Sunny Isles Beach in northeast Miami-Dade County is quickly becoming the epicenter of South Florida’s condominum boom, the Miami Herald reported. Six condo towers are currently being developed in the area, which represents approximately 15 percent of the more than 45 towers proposed through July 2012 in South Florida’s tri-county region. Another 530 luxury units are set to be built along the nearly 40 blocks along Collins Avenue, and more are expected to come.
Developers have purchased an additional four condo sites in Sunny Isles Beach, containing more than 580 units, all of which have been approved for residential towers. Further, an investment group has recently purchased the loan for a partially completed condo tower that has been approved to contain 134 condo units and 140 hotel rooms. If this pace of development continues, Sunny Isles Beach could see its total number of condos increase by more than 1,200 units. [Miami Herald] — Christopher Cameron