The Real Deal Miami

South Florida by the numbers: Look Back at 2014 Edition

December 19, 2014 03:00PM
By Master Brokers Forum

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Faena House rendering

“South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics.

Here at SFBTN headquarters, we are so obsessed with the data behind Miami’s business and real estate news, that we rarely if ever  stop to look inward. But the holidays and new year are a time for reflection, and we were happy to learn that we provided exactly 54 interesting and illuminating figures in 2014.

Over the course of 10 columns, we examined the big topics (the megaprojects, the port access tunnel, the loss of LeBron James), the landmark events (Sony Open, Miami TechWeek, World Cup), and the “only in Miami” stuff (film and entertainment industry, Miami Spice, Back to School). What follows are the items we believe had the broadest impact this year (in no particular order), with updates where indicated. We wish you the very best in 2015, and hope you enjoy this “Look Back at 2014” edition of South Florida by the numbers.

$100 million
Estimated loss in value for the Miami Heat franchise with James returning to Ohio. However, Moody Analytics economist Kwame Donaldson said the decision, “…will not impact the Miami economy in any discernible respect. Basketball fans in the area will merely shift their spending and attention to other entertainment venues.” [Daily Business Review]

0
Number of hurricanes that have hit Florida since 2005  an extraordinary nine-year streak. [Sun-Sentinel]

$1.05 billion
Development cost of Swire Properties’ under-construction Brickell City Centre, a mixed-use project which will offer more than 565,000 square feet of shopping and entertainment, two residential towers, a 263-room hotel and a wellness center and office space. Saks Fifth Avenue is the first retailer to sign on to the project. [South Florida Business Journal]

55 (57)
Number of months needed to complete construction of the Miami Access Tunnel, the two-tunnel, toll-free system that takes drivers from the MacArthur Causeway, underneath Government Cut, to PortMiami (and back again), dramatically reducing traffic in downtown Miami and easing transit for thousands of cruise passengers and cargo trucks. While a ceremony to dedicate the tunnel was held on May 19, it did not officially open for traffic until early August. [WLRN]

2 (with updated article)
Number of proposed (and rejected by Miami politicians) public waterfront sites for soccer icon David Beckham’s Major League Soccer stadium. The effort has floundered over time, and Major League Soccer is now openly acknowledging that expansion in Miami may not be possible. [New York Daily News]

$60 million (with updated article)
Sales price of the Faena House penthouse  $10 million more than the asking price. It is one part of the extraordinary Miami Beach-based Faena District, which will cover six city blocks and include a 169-room hotel, shopping mall, arts center and high-end condos. [Curbed]

$1.6 billion
Growth to Miami-Dade County’s GDP from the conference and its economic development impact, according to a Washington Economics Group study commissioned by the Technology Foundation of the Americas (organizers of eMerge Americas). The report also conservatively predicts that the conference will produce approximately 17,000 high tech jobs in Miami over the next decade, plus $2.4 billion in additional sales tax revenues over that same timeframe. [Business Wire]

More than 345,000
Number of students attending Miami-Dade County Public Schools in 2014, making it the fourth-largest district in the country. (By itself, that population would be about the 50th largest city in the U.S.; larger than Anaheim, California, St. Louis, Missouri, and Pittsburgh, Pennsylvania, according to U.S. Census Bureau estimates.) [Dade Schools]

9-0
Results of a recent Miami city commission vote in favor of the developers of Miami Worldcenter, a “city within a city” north of downtown. The 30-acre project’s web site claims it will offer 1 million square feet of retail space; 600 square feet of convention space; more than 7,000 parking spaces; and 1,800 hotel rooms. The vote came after the developers eased commissioners’ concerns that the project’s special zoning plan (which would partly enclose some streets) might limit public access across the Park West District. But the developers committed to having several streets and a pedestrian mall remain open around the clock. [Miami Herald]

12 million
Number of people expected to pass through MiamiCentral (All Aboard Florida’s downtown Miami station) each year. In addition to its enormous commercial and retail components, the station is expected to attract millions of visitors by connecting its passenger rail to Orlando with MetroRail, the Metromover and possibly the TriRail line up through West Palm Beach. [South Florida Business Journal]

This column is produced by the Master Brokers Forum, a network of South Florida’s elite real estate professionals where membership is by invitation only and based on outstanding production, as well as ethical and professional behavior.

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