The Real Deal Miami

Posts Tagged ‘downtown development authority’

  • 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]

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  • 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]

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  • 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]

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  • 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]

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  • 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]

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  • 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]

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  • 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]

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  • After last year’s record of more than 500,000 riders, the downtown West Palm Beach’s trolley ridership is up another 20 percent. According to WPTV, that is a precursor to a retail boom in the downtown area.

    The Downtown Development Authority estimates that 25 new business have entered downtown West Palm Beach this year, and 10 more could join them by year’s end.

    And the increased retail will bring more employees to downtown West Palm Beach, which in turn could attract even more businesses. [more]

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  • Convention center study gets mayoral brake

    November 23, 2009 10:24AM

    A proposed Miami Downtown Development Authority plan to commission a
    study for a convention center has drawn the opposition of Miami Beach
    Mayor Matti Herrera Bower. She has contacted new Miami Mayor Tomas
    Regalado to discuss how both cities and the development group can find
    a way to use about $55 million in county bond money to improve the
    existing center. Neisen Kasdin, development authority vice chair and
    former Miami Beach mayor, said there’s a need to move forward with an
    objective, independent analysis of the needs for conference and
    convention facilities in Miami-Dade County. [Miami Today News]
    [more]

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  • The front-man for a $20 billion, nine-block project near downtown Miami
    cleared a legal hurdle yesterday when he finally received a conflict of
    interest waiver from the Miami City Commission, eight months after
    elected officials agreed to become his company’s partner in creating 12
    million square feet of new construction over the next 20 years. Nitin Motwani, managing director of Miami Worldcenter Group, could not
    be reached for comment at deadline. A few weeks prior to the vote,
    however, Motwani told The Real Deal that he would once again pursue a
    conflict of interest waiver, enabling him to sign a development
    agreement with the city of Miami on behalf of Worldcenter’s founders,
    Boca Raton-based developers Marc Roberts and Art Falcone. “It is
    something, we believe, the city needs to take action on,” he said. [more]

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