DJ Khaled is all about the real estate
After buying a $25.9 million dollar waterfront beach house in Miami, DJ Khaled decided to keep his fingers in the Florida real estate game a little longer by lending his name to a luxury listing in Hibiscus Island, Miami.

› After previous projects stalled, Fort Lauderdale luxury condo finally getting underway
Construction is underway for an 11-story luxury waterfront project in Fort Lauderdale that had been stalled for years. The project, known as 321 at Water’s Edge, will have 23 condos, with partial ocean views starting on the fourth floor and full ocean views beginning on the sixth.

› Third-quarter sales of Naples-area homes rose from hurricane-depressed levels last year
Sales of Naples-area houses and condominium units increased in the third quarter from the same period last year, when Hurricane Irma depressed sales in September 2017.

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