South Florida’s population is changing. And that’s making real estate change, too
A population increase of foreign-born and northerners is influencing real estate in South Florida. About 94 new people a day moved to Miami-Dade, Broward and Palm Beach counties from July 2017 to July 2018, most of them from out of the country. Meanwhile, about 58,000 Floridians over the course of the year moved to another state, according to data compiled by Bloomberg and the U.S. Census Bureau. [Source: Miami Herald]
How will Florida's declining consumer confidence affect growth & development in Southwest Florida?
Are the 2020 presidential elections already affecting home sales in the region? Clues could be found in the newly released August housing report by the Naples Area Board of Realtors. One of them was closed sales of homes between $1 million and $2 million year over year. The NABOR report shows a decrease of 5.7% in its territory. [Source: Naples Daily News]
Publix real estate executive to retire after nearly 50 years
After 47 years of dedicated service, Publix Super Markets’ Senior Vice President of Real Estate and Facilities Jeff Chamberlain has announced his decision to retire at the end of the year. Chamberlain, 63, began his Publix career in 1972 as a front service clerk in Satellite Beach, Florida. More at Florida Trend and Grocery Dive.
More Florida breweries on tap despite uphill battle for real estate
Breweries are experiencing explosive growth as consumers develop a taste for homegrown offerings, but opening a brewery isn't easy. Beyond location, they struggle to find the right real estate at affordable prices. Breweries need at least 18-foot ceilings to make room for giant tanks and sturdy floors to handle the weight. They can’t afford standard retail rents since they normally serve only beer and possibly bite-sized snacks. [Source: Globe St.]
It’s no secret that the Miami area is facing an oversupply of shiny new condos, spacious units with sprawling terraces in skyscrapers stretching from Brickell to the northernmost tip of Sunny Isles Beach. But a new product type has emerged that developers claim they can’t build quickly enough: more affordable units that buyers can rent out however and whenever they want, no strings attached. [Source: The Real Deal]
› More people are moving to the Suncoast, according to recent report [WWSB]
It looks like more people are moving to the Suncoast and staying here. According to The Realtor Association of Sarasota and Manatee, their August numbers show that single-family home sales are up from last year. Sarasota County saw an increase of single-home sales by 7.4% and Manatee County saw an increase of 10.3%.
› Iron throne not included: Medieval-inspired Florida home on sale for $1.75M [SF Gate]
"Game of Thrones," everyone’s favorite wholesome family drama, is over. But if Daenerys Targaryen, mother of dragons, ever strolled into the 21st century, she might set up her kingdom in Florida. Free from snow and ice, Fort Lauderdale would make for a balmy change of pace, and there’s already a home ready to go suited to the most medieval of tastes.
› Multifamily firm builds on Florida momentum [Business Observer]
Florida multifamily development executive Kurt Kehoe isn’t running scared. Scared, that is, of an apartment sector bubble that could wreck ambitious plans his firm, Cleveland-based NRP Group, has for Florida, specifically the state’s west coast.
› As 17-story tower, entertainment complex loom in Parramore, residents fear gentrification [Orlando Sentinel]
One city block of Parramore, a historically African-American and impoverished neighborhood of Orlando, is poised to change dramatically in the next few years with an onslaught of new development, exciting city leaders but reigniting fears among some residents of gentrification.