The Real Deal Miami

Posts Tagged ‘downtown development authority’

  • Greater Downtown Miami faces 11-year supply of new condo units

    DDA report is sure to unleash a backlash from the condo development industry
    March 03, 2015 03:30PM

    Downtown Miami and Peter Zalewski

    The Miami Downtown Development Authority — a public taxing agency responsible for promoting economic investment in the area — should be applauded for knowingly releasing at this time of year a new 44-page study with a bearish outlook about the future of the local condo market. [more]

  • Miami’s Greater Downtown condo market cooling down: report

    DDA report cites a slowdown in Latin American and European buyers
    March 03, 2015 12:00PM
    Downtown Miami

    Downtown Miami

    The downtown Miami condominium market is cooling, as many foreign investors retreat to the sidelines amid currency devaluations against the U.S. dollar, according to a report released Tuesday by Miami’s Downtown Development Authority.

    The presale absorption of units has slowed, as South American and European investors have less buying power than before, leading to early indications of a downturn in pricing, the report said. “We are beginning to see the tempering of annual price appreciation in the resale condo market, and we are also beginning to see signs of a slower absorption of presale units,” according to the report, the “First Quarter Greater Downtown Miami Market Residential Real Estate Market Study,” conducted by Integra Realty Resources. [more]

  • DDA plans to narrow and beautify Biscayne Boulevard

    Lanes will be replaced with walkways and bike paths
    February 12, 2015 01:45PM
    Overheard map of Biscayne Boulevard and plans for the area

    Overheard map of Biscayne Boulevard and plans for the area

    The Miami Downtown Development Authority is moving forward with a beautification project that aims to narrow a section of Biscayne Boulevard. [more]

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  • Flagler Street overhaul delayed 3 months

    "Restrictive" bid request on $13 million project attracted few proposals
    December 15, 2014 03:45PM
    flagler street

    Flagler Street, downtown Miami

    A planned revamp of Flagler Street in downtown Miami has been pushed back into the new year after the city reportedly rejected several contractors’ proposals for the renovations.

    The $13 million project, which was scheduled to begin this month, calls for new and wider sidewalks, landscaping and fixtures [more]

  • Flagler Street revamp could start this year

    City officials approach financing deadline
    April 17, 2014 04:33PM
    Flagler Street renderings

    Flagler Street renderings

    Miami city officials are looking to start rehabbing Flagler Street’s retail scene before the year is up, according to a report. [more]

  • The average unit sales price in downtown Miami rose 21.4 percent in the third quarter, according to a report from the Downtown Development Authority. The average sales price for the 12-month period ending September 30 was 11.6 percent higher than the same period a year earlier, with overall unit prices for new and resale units up about 25 percent per year since 2009. [more]

  • Miami eyes downtown for tech city

    June 20, 2012 11:15AM

    Miami’s Downtown Development Authority is looking to promote the city as a potential “tech city” for technology entrepreneurs, Miami Today reported. “Downtown Miami is poised to be the next substantial hub for technology and innovation,” according to a report from Techniacs, a consulting firm hired by the DDA. [more]

  • Axis in Brickell

    There were a total of 1,000 sales in the first quarter of 2012 in downtown Miami in the first quarter, a 27 percent increase compared to the same period in 2011, according to a report from the Miami Downtown Development Authority. The average price of a Miami condominium rose to $371,084 in a 12-month period ending March 31, a 5.2 percent increase over the previous year. Downtown Miami’s rental market is also performing well, with leasing volume up slightly in the same period. [more]

  • Icon Brickell

    The once-vacant “condo canyon” in downtown Miami has been almost entirely filled up, according to a report from the Downtown Development Authority, the Miami Herald reported. Approximately 93 percent of the 23,000 condominiums built in Miami since 2002 like Icon Brickell are now occupied. “I always encourage my clients to bring their checkbooks for the first month’s rent,” said Lauren Popham, a rental specialist with Jeanne Baker Realty. [more]

  • Downtown Miami gets younger

    November 22, 2011 02:51PM

    Epic in Miami

    Downtown Miami is dominated by young professionals, who have filled up the city in the years since the condominium bust. According to data from the Downtown Development Authority, 57 percent of residents in the downtown area are between 20 and 44 years old, with a higher income than the rest of the city and county, according to the South Florida Business Journal. [more]